The State of South Dakota closed out its fiscal year with a budget surplus of nearly $86 million.
Revenues came in $62 million higher than legislators anticipated, while spending was down by about $24 million.
That brings the state’s reserves to more than $301 million.
Governor Kristi Noem says the state’s financial success comes from fiscal responsibility and a respect for freedom. The governor never ordered statewide business restrictions or mask requirements.
Since March 6, 2020, South Dakota has received approximately $11 billion in pandemic relief. That money went to state and local governments and individuals.
As of July 16, the state has spent approximately $1.05 billion of its first round of federal COVID stimulus money. States have until the end of this year to report on initial federal COVID relief spending.
South Dakota received an additional $1.4 billion as part of a second round of stimulus funding. It has until the end of 2024 to spend the money.