GOVERNOR'S RECOMMENDED FY 2012 BUDGET |
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 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
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% |