REVENUE AND REGULATION
GOVERNOR'S RECOMMENDED FY 2006 BUDGET
0262 Securities

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 2003
ACTUAL
FY 2004
BUDGETED
FY 2005
REQUESTED
FY 2006
GOVERNOR'S RECOMMENDED
FY 2006
RECOMMENDED INC/(DEC)
FY 2006
FUNDING SOURCE:
   General Funds $0 $0 $0 $0 $0 $0
   Federal Funds 0 0 0 0 0 0
   Other Funds 259,164 302,796 347,883 347,929 347,929 46
      Total $259,164 $302,796 $347,883 $347,929 $347,929 $46
 
EXPENDITURE DETAIL:
   Personal Services $208,741 $240,570 $278,280 $278,326 $278,326 $46
   Operating Expenses 50,422 62,225 69,603 69,603 69,603 0
      Total $259,164 $302,796 $347,883 $347,929 $347,929 $46
 
Staffing Level FTE: 4.5 4.7 5.0 5.0 5.0 0.0

  ACTUAL
FY 2003

ACTUAL
FY 2004

ESTIMATED
FY 2005

ESTIMATED
FY 2006

REVENUES:  
   Deposited to Securities Operating Fund: $0 $0 $0 $0
   Securities Registration Fees 191,622 106,821 185,000 88,000
   Franchise Registration Fees 115,530 116,550 100,000 116,000
   Franchise Exemption Fees 11,250 13,200 10,000 10,000
   Business Opportunities Registration Fees 1,600 800 1,350 800
   Securities Opinion Fees 1,800 1,250 1,500 750
   Investment Company Notification Fees 13,760,200 14,130,600 13,600,000 13,600,000
   Agent Licensing Fees 6,907,425 7,293,800 6,900,000 6,900,000
   Broker-Dealer Licensing Fees 205,350 203,850 205,000 205,000
   Investment Adviser Fees 3,000 4,150 2,500 2,500
   Investment Adviser Agent Fees 37,450 42,100 35,000 35,000
   I/A Notice Filings 109,450 106,600 104,000 104,000
   Miscellaneous 2,471 2,825 1,000 0
   Investment Council Interest 232,955 137,008 230,000 135,000
   Private Placement/Reg. D506/Other 34,550 47,350 33,000 40,800
      
Total

$21,614,653

$22,206,904

$21,408,350

$21,237,850
PERFORMANCE INDICATORS:  
   New Securities Applications 104 78 100 65
   Extensions and Amendments 33 52 35 35
   Private Placement/Other Exemptions 8/157 7/181 8/157 8/157
   Invest. Comp. Notice Filings--New/Total 2,182/15,424 2,301/15,855 2,100/15,200 2,100/15,200
   New Franchise Applications/Registrations 185/545 183/505 170/525 170/525
   Franchise Extensions/Exemptions 372/38 454/51 330/35 375/50
   Business Opportunities--New/Total 14/17 7/16 15/15 7/15
   Brokers-Dealers/B-D Agents Licensed 1,300/44,449 1,293/47,229 1,300/43,000 1,250/45,000
   Investment Advisers/IA Agents Licensed 20/488 34/364 20/480 30/375
   Transfers to General Fund (SDCL 4-4-4.4) $21,614,473 $21,861,680 $21,750,000 $21,750,000

generated 12/06/04 03:40:24 PM