PIERRE, S.D. - On December 31, 2024, the Bureau of Finance and Management (BFM) released South Dakota’s Annual Comprehensive Financial Report (ACFR) for fiscal year 2024. The ACFR is the audited financial statements for state government and represents the collective effort of BFM, the state agencies, and the Department of Legislative Audit.

Highlights from the fiscal year 2024 ACFR include:

- The State’s ending net position for the year is $9.9 billion which is an increase of $667.5 million or 7.2% from the prior fiscal year;
- At the end of the fiscal year, the total fund balance of the General Fund was $1.6 billion, an increase of $229.1 million, or 16.8% from the prior fiscal year;
- The State has set aside $612.5 million for the Incarceration Construction Fund to build new prisons. By funding these projects with existing funds, the need to issue debt is avoided; and
- The State has maintained its AAA public issuer rating from Standard & Poor’s, Fitch Ratings, and Moody’s for the past eight fiscal years. This represents the highest rating for all three bond rating agencies.

The ACFR can be viewed online at bfm.sd.gov, or for printed copies, contact BFM at 605-773-3411.