December 18, 2018 • Page 8 shop online at www.missourivalleyshopper.com We Don’t Spend Money We Don’t Have By Gov. Dennis Daugaard Every December, the state legislature meets to receive a budget proposal from the governor. This proposal is the starting point for the legislative budget process, which ends with the passage of a budget bill at the end of session in March. This week, I presented my last budget proposal to the legislature. This year was a little different, because Governor-elect Kristi Noem will be taking office in early January. Eight years ago, after I took office, I presented my own budget proposal, and I know the Governor-elect plans to do the same thing. The purpose of my budget was to provide updated information about revenue and expenses, and to create a starting point for Governor-elect Noem and the new legislature as they begin their work next year. Over the years, I have applied several core principles to state budgeting: We don’t spend money we don’t have. We use one-time revenues only for one-time expenses, and we fund annually recurring expenses with only recurring revenues. We maintain ten percent budget reserves, and we use those reserves only for emergencies, not to perpetuate overspending. We conservatively project revenue and expenses. We don’t use accounting gimmicks. We don’t balance by accelerating next year’s income into this year, or by pushing expenses into next year. We use one-time windfalls to repay debt, build or secure a new asset, or endow an ongoing expense. And we structurally balance our budget, every year. We balance our budget, not only because our state constitution requires it, but because it is the right thing to do. Some of those rules might seem like common sense, but there are many states which have departed from these responsible budgeting practices, and they have paid the price for it. Meanwhile, in South Dakota, we have taken several tangible steps to strengthen our financial practices. In 2012, South Dakota voters passed a constitutional amendment that explicitly required a balanced budget – it passed with 65% of the vote. In 2014, I proposed and the legislature approved legislation to require more frequent state revenue estimates, to identify any potential revenue shortfalls earlier in the budgeting process. That same year, I issued an executive order to require the posting of budget metrics on the state website at open.sd.gov to detail monthly expenditures, revenue collections, and cash balances. In 2014, our state used one-time windfalls to repay, early, $56.4 million in long-term bonds. In 2016, we early repaid another $42.3 million in bonds. In 2015, the state presented its first long-term financial plan, a five-year capital expenditure plan, and a debt limitation policy. These were initially required by executive order, and then placed into state law. We also placed new limits on the amount of debt that can be issued 3 ??????3K??3&??????3?3???Ž???? t , 3 ????3,Ž?????? through the South Dakota Building Authority. We have also accelerated the time it takes each year to complete the state’s audited financial statements. Last, but certainly not least, South Dakota has fully funded and proactively managed our strong retirement system. Many states have enormous unfunded pension liabilities. South Dakota is a shining star in this area. Our retirement system is 100% funded. Wisconsin and Washington are the only other states that can make this claim. While other states use unrealistic assumptions such as higher rates of return, the South Dakota Retirement system uses realistic assumptions and has made many adjustments over the past several years to assure it stays fully funded over the long term. As I leave office, South Dakota’s finances are the envy of the nation, and I am pleased to be turning over my office to Governor-elect Noem, who also believes in sound financial management. South Dakota is fortunate that generations of governors and legislators, of both parties, have worked together to keep us on a strong financial footing. I hope we never take that for granted. USDA Solid Waste Management Grant Promotes Safe Disposal Of Prescription Drugs HURON, S.D., Dec. 13, 2018 - USDA Rural Development is accepting applications for the Solid Waste Management Grant through Dec. 31, 2018, and priority points may be awarded to innovative projects that promote the safe disposal of prescription drugs in rural communities. Up to $4 million is available nationwide, with a $1 million individual project ceiling. USDA Rural Development State Director Julie Gross encourages communities that need to dispose of unused prescription drugs to contact the agency about the Solid Waste Management funding. “USDA is ready to partner with local leaders to help combat the opioid epidemic in South Dakota,” said Gross. “Helping rural families with local options to dispose of unused medications is a good step toward building healthy rural communities.” USDA Solid Waste Management Grants support the planning and management of solid waste sites. Rural communities, non-profit organizations, federally recognized tribes and academic institutions can apply. For more information in South Dakota contact Community Programs Director Tim Potts at (605) 858-6678 or by email at tim.potts@sd.usda.gov and visit Solid Waste Management Grants in South Dakota. The application deadline for the Solid Waste Management Grant Program is Dec. 31, 2018. Applications can be submitted electronically at www.Grants.gov or in hard copy to: USDA Rural Development Water and Environmental Programs, 1400 Independence Ave., SW, Room 5168, STOP 1522, Washington, DC 20250-1597. USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. With a portfolio of $224 billion, this agency's assistance supports infrastructure improvements; business development; homeownership; community services such as schools, public safety and health care; and highspeed internet access in rural areas. For more information, visit https://www.rd.usda.gov/sd. the Missouri Valley Shopper In print and online! www.missourivalleyshopper.com State Historical Society Announces Spring Deadwood Fund Grant Applications ^ 3 ??3h?3&Ž?34??3 z 3 Ž??3/????????3E???? ^ 3 ??????3???34???3^????3???? PIERRE, S.D. – The South Dakota State Historical Society announces that the applications for the first round of the 2019 Deadwood Fund grant program are due on Feb. 1, 2019, for work beginning no earlier than May 1, 2019. Grant forms are available online at http://history.sd.gov/preservation/ fundingopportunities.aspx. The program is designed to encourage restoration or rehabilitation of historic properties by individuals, organizations or public agencies, according to Jay D. Vogt, director of the State Historical Society, whose ? 3 Ž???3'???????3/?????3t?????? D 3 ?d?3?3Z?? ^ 3 ????3/???????? ? 3 ??3t?3???3^???3z????Ž??3^3?3???????? Participating BusinessesInterested in Are… this spot? historic preservation office administers the program. “It is one more way we can promote and protect our history and culture,” Vogt said. Grants will be awarded in amounts ranging from $1,000 to $25,000. The grant amount must be matched at least on a dollar-for-dollar basis from nonfederal and nonstate sources. Nonprofit organizations will be allowed to use in-kind services for one-half of their match. In 2017, $123,869 was awarded among 10 projects, which had matching funds of $360,498, resulting in a total public-private investment of $484,367. Funding for the program is from Deadwood gaming revenue earmarked by state law for historic preservation projects throughout the state and distributed by the State Historical Society. The second round of 2019 applications will be due Oct. 1, 2019, for work beginning no earlier than Jan. 1, 2020. For more information on the South Dakota State Historical Society’s Deadwood Fund grant program, contact the State Historic Preservation Office at the Cultural Heritage Center, 900 Governors Drive, Pierre, SD 57501-2217; telephone 605-773-3458. INTERESTED IN THIS SPOT? Call 665-5884 to place your ad here. 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