South Dakota Gov. Kristi Noem says the state finished the last fiscal year with an $86 million dollar surplus with tax revenue hitting a 30-year high to finish $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 says South Dakota’s year over year growth in fiscal 2021 was $274.2 million or 15.7%, compared to a ten year average of 4.6%.
She calls it the largest rate of growth that the state has seen in over 30 years; quite possibly in state history, but doesn’t point out 2020 was hit hard by the coronavirus pandemic.
Noem credits the state’s “respect for freedom and our continued emphasis on fiscal responsibility” for the financial windfall, but doesn’t mention the hundreds of millions of dollars in federal coronavirus relief funds sent to the state.