South Dakota ends fiscal year with $80+ million surplus; Money to be used to help pay for new prison facilities

State government in South Dakota ended the 2024 budget year (June 30, 2024) with an $80.7 million surplus.

Governor Kristi Noem says she will set the dollars aside to offset the cost of construction of new men’s and women’s state prisons. She says state government spend $56.4 million less than appropriated, with the total revenue finishing above the legislative adopted forecast by $24.3 million.

By law, the surplus was transferred to the state budget reserves. South Dakota’s reserves now total $322.8 million or 13.3% of the fiscal year 2025 general fund budget. Additionally, South Dakota maintains a AAA credit rating and is one of the only states with a fully-funded pension.