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 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	1,641,548	1,571,710	1,714,026	1,714,026	1,770,124	56,098
Total	$1,641,548	$1,571,710	$1,714,026	$1,714,026	$1,770,124	$56,098
EXPENDITURE DETAIL:
Personal Services	$1,187,801	$1,240,819	$1,313,861	$1,313,861	$1,369,959	$56,098
Operating Expenses	453,747	330,891	400,165	400,165	400,165	0
Total	$1,641,548	$1,571,710	$1,714,026	$1,714,026	$1,770,124	$56,098
Staffing Level FTE:	27.1	27.9	28.5	28.5	28.5	0.0

	ACTUAL FY 2004	ACTUAL FY 2005	ESTIMATED FY 2006	ESTIMATED FY 2007
REVENUES:
Taxes Collected (General Fund)	$51,105,292	$55,166,528	$55,000,000	$55,000,000
Fees (Insurance Operating Fund):	0	0	0	0
Admission	76,169	85,695	85,000	85,000
Company Renewal	82,495	79,900	80,000	80,000
Agent Licensing/Renewal	3,898,952	3,964,580	3,900,000	3,960,000
Exam Fees	13,690	12,050	12,000	12,000
Miscellaneous and Legal	12,237	19,023	14,000	14,000
Retaliatory/Filing	762,630	863,812	850,000	850,000
Administrative Penalties	50,428	151,405	70,000	70,000
Lists and Labels	5,605	5,970	5,000	5,000
Certification Letters	32,175	27,460	28,000	28,000
Investment Council Interest	37,252	19,406	19,000	19,000
Course Approval	21,975	21,275	21,500	21,500
Subsequent Injury Fund:	0	0	0	0
Sub-Injury Fund Assessment	5,124,227	7,555,804	5,000,000	5,000,000
Investment Council Interest	39,661	33,150	33,000	33,000
Continuing Education Fund:	0	0	0	0
Agent Renewal Fees (Biennial renewal)	43,565	570	44,000	0
Investment Council Interest	2,499	1,341	1,300	1,300
Special Collections for Workers Comp	0	0	0	0
Policy Fee (Transferred to Dept. of Labor)	178,026	253,463	220,000	220,000
Examination Fund (Effective 7-1-97)	420,300	418,800	420,000	420,000
Investment Council Interest	42,773	19,567	20,000	20,000
Total	$61,949,951	$68,699,799	$65,822,800	$65,838,800
PERFORMANCE INDICATORS:
Total Licensed/Domestic Companies	1,412/48	1,373/47	1,400/45	1,420/45
Companies Licensed/Approved Mergers	26	25	30	30
Agent Licenses Issued	9,863	9,461	9,500	9,500
Transfer to General Fund (SDCL 4-4-4.4)	$2,879,940	$3,323,695	$3,000,000	$3,000,000

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