1 min read

Daugaard: South Dakota Ends 2015 Budget Year With Surplus

Associated Press0

SIOUX FALLS, S.D. (AP) — South Dakota Gov. Dennis Daugaard says higher revenues and lower-than-anticipated spending mean the state has ended the 2015 budget year with a surplus for the fourth year in a row.

Daugaard on Monday announced that the state finished the 2015 fiscal year that ended June 30 with $21.5 million over revenue estimates that lawmakers adopted in March.

Revenues grew by an unexpected $10 million and state spending came in $11.5 million less than budgeted for the period.

The sales tax makes up more than 60 percent of state general funding. It grew by 1.6 percent over the previous budget year.

Daugaard says balancing the state budget has been his main priority since assuming office.

He says South Dakota begins the 2016 budget year in “an enviable position.”

The AP is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers. AP is neither privately owned nor government-funded; instead, as a not-for-profit news cooperative owned by its American newspaper and broadcast members, it can maintain its single-minded focus on newsgathering and its commitment to the highest standards of objective, accurate journalism.
Website http://ap.org/

Related Posts