South Dakota finished Fiscal Year 2019 with a $19 million budget surplus, but some aspects of revenue collection underwhelmed, which could become a trend in Fiscal Year 2020. Much of the $19 million surplus was a result of budget reversions from state departments with more than $17 million in reversions. Revenue collection came in …
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 …
Revenue figures bounce back, budget talks about to begin Read More »
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 …
Revenue collection ahead of collection one-third through FY19 Read More »
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 …
Revenue collection remains ahead with one month to go Read More »
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 …
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” …
Declining revenue collection results in no proposed inflationary increase for K-12 Read More »
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. …
State revenue numbers rebounded in September despite sales tax figures coming in under projection for the second consecutive month. Total revenue figures for the month of September in South Dakota were $3.5 million higher for the month than those adopted by the legislature earlier this year. Sale tax figures, however, came in under projection …
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 …
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 »
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