North Dakota Recommended Spending Percentages
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FAQ
North Dakota has $19.7 billion of assets available to pay the state's bills totaling $9.2 billion. North Dakota has $10.5 billion available after bills have been paid, which breaks down to $39,200 per taxpayer.
North Dakota's current budget North Dakota enacted its FY 2022-2023 biennial budget in May 2021. The enacted budget included $16.9 billion in total spending and $5 billion in general funds over the two years of the budget.
Every U.S. state other than Vermont has some form of balanced budget provision that applies to its operating budget. The precise form of this provision varies from state to state. Indiana has a state debt prohibition with an exception for "temporary and casual deficits," but no balanced budget requirement.
By law, the fiscal year 2021 surplus of $85.9 million was transferred to the state's budget reserves. The state's reserves now total $301.8 million, or 16.6% of the fiscal year 2022 general fund budget. The state has held a AAA credit rating with all three major credit agencies since 2016.
The North Dakota state Capitol in Bismarck, N.D. (The Center Square) Predictions from the North Dakota Office of Management and Budget (OMB) show a $380 million budget surplus when the biennial budget ends June 30, 2023.
North Dakota Economic Contribution and Impact Research In 2020, North Dakota generated around $7.3 billion in agricultural cash receipts with the highest valued commodities being soybeans, wheat, and corn.
North Dakota's combined state and local general revenues were $11.2 billion in FY 2019, or $14,660 per capita. National per capita general revenues were $10,563.
The Legislature had forecast general fund revenues at $5.4 billion for the two-year cycle, with a positive balance of about $710 million. Morrisette said the additional revenues mean the general fund will now have an ending balance of more than $1 billion.
