This paper discusses five scenarios that have had an impact on school finance in the state of South Carolina during recent years. These scenarios include (1) the Education Finance Act of 1977 (EFA); (2) the Education Improvement Act of 1984 (EIA); (3) the issue of fiscal independence; (4) school fees; and (5) school bonds. The EFA was designed to provide a means of implementing a financial support system that would result in more equitable educational opportunities in all South Carolina school districts. Eight major elements of the EFA are summarized. The EIA was responsible for numerous changes in South Carolina schools and a one-cent sales tax increase was enacted to pay for its implementation. Seven action initiatives embraced by the EIA plan are discussed. Fiscal independence is discussed in terms of educational benefits, the school district board's responsibility, limited fiscal independence, a "statutory cap" limitation, and school districts with no taxing authority. Appended are nine references and a listing of fiscal authority of school districts. (SI)