Appropriations A/V — 2015

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Roll Call00:00:22
Steve Zinter, Vice Chair of the SDRS Board of Trustees 00:02:05
Introduction of Board Members00:02:57
Rob Wylie, Executive Director of the SD Retirement System00:06:33
SDRS celebrates 40 years of operation in 201500:07:35
SDRS is fully funded at 107% 00:08:18
All unfunded liability is paid off00:08:47
SDRS established a new mortality table00:09:25
SDRS focuses on services provided to its 79,000 members00:10:57
SDRS Budget Briefing00:12:10
SDRS uses no General Funds00:12:42
Membership Profile00:12:47
Mission Statement00:13:38
Senator Heineman question - SDRS goal regarding on-going income00:15:12
Budget Request of $31,00000:18:15
In-house actuary services00:18:40
Representative Anderson question - actuary services to other departments00:20:44
Budget Compared to Contributions defined in law at 3%00:22:00
FTEs to Members00:22:34
Public Pensions 10100:23:37
Contributions + Investments = Benefits + Expenses00:23:54
Summary and Fact Sheet00:27:33
Cement Plan Retirement Fund information00:28:38
Senator Tidemann question - was the appropriation close to the need00:30:33
Organizational Staff00:33:18
Performance Measurement00:34:55
National Council on Teacher Quality00:37:26
Accrued Pension Debt per K-12 Public School Student by State00:39:41
Senator Heineman comments on performance measurement data00:41:16
Matthew L. Clark, State Investment Office00:42:47
Jon Hunter, Chair of the Investment Council00:43:14
Introduction of Council Members00:43:23
Organization Chart00:44:30
Assets00:45:05
Cost Efficiency00:45:47
Long Term Plan00:47:48
Long Term Plan Executive Summary00:48:45
Budget Process & Funding Sources00:49:44
Budget Funding Sources00:50:27
Compensation Overview00:51:18
Representative Partridge question - industry standard for compensation00:53:51
Compensation Split between base and incentive compensation00:55:28
FY14 Budget and Actual (Unexpended credited against FY15)00:56:10
Senator Parsley question - incentive pay00:57:33
Senator Parsley question - number that received the 100% incentive pay in FY1400:59:29
Representative Dryden question - unspent appropriations01:05:23
Representative Romkema comments on Investment Council performance01:05:47
FY16 Budget Request Summary01:06:22
FY16 Budget Request - Contractual Services Detail01:07:05
Investment Performance - Returns vs. Benchmarks01:07:42
Investment Performance - Earnings vs. Benchmarks01:13:43
State Fund Comparison01:14:56
Superior Returns Add Up Over Time01:15:47
Potential Excess Earnings01:16:32
Many Pistons Contribute - Cumulative Added Value by Source FY99-FY1401:17:29
Every Asset Category has Good and Bad Years01:18:20
Trust Funds (preliminary estimates)01:19:35
Appendix01:25:40
Senator Heineman question - what percent is paid out of SDRS annually01:26:15
Representative Partridge question - which principle is paid out01:29:30
Mark Lauseng, Executive Director, SD Housing Development Authority01:31:16
First Time Home Buyer Program01:31:32
Rental Development Program (Home Program and Housing Tax Credit Program)01:32:44
Governor's House Program01:34:20
2014 Governor's House Improvements01:34:25
Housing Opportunity Fund01:36:04
FY16 Budget Request01:37:04
Senator White question - eligibility for the Governor's House Program01:37:37
Representative Hunhoff question - competition with private sector01:39:52
Representative Hunhoff question - inventory of houses01:41:06
Senator Heineman question - collaboration between SD Housing Authority & SD Housing Opportunity Fund01:41:33
Senator Parsley question - disbursements from Build South Dakota Fund01:42:27
Scott Landguth, SD Ellsworth Development Authority01:43:18
Budget of $594,180 with no recommended increases or decreases01:45:08
Representative Partridge question - bonding for waste water treatment plant01:49:38
Representative Romkema comment on zoning issues near the air base01:50:37
Representative Hunhoff question - revenue sources01:52:33
Senator Heineman question - source of "Other" funds01:54:38
Representative Anderson question - taking property off tax rolls01:55:24
Senator Parsley question - source of local funds01:56:29
Pat Costello, Commissioner of Governor's Office of Economic Development01:58:00
Introduction of GOED Staff02:01:38
Presentation of the Bureau's website02:04:22
Redi-Loan Program02:04:42
Future Fund02:05:35
Representative Hunhoff question - data on companies receiving funds02:06:42
Senator Peters question - how are projects measured02:08:19
Senator Peters question - how can you assure the projects are working02:10:23
Senator Tidemann question - loans to technical institutes02:13:54
Senator Parsley question - question on future fund disbursements02:15:07
Senator Heineman question - what is the source of "Other" funds in the Future Fund02:17:01
Representative Hunhoff question - Building South Dakota Program02:18:12
Senator Peters comments on budget presentation02:21:24
Senator Peters question - State Energy Program02:22:36
Marty Davis, Finance Officer02:26:42
Senator Peters question - Petroleum Violation Fund02:27:39
Senator Peters question - Community Development Block Grants02:28:25
Senator Tidemann question - identify communities that receive CDBG grants02:29:31
Representative Hunhoff question - waste water projects02:32:45
Senator Heineman question - Building South Dakota Fund02:33:22
Representative Dryden question - disbursement of funds02:38:18
Senator Peters question - what is funded with the $2,499,614 in General Funds02:40:14
Representative Hunhoff question - where are the increased FTEs from FY14 to FY1502:42:30
Representative Jensen question - looking for detailed information on each program02:43:30
Senator Peters comments on budget information/presentation02:45:35
Senator Heineman question - Building South Dakota Fund02:48:00
Senator Tidemann comments on 3M project in Brookings02:50:17
Senator Parsley comments on the Building South Dakota Fund02:51:31
Adjourn: Tidemann/Jensen02:55:14

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