South Dakota Bureau of Finance and Management (BFM) released the March 2020 general fund receipt dashboard. Through 8 months of the fiscal year, total general fund revenues are up 5.7% compared to last year.
Key Findings:
- Sales tax was up 9.5% compared to a year ago (page 1), it was up 0.8% compared to the Legislative Revised estimate for the month of February (page 4). Year-to-date, Sales tax is $0.6M higher than the Legislative Revised estimate through eight months (Page 5).
- Lottery Due to a shortened month, one less transfer to the general fund was completed, this led the category to be down 45.9% compared to a year ago (page 1). Lottery is down 48.8% or $4.8M compared to the Legislative Revised estimate for the month of February (page 4) and the same amount Year-to-date compared to the Legislative Revised estimate through February (Page 5). There will be an extra transfer on next month’s revenues aligning this category on a YTD basis.
- Contractor’s Excise Tax (CET) was up 24.0% compared to a year ago, it is up $0.4M or 4.9% compared to the Legislative Revised estimate for the month of February and Year-to-date.
- Insurance company tax was up $3.5M compared to a year ago and the same compared to the YTD Legislative Revised estimate. YTD this category is up 3.2% compared to last year and 5.7% greater than the Legislative Revised estimate.
- Unclaimed property YTD unclaimed property is down 11.4% compared to FY2019 and is 0.7% greater than the Legislative Revised estimate.
To view the SD BFM Financial Metrics and Dashboards.
