State revenue $5.1M higher than estimate for May 2018

The general fund receipt report released by the South Dakota Bureau of Finance and Management (BFM) shows sales tax collections were down 1.2 percent in May, or  lower than the estimate of $5.2M for the month, however receipts for insurance company tax, alcohol tax and severance taxes were all higher.

Overall, through 11 months of the fiscal year, ongoing collections are $5.1M higher than estimated. The report compares the most recent year-to-date receipts in all major categories for the state general fund to receipts from the prior year and on a year-to-date basis.

The dashboard reports also compare the most recent legislative adopted forecast, as well as the original adopted forecast to gauge how well actual collections are performing compared to budgeted levels.