REVENUE AND REGULATION
GOVERNOR'S RECOMMENDED FY 2008 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 2005
ACTUAL
FY 2006
BUDGETED
FY 2007
REQUESTED
FY 2008
GOVERNOR'S RECOMMENDED
FY 2008
RECOMMENDED 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

generated 12/05/06 10:44:21 AM