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Gov. Daugaard Announces The Release Of The Fiscal Year 2017 CAFR





Office of Gov. Dennis Daugaard

500 E. Capitol Ave.

Pierre, S.D. 57501

605-773-3212

www.sd.gov

 

 

 

 

FOR IMMEDIATE RELEASE:  Tuesday, January 2, 2018

CONTACT:  Liza Clark, Bureau of Finance and Management, 605-773-3411

 

EDITORS/NEWS DIRECTORS:  For video and audio from the Governor on the CAFR, visit news.sd.gov/media.aspx and click on “Video” or “Audio” under “Governor Dennis Daugaard.”

 

 

Gov. Daugaard Announces The Release Of The Fiscal Year 2017 CAFR

 

PIERRE, S.D.  – The state’s Comprehensive Annual Financial Report (CAFR) for fiscal year 2017 is now available for the public to review. The South Dakota Bureau of Finance and Management (BFM) made the report public on Friday, Dec. 29, 2017, meeting its goal of a December release.

 

“I commend the employees of BFM, the Department of Legislative Audit and all state agency accounting offices for their dedication in preparing the CAFR. During my term in office, the hardworking state employees have accelerated the release date of this report making this the second consecutive CAFR to be issued within 6 months,” Gov. Dennis Daugaard said.

 

The annual report includes the state government’s complete financial statements. The Department of Legislative Audit audits the basic financial statements and, for the 31st consecutive year, Legislative Audit issued an unmodified “clean” opinion on the CAFR.

 

Also contained in the report is information about the state’s economic conditions and outlook, the profile of the government, major initiatives and a financial analysis of the state’s funds. A discussion of those topics can be found in the “Letter of Transmittal” and “Management’s Discussion and Analysis”.

 

Highlights from the fiscal year 2017 CAFR include:

 

  • The state ended fiscal year 2017 with a total net position of $6.5 billion.
  • The state’s total net position increased by $258.9 million, or 4.1 percent from the prior year.
  • At the end of the fiscal year, the general fund had a fund balance of $313.7 million. 
  • Proprietary funds reported net position at year-end of $732.9 million, an increase of $13.2 million, or 1.8 percent from the prior year.

 

The CAFR can be viewed online at bfm.sd.gov/cafr, or for printed copies, contact the Bureau of Finance and Management at 605-773-3411.

 

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