South Dakota

TIA Data

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

South Dakota owns more than it owes
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. This year, the state's reported pension debt grew from -$275.7 million in 2015 to -$162.9 million in 2016.
Despite reporting most of its pension debt, the state is still hiding retiree health care debt. South Dakota's total hidden debt amounts to $129.8 million. A new accounting standard will be implemented in two years, and will require states to report this debt on the balance sheet.
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