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 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	1,571,710	1,540,990	1,735,124	1,735,124	1,787,058	51,934
Total	$1,571,710	$1,540,990	$1,735,124	$1,735,124	$1,787,058	$51,934
EXPENDITURE DETAIL:
Personal Services	$1,240,819	$1,283,108	$1,369,959	$1,369,959	$1,421,893	$51,934
Operating Expenses	330,891	257,881	365,165	365,165	365,165	0
Total	$1,571,710	$1,540,990	$1,735,124	$1,735,124	$1,787,058	$51,934
Staffing Level FTE:	27.9	27.8	28.5	28.5	28.5	0.0

	ACTUAL FY 2005	ACTUAL FY 2006	ESTIMATED FY 2007	ESTIMATED FY 2008
REVENUES:
Taxes Collected (General Fund)	$55,166,528	$55,298,267	$55,000,000	$55,000,000
Fees (Insurance Operating Fund):	0	0	0	0
Admission	85,695	99,402	100,000	100,000
Company Renewal	79,900	83,770	85,000	85,000
Agent Licensing/Renewal	3,964,580	1,995,280	6,000,000	4,000,000
Exam Fees	12,050	13,210	13,500	13,500
Miscellaneous and Legal	19,023	19,636	19,500	19,500
Retaliatory/Filing	863,812	945,915	950,000	950,000
Administrative Penalties	151,405	51,978	52,000	52,000
Lists and Labels	5,970	6,140	6,000	6,000
Certification Letters	27,460	11,920	11,500	11,500
Investment Council Interest	19,406	21,418	21,000	21,000
Course Approval	21,275	23,875	24,000	24,000
Subsequent Injury Fund:	0	0	0	0
Sub-Injury Fund Assessment	7,555,804	7,928,214	7,500,000	7,500,000
Investment Council Interest	33,150	31,660	32,000	32,000
Continuing Education Fund:	0	0	0	0
Agent Renewal Fees (Biennial renewal)	570	87,776	500	88,000
Investment Council Interest	1,341	1,530	1,200	1,550
Special Collections for Workers Comp	0	0	0	0
Policy Fee (Transferred to Dept. of Labor)	253,463	265,434	265,000	265,000
Examination Fund (Effective 7-1-97)	418,800	837,900	500,000	500,000
Investment Council Interest	19,567	8,637	8,600	8,600
Total	$68,699,799	$67,731,962	$70,589,800	$68,677,650
PERFORMANCE INDICATORS:
Total Licensed/Domestic Companies	1,373/47	1,424/45	1,424/45	1,445/44
Companies Licensed/Approved Mergers	25	43	43	43
Agent Licenses Issued	9,461	18,823	10,000	10,000
Transfer to General Fund (SDCL 4-4-4.4)	$3,323,695	$1,302,746	$5,500,000	$3,500,000

generated 12/05/06 10:44:28 AM