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Headlines : Alaska
Gov. Parnell proposes $12.1B spending plan
Gov. Sean Parnell proposed a $12.1 billion spending package for the next fiscal year, more than $800 million less than this year's budget. He said his budget will leave a surplus of $3.7 billion.
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Headlines : Alaska, North Dakota, West Virginia, Wyoming
Amid deficit gloom, some states enjoy surpluses
A handful of states -- led by those that enjoy bountiful energy reserves such as West Virginia, Wyoming and North Dakota -- have found themselves in similarly enviable positions, oases of optimism in an otherwise barren landscape of budget cuts and government layoffs. A few other states, including Massachusetts, South Carolina and Virginia, have combined slight increases in tax revenue with tight spending controls to produce modest surpluses.
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Headlines : Alaska
Parnell's Vetoes Prompt Allegation of Retaliation
Gov. Parnell vetoed $400 million in spending with his line-item veto.
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Headlines : Alaska
Alaska special session ends amid drama; now what?
The legislative session resulted in a capital budget higher than Gov. Sean Parnell had indicated he'd be willing to accept, and raised questions about whether all sides would be able to work together to tackle the major issues that will be facing the state next year.
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Headlines : Alaska
Alaska Senate passes $9B state operating budget
The Alaska Senate has passed a $9 billion state operating budget, which includes $20 million for a new revenue sharing program and keeps out funding to begin preliminary operations of the Goose Creek Correctional Center.
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Alaska Gov. Parnell
Office of Governor Sean Parnell
State Capitol
P.O. Box 110001
Juneau, AK 99811-0001
Phone: (907) 465-3500
Fax: (907) 465-3532
http://gov.state.ak.us/
Karen Rehfeld, Director of Office of Management & Budget
Office of Management & Budget
P.O. Box 110020
Juneau, AK 99811-0020
Phone (907) 465-4660
Fax: (907) 465-3008
Karen.Rehfeld@alaska.gov
Legislative Budget Leaders:
Sen. Lyman Hoffman (D), Co-Chair, Senate Finance Committee, Senator_Lyman_Hoffman@legis.state.ak.us 866-465-4453
Sen. Bert Stedman (R) Co-Chair, Senate Finance Committee, Senator_Bert_Stedman@legis.state.ak.us 877-463-3873
Rep. Bill Thomas (R) Co-chair, House Finance Committee, Representative_Bill_Thomas@legis.state.ak.us 866-465-3732
Rep. Bill Stoltze (R) Co-chair, House Finance Committee, Representative_Bill_Stoltze@legis.state.ak.us 866-465-4958
Rep. Mike Hawker (R) Chair, Legislative Budget & Audit Committee, Representative_Mike_Hawker@legis.state.ak.us 866-465-4949
The current state budget can be found here.
2012 Legislative Calendar: Regular Session convenes January 17, adjourns April 15.
Alaska is required to pass a "balanced budget." Section 37.07.020 of the state law mandates proposed expenditures may not exceed estimated revenue for the succeeding fiscal year. Section 37.07.014(e) commands the legislature to modify estimated receipts and revenues to ensure a balanced budget. Alaska law forbids the carrying over of a deficit from one year to the next.
Alaska limits appropriations to the appropriations limit from the previous year, adjusted for inflation and the change in population plus 5%. This is commonly called "budgeting for fiscal discipline," and is a way to keep the growth of appropriations from outpacing the growth in revenues from year to year.
The State has three major funds, the General Fund, the Alaska Permanent Fund, which are included in the governmental funds statements, and the International Airports Fund, which is included in the business-type activities funds statements. Only two of these major funds are budgeted (the General and Alaska Permanent), along with a few other permanent funds and non-major special revenue funds. Although information is well arranged and "total" columns are included, the Budgetary Comparison Schedules are missing beginning and ending balances. There is a considerable difference between actual and budgeted figures. [from the Institute for Truth in Accounting]
Find the state's bond ratings here.
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Solutions: Maryland, Nevada, Oregon, Vermont, Washington, Alaska, Michigan
State Budget Solutions with Bob Williams
Video of Bob Williams addressing the underfunded state pension fund problem facing so many states. He states that the public cannot afford the benefits and suggests defined contribution programs as a solution.
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Colorado, Illinois, Utah, Wyoming, New Hampshire , New Jersey, Alaska, Vermont
In some states, pension pain yields budget gains
2010 is turning out to be a pivotal year in public pension policy, as states move to bring down escalating retirement costs that threaten their governments' stability.
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Maryland, Nevada, Oregon, Vermont, Washington, Alaska, Michigan
State Budget Solutions with Bob Williams
Video of Bob Williams addressing the underfunded state pension fund problem facing so many states. He states that the public cannot afford the benefits and suggests defined contribution programs as a solution.
