South Dakota

The governor must submit the annual budget to the state legislature by 1 December; the fiscal year begins the following 1 July. The legislature may amend the budget at will, but the governor has an item veto.

The governor's 2000/01 South Dakota State budget totaled $2.26 billion, with $769 million in general funds and $880 million in federal funds. Approximately $536 million was set aside for personal services, and $1.7 billion for operating expenses. In 2000/01 general fund revenues came in over target, at $814 million, to cover expenditures of $803 million. In 2001/02, general fund revenues increased to $843 million, but expenditures climbed faster, to $850 million. The state transferred $13.3 million from the Budget Reserve Fund (South Dakota's rainy day fund) and made other fund transfers to close the budget gap. In 2002/03, however, the gap widened, as general fund revenues of $865 million were matched with general fund expenditures of $886 million. Again, the South Dakota's budget deficit for 2003 was estimated at 4.1% of the state budget, and for 2003/04 was projected at 6.4% of the state budget. In 2000/01, South Dakota had a starting balance equal to 18.8% of expenditures. For 2003/04, the starting balance is at 10.3% of projected expenditures.

The following table from the US Census Bureau contains information on revenues, expenditures, indebtedness, and cash/securities for 2001.