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 2004	ACTUAL FY 2005	BUDGETED FY 2006	REQUESTED FY 2007	GOVERNOR'S RECOMMENDED FY 2007	RECOMMENDED INC/(DEC) FY 2007
FUNDING SOURCE:
General Funds	$0	$0	$0	$0	$0	$0
Federal Funds	0	0	0	0	0	0
Other Funds	302,796	314,644	355,808	355,808	368,000	12,192
Total	$302,796	$314,644	$355,808	$355,808	$368,000	$12,192
EXPENDITURE DETAIL:
Personal Services	$240,570	$268,314	$286,205	$286,205	$298,397	$12,192
Operating Expenses	62,225	46,330	69,603	69,603	69,603	0
Total	$302,796	$314,644	$355,808	$355,808	$368,000	$12,192
Staffing Level FTE:	4.7	4.9	5.0	5.0	5.0	0.0

	ACTUAL FY 2004	ACTUAL FY 2005	ESTIMATED FY 2006	ESTIMATED FY 2007
REVENUES:
Deposited to Securities Operating Fund:	$0	$0	$0	$0
Securities Registration Fees	106,821	69,734	88,000	70,000
Franchise Registration Fees	116,550	136,350	116,000	130,000
Franchise Exemption Fees	13,200	13,000	10,000	13,000
Business Opportunities Registration Fees	800	700	800	300
Securities Opinion Fees	1,250	100	750	200
Investment Company Notification Fees	14,130,600	15,142,300	13,600,000	15,000,000
Agent Licensing Fees	7,293,800	7,962,550	6,900,000	7,800,000
Broker-Dealer Licensing Fees	203,850	205,050	205,000	205,000
Investment Adviser Fees	4,150	4,800	2,500	4,500
Investment Adviser Agent Fees	42,100	47,600	35,000	47,000
I/A Notice Filings	106,600	117,400	104,000	113,000
Miscellaneous	2,825	7,240	0	7,000
Investment Council Interest	137,008	184,252	135,000	150,000
Private Placement/Reg. D506/Other	47,350	67,675	40,800	67,000
Fines	0	60,900	60,000	60,000
Total	$22,206,904	$24,019,651	$21,297,850	$23,667,000
PERFORMANCE INDICATORS:
New Securities Applications	78	73	65	71
Extensions and Amendments	52	56	35	50
Private Placement/Other Exemptions	7/181	1/278	8/157	1/270
Invest. Comp. Notice Filings--New/Total	2,301/15,855	2,310/16,433	2,100/15,200	2,300/16,000
New Franchise Applications/Registrations	183/505	221/658	170/525	220/650
Franchise Extensions/Exemptions	454/51	446/54	375/50	446/54
Business Opportunities--New/Total	7/16	7/5	7/15	7/5
Brokers-Dealers/B-D Agents Licensed	1,293/47,229	1,306/50,671	1,250/45,000	1,300/48,000
Investment Advisers/IA Agents Licensed	34/364	41/475	30/375	40/470
Transfers to General Fund (SDCL 4-4-4.4)	$21,861,680	$23,672,322	$23,500,000	$23,667,000

generated 11/29/05 12:38:06 PM