Pierre, SD (KELO-AM) Governor Dennis Daugaard (R) says that for the third straight fiscal year the state budget ended with a surplus.
He says that the state general fund budget for fiscal year 2014 that ended June 30 ended with both higher revenues and lower expenditures than budgeted.
Revenue growth for the completed 2014 fiscal year exceeded estimates adopted by the Legislature last March by $2.6 million. In addition, state agencies also demonstrated fiscal restraint, spending $7.2 million less than appropriated. In total, the state’s financial picture improved by $9.8 million from the March fiscal year 2014 estimates.
“This marks the third year in a row that we have maintained structural balance in our budget. This was my number one priority when I took office,” Gov. Daugaard said. “We were able to finish the fiscal year strong."