SIOUX FALLS, S.D. (KELO AM) -The State of South Dakota reports the general fund had a balance of over $318 million at the end of the fiscal year.
Governor Dennis Daugaard says the state’s total net position increased by $162 million.
Other financial highlights include a net pension asset of $159 million at the end of the fiscal year. That's the fund that covers the liabilities of state employees. The state's governmental funds report combines ending fund balances of $1.8 billion, an increase of $35.6 million, or 2%, from the prior year.
Daugaard says the Bureau of Finance and Management moved the release date of the financial report up by five months and issued the report ahead of schedule.
The just released report contains the state government’s complete financial statements.