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November24

Revenue collection ahead of collection one-third through FY19

One-third of the way through the 2019 fiscal year and South Dakota’s revenue collection is ahead of schedule.   Revenue collected through October – as reported by S.D. BFM –  is nearly $3 million ahead of projections adopted by the South Dakota Legislature during legislative session this year. July and September collections were in the
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June07

Revenue collection remains ahead with one month to go

Revenue for the fourth and fifth months of 2018 found the black and put fiscal year 2018 a positive final month away from collections outpacing estimates.   S.D. Bureau of Finance and Management reported April’s collections coming in $4.2 million above estimates with the Bank Franchise Tax ($4.7 million) being the month’s biggest winner while
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December07

Declining revenue collection results in no proposed inflationary increase for K-12

Due declining revenue in South Dakota, Gov. Dennis Daugaard proposed no inflationary increase for K-12 education for fiscal year 2019 during his budget address on Tuesday (12/5).   “I cannot recommend inflationary increases, at all,” Gov. Daugaard said, adding that funding for education for the 2018-19 school year will be “tied to increasing student enrollment”
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April28

Revenue collection remains major issue

Since the start of 2017 revenue reports have not been rosy.   That tepid trend continued during the April meeting of the legislature’s Executive Board. S.D. Legislative Research Council Fiscal Analyst Jeff Mehlhaff informed board members the state’s general fund revenue is down $3 million from “where we anticipated being” based on the restructured revenue estimates
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April17

Revenue collection remains behind in South Dakota

Revenue in South Dakota is not on the rise.   A recently released report by the South Dakota Bureau of Finance and Management noted general fund collections for fiscal year 2017 remain lower than expected; even after estimates were recalculated and adopted by the legislature.   Collections in March came in nearly $4 million lower
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December22

Collections well below projections in latest revenue report

South Dakota’s avoided the worst of winter’s coldest weather, thus far, but the state’s revenue collection last month was below zero, per se.   November’s reported revenue collections came in lower than any other month thus far in fiscal year 2018 with actual collections coming in nearly $17 million lower than the projection adopted by
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January09

Revenue figures bounce back, budget talks about to begin

The holiday shopping season brought in the green to keep state revenue figures out of the red.   Revenue collections in December came in slightly more than $10 million higher than what the legislature adopted for the month during last year’s legislative session. The December figures were a needed rebound over November’s numbers, which were
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June21

Supreme Court sides with S.D. in online sales tax collection

South Dakota earned victory in the argument over online sales tax collection.   In a 5-4 decision, members of the U.S. Supreme Court sided with South Dakota in its challenge that states can collect sales tax from online retailers. The high court’s decision comes two months after Attorney General Marty Jackley presented the state’s case
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April14

Revenue figures revert to the red in March

Revenue figures reverted to the red in March.   S.D. Bureau of Finance and Management reported revenue for the third month of 2018 was nearly $2 million under projections adopted by the legislature during session.   Sales Tax collections were $2.4 million less than projected for the month with Bank Franchise Tax and Unclaimed Property
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November09

Revenue figures dip in October

South Dakota grabbed a rebound in revenue numbers in September, but saw the figures tipped out of bounds in October.   October’s revenue figures came in nearly $5.6 million lower than the figure set by legislative projections adopted earlier this year. October’s loss comes on the heels of last month’s $3.5 million uptick on projections.
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