2002 Yellow Book |
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BANKING DEPARTMENT |
Adjusted Executive Appropriation Request Percent 2001-02 2002-03 Change Change AGENCY SUMMARY Special Rev.-Fed. 0 500,000 500,000 -- Special Rev.-Other 63,370,100 71,848,000 8,477,900 13.38% Total for Agency: 63,370,100 72,348,000 8,977,900 14.17% Total Contingency: 2,700,000 2,700,000 0 0.00% Total for AGENCY SUMMARY: 66,070,100 75,048,000 8,977,900 13.59% STATE OPERATIONS Special Rev.-Fed. 0 500,000 500,000 -- Special Rev.-Other 63,370,100 71,848,000 8,477,900 13.38% Total for STATE OPERATIONS: 63,370,100 72,348,000 8,977,900 14.17% Administration Special Rev.-Other 5,805,000 6,351,000 546,000 9.41% Total for Program: 5,805,000 6,351,000 546,000 9.41% Regulation Special Rev.-Fed. 0 300,000 300,000 -- Special Rev.-Other 54,077,100 61,721,000 7,643,900 14.14% Total for Program: 54,077,100 62,021,000 7,943,900 14.69% Analysis and Compliance Special Rev.-Fed. 0 200,000 200,000 -- Special Rev.-Other 3,488,000 3,776,000 288,000 8.26% Total for Program: 3,488,000 3,976,000 488,000 13.99% CONTINGENCY Fiduciary 2,700,000 2,700,000 0 0.00% Total for CONTINGENCY: 2,700,000 2,700,000 0 0.00% Administration Fiduciary 2,700,000 2,700,000 0 0.00% Total for Program: 2,700,000 2,700,000 0 0.00% ALL FUNDS PERSONNEL BUDGETED FILL LEVELS Current Requested Program 2001-02 2002-03 Change Administration 64 64 0 Regulation 497 497 0 Analysis and Compliance 38 38 0 Total All Other Funds : 599 599 0 TOTAL: 599 599 0 BUDGET HIGHLIGHTS (Executive Budget: pp. 271-273) The Banking Department is charged with protecting the public's interest by regulating and supervising an estimated 3,200 State- chartered banking institutions with total assets of approximately $2.1 trillion. The Banking Department is included in the Public Protection and General Government appropriation bill. The Governor proposes an All Funds Appropriation of $75,048,000, an increase of $8,977,900 or 13.6 percent over State Fiscal Year (SFY) 2001-02. The Banking Department is supported entirely by fees charged to regulated financial institutions and organizations. State Operations The Executive recommends support in SFY 2002-03 for the following programs: -- a net increase of $4,319,000 to reflect salary adjustments, nonpersonal services, inflation, and fringe benefits associated with agency operations; -- a request of $4,000,000 for moving and increased rental costs associated with the expiration of their lease located at 2 Rector Street; -- a Federal Grant in the amount of $500,000 that will upgrade computer networks in order to help combat money laundering and predatory lending; -- a suballocation in the amount of $200,000 from the Banking Department to the Office of the Inspector General for nonpersonal services and expenses; and -- a suballocation to the Departments of Law and Taxation and Finance in the amount of $938,000 for the services and expenses incurred on behalf of the Crime Proceeds Task Force. The Executive proposal maintains support for the following programs: -- Continuation of ongoing efforts of the Holocaust Office. This Office assists survivors of the Holocaust or their heirs in making claims on assets believed to have been in existence during the time period of 1933-1945. In addition, the State Insurance Department will suballocate $397,000, a $23,000 increase from SFY 2001-02, to the Banking Department to assist in the Holocaust Office's efforts to recover properties belonging to Holocaust victim survivors; -- Continuation of the Office of Regulatory Presence in Tokyo. This initiative provides the Banking Department with an opportunity to establish a presence in Asia and facilitate a better working relationship with banking institutions located in the Far East; -- Support to enforce the Automated Teller Machine (ATM) Safety Program, allowing the Banking Department to comply with the Automated Teller Machine Safety Act of 1996; and -- Continuation of funding for trainee positions in the Bank Intern Program. The Executive Budget provides $2,700,000 in a contingency appropriation for services and expenses related to the State transmitter of money insurance fund. |
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