South Dakota state government ended the 2014 budget year in another surplus. This is the third year in a row for the state, and Tim Rave, Senator and Senate Majority Leader, says the budget came out just on the mark.
The state ended up transferring almost $10 million to the Budget Reserve Fund, creating a total reserve of over $100 million, and Rave says that’s not too much.
The surplus is credited to higher than expected revenues and decreased government spending by more than $7 million. $6.3 million of that was reduced by the slowed growth in Medicaid and the Children’s Health Insurance Program.