The results of the audit found that $1.6 billion of the $1.8 billion believed to have existed was the "result of incorrect journal entries."

COLUMBIA, S.C. (AP) — It turns out that $1.8 billion in South Carolina state funds weren’t just sitting in a bank account waiting to be spent. Instead, it was an accounting error compounded over years instead of being reconciled, an independent forensic audit determined.

A South Carolina Department of Administration report revealed origins of a $1.8 billion accounting discrepancy that has puzzled lawmakers and residents alike.

Thursday morning Richland County Representative Heather Bauer announced she has filed articles of impeachment against SC Treasurer Curtis Loftis. Bauer says, over almost a decade, the treasurer knew or should have known of serious reporting errors.

The financial audit revealed most of the $1.8 billion was made up of entries made in a conversion error, not amounting to real cash.

In the wake of a report that South Carolina’s financial leaders allowed a $1.8 accounting blunder to linger on the state’s ledger for nearly a decade, one House Democrat is calling for the impeachment of state Treasurer Curtis Loftis.

State legislators are weighing in now following the independent forensic audit by AlixPartners determined that accounting errors compounded over years, instead of being reconciled, were responsible for what had been reported to be $1.