I missed this part entirely in the freedumb caucus press release, but an observant soul noted to me – they’re complaining about accounting practices which arose from their own bill. From the Freedumb Caucus screed sent out yesterday:
..parts of the Governor’s address the caucus called “deeply misleading” and “fiscally irresponsible” in regard to its characterization of the state’s financial position.
Governor Rhoden acknowledged in his own remarks that last year’s $63 million surplus was “largely driven by one-time unclaimed property revenues” and admitted that “without those unclaimed property dollars, we’d have actually been a bit short on our revenue at the end of the fiscal year.” Yet the address framed this precarious position, and potential shortfall, as fiscal strength.
South Dakota Freedom Caucus said that narrative is repeated in 2026 with another $61 million in unclaimed-property funds and again in 2027 with $58 million. Without these temporary cash grabs, all of those years would have posted negative balances.
“Let’s be clear about what unclaimed property actually is,” said Representative Tina Mulally, Treasurer of the South Dakota Freedom Caucus. “This is money that belongs to South Dakota citizens and across our nation — not the government. When Pierre balances its books by taking property that was never returned to its rightful owners, that’s not fiscal conservatism. That’s the government helping itself to the people’s money.”
The problem with this? The Governor’s Budget is accounting for unclaimed property the way the law requires, based on Senate Bill 155, a bill that Taffy Howard brought and passed in the 2025 session. https://sdlegislature.gov/Session/Bill/25909. Who were the sponsors of the measure? Senators Howard (prime), John “California” Carley, Crabtree, Otten, Perry, Peterson (Sue), and Voita and Representatives Kassin (prime), Baxter, Gosch, Jensen (Phil), Jorgenson, May, Moore, Muckey, and Sjaarda
SB155 was the bill that created the Unclaimed Property trust fund. It spells out how much unclaimed property is supposed to be included in the ongoing budget. It passed unanimously.
So, public Freedumb caucus leaders Phil Jensen and California Carley, along with Heather Baxter were sponsors of the bill that demanded the change in accounting that the group just sent out a press release complaining about? And every single one of them – including Tina Mulally – VOTED for it?
No wonder the legislature is so dysfunctional. These guys are tripping over themselves to send out a press release to complain about a bill that many of them sponsored. And all of them certainly voted for.
District 28 clowns must have missed signing on for this bill. Murica. The race for the bottom is heating up.
Well, hmmm…, It is a distinction without a difference as to where whether unclaimed property is deposited into the state’s general fund versus into a separate fund in the treasury. And calling it a “trust fund” is laughable. Moneys in it can still be spent for any purpose. All states use unclaimed property to fund government. No money was “taken” from the people. It is also laughable for the governor or an agency or BFM to call such funds “one-time.” That is a term of art. All unclaimed money is “one-time,” and that one-time annually occurs in varying amounts.
Love the coordination of their little caucus. Really makes an impact. Kind of like SDGOP and their coordination skills.