South Dakota Bureau of Finance and Management

South Dakota is feeling the squeeze from all directions as federal funds are significantly cut across government. Now, South Dakota’s lawmakers need to manage the crunch.

At the latest legislative interim appropriations meeting, a new law came at the forefront. That’s because the state saw a “windfall” of one-time funds from unclaimed property.

A legislative task force is looking to cut property taxes by almost $900 million. A tax shift might be on the table, but some lawmakers say it might not be a one-size-fits-all approach.

The surplus included $41 million in higher-than-expected revenue and $22 million in spending below what was budgeted, state officials said Monday.

State budget officials are advising the legislative committee that oversees South Dakota’s finances that sweeping cuts at the federal level are going to impact the state’s bottom line.

After reports of former Gov. Kristi Noem’s expenditures on the state credit card went public, lawmakers are asking for accountability of the state’s highest office.

A Senate committee is advancing a bill to modify the state’s maximum benefit sparsely populated school districts are eligible to receive.

Some see the coming year as one for tightening belts with potential for many cuts. But some revenues are currently higher than anticipated.

The state of South Dakota has $322.7 million in budget reserves. That’s according to an annual comprehensive financial report released by the Bureau of Finance and Management on Tuesday.

With another year quickly wrapping up, state lawmakers, budget writers, and economists are taking stock of the last 12 months. Now, they prepare to move forward into the legislative session