South Dakota Releases CAFR Ahead Of Schedule


Article Body

            Office of the Governor

500 E. Capitol Ave.

Pierre, S.D. 57501

(605) 773-3212

www.state.sd.us

 

 

 

 

FOR IMMEDIATE RELEASE: Friday, January 22, 2016

CONTACT: Jason Dilges, Bureau of Finance and Management, 605-773-3411

  

 

South Dakota Releases CAFR Ahead Of Schedule

 

PIERRE, S.D. –  Gov. Dennis Daugaard announced today that the state Bureau of Finance and Management has released for public review the South Dakota Comprehensive Annual Financial Report (CAFR) for the fiscal year which ended June 30, 2015, ahead of its Jan. 31 goal.

 

“Improving our state’s financial practices is one of my highest priorities,” Gov. Daugaard said. “My first year in office, the CAFR was released in June. This year the Bureau of Finance and Management has moved that release date up by five months and issued the report ahead of schedule. This combined with our long-term financial plan, capital expenditure plan and debt management plan will help institutionalize our state’s strong financial practices for generations to come.”

 

The annual report contains state government’s complete financial statements and other financial information. The Basic Financial Statements are audited by the Department of Legislative Audit. The CAFR received an unqualified “clean” opinion for the 29th consecutive year.

 

Also contained in the report is information about the state’s economic conditions and outlook, the profile of the government, major initiatives, and 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.

 

Here are a few financial highlights reported in the FY2015 CAFR:

 

  • The state’s total net position increased by $162 million, or 4.2 percent from the prior year.
  • The state’s governmental funds reported combined ending fund balances of $1.8 billion, an increase of $35.6 million, or 2 percent from the prior year.
  • At the end of the fiscal year, the General Fund had a fund balance of $318.1 million. 
  • Proprietary funds reported net position at year-end of $695.1 million, an increase of $53.8 million, or 8.4 percent from the prior year.
  • The state reported a Net Pension Asset of $159 million at the end of the fiscal year.

 

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

 

-30-