|
GOVERNOR'S RECOMMENDED FY 2008 BUDGET |
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 2005ACTUAL
FY 2006BUDGETED
FY 2007REQUESTED
FY 2008GOVERNOR'S RECOMMENDED
FY 2008RECOMMENDED INC/(DEC)
FY 2008
FUNDING SOURCE:
General Funds
$0
$0
$0
$0
$0
$0
Federal Funds
0
0
0
0
0
0
Other Funds
314,644
319,604
368,000
368,000
379,355
11,355
Total
$314,644
$319,604
$368,000
$368,000
$379,355
$11,355
EXPENDITURE DETAIL:
Personal Services
$268,314
$276,656
$298,397
$298,397
$309,752
$11,355
Operating Expenses
46,330
42,948
69,603
69,603
69,603
0
Total
$314,644
$319,604
$368,000
$368,000
$379,355
$11,355
Staffing Level FTE:
4.9
5.0
5.0
5.0
5.0
0.0
| ACTUAL FY 2005 |
ACTUAL FY 2006 |
ESTIMATED FY 2007 |
ESTIMATED FY 2008 |
|
| REVENUES: | ||||
| Deposited to Securities Operating Fund: | $0 | $0 | $0 | $0 |
| Securities Registration Fees | 69,734 | 66,184 | 70,000 | 66,000 |
| Franchise Registration Fees | 136,350 | 155,600 | 130,000 | 165,000 |
| Franchise Exemption Fees | 13,000 | 12,750 | 13,000 | 0 |
| Business Opportunities Registration Fees | 700 | 300 | 300 | 300 |
| Securities Opinion Fees | 100 | 100 | 200 | 200 |
| Investment Company Notification Fees | 15,142,300 | 16,001,800 | 15,000,000 | 16,000,000 |
| Agent Licensing Fees | 7,962,550 | 8,383,750 | 7,800,000 | 8,000,000 |
| Broker-Dealer Licensing Fees | 205,050 | 205,950 | 205,000 | 205,000 |
| Investment Adviser Fees | 4,800 | 4,200 | 4,500 | 4,500 |
| Investment Adviser Agent Fees | 47,600 | 56,100 | 47,000 | 56,000 |
| I/A Notice Filings | 117,400 | 131,200 | 113,000 | 130,000 |
| Miscellaneous | 7,240 | 3,445 | 7,000 | 7,000 |
| Investment Council Interest | 184,252 | 113,206 | 150,000 | 150,000 |
| Private Placement/Reg. D506/Other | 67,675 | 93,750 | 67,000 | 93,000 |
| Fines | 60,900 | 306,351 | 60,000 | 60,000 |
| Total |
$24,019,651 |
$25,534,686 |
$23,667,000 |
$24,937,000 |
| PERFORMANCE INDICATORS: | ||||
| New Securities Applications | 73 | 97 | 71 | 71 |
| Extensions and Amendments | 56 | 62 | 50 | 50 |
| Private Placement/Other Exemptions | 1/278 | 1/378 | 1/270 | 1/270 |
| Invest. Comp. Notice Filings--New/Total | 2,310/16,433 | 2,757/17,863 | 2,300/16,000 | 2,300/16,000 |
| New Franchise Applications/Registrations | 221/658 | 274/735 | 220/650 | 220/650 |
| Franchise Extensions/Exemptions | 446/54 | 482/50 | 446/54 | 446/0 |
| Business Opportunities--New/Total | 7/5 | 1/2 | 7/5 | 7/5 |
| Brokers-Dealers/B-D Agents Licensed | 1,306/50,671 | 1,314/53,765 | 1,300/48,000 | 1,300/50,000 |
| Investment Advisers/IA Agents Licensed | 41/475 | 40/631 | 40/470 | 40/470 |
| Transfers to General Fund (SDCL 4-4-4.4) | $23,672,322 | $24,995,952 | $23,000,000 | $24,250,000 |