SIOUX FALLS, S.D. (KELO AM) Governor Dennis Daugaard says revenues are soft and will not reach the levels budgeted for the current fiscal year.
But Daugaard says expenses are also lower that forecast so the state will finish in the black. The State is in the 7th month of FY 2015.
Still, the Governor says, a softer revenue picture must cause the state to re-evaluate the projection of revenue for fiscal 2016 which begins in July.
Daugaard anticipates that proposed expenditures he outlined last December will have to be reduced.