South Dakota owns more than it owes. |
South Dakota's Taxpayer Surplus™ is $5,200, and it received a "B" from TIA. |
South Dakota is a Sunshine State with enough assets to cover its debt. |
Elected officials have created a Taxpayer Surplus™, which is each taxpayer's share of money available after state bills have been paid. |
TIA's Taxpayer Surplus™ measurement incorporates both assets and liabilities, not just pension debt. |
South Dakota has $5.3 billion of assets available to pay the state's bills totaling $3.8 billion. |
South Dakota has $1.5 billion available after bills have been paid, which breaks down to $5,200 per taxpayer. |
South Dakota's reported net position is overstated by $154.9 million, largely because the state delays recognizing losses incurred when the net pension liability increases. |
The state's financial report was released 184 days after its fiscal year end, which is considered untimely according to the 180 day standard. |