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Truth in Accounting releases South Dakota report


SIOUX FALLS, S.D. (KELO AM) - According to Truth in Accounting, a nonpartisan Chicago-based think tank, South Dakota is one of only nine states with enough available assets to cover its debt.

T-I-A Founder Sheila Weinberg says after bills are paid South Dakota has over $764 million in available assets or a surplus of $2,700 for each taxpayer.

Weinberg says the Taxpayer Burden is the amount each taxpayer would have to send to their state's treasury to fill its current financial obligation.  South Dakota is in the top five of states with the best fiscal health.

Last year in South Dakota, T-I-A calculated $3 billion in state bills.  It paid $3 billion in bills and had assests of $764 million after state debt is paid.

Weinberg says most states’ debt burden comes from unfunded pension liabilities.