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05-255 Office of Financial Institutions

The Office of Financial Institutions (OFI) charters, licenses, and supervises those financial services providers whose regulatory oversight has been statutorily assigned to this office. Supervision consists of conducting on-site examinations, off-site monitoring, serving as a resource for regulatory issues, investigating complaints, and taking corrective action when necessary. All funding for the program is self generated through assessments, licensing, and examination fees collected from the regulated entities.

The Office of Financial Institutions has only one program, Financial Institutions. Therefore, the mission and goals of the Office of Financial Institutions are the same as those listed for the Office Financial Institutions Program in the program description that follows.

BUDGET SUMMARY

This agency's recommended appropriation does not include any funds for short-term debt.

This agency does not have any long-term debt for Fiscal Year 1999-2000.

This agency's recommended appropriation also includes the following amount by means of financing for payments on the unfunded accrued liability of the Louisiana State Employees' Retirement System in accordance with the provisions of Article X, Section 29 of the Constitution of Louisiana:

State General Fund by:

 

 

     Fees & Self-gen. Revenues

 

$291,448

 

 

 

Total

 

$291,448


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