Financial Metrics/Dashboards

Executive Order 2014-04 directed the Bureau to make available certain financial information for the Council of Economic Advisors and any interested party to view. The metrics and dashboards linked below provide updated snapshots of budget and actual expenditures compared to projected expenditures, the state's general fund receipts and comparison with the most recent forecasts, and the balances of the cash flow account and trust funds.

COVID-19 Weekly Economic Dashboards

Updated: May 27, 2020
  • Estimated initial claims fell to 3,806 for the week ending May 16th. Initial claims for reemployment assistance reflect individuals who are initially filing for assistance.
  • Continued claims rose to 25,255 for the week ending May 16th. This number reflects the number of individuals who have already filed an initial claim, have experienced a week of unemployment and filed a continued claim for unemployment. This number will continue to rise as individuals who have filed an initial claim continue to file each week for assistance.
  • Job openings data is provided to demonstrate the demand for labor which could be a gauge of businesses longer term outlook on the economy.
  • From the statewide peak on March 19th, the Sioux Falls metropolitan statistical area (MSA) has experienced a decline of 23.2% in the number of posted job openings compared to 15.2% in the Rapid City MSA.
  • Statewide job openings are down 13.6% from their March 19th peak.
  • Travel spending is down by 77% or $52M from the same week in 2019 for the week ending May 16th.
  • The South Dakota Department of Transportation has 38 permanent traffic counters throughout the state. On these counters traffic has been down across all highway groups. The greatest impact has been in interstate traffic in rural areas and on state highways.
  • Video Lottery Net Machine Income was up 23.7% from the June to February weekly average for the week ending May 23rd. Net Machine Income (NMI) is defined as cash in minus prizes paid out. NMI is split with the machine owner (Operator) receiving 50%, the General Fund receives 49.5% and 0.5% goes to the Video Lottery Operating Fund to be used by the Lottery operate the Video Lottery Program.
 
May 27, 2020
May 19, 2020
May 12, 2020
May 5, 2020
April 27, 2020
April 20, 2020
April 13, 2020

 

Cash Balances

Updated: May 2020
 

 
  • The cash balance dashboards show the month-ending cash balance for the state general fund, budget reserve, general revenue replacement fund, and the total balance in the cash flow account.
  • The dashboards for the trust funds and SDRS pension plan show the fair market value.
  • The fair market values change based on investment returns.
  • The state’s reserve funds are considered the sum of the budget reserve fund and the general revenue replacement fund and typically remain constant throughout the fiscal year.
  • The cash flow account is comprised of more than five hundred different funds and fluctuates month-to-month and day-to-day based on the individual activity taking place in each of these funds. Major or notable funds represented in the cash flow account are listed separately.

General Fund
Cash Flow Account
South Dakota Retirement System
South Dakota Trust Funds

General Fund Receipts

Updated: May 2020
April collections are beginning to show the impact of COVID-19 on general fund revenues.

May 2020 General Fund Receipts
COVID-19's Delayed Impact on South Dakota

  • Sales tax was up 4.5% compared to a year ago (page 1), it is down 0.9% compared to the Legislative Revised estimate for the month of April (page 4).
         Selected Significant Decreases (Year over Year)
              Apparel and Accessory Stores -41.1%
              Hotels, Rooming Houses, Camps, and Other Lodging Places -35.9%
              Eating and Drinking places -21.8%
         Selected Significant Increases (Year over Year)
              Electric, Gas, and Sanitary Services +32.3%
              Building Materials, Hardware, Garden Supply +20.4%
              Food Stores +17.6%
         More details by SIC Code can be found on the DOR's Historical Tax Statistical Reports page.
  • Lottery has been significantly impacted by COVID-19. Many operators closed down, while others limited the number of players allowed to use their machines. This has led to revenues being down 40.1% compared to a year ago (page 1). 40.8% or $4.3 M compared to the Legislative Revised estimate for the month of April (page 4). Lottery revenues are down 3.6% or $3.5M Year-to-date compared to the Legislative Revised estimate through April (Page 5).
  • CET is up 13.3% compared to a year ago, it is up $0.3 M or 4.2% compared to the Legislative Revised estimate for the month of April and $0.2M or 0.2% year-to-date.
  • Insurance company tax is up $3.6 M compared to a year ago and $0.5M compared to the Legislative Revised estimate for April. YTD this category is up 6.8% compared to the Legislative Revised estimate.
  • Unclaimed property YTD unclaimed property is down $4.0M compared to FY2019, but is 5.9% greater than the Legislative Revised estimate.
  • License, Permits, and Fees is down $22.7M from a year ago and is down $9.6M year-to-date compared to the Legislative Revised estimate. Securities fees were not transferred to the general fund this month, the category should correct next month and should align more closely to projections.
  • Bank Franchise Tax is down $7.9M form a year ago and is down $4.2M year-to-date compared to the Legislative Revised estimate. The IRS extended the deadline for tax returns to July 15. State Bank Franchise tax filing deadlines have historically been extended for banks when an IRS extension is provided.
In total, ongoing general fund revenues were $18.1M lower than the estimate for the month of April. Ongoing revenues are down $5.6M year-to-date vs. the Legislative Revised estimates.

In addition to the general fund revenues, Tourism Tax Receipts are down by 28.5% compared to April of last year.
 
  • The general fund receipt dashboards show the most recent month-end and year-to-date receipts in all major categories for the state general fund.
  • The dashboards compare actual receipts to the prior year for the most recently completed month and on a year-to-date basis.
  • Actual receipts are also compared to the most recent Legislative adopted or Governor recommended forecast, as well as the original adopted forecast to gauge how well actual collections are performing compared to budgeted levels.

Remote Sellers link (SDDOR)

May 2020
April 2020
March 2020
February 2020
January 2020
December 2019
November 2019
October 2019
September 2019
August 2019
July 2019
June 2019
May 2019

Economic Dashboards

Updated: April 2020
 
 

The economic dashboards show the health of the South Dakota economy from a macroeconomic viewpoint using data on employment figures and government assistance programs.

  • The economic dashboards include statistics on unemployment claims, unemployment rates, employment levels and various other economic indicators. Many of the economic dashboards compare South Dakota to the national average to gauge the relative health of South Dakota’s economy to the United States.
  • Economic dashboards also include statistics on Medicaid, the Children’s Health Insurance Program (CHIP), and the Supplemental Nutrition Assistance Program (SNAP). This monthly data shows the change in utilization of these government assistance programs.

Economic Dashboards

Expenditures and Workforce

Updated: March 2020
 
 
  • The general fund expenditure dashboard shows a comparison of projected expenditures vs. the actual expenditures as of the end of the prior month.
  • The workforce utilization dashboards shows the Full Time Equivalent (FTE) utilization for the previous month and budgeted utilization compared to actual utilization, and the number of employees being paid each pay period. These numbers are for the state's central payroll system and do not include the University System or Authorities.

Expenditures



FTE Utilization and Workforce