South Dakota ended Fiscal Year 2022 with $115.5 million budget surplus

July 18, 2022


PIERRE, S.D.–Governor Kristi Noem’s office announced Monday that South Dakota closed the 2022 budget year on June 30th with a surplus of $115.5 million. Total general fund revenue for fiscal year 2022 finished

$72.3 million higher than adopted estimates, and the state general fund budget ended with expenses $43.2 million less than budgeted.


The governor issued a statement saying, “We live within our means and operate government conservatively.”


And there’s more good news. South Dakota’s personal income growth led the nation again in the first quarter of 2022.


People continue to move to South Dakota as the net inbound migration was ranked second in the nation, while South Dakota’s 2.3% unemployment rate is among the lowest in the nation and lower than before the pandemic.