STATE GOVERNMENT FINANCES
(Amounts are in thousands.  Per capita in dollars.)

                                                      Percent           Per
SOUTH DAKOTA                                 1994 Distribution       capita

Population (thousands)                        721           -             -
Total Revenue                           2,041,314       100.0%     2,831.23
  General revenue                       1,741,167        85.3%     2,414.93
    Intergovernmental revenue             662,285        32.4%       918.56
    Taxes                                 659,225        32.3%       914.32
      General sales                       339,039        16.6%       470.23
      Selective sales                     173,134         8.5%       240.13
      License taxes                        79,798         3.9%       110.68
      Individual income                         0         0.0%         0.00
      Corporation net income               36,540         1.8%        50.68
      Other taxes                          30,714         1.5%        42.60
    Current charges                       171,895         8.4%       238.41
    Miscellaneous general revenue         247,762        12.1%       343.64
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue                 300,147        14.7%       416.29

Total Expenditure                       1,825,640       100.0%     2,532.09
  Intergovernmental expenditure           300,224        16.4%       416.40
  Direct expenditure                    1,525,416        83.6%     2,115.69
    Current operation                   1,050,597        57.5%     1,457.14
    Capital outlay                        236,284        12.9%       327.72
    Insurance benefits and repayments      86,546         4.7%       120.04
    Assistance and subsidies               37,731         2.1%        52.33
    Interest on debt                      114,258         6.3%       158.47
Exhibit:  Salaries and wages              351,833        19.3%       487.98

Total expenditure                       1,825,640       100.0%     2,532.09
  General expenditure                   1,739,094        95.3%     2,412.06
        Intergovernmental expenditure     300,224        16.4%       416.40
        Direct expenditure              1,438,870        78.8%     1,995.66
  General expenditure, by function:
      Education                           516,773        28.3%       716.74
      Public welfare                      357,829        19.6%       496.30
      Hospitals                            46,247         2.5%        64.14
      Health                               55,038         3.0%        76.34
      Highways                            266,477        14.6%       369.59
      Police protection                    15,756         0.9%        21.85
      Correction                           41,866         2.3%        58.07
      Natural resources                    72,179         4.0%       100.11
      Parks and recreation                 14,821         0.8%        20.56
      Governmental administration          76,302         4.2%       105.83
      Interest on general debt            114,258         6.3%       158.47
      Other and unallocable               161,548         8.8%       224.06
  Utility expenditure                           0         0.0%         0.00
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure              86,546         4.7%       120.04

Debt at end of fiscal year              1,680,487       100.0%     2,330.77

Cash and Security Holdings              4,196,226       100.0%     5,820.01