SIOUX FALLS, S.D. (AP) — South Dakota Gov. Kristi Noem announces the state finished the last fiscal year with an $86 million surplus.
The Republican governor says tax revenue hit a 30-year high and finished $62 million over what was estimated. The state also spent about $24 million less than what was budgeted for the fiscal year that ended on June 30.
Noem credits the state’s “respect for freedom and our continued emphasis on fiscal responsibility” for the financial windfall. Federal coronavirus relief funds sent both to taxpayers and state government also fueled the surplus.