South Dakota ends FY2017 with an $8M surplus

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SD Capitol

South Dakota state government closed the 2017 budget year on June 30 marking the sixth consecutive year with a surplus. Despite lower revenue, the state general fund budget for Fiscal Year 2017 ended with a $7.9 million cash surplus.

The fiscal year ended better than anticipated due to reduced expenses from state agencies.  In total, state agencies spent $15.6 million, or 1 percent, less than was appropriated by the Legislature. The largest reversions were from the Department of Social Services $10M and Human Services at $2M.

Revenue for Fiscal Year 2017 finished lower than estimates adopted by the Legislature in February by $7.6 million, or 0.48 percent. Combined, the state’s budget for Fiscal Year 2017 ended with a $7.9 million surplus. To view the SD Bureau of Finance and Management Year End slides.