S.D. Codified Laws § 1-45-38
There is hereby created the School Finance Accountability Board within the Department of Education. The board shall consist of five members appointed by the Governor. The members shall serve a term of four years.
The board may recommend that the provisions of § 13-13-73.5 be waived for a school district if the district can demonstrate that its lowest monthly general cash fund cash balance percentage is the result of special circumstances.
The board may recommend that a penalty against a school district imposed under § 13-13-73.9 be waived, in whole or in part, if the district can demonstrate that its failure to comply with § 13-13-73.6 or 13-13-73.8 is due to special circumstances. The board may recommend the Department of Education review the accreditation of a school district that is found not to be complying with §§ 13-13-73.5, 13-13-73.6, or 13-13-73.8.
The School Finance Accountability Board shall promulgate rules pursuant to chapter 1-26 to establish the appeals process provided for in § 13-13-73.9, and to establish the factors that may be considered in considering a waiver requested by a school district, which shall include the impact of retirements.
The Joint Committee on Appropriations or the Interim Committee on Appropriations shall review any waivers of § 13-13-73.5, 13-13-73.6, or 13-13-73.8 recommended by the School Finance Accountability Board. For a waiver recommended by the board under this section, the committee may provide any suggested change to the waiver. Not more than thirty days following receipt of a suggested change from the committee, the board may amend the recommended waiver in accordance with the suggested change and shall resubmit the recommended waiver. The Joint Committee on Appropriations or the Interim Committee on Appropriations shall approve, amend, or deny any waiver recommended by the board. The Department of Education shall annually report to the Governor and the Legislature the information collected pursuant to §§ 13-8-47 and 13-13-73.6.
SDCL 1-45-38