Members of the Joint Appropriations adopted revenue projections of $1.392 billion for the fiscal year 2015 budget on Tuesday.
The projection comes in just $1 million under Gov. Dennis Daugaard’s proposed budget, which likely indicates schools will receive the proposed three percent increase in state aid. Gov. Daugaard’s budget proposal totaled $1.393 billion.
On Monday, appropriators heard the FY15 revenue projections of the S.D. Bureau of Finance and Management and the Legislative Research Council, both of which came in slightly less than the governor’s proposed budget.
Appropriators adopted revenue projections in 17 revenue areas from each entity’s presentation to land on the $1.392 billion estimate. S.D. BFM’s collective projections came in $6 million lower than the Governor’s proposed budget, while LRC’s projections were $4 million lower.
The Joint Appropriations committee will convene later this week to begin the finalization of the state’s budget in the form of Senate Bill 187. Once finalized, SB 187 will be sent to both chambers for passage.