MISSION:
To review insurance company forms and rates for compliance with the law; to regulate insurance sales practices by investigating all inquiries and complaints; to license insurance producers and corporations; to issue and renew agent appointments; to register utilization review organizations; to approve and monitor managed care plans and utilization review organizations' compliance with grievance procedures; to examine domestic insurance companies and foreign insurance companies doing business in South Dakota; to assist consumers in recovering disputed claims and premium refunds; to issue interpretive opinions on the state's insurance laws; to administer the collection and auditing of premium taxes and fees; to administer the state insurance agent continuing education program; to administer the subsequent injury fund; and, to administer the Insurance Fraud Prevention Unit.

	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	1,467,720	1,641,548	1,716,054	1,723,908	1,678,908	(37,146)
Total	$1,467,720	$1,641,548	$1,716,054	$1,723,908	$1,678,908	($37,146)
EXPENDITURE DETAIL:
Personal Services	$1,108,580	$1,187,801	$1,323,743	$1,323,743	$1,278,743	($45,000)
Operating Expenses	359,140	453,747	392,311	400,165	400,165	7,854
Total	$1,467,720	$1,641,548	$1,716,054	$1,723,908	$1,678,908	($37,146)
Staffing Level FTE:	26.3	27.1	28.5	28.5	28.5	0.0

	ACTUAL FY 2003	ACTUAL FY 2004	ESTIMATED FY 2005	ESTIMATED FY 2006
REVENUES:
Taxes Collected (General Fund)	$49,838,203	$51,105,292	$52,000,000	$53,000,000
Fees (Insurance Operating Fund):	0	0	0	0
Admission	67,788	76,169	76,000	76,000
Company Renewal	83,495	82,495	82,000	82,000
Agent Licensing/Renewal	3,826,934	3,898,952	3,900,000	3,900,000
Miscellaneous and Legal	10,362	12,237	12,000	12,000
Retaliatory/Filing	632,977	762,630	760,000	760,000
Administrative Penalties	190,000	50,428	70,000	70,000
Lists and Labels	4,315	5,605	5,000	5,000
Certification Letters	42,300	32,175	32,000	32,000
Investment Council Interest	36,157	37,252	36,000	36,000
Course Approval	22,190	21,975	22,000	22,000
Subsequent Injury Fund:	0	0	0	0
Sub-Injury Fund Assessment	7,544,793	5,124,227	5,000,000	5,000,000
Investment Council Interest	51,759	39,661	39,000	38,500
Continuing Education Fund:	0	0	0	0
Agent Renewal Fees	44,620	43,565	44,000	44,000
Investment Council Interest	3,185	2,499	2,400	2,400
Special Collections for Workers Comp	0	0	0	0
Policy Fee (Transferred to Dept. of Labor)	235,897	178,026	178,000	178,000
Examination Fund (Effective 7-1-97)	444,000	420,300	420,300	420,300
Investment Council Interest	47,969	42,773	42,000	42,000
Total	$63,126,944	$61,936,261	$62,720,700	$63,720,200
PERFORMANCE INDICATORS:
Total Licensed/Domestic Companies	1,438/50	1,412/48	1,400/46	1,400/45
Companies Licensed/Approved Mergers	21	26	30	30
Agent Licenses Issued	10,486	9,863	9,500	9,500
Transfer to General Fund (SDCL 4-4-4.4)	$3,456,760	$2,879,940	$2,880,000	$2,880,000

generated 12/06/04 03:40:33 PM