South Dakota Ends Fiscal Year With Surplus

South Dakota state government closed the 2018 budget year on June 30 marking the seventh consecutive year with a surplus. The state general fund budget for Fiscal Year 2018 ended with lower expenditures and higher revenues than budgeted.

State agencies spent $10.7 million, or 0.67%, less than appropriated. Additionally, revenue for fiscal year 2018 exceeded estimates adopted by the Legislature last March by $6.2 million, or 0.38%. In total, the state’s budget for fiscal year 2018 ended with a $16.9 million surplus.

“This marks the seventh consecutive year that we have maintained a structurally balanced budget. This was my number one priority when I took office and it still is as I finish my term as Governor,” said Gov. Daugaard. “Finishing fiscal year 2018 in the black puts South Dakota’s budget in a positive position as we begin the 2019 fiscal year.”

Collectively, the three branches of state government spent $10.7 million less than appropriated. Of the general fund reversions, $8.5 million came from Executive Branch agencies, and $2.2 million came from the Unified Judicial System, the Legislature, the Board of Regents and constitutional offices.

(Office of South Dakota Governor)