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Banking Department |
Adjusted Executive Legislative
Approp. Request Approp.
2000-01 2001-02 2001-02 Change
STATE OPERATIONS
Special Rev.-Other 64,236,500 64,563,000 63,507,000 (1,056,000)
Total for Agency: 64,236,500 64,563,000 63,507,000 (1,056,000)
Total Contingency: 2,700,000 2,700,000 2,700,000 0
Total for
STATE OPERATIONS: 66,936,500 67,263,000 66,207,000 (1,056,000)
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Agency Mission The Banking Department is charged with protecting the public interest by regulating and supervising an estimated 3,200 State-chartered banking institutions with total assets of approximately $1.9 trillion. Year-to-Year Change The Executive requests appropriations totaling $67,263,000 for State Fiscal Year (SFY) 2001-02, an increase of $326,500 or 0.5 percent from SFY 2000-01 levels. Legislative Changes
The Assembly proposal eliminates funding for the Banking Department's Tokyo Office due to the fact that the Department has not yet clearly documented the need for such an office or the goals and activities of this overseas operation. Currently, each employee of the Tokyo Office is receiving an average compensation package of $194,000, which includes base salary, a cost of living differential, a housing allowance and "other costs." Legislative Proposals The Assembly plan provides $294,000 in funding for additional Automated Teller Machine (ATM) inspectors to implement safety standards established by the Automated Teller Machine Safety Act of 1996. The Assembly plan provides $100,000 in funding for additional Bank Intern Positions. The Banking Department's Intern Program was designed to identify and recruit highly qualified individuals and provide an equal opportunity for members of minority groups to obtain employment and advancement within the Department.
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