|
GOVERNOR'S RECOMMENDED FY 2011 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 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
367,880
372,447
408,923
408,923
410,695
1,772
Total
$367,880
$372,447
$408,923
$408,923
$410,695
$1,772
EXPENDITURE DETAIL:
Personal Services
$315,144
$325,941
$339,320
$339,320
$341,092
$1,772
Operating Expenses
52,737
46,506
69,603
69,603
69,603
0
Total
$367,880
$372,447
$408,923
$408,923
$410,695
$1,772
Staffing Level FTE:
5.0
5.0
5.0
5.0
5.0
0.0
| ACTUAL FY 2008 |
ACTUAL FY 2009 |
ESTIMATED FY 2010 |
ESTIMATED FY 2011 |
|
| REVENUES: | ||||
| Deposited to Securities Operating Fund: | $0 | $0 | $0 | $0 |
| Securities Registration Fees | 58,097 | 64,108 | 60,000 | 60,000 |
| Franchise Registration Fees | 156,650 | 144,950 | 155,000 | 140,000 |
| Franchise Exemption Fees | 20,250 | 0 | 0 | 0 |
| Business Opportunities Registration Fees | 500 | 350 | 300 | 300 |
| Securities Opinion Fees | 125 | 225 | 200 | 200 |
| Investment Company Notification Fees | 18,819,200 | 18,056,200 | 17,000,000 | 17,000,000 |
| Agent Licensing Fees | 10,390,375 | 10,200,125 | 9,000,000 | 9,000,000 |
| Broker-Dealer Licensing Fees | 214,500 | 207,900 | 210,000 | 210,000 |
| Investment Adviser Fees | 4,000 | 3,700 | 4,500 | 4,500 |
| Investment Adviser Agent Fees | 81,250 | 73,600 | 65,000 | 65,000 |
| I/A Notice Filings | 146,000 | 167,600 | 130,000 | 130,000 |
| Miscellaneous | 8,600 | 10,322 | 4,000 | 4,000 |
| Investment Council Interest | 106,125 | 223,180 | 85,000 | 85,000 |
| Private Placement/Reg. D506/Other | 95,325 | 72,750 | 93,000 | 70,000 |
| Fines | 4,000 | 844,147 | 60,000 | 60,000 |
| Total |
$30,104,997 |
$30,069,157 |
$26,867,000 |
$26,829,000 |
| PERFORMANCE INDICATORS: | ||||
| New Securities Applications | 109 | 46 | 90 | 45 |
| Extensions and Amendments | 54 | 43 | 50 | 40 |
| Private Placement/Other Exemptions | 0/387 | 1/293 | 1/350 | 1/250 |
| Invest. Comp. Notice Filings--New/Total | 3,413/23,000 | 2,727/20,320 | 3,070/20,700 | 2,700/20,000 |
| New Franchise Applications/Registrations | 257/790 | 262/773 | 250/780 | 250/770 |
| Franchise Extensions/Exemptions | 514/81 | 510/0 | 700/0 | 500/0 |
| Business Opportunities--New/Total | 4/4 | 2/1 | 4/4 | 2/2 |
| Brokers-Dealers/B-D Agents Licensed | 1,340/62,004 | 1,323/60,975 | 1,330/59,000 | 1,300/59,000 |
| Investment Advisers/IA Agents Licensed | 33/1,000 | 32/1,020 | 33/950 | 33/950 |
| Investment Advisers Notice Filing | 635 | 722 | 550 | 700 |
| Franchise Applications Withdrawn | 267 | 251 | 200 | 200 |
| Investigations | 199 | 196 | 150 | 150 |
| Administrative Orders Issued | 114 | 63 | 95 | 70 |
| Opinions Requested | 2 | 3 | 5 | 3 |
| Transfers to General Fund (SDCL 4-4-4.4) | $29,712,977 | $29,672,956 | $26,867,000 | $27,000,000 |