South Dakota Ends Fiscal Year with $80 Million Surplus
PIERRE, S.D. – Today, Governor Kristi Noem announced that South Dakota closed the 2024 budget year with a surplus of $80.7 million. As she did last year, Governor Noem announced her intention to set aside the surplus to offset the cost of prison construction.
“South Dakota makes common sense decisions based on small government, low taxes, and spending within our means. We don’t just talk about fiscal responsibility – we follow through!” said Governor Noem. “We will continue to budget responsibly for the people, and we will avoid unnecessary debt by using this surplus for prison construction costs. This will help South Dakotans keep more of their hard-earned money in their pockets.”
State government spent $56.4 million less than appropriated in fiscal year 2024, with the total revenue finishing above the legislative adopted forecast by $24.3 million.
South Dakota maintains a AAA credit rating and is one of the only states with a fully-funded pension. South Dakota also has the lowest unemployment rate in America.
By law, the fiscal year 2024 surplus was transferred to the state’s budget reserves. The state’s reserves now total $322.8 million or 13.3% of the fiscal year 2025 general fund budget.
###
Given that South Dakota is a chronic welfare state taking in more federal dollars that it pays in for taxes a special thank you should be sent to the Biden Administration, Federal Government and the states like Minnesota that pay more to the Federal Government than it gets back.
The bulk of the “welfare state” is for federal funds for highways that are maintained for out-of-state tourists and truckers going through our state. Take away the Highway funds and we are not a welfare state.
Take away the highway funds and our agriculture industry goes upside down. The amount of investment needed locally would create a hyperinflation that you don’t want. I’m not sure the economic activity in south dakota would creat enough revenue to sustain any infrastructure outside the major cities. Rural communities would collapse.
Front spending toward quality education would reduce the number of prisoners. I’d like to see more responsibly in distribution of fund to support students and teachers.
Can we quit spending money on people who smoke weed? We incarcerate people at a higher rate than every state.
Smoking weed doesn’t land people in our prison, beating and stealing from our family and community members does
My biggest criticism of Governor Noem has been that her lead issue of accomplishments should be that she will replace a prison that our families and communities all need, and that several governors were afraid to take on, and she rarely toots her horn about it.
I get that community safety isn’t sexy, and doing something big and expensive without driving up a huge debt, may not sound interesting, but this is a very important infrastructure move for South Dakota.
I can’t quite tell if she wants to hear this, but Thank You Governor