Joint Committee on Appropriations receive update on the state’s finances

PIERRE, S.D.(WNAX)- The Joint Committee on Appropriations of the South Dakota legislature got an update on the states financial situation at their meeting in Pierre Wednesday.

Derek Johnson from the Bureau of Finance & Management highlighted the sales tax increases.

Johnson says the state saw very strong sales tax increases.

Johnson says other taxes reflected the state’s economic growth.

The state had a year end surplus of over one hundred fifteen million dollars, which was split between a couple of reserve funds.