MISSION:
To examine securities products, franchise offering circulars, and business opportunities plans; to register, renew, exempt, or amend securities and franchise documents; to license investment advisers, investment adviser agents, broker dealers and securities agents; to investigate and resolve all complaints; to investigate all alleged fraudulent schemes and take appropriate administrative action or recommend civil or criminal action, or both; to cooperate and coordinate with other state, local, or federal agencies; and, to inform and educate the investing public about franchise and securities purchases.

	ACTUAL FY 2002	ACTUAL FY 2003	BUDGETED FY 2004	REQUESTED FY 2005	GOVERNOR'S RECOMMENDED FY 2005	RECOMMENDED INC/(DEC) FY 2005
FUNDING SOURCE:
General Funds	$0	$0	$0	$0	$0	$0
Federal Funds	0	0	0	0	0	0
Other Funds	282,027	259,163	372,807	361,853	361,853	(10,954)
Total	$282,027	$259,163	$372,807	$361,853	$361,853	($10,954)
EXPENDITURE DETAIL:
Personal Services	$213,987	$208,741	$292,204	$292,250	$292,250	$46
Operating Expenses	68,040	50,422	80,603	69,603	69,603	(11,000)
Total	$282,027	$259,163	$372,807	$361,853	$361,853	($10,954)
Staffing Level FTE:	5.2	4.5	6.0	6.0	6.0	0.0

	ACTUAL FY 2002	ACTUAL FY 2003	ESTIMATED FY 2004	ESTIMATED FY 2005
REVENUES:
Deposited to Securities Operating Fund:	$0	$0	$0	$0
Securities Registration Fees	57,756	191,622	64,000	185,000
Franchise Registration Fees	101,050	115,530	100,000	100,000
Franchise Exemption Fees	9,250	11,250	9,500	10,000
Business Opportunities Registration Fees	1,350	1,600	1,350	1,350
Securities Opinion Fees	8,250	1,800	3,000	1,500
Investment Company Notification Fees	13,564,550	13,760,200	13,650,000	13,600,000
Agent Licensing Fees	7,470,925	6,907,425	7,500,000	6,900,000
Broker-Dealer Licensing Fees	221,100	205,350	220,000	205,000
Investment Adviser Fees	2,400	3,000	2,600	2,500
Investment Adviser Agent Fees	32,050	37,450	32,000	35,000
I/A Notice Filings	103,100	109,450	104,000	104,000
Miscellaneous	671	2,471	1,000	1,000
Investment Council Interest	300,055	232,955	300,000	230,000
Private Placement/Reg. D506/Other	32,650	34,550	33,000	33,000
Total	$21,905,157	$21,614,653	$22,020,450	$21,408,350
PERFORMANCE INDICATORS:
New Securities Applications	46	104	55	100
Extensions and Amendments	46	33	50	35
Private Placement/Other Exemptions	13/155	8/157	15/160	8/157
Invest. Comp. Notice Filings--New/Total	2,101/15,107	2,182/15,424	2,100/15,200	2,100/15,200
New Franchise Applications/Registrations	162/520	185/545	170/525	170/525
Franchise Extensions/Exemptions	327/29	372/38	330/35	330/35
Business Opportunities--New/Total	11/15	14/17	15/15	15/15
Brokers-Dealers/B-D Agents Licensed	1,411/47,833	1,300/44,449	1,411/47,833	1,300/43,000
Investment Advisers/IA Agents Licensed	29/577	20/488	35/600	20/480
Transfers to General Fund (SDCL 4-4-4.4)	$21,614,937	$21,614,473	$21,720,450	$21,408,350

generated 12/01/03 10:08:33 AM