South Dakota House of Representatives. KELO.com News file photo by Todd Epp.
PIERRE, SD (KELO.com) — South Dakota officials are getting a look at the latest revenue numbers, and they’re coming up short. Appropriations Committee Co-Chair, Senator Ernie Otten says revenues are running about eight million dollars below budget targets. With that in mind, Senator Otten says he wants legislators to resist a push to tap into the state’s rainy day.
Senator Otten says a number of lawmakers would like to reduce the rainy day fund from its current level of 12 1/2-percent down to 10-percent. That would make another 65-million dollars available for budgeting purposes. Otten says with uncertainty over future Federal funding and another looming government shutdown at the end of the month, it would be best to keep the rainy day fund at its current level.
Comments