South Dakota finished the last fiscal year with an $86 million surplus.
Despite the pandemic, tax revenue hit a 30-year high, and finished $62 million over what was estimated. The state also spent about $24 million less than what was budgeted for the fiscal year that ended on June 30th.
Yankton Senator Jean Hunhoff, who is the state appropriations committee co-chair, says input is needed on where the surplus dollars are needed the most…
Hunhoff adds that this will be a fact-finding mission for her committee…
The $86 million surplus was transferred into the state’s budget reserves, as required by state law. The state’s total reserves are now $302 million.
