PIERRE, S.D. (MITCHELLNOW) South Dakota ends its fiscal year with a $63 million budget surplus. Governor Larry Rhoden says the state moved $63 million in surplus money, plus another $106 million earmarked for a new prison, into its emergency reserves. That brings the state’s total reserves to nearly $492 million. The shift comes as the new fiscal year begins and follows a drop in sales tax revenue. Lawmakers will still need a two-thirds vote to unlock the prison funding, and the $63 million transfer is the smallest in four years. Rhoden says the state will keep its focus on conservative spending and smart investments. For more Government stories from MitchellNow.com, Click Here.
South Dakota Fiscal Year Finishes With Near $63M Surplus
South Dakota closed its fiscal year with a $63 million budget surplus, which, along with $106 million in prison funds, was added to the state's emergency reserves, now totaling nearly $492 million. Governor Larry Rhoden emphasized the state’s commitment to conservative budgeting and smart fiscal management, even amid a decline in sales tax revenue.
