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: June 30, 2020
  • Estimated initial claims fell last week to 857 for the week ending June 20th. This does not include initial claims for Pandemic Unemployment Assistance which expanded eligibility to workers previously ineligible. Initial claims for reemployment assistance reflect individuals who are initially filing for assistance.
  • Continued claims fell to 17,052 for the week ending June 13th. This number reflects the number of individuals who have already filed an initial claim, have experienced a week of unemployment and file 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 19.6% in the number of posted job openings compared to 11.1% in the Rapid City MSA.
  • Statewide job openings are down 10.9% from their March 19th peak.
  • Travel spending was estimated to be down by 43% or $31M from the same week in 2019 for the week ending June 20th.
  • 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 12.6% from the June to February weekly average for the week ending June 27th. 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.
 
June 30, 2020

 

Expenditures and Workforce

Updated: June 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

General Fund Receipts

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

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

  • Year to Date, total general fund revenues are $4.4M or 0.3% less than the legislative revised estimate (page 5).
  • Tourism Tax revenues, which flow directly to the Department of Tourism to fund their operations, are down 3.1% year to date compared to last year with May being down 69.4% (page 7).
  • It appears that a couple of factors are supporting our general fund revenues on a one-time basis.
    • Through the 22nd of May the IRS has distributed approximately $760M in stimulus payments to South Dakotans. These payments are supporting our sales tax revenues through increased spending, particularly on online-purchases, hardware stores, and grocery stores. It is likely that spending in those categories will return to normal levels over the coming months.
    • Since March 16th South Dakotans have received $130.4M in reemployment assistance payments, $92.3M of which is related to the various programs created by the federal government since the beginning of the pandemic and is beyond what the state would have otherwise paid. These additional programs are set to mostly expire by the end of next month.
  • Below is a breakdown of the top five revenue categories:
    • Sales tax missed the legislative revised estimate by $6.2M or 7.1% for the month (page 4). Year-to-date, Sales tax is $6.1M lower than the legislative revised estimate through eleven months (Page 5).
    • Lottery was down from the legislative revised estimate by $1.2M or 12.3% for the month (page 4). Year-to-date the category is down$4.7M from the revised estimate (page 5).
    • CET was down 3.8% or $0.3M in May compared to the revised estimate. Year-to-date it is down $0.1M or 0.1% compared to the legislative revised estimate.
    • Insurance company tax was down $1.5M compared to a year ago. It is up $4.3M year-to-date compared to the legislative revised estimate.
    • Unclaimed property was $1.4M above the legislative adopted estimate for May. Year to date it is $4.0M above the adopted estimate.

 
  • 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)

June 2020
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: May 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

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