Rounds: It's a 'rainy day' in South Dakota: Reserve fund to be tapped to help pay for damages

The state’s reserve funds are designed for times of need, Gov. Mike Rounds said Friday, and the second-term governor can’t imagine a better time than now to use them. Rounds said the state’s reserve fund, which totals approximately $40 million, is in place for a rainy day and three weeks after high winds, tornadoes and floods hit the eastern part of the state, “if this isn’t a rainy day, I don’t know what is.” Rounds, during a press conference Friday morning, said that of the approximately $5 million in current public damages caused by the storms that hit the weekend of May 5, he expects federal aid to cover 75 percent of costs. Rounds said he plans to recommend using state resources to cover the final 25 percent.

By: Korrie Wenzel, The Daily Republic