STATE TREASURER
GOVERNOR'S RECOMMENDED FY 2012 BUDGET
3210 Investment of State Funds

MISSION:
To professionally manage the South Dakota Retirement System and South Dakota Cement Plant Retirement Fund portfolios in order to obtain long-term maximum total returns consistent with prudent risk; to professionally manage the state's cash flow fund in order to obtain long-term maximum total returns consistent with the liquidity needs of the fund, the legal list and prudent risk; to professionally manage within the framework established by the South Dakota Investment Council the investment portfolios of the School and Public Lands Fund, the Dakota Cement Trust, the Health Care Trust and the Education Enhancement Trust to obtain the highest risk adjusted return over the long term and to provide income payouts; to oversee the Higher Education Savings Plan per SDCL 13-63-1 to 13-63-31 by establishing the program and monitoring the selected program manager, Allianz Global Investors Distributors LLC; and, to comply with the requirements of SDCL 4-5-12 to 4-5-39, "Investment of State Funds Law".

  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 5,552,198 5,820,131 8,917,882 9,765,220 9,765,220 847,338
      Total $5,552,198 $5,820,131 $8,917,882 $9,765,220 $9,765,220 $847,338
 
EXPENDITURE DETAIL:
   Personal Services $4,263,771 $4,484,995 $7,173,564 $7,744,271 $7,744,271 $570,707
   Operating Expenses 1,288,427 1,335,135 1,744,318 2,020,949 2,020,949 276,631
      Total $5,552,198 $5,820,131 $8,917,882 $9,765,220 $9,765,220 $847,338
 
Staffing Level FTE: 27.7 28.0 28.0 28.0 28.0 0.0

  ACTUAL
FY 2009

ACTUAL
FY 2010

ESTIMATED
FY 2011

ESTIMATED
FY 2012

REVENUES:  
   Investment Management Fees: $0 $0 $0 $0
   Retirement System (SDRS) 5,121,712 4,314,676 5,003,384 7,557,304
   Cement Plant 33,970 27,801 30,881 46,873
   Cash Flow Fund (CFF) 580,583 698,813 800,735 1,209,911
   School and Public Lands (S&PL) 118,081 108,178 123,076 185,539
   Dakota Cement Trust (DCT) 179,930 155,655 169,619 255,849
   Education Enhancement Trust (EET) 262,232 227,174 264,979 400,374
   Health Care Trust (HCT) 69,159 61,125 72,302 109,370
      
Total

$6,365,667

$5,593,422

$6,464,976

$9,765,220
PERFORMANCE INDICATORS:  
   SDRS Yr-End Assets/Inv Income (Millions) $5,640/$-1,478 $6,488/$1,050
   SDRS Total Fund Return -20.36% 18.73%
   SDRS Capital Mkt Benchmark/Mellon Corp -18.0%/-17.64% 11.12%/14.49%
   CPRF Yr-End Assets/Inv Income (Millions) $35.6/$-9.3 $39.1/$7.1
   CPRF Total Fund Return/Benchmark Return -19.98%/-17.89% 19.98%/10.83%
   CFF Average Amount Invested (Millions) $966 $1,037
   CFF Investment Income (Millions) $57.6 $50.2
   CFF Average Yield/Benchmark Yield 4.51%/1.63% 4.8%/0.2%
   S&PL Yr-End Assets/Invest Income (Millions) $139.1/$-26 $154.9/$19.3
   S&PL Total Fund Return/Benchmark Return -14.6%/-12.7% 13.9%/10.8%
   DCT Yr-End Assets/Invest Income (Millions) $195.0/$-41.7 $211.0/$28.7
   DCT Total Fund Return/Benchmark Return -16.6%/-12.7% 14.3%/10.8%
   EET Yr-End Assets/Invest Income (Millions) $302.5/$-64.5 $341.1/$39.9
   EET Total Fund Return/Benchmark Return -17.5%/-12.6% 13.2%/10.4%
   HCT Yr-End Assets/Invest Income (Millions) $82.3/$-15.0 $93.6/$11.5
   HCT Total Fund Return/Benchmark Return -15.4%/-12.7% 14.0%/10.8%

generated 11/18/10 04:07:49 PM