|
GOVERNOR'S RECOMMENDED FY 2010 BUDGET |
MISSION:
To provide the citizens of South Dakota with sound state-chartered and licensed financial institutions by: providing for and encouraging the development of depository financial institutions while restricting their activities to the extent necessary to safeguard the interest of depositors; seeking to ensure compliance by both depository and non-depository financial institutions with governing laws and regulations. The Division is further committed to promote a balanced and sensible approach to regulation that protects the public interest and supports economic growth.
ACTUAL
FY 2007ACTUAL
FY 2008BUDGETED
FY 2009REQUESTED
FY 2010GOVERNOR'S RECOMMENDED
FY 2010RECOMMENDED INC/(DEC)
FY 2010
FUNDING SOURCE:
General Funds
$0
$0
$0
$0
$0
$0
Federal Funds
0
0
0
0
0
0
Other Funds
1,294,229
1,940,654
1,856,180
2,002,907
1,944,604
88,424
Total
$1,294,229
$1,940,654
$1,856,180
$2,002,907
$1,944,604
$88,424
EXPENDITURE DETAIL:
Personal Services
$982,644
$1,191,014
$1,287,899
$1,440,046
$1,392,553
$104,654
Operating Expenses
311,586
749,641
568,281
562,861
552,051
(16,230)
Total
$1,294,229
$1,940,654
$1,856,180
$2,002,907
$1,944,604
$88,424
Staffing Level FTE:
16.4
17.8
20.5
22.5
21.5
1.0
| ACTUAL FY 2007 |
ACTUAL FY 2008 |
ESTIMATED FY 2009 |
ESTIMATED FY 2010 |
|
| REVENUES: | ||||
| Mortgage Lender Renewal and Application | $0 | $108,170 | $100,000 | $100,000 |
| Banking Revolving Fund: | 0 | 0 | 0 | 0 |
| Bank Examination Fee | 562,143 | 791,520 | 900,000 | 1,000,000 |
| Trust Company Examination Fee | 49,109 | 49,407 | 50,000 | 80,000 |
| Money Lenders Renewal and Applications | 212,250 | 229,650 | 241,000 | 253,000 |
| Other License Fees | 97,417 | 0 | 0 | 0 |
| Money Order Renewal and Application | 0 | 15,600 | 15,600 | 15,600 |
| Mortgage Broker Renewal and Application | 0 | 49,340 | 45,000 | 45,000 |
| Mortgage Loan Originator Renewal and Application | 0 | 107,850 | 100,000 | 100,000 |
| Trust Company Supervison Fee (1) | 80,868 | 108,360 | 113,778 | 175,000 |
| Investment Council Interest | 12,359 | 33,878 | 15,000 | 10,000 |
| Miscellaneous | 38,748 | 782 | 30,000 | 20,000 |
| Trust Company Charter Fees (General Fund) | 35,000 | 25,000 | 25,000 | 30,000 |
| Total |
$1,087,894 |
$1,519,557 |
$1,635,378 |
$1,828,600 |
| PERFORMANCE INDICATORS: | ||||
| Action on Applications: | ||||
| New Bank/Trust Company Charters | 0/7 | 0/6 | 0/5 | 0/5 |
| Branches/Changes of Location or Control | 10/0 | 23/4 | 20/2 | 20/2 |
| Mergers/Denied Branch Banks | 7/0 | 2/0 | 3/0 | 2/0 |
| Interstate Banking and Branching | 4 | 3 | 3 | 10 |
| Mobile Banking Services | 1 | 0 | 2 | 2 |
| Loan Production Offices | 1 | 1 | 1 | 1 |
| Institutions Examined: | ||||
| Money Lenders (self examination) | 324 | 320 | 290 | 308 |
| Money Lenders (on-site) | 15 | 15 | 30 | 50 |
| Banks (1) | 30* | 35 | 35 | 35 |
| Trust Companies | 7 | 11 | 15 | 20 |
| Mortgage Lenders (self examination) | 0 | 180 | 150 | 150 |
| Mortgage Brokers (self examination) | 0 | 105 | 60 | 60 |
| Mortgage Loan Originators (self examination) | 0 | 700 | 450 | 450 |
| Licenses Issued or Renewed: | ||||
| Money Lenders/Money Orders | 370/27 | 364/28 | 350/28 | 350/28 |
| Mortgage Lenders/Brokers | 70/90 | 194/107 | 175/75 | 175/75 |
| Mortgage Loan Originator | 0 | 724 | 500 | 500 |
| Charters Cancelled: | ||||
| Banks and Bank Branches | 1 | 1 | 2 | 1 |
| Asset Size of Institutions Supervised: | ||||
| Total Assets-Banks (as of FY end) (2) | $16,418,043,000 | $20,069,482,000 | $20,872,261,000 | $21,707,151,000 |
| Managed Assets - Trust Companies | ||||
| Trust Departments (as of FY Midpoint) | $39,388,934,000 | $57,803,730,000 | $60,757,330,000 | $63,795,196,000 |