South Dakota

TIA Data

2017 Financial State of South Dakota (Released 9/25/2018)

 
South Dakota owns more than it owes.
South Dakota has a $3,100 Taxpayer Surplus.™
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 $3.2 billion of assets available to pay the state's bills totaling $2.3 billion.
South Dakota has $922.7 million available after bills have been paid, which breaks down to $3,100 per taxpayer.
South Dakota's reported net position is inflated by $327.4 million, largely because the state defers recognizing losses incurred when the net pension liability increases.
While South Dakota’s pension plan is well-funded and its assets exceeded liabilities in fiscal year 2017, the state reported a net pension liability of $129 million on its balance sheet because it used the previous year’s pension valuation to prepare the financial statements.
The state's financial report was released 182 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of South Dakota

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
We don’t spend money we don’t have

DECEMBER 11, 2018 | RAPID CITY JOURNAL | by Dennis Daugaard

Every December, the state Legislature meets to receive a budget proposal from the governor. This proposal is the starting point for the legislative budget process, which ends with the passage of a budget bill at the end of session in March.

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