MISSION:
To plan, implement, and administer income replacement programs that give all SDRS members and their families the opportunity to achieve financial security at retirement, death, or disability by providing an outstanding, appropriate, and equitable level of benefits.

	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	2,547,837	2,678,738	2,703,806	2,889,039	2,889,039	185,233
Total	$2,547,837	$2,678,738	$2,703,806	$2,889,039	$2,889,039	$185,233
EXPENDITURE DETAIL:
Personal Services	$1,181,113	$1,310,172	$1,386,468	$1,508,201	$1,508,201	$121,733
Operating Expenses	1,366,724	1,368,565	1,317,338	1,380,838	1,380,838	63,500
Total	$2,547,837	$2,678,738	$2,703,806	$2,889,039	$2,889,039	$185,233
Staffing Level FTE:	26.5	28.1	28.2	31.0	31.0	2.8

	ACTUAL FY 2002	ACTUAL FY 2003	ESTIMATED FY 2004	ESTIMATED FY 2005
REVENUES:
Contributions	$124,212,000	$153,000,000	$160,000,000	$174,000,000
Investment Income	-,238,000,000	210,000,000	364,000,000	400,000,000
Benefits Paid	-,166,370,000	-,179,000,000	-,190,000,000	-,218,000,000
Refunds Paid	-22,927,000	-24,000,000	-25,000,000	-21,000,000
Total	$-,303,085,000	$160,000,000	$309,000,000	$335,000,000
PERFORMANCE INDICATORS:
Budget Compared to Assets	.056%	.059%	.057%	.054%
Budget Compared to Benefits	1.6%	1.5%	1.5%	1.3%
Budget Compared to Contributions	2.1%	1.8%	1.7%	1.7%
Members Per FTEs	2,212	2,252	2,081	2,145

generated 12/01/03 10:27:02 AM