|
GOVERNOR'S RECOMMENDED FY 2011 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 2008ACTUAL
FY 2009BUDGETED
FY 2010REQUESTED
FY 2011GOVERNOR'S RECOMMENDED
FY 2011RECOMMENDED INC/(DEC)
FY 2011
FUNDING SOURCE:
General Funds
$0
$0
$0
$0
$0
$0
Federal Funds
0
0
0
0
0
0
Other Funds
1,940,654
1,594,116
1,916,024
1,904,533
1,912,253
(3,771)
Total
$1,940,654
$1,594,116
$1,916,024
$1,904,533
$1,912,253
($3,771)
EXPENDITURE DETAIL:
Personal Services
$1,191,014
$1,191,290
$1,363,973
$1,363,973
$1,371,693
$7,720
Operating Expenses
749,641
402,826
552,051
540,560
540,560
(11,491)
Total
$1,940,654
$1,594,116
$1,916,024
$1,904,533
$1,912,253
($3,771)
Staffing Level FTE:
17.8
17.4
21.5
21.5
21.5
0.0
| ACTUAL FY 2008 |
ACTUAL FY 2009 |
ESTIMATED FY 2010 |
ESTIMATED FY 2011 |
|
| REVENUES: | ||||
| Mortgage Lender Renewal and Application | $108,170 | $102,595 | $100,000 | $100,000 |
| Banking Revolving Fund: | 0 | 0 | 0 | 0 |
| Bank Examination Fee | 833,239 | 904,571 | 1,000,000 | 1,000,000 |
| Trust Company Examination Fee | 49,407 | 127,260 | 75,000 | 75,000 |
| Money Lenders Renewal and Applications | 229,650 | 291,150 | 250,000 | 250,000 |
| Other License Fees | 5,103 | 7 | 0 | 0 |
| Money Order Renewal and Application | 15,600 | 20,100 | 15,000 | 15,000 |
| Mortgage Broker Renewal and Application | 49,340 | 27,410 | 100,000 | 100,000 |
| Mortgage Loan Originator Renewal and Application | 107,850 | 68,190 | 100,000 | 100,000 |
| Trust Company Supervison Fee (1) | 118,360 | 135,391 | 100,000 | 100,000 |
| Investment Council Interest | 33,878 | 30,323 | 20,000 | 20,000 |
| Miscellaneous | 782 | 1,182 | 20,000 | 0 |
| Trust Company Charter Fees (General Fund) | 25,000 | 10,000 | 20,000 | 20,000 |
| Total |
$1,576,379 |
$1,718,179 |
$1,800,000 |
$1,780,000 |
| PERFORMANCE INDICATORS: | ||||
| Action on Applications: | ||||
| New Bank/Trust Company Charters | 0/6 | 0/6 | 0/5 | 0/5 |
| Branches/Changes of Location or Control | 23/4 | 4/0 | 20/2 | 20/2 |
| Mergers/Denied Branch Banks | 2/0 | 3/0 | 2/0 | 2/0 |
| Interstate Banking and Branching | 3 | 0 | 10 | 10 |
| Mobile Banking Services | 0 | 1 | 2 | 2 |
| Loan Production Offices | 1 | 6 | 1 | 1 |
| Institutions Examined: | ||||
| Money Lenders (self examination) | 320 | 345 | 308 | 308 |
| Money Lenders (on-site) | 15 | 10 | 50 | 50 |
| Banks (1) | 27 | 25 | 35 | 35 |
| Trust Companies | 11 | 10 | 20 | 20 |
| Mortgage Lenders (self examination) | 180 | 148 | 150 | 150 |
| Mortgage Brokers (self examination) | 105 | 49 | 60 | 60 |
| Mortgage Loan Originators (self examination) | 700 | 441 | 450 | 450 |
| Licenses Issued or Renewed: | ||||
| Money Lenders/Money Orders | 364/28 | 357/25 | 350/28 | 350/28 |
| Mortgage Lenders/Brokers | 194/107 | 193/64 | 175/75 | 175/75 |
| Mortgage Loan Originator | 724 | 686 | 500 | 500 |
| Charters Cancelled: | ||||
| Banks and Bank Branches | 1 | 2 | 1 | 1 |
| Asset Size of Institutions Supervised: | ||||
| Total Assets-Banks (as of FY end) (2) | $20,069,482,000 | $14,266,249,000 | $14,837,314,960 | $15,430,807,558 |
| Managed Assets - Trust Companies | ||||
| Trust Departments (as of FY Midpoint) | $64,303,732,000 | $67,257,330,000 | $69,947,623,200 | $72,745,528,128 |