Governor says South Dakota ended 2017 with strong financial position

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PIERRE, S.D. -

Despite lower-than-expected sales tax revenue, the State of South Dakota has ended 2017 in the black.

The South Dakota Bureau of Finance and Management has released its Comprehensive Annual Financial Report for public review.

The report includes the state's complete financial statements and information on the following:

  • The state’s economic conditions and outlook
  • The profile of the government
  • Major initiatives
  • A financial analysis of the state’s funds

"The report is a solid report,” said Gov. Dennis Daugaard. “It's a clean audit, if you will, from The Department of Legislative Audit. And it shows our financial position strengthened a little bit from what was already a pretty strong financial position. So I'm very pleased."

READ MORE: Gov. Daugaard blames sales tax for budget shortfall?

This is the 31st consecutive year that the annual report has received an unmodified "clean" opinion from The Department of Legislative Audit.

REPORT HIGHLIGHTS

  • The general fund ended the year with a positive balance of $313.7 million.
  • The state ended the year with a total net position of $6.5 billion, up 4.1 percent over 2016.
  • Proprietary funds ended the year with a net position of $732.9 million, up 1.8 percent from 2016.

View the full report here. For printed copies, contact the Bureau of Finance and Management at 605-773-3411.

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