Banking Department
The enacted budget passed by the Legislature made the following changes to the Executive Budget (analysis as of March 30, 2006):
- The enacted budget makes no changes to the Executive Budget’s State Operations appropriations.
- Approves some of the Executive’s proposed increases in penalties and fines and in investigative fees for applications.
The Senate and Assembly made the following changes to the Executive Budget (analysis as of March 15, 2006):
- The Senate and Assembly made no changes to the Executive Budget appropriations.
- The Senate rejects the following Executive proposals: increase penalty fines for violations of the Banking Law; increase investigative fees for applications; increase annual licensing fees.
The Executive Budget recommends (analysis as of January 24, 2006):
· No change to the adjusted SFY 2005-06 FTE level of 575. The adjusted 3/31/06 FTE level includes a reduction of 12 FTEs in the Regulation Program (Special Revenue-Other).
· An All Funds decrease of $5.2 million, or 5.4%. $3.8 million of this reduction is in personal services and fringe benefits in the Regulation Program, including a reduction of $3.1 million in personal service, reflecting the reduction of positions in SFY2005-06.
Program Details-State Operations
Enacted
Proposed
Enacted
Change in
Percent
Program
2005-06 Budget
2006-07 Budget
2006-07 Budget
Appropriation
Change
All Funds
$97,238,817
$92,019,000
$92,019,000
($5,219,817)
-5.4%
Special Revenue-Other
$97,238,817
$92,019,000
$92,019,000
($5,219,817)
-5.4%
Administration (SRO)
$23,166,205
$21,766,000
$21,766,000
($1,400,205)
-6.0%
Personal Service
$4,440,000
$4,440,000
$4,440,000
$0
0.0%
Nonpersonal Service
$421,000
$421,000
$421,000
$0
0.0%
Fringe Benefits
$1,994,608
$2,087,000
$2,087,000
$92,392
4.6%
Indirect Costs
$160,597
$168,000
$168,000
$7,403
4.6%
Siezed Assets Acct
$150,000
$150,000
$150,000
$0
0.0%
Banking Dept Settlement
$2,000,000
$500,000
$500,000
($1,500,000)
-75.0%
State Transmitter of Money Insurance Fund Acct (p.464)
$14,000,000
$14,000,000
$14,000,000
$0
0.0%
Analysis & Compliance
$4,040,856
$4,100,000
$4,100,000
$59,144
1.5%
Special Revenue-Other
$4,040,856
$4,100,000
$4,100,000
$59,144
1.5%
(SRO)
$4,040,856
$4,100,000
$4,100,000
$59,144
1.5%
Personal Service
$2,583,000
$2,583,000
$2,583,000
$0
0.0%
Nonpersonal Service
$205,000
$205,000
$205,000
$0
0.0%
Fringe Benefits
$1,160,038
$1,214,000
$1,214,000
$53,962
4.7%
Indirect Costs
$92,818
$98,000
$98,000
$5,182
5.6%
Regulation Program
$70,031,756
$66,153,000
$66,153,000
($3,878,756)
-5.5%
Special Revenue-Other
$70,031,756
$66,153,000
$66,153,000
($3,878,756)
-5.5%
(SRO)
$70,031,756
$66,153,000
$66,153,000
($3,878,756)
-5.5%
Personal Service
$36,500,000
$33,367,000
$33,367,000
($3,133,000)
-8.6%
Nonpersonal Service
$14,670,000
$14,670,000
$14,670,000
$0
0.0%
Fringe Benefits
$16,393,168
$15,682,000
$15,682,000
($711,168)
-4.3%
Indirect Costs
$1,303,588
$1,269,000
$1,269,000
($34,588)
-2.7%
Maintenance Undistrib
$1,165,000
$1,165,000
$1,165,000
$0
0.0%