PIERRE, S.D.(Press Release) – On Wednesday, the Bureau of Finance and Management (BFM) released South Dakota’s Annual Comprehensive Financial Report (ACFR) for fiscal year 2021. The ACFR is the audited financial statements for state government.
“South Dakota is setting an example for the nation with our strong financial position and our continued dedication to being ‘Open for Business,’” said Governor Kristi Noem. “I look forward to working with the legislature in the coming months to invest wisely for the future and continue our commitment to fiscal responsibility.”
With the continued dedicated effort of the Department of Legislative Audit and other state agencies, BFM has succeeded in issuing the ACFR by the end of the year. Highlights from the fiscal year 2021 ACFR include:
- The State’s total net position (net worth) is $8.1 billion, an increase of 10% from the prior fiscal year;
- The combined ending balance of the State’s reserves is $307.1 million, an increase of $91.2 million;
- The South Dakota Retirement System has a funded status of 105.5%, one of the strongest pension plans in the nation; and
- The State has maintained its AAA public issuer rating from Standard & Poor’s, Fitch Ratings, and Moody’s for the past five fiscal years. This represents the highest rating possible from all three bond rating agencies.
The ACFR can be viewed online at bfm.sd.gov/acfr, or for printed copies, contact BFM at 605-773-3411.