BFM Highlights Strong Growth and AAA Credit Rating in FY 2025 Financial Report

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FOR IMMEDIATE RELEASE

December 31, 2025

Contact: Colin Keeler

BFM Highlights Strong Growth and AAA Credit Rating in FY 2025 Financial Report

PIERRE, S.D. - Today, the Bureau of Finance and Management (BFM) highlighted our state's strong growth and AAA credit rating by releasing South Dakota's Annual Comprehensive Financial Report (ACFR) for fiscal year 2025.

"South Dakota's fiscal integrity is the cornerstone of our state, and a well-managed government drives economic growth," said Governor Larry Rhoden. "Guided by fiscal conservatism, we will keep taxes low, limit regulation, maintain our AAA credit rating, identify efficiencies, and enhance transparency."

The ACFR provides audited financial statements for South Dakota's state government, reflecting collaboration between BFM, state agencies, and the Department of Legislative Audit.

Highlights from the fiscal year 2025 ACFR include:

• The State's net position grew to $10.3 billion, up $488.8 million (5%) from last year;
• The General Fund balance reached $1.7 billion, an increase of $68.4 million (4.3%) since last year;
• The State avoided new debt by setting aside $593.2 million in the Incarceration Construction Fund; and
• AAA credit rating maintained for nine consecutive years by all three major agencies.

View the full ACFR online at https://bfm.sd.gov/ACFR/. For printed copies, call BFM at 605-773-3411.

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