South Dakota

TIA Data

2016 Financial State of South Dakota (Released 5/15/2017)

 
South Dakota owns more than it owes and ranks the 6th out of the 50 states.
South Dakota's Taxpayer Surplus™ is $2,300, and received a "B" from TIA.
South Dakota is a Sunshine State with enough assets to cover its debt.
Elected officials have created a Taxpayer Surplus™, which is each taxpayer's share of money available after state bills have been paid.
TIA's Taxpayer Surplus™ measurement incorporates both assets and liabilities, not just pension debt.
South Dakota has $3 billion of assets available to pay the state's bills totaling $2.3 billion.
South Dakota has $684.6 million available after bills have been paid, which breaks down to $2,300 per taxpayer.
Because of an accounting rule implemented last year, South Dakota has to report its pension debt on its balance sheet. In 2016, the state reported a net pension asset of $162.9 million. However, the state's pension plans are actually underfunded by $129.8 million. The state reports an asset because an outdated pension valuation was used in the preparation of the financial statements.
 Unlike most states, South Dakota does not have any retiree health care debt.
The state's financial report was released 183 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2015 Financial State of South Dakota

2014 Financial State of South Dakota

2013 Financial State of South Dakota

Other Resources

South Dakota Comprehensive Annual Financial Reports

Publishing Entity: Bureau of Finance and Management

IN THE NEWS
States hiding true pension debt

NOVEMBER 17, 2017 | HEARTLAND INSTITUTE | by Matthew Glans

In this Research & Commentary, Matthew Glans examines how many states hide their true pension liabilities through their accounting practices and how states can make their reporting more accurate.

VIEW LESS