Image by Charleston Regional Business Journal

Update February 4: The Charleston Regional Business Journal has followed up, most notably adding how much the six Lowcountry towns are to receive in funding -- if they get their paperwork in.

Go check it out.

First reporting: The State Treasurer's Office is threatening to withhold state payments from several small South Carolina towns unless they submit their annual financial audit.

Those towns include (Lowcountry towns are in bold): Andrews, Gaston, Quinby, Atlantic Beach, Iva, Sellers, Bonneau, Lincolnville, St. Stephens, Carlisle, Lynchburg, Summerton, Cross, Hill, Norway, Turbeville, Elgin, Olanta, Ulmer, Fairfax, Olar, and Vance.

The State Treasurer's Office writes on their Web site:
In a effort to hold local governments accountable, the State Treasurer's Office will begin withholding State " Aid to Subdivisions" funding on February 1, 2009 for any county or municipality that fails to submit an annual financial audit as required by State law.

It seems unlikely that any payment will actually be withheld. Still, if your town is on the list, maybe a phone call to your leader's office is in order.

Thanks to NBC News 2 for tipping us off.