Oil is the state’s No. 2 source of general-purpose revenue, behind an annual transfer from the Alaska Permanent Fund.
A new state revenue forecast that includes modestly higher oil prices promises to give Alaskans a slightly larger Permanent Fund dividend and the Alaska Legislature some additional breathing room as lawmakers craft a new state budget.
It’s not all gravy, said Rep. DeLena Johnson, R-Palmer and co-chair of the House Finance Committee. While having additional money “certainly doesn’t hurt anything,” Gov. Mike Dunleavy is already planning to present some extra spending requests to the Legislature, she said. to this year’s Permanent Fund dividend. Stedman said he now expects that bonus to be slightly more than $200.After subtracting the dividend bonus, Stedman said there’s about $170 million in additional dollars between the two fiscal years.
“In Western Alaska, it’s embarrassing to look at the black mold in those schools … fire alarm systems that are defunct, etc. So hopefully we can throw a lifeline for deferred maintenance at our K-12 schools,” Bishop said. An annual transfer from the Alaska Permanent Fund to the state treasury is the state’s No. 1 source of revenue, accounting for more than half of its general-purpose revenue, but the stability of that transfer is negated by the sheer changeability of oil, causing legislators to pay close attention to forecasts as they set the state’s annual budget.
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