South Dakota has ended its 2014 fiscal year with a surplus for the third time in three years, Rapid City Journal reports.
The savings is largely attributed to savings in the state's Medicaid program. The general fund budget on June 30 had $2.6 million more revenue than legislators initially estimated in March. Governor Daugarrd stated that budget spending was under $7.2 million, making for a $9.8 million surplus on the $1.3 billion general fund budget.
Around $6.3 million in savings on Medicaid and the Children's Health Insurance Program (CHIP) led to a drop in anticipated spending, according to the Argus Leader.
"This marks the third year in a row that we have maintained structural balance in our budget. This was my No. 1 priority when I took office," Gov. Daugaard said in a statement.