PIERRE, S.D. -- State government dipped into a reserve fund for $14.8 million to balance its budget at the end of the fiscal year, Gov. Mike Rounds said Friday.
"The $14.8 million shortfall was partly due to revenue collections coming in nearly $1 million less than what we forecast in March," said Jason Dilges, director of the state Bureau of Finance and Management.
"However, we were pleased this shortfall was lessened because our state agencies cut back spending by nearly$1.9 million," he said in a statement. State government's budget year runs from July 1 to June 30.
