GOVERNOR'S RECOMMENDED FY 2012 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 2009ACTUAL
FY 2010BUDGETED
FY 2011REQUESTED
FY 2012GOVERNOR'S RECOMMENDED
FY 2012RECOMMENDED 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 |