South Dakota Governor Kristi Noem’s office announced late Monday the state has ended fiscal year 2022 with a budget surplus of $115 million.
“South Dakota has the strongest economy in America and a strong financial position to match,” said Governor Noem. “We live within our means and operate government conservatively. Low regulation, low tax burden and business friendly policies are still the recipe for economic success.”
General fund revenue finished with $72.3 million, or 3.3 percent higher than estimated. In all South Dakota finished the year with $36.6 million over estimates, growing 12 percent over last fiscal year. That $115 million will now go into the state’s budget reserves which totals $422.6 million. South Dakota has finished with a budget surplus ever year since 2012.
