Gov. Daugaard Signs $4.3 Billion Dollar SD Budget

PIERRE, S.D. – Gov. Dennis Daugaard today signed the General Appropriations Act, which sets the budget for Fiscal Year 2016.

South Dakota Governor Dennis Daugaard

“I’m pleased with the budget the Legislature adopted. Under this budget bill, we don’t spend money we don’t have, we adopt conservative numbers and we fund ongoing expenses with ongoing revenues,” said Gov. Daugaard. “Establishing a budget is some of the most important work of the legislative session. I want to thank legislators for their work to keep our state on a strong financial footing.”

Including general, federal and other funds, the total budget for Fiscal Year 16 is set at $4.3 billion dollars. The budget bill continues the Governor’s policy of using one-time money to fund one-time expenses and ongoing dollars to fund ongoing expenses.

“Despite some soft revenue estimates, we were still able to invest more dollars in the areas that matter most. In the upcoming fiscal year, we’ll be providing higher increases for education, providers and state employees than what is required under statute,” the Governor said.

House Bill 1208 provides for the following ongoing increases in FY16:

• Two percent increase for education,
• Up to 2.5 percent for medical providers, and
• Two percent inflation and two percent market value increases for state employees.

Under the General Appropriations Act, education will account for the largest portion of general fund spending – 45 percent – in FY16.

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