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 the state’s legislature.
Unclaimed Property Receipts were the shortfall’s main perpetrator, coming in more than $14 million under the adopted projections, followed by Sales Tax, Contractor’s Excise Tax and the Insurance Company Tax posting losses of more than $1 million compared to projections.
“I cannot recommend inflationary increases, at all,” Gov. Daugaard said during the address.
“However, board members and administrators have to stay informed on the issue and be willing to advocate to our state and local leaders on the needs of public education.”