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 …
Revenue collection remains behind in South Dakota Read More »
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 …
Collections well below projections in latest revenue report Read More »
A handful of the pieces of legislation being tracked by ASBSD on our Billtracker page during the 2023 legislative session deal with tax reduction or repeal in some manner and their outcome will inevitably be affected by the state’s revenue collections, with adoption of FY24 revenue estimates upcoming. You can read about the, the …
2023 ASBSD Billtracker Update: Taxes, revenue & funding Read More »
With Fiscal Year 2022 nearing its end South Dakota’s revenue collections have exceeded revised projections by nearly $50 million. May’s revenue collections came in $16 million above the revised projections adopted by the legislature during the 2022 legislative session. The additional $16 million in May combined with collections in April, March and February …
Nearly $50 million more in revenue collected as FY22 nears end Read More »
Revenue collections exceeded projections for the fifth consecutive month. November’s revenue collections exceed the legislature’s adopted projections by $14.5 million, which was powered by sales tax collection being nearly $13 million above projection. The surplus revenue projection for the month brought the 2022 Fiscal Year total collections to nearly $88 million more than …
Rev. collections exceed projections for fifth month Read More »
The Coronavirus outbreak has had an impact on the state’s economy that has yet to be seen. School districts received the two percent increase required by law, which is three percent or inflation, whichever is less and inflation for Fiscal Year 2021 is at 2 percent. That increase is in flux as a special session looms …
Revenue figures could have direct effect on state aid increase Read More »
South Dakota’s revenue figures from the holiday season brought with them some cheer and a note from Gov. Kristi Noem during her State of the State Address that any extra money should be prioritized for K-12 education. “Since my budget address, revenues have been slightly better than expected,” Gov. Noem said during her address …
Gov. Noem notes rise in revenue, possibility for state aid increase Read More »
The most recent revenue figures for South Dakota tell two different stories. November’s revenue numbers are either very good or very bad, depending on the projections used. Based on revenue projections adopted by the legislature during the 2019 legislative session, the revenue figures for November came in $8.7 million higher than projected, but utilizing …
Revenue projections may have major implications for K-12 Read More »
Discussion revolving around online sales tax revenue returned to the legislature recently. Legislative Research Council representatives Wenzel Cummings and Jeff Mehlhaff appeared before the Legislature’s Executive Board recently (12/3), just a few weeks after (11/19) sharing information on Sales Tax Reduction from Remote Sales with the committee. At the November meeting, the Executive Board voted …
Online sales tax collection continues to be cloudy Read More »
Online sales tax revenue was on the agenda for legislature’s lead committee this week. Members of the Legislature’s Executive Board received a report on Sales Tax Reduction from Remote Sales, which in state statute is the reduction of the sales tax by one-tenth of percent for every $20 million raised by Internet sales, also …
Online sales tax collection on the rise, solutions sought in statute Read More »
Associated School Boards of South Dakota is a private, non-profit organization representing more than 850 local school board members, the school districts they govern and the students they serve.