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 2009	ACTUAL FY 2010	BUDGETED FY 2011	REQUESTED FY 2012	GOVERNOR'S RECOMMENDED FY 2012	RECOMMENDED INC/(DEC) FY 2012
FUNDING SOURCE:
General Funds	$0	$0	$0	$0	$0	$0
Federal Funds	0	0	0	0	0	0
Other Funds	372,447	397,720	410,695	405,695	405,695	(5,000)
Total	$372,447	$397,720	$410,695	$405,695	$405,695	($5,000)
EXPENDITURE DETAIL:
Personal Services	$325,941	$347,933	$341,092	$341,092	$341,092	$0
Operating Expenses	46,506	49,787	69,603	64,603	64,603	(5,000)
Total	$372,447	$397,720	$410,695	$405,695	$405,695	($5,000)
Staffing Level FTE:	5.0	5.0	5.0	5.0	5.0	0.0

	ACTUAL FY 2009	ACTUAL FY 2010	ESTIMATED FY 2011	ESTIMATED FY 2012
REVENUES:
Deposited to Securities Operating Fund:	$0	$0	$0	$0
Securities Registration Fees	64,108	57,375	60,000	55,000
Franchise Registration Fees	144,950	139,750	140,000	140,000
Franchise Exemption Fees	0	0	0	0
Business Opportunities Registration Fees	350	400	300	300
Securities Opinion Fees	225	100	200	200
Investment Company Notification Fees	18,056,200	18,104,950	17,000,000	17,000,000
Agent Licensing Fees	10,200,125	9,995,125	9,000,000	9,000,000
Broker-Dealer Licensing Fees	207,900	204,900	210,000	200,000
Investment Adviser Fees	3,700	3,700	4,500	3,500
Investment Adviser Agent Fees	73,600	83,250	65,000	65,000
I/A Notice Filings	167,600	145,000	130,000	130,000
Miscellaneous	10,322	11,217	4,000	4,000
Investment Council Interest	223,180	139,843	85,000	85,000
Private Placement/Reg. D506/Other	72,750	75,975	70,000	70,000
Fines	844,147	693,060	60,000	60,000
Total	$30,069,157	$29,654,645	$26,829,000	$26,813,000
PERFORMANCE INDICATORS:
New Securities Applications	46	54	45	45
Extensions and Amendments	43	63	40	40
Private Placement/Other Exemptions	1/293	0/299	1/250	1/250
Invest. Comp. Notice Filings--New/Total	2,727/20,320	2,859//20,607	2,700/20,000	2,700/20,000
New Franchise Applications/Registrations	262/773	216/756	250/770	200/700
Franchise Extensions/Exemptions	510/0	669/0	500/0	600/0
Business Opportunities--New/Total	2/1	3/4	2/2	2/2
Brokers-Dealers/B-D Agents Licensed	1,323/60,975	1,323/60,975	1,330/59,000	1,300/59,000
Investment Advisers/IA Agents Licensed	32/1,020	33/1,287	33/950	33/950
Investment Advisers Notice Filing	722	699	700	700
Franchise Applications Withdrawn	251	209	200	200
Investigations	196	168	150	150
Administrative Orders Issued	63	95	70	70
Opinions Requested	3	2	3	3
Transfers to General Fund (SDCL 4-4-4.4)	$29,672,956	$29,293,943	$26,829,000	$26,813,000

generated 11/18/10 03:41:01 PM