With only two months left to collect in Fiscal Year 2022, revenue collections remain far above projections, even after they were adjusted during legislative session.
Through April, revenue collections are $32 million ahead of the revised projections with the month of April alone accounting for an additional $20 million more than projections. Compared to the revised projections adopted by Appropriators February eclipsed its benchmark by more than $10 million and March by $2.4 million.
The revenue figures will almost undoubtedly lead to another increase in the budget reserve, which in Fiscal Year 2020 sat at $193.4 million and reached more than $300 million in Fiscal Year 2021 – totaling 16.6 percent of South Dakota’s general fund budget.
For updates on revenue projections as the fiscal year comes to a close, check the ASBSD blog .
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