The Best and Worst Run States in America: South Dakota #11
Wednesday, December 14, 2016
The South Dakota government appears to have a better-managed budget better than nearly any other U.S. state. South Dakota has the most well-funded pension in the country, with funding exceeding pension obligations by 7.3%. The state’s surplus coffers comprise 9.0% of the current annual budget, one of the larger rainy day funds nationwide. Credit ratings agency Moody’s has given South Dakota the highest possible credit rating and a stable outlook. State lawmakers managed to produce a balanced budget despite collecting less revenue than public officials had projected. According to the state’s chief economist, one reason for the low revenue figure was the increased popularity of online shopping. Increased online shopping redirects revenue from brick-and-mortar retailers in the state to retailers in other parts of the country, ultimately decreasing tax revenue for South Dakota.
Click here for the complete article.
Category: Awards and Recognition