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Gambling revenues to cities rise in 2008
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FarkDEADWOOD -- The South Dakota Commission on Gaming has computed its annual funds distributions to local cities and tallied another record number.
After Deadwood's share of gambling revenues reaches $6.8 million, any remaining tax and license money is distributed to the state and to Lawrence County cities and school districts. The commission sends the money to Spearfish, Lead, Whitewood and Central City, based on a revenue formula in state law.
The total payout to the cities is up about 7 percent over last year.
The breakdown of payments to cities is as follows:
- Central City: $3,618.93 (The city received $3,494.62 in 2007, $2,418.46 in 2006 and $1,979.56 in 2005.)
- Lead: $75,001.01 (The city received $72,163.80 in 2007, $49,561.70 in 2006 and $40,402.18 in 2005.)
- Spearfish: $252,984.16 (The city received $233,515.17 in 2007, $154,596.91 in 2006 and $121,935.13 in 2005.)
- Whitewood: $21,346.44 (The city received $20,618.23 in 2007, $14,090.92 in 2006 and $11,602.40 in 2005.)
The checks are in the process of being issued in Pierre, according to Larry Eliason, South Dakota Commission on Gaming's executive director.
The total payout to the cities is about 7 percent more than last year.
Lead-Deadwood Schools keep the money
The Lead-Deadwood School District will get to keep the $104,939.20, its portion of the proceeds this year, and will not have to offset it by losing an equal amount of state aid. Superintendent Dan Leikvold said the money would be rolled into the general fund and is not earmarked for any special purpose. The district budgeted for the income at approximately $90,000.
The district recieves no state aid because it has a high enough valuation in its property tax base to pay for its general fund. Last year the school turned back $101,910.
Spearfish, Whitewood, Belle Fourche schools can’t keep their money
The money is tantalizingly close for the Spearfish school district. The district will recieve a check also, but that same amount is deducted from its state aid dollars, making the transaction a “push.” The Spearfish School District will pass $239,831 back to the state in the deal. Other school districts get a check because students living in Lawrence County attend those schools. The Meade School District (which incorporates Whitewood) will send back $8,063.05. Belle Fourche gets $116.46, which essentially goes back to the state.
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