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Thu Sep 13, 2018, 01:03 AM

South Dakota Holds $1.24 Billion in Reserves and Trust Funds

The State of South Dakota is so rich—

How rich is it?

—the State of South Dakota is so rich that, if we all stopped paying taxes, the Legislature, in its Special Session tomorrow, could smash the state piggy banks and keep state government operating for nine months.

The Legislative Research Council has published this chart of the state’s reserve and trust funds as of the end of July. We have $1.24 billion dollars in our state mattress:

State of South Dakota
Cash and Investment Balances in State Reserve and Trust Funds as of July 31, 2018, LRC, 2018.09.10.

That’s three quarters of the $1.63 billion appropriated last March (in a budget handed to all legislators twenty minutes before the final vote) to the state general fund.

Read more: http://dakotafreepress.com/2018/09/11/south-dakota-holds-1-24-billion-in-reserves-and-trust-funds/

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