1. Questions to be addressed, with an eye on the State's fiscal health

1. Source of funds going into the Fund- should it
   1. Remain the same, with 25% of oil related revenues as the sole source
   2. Increase or decrease the percentage of oil related revenues deposited
   3. Include deposits from other royalties on other state non-renewable resources, such as coal or various minerals
   4. Be supplemented with deposits of “surplus” revenues
2. How should fund be managed
   1. Remain the same as current policy
   2. Any changes in investment strategy
   3. Other changes in management
3. How should earnings be used
   1. Remain the same as current uses- inflation proofing and dividends
   2. Community dividend- possibly reduce property taxes
   3. Dedicate a portion to education
   4. Use for general government
   5. Capital projects fund
   6. Manage as endowment- implement POMV

2. Scope of Study

This study will:

• Review previous Commonwealth North study efforts related to the Permanent Fund and state fiscal policies, as well as similar studies by the Trustees of the Permanent Fund and other government and private institutions
• Review the history of and intended uses for the permanent fund
• Provide an overview of Alaska's unique obligation to explore and develop the resources of the state for the benefit of all Alaskans
• Incorporate input from other interested civic, educational, and business groups
• Address the concept of non-renewable resources such as oil or natural gas as “assets”- should these assets be used to create a sustainable funding source
• Develop recommendations on sources of funds going into the fund, management of the fund, and use of earnings
• Develop recommendations for involving the public in the study of permanent fund, its management, use, and the future of state general fund revenues.

3. Nature of report to be issued

This report will summarize the history of the Permanent Fund, including prior studies regarding its management and use of earnings. It will suggest guiding principles for the use of state resources in maintaining a sustainable level of general funds. It will provide a set of scenarios of possible future outcomes for the permanent fund and financing of state operations and dividends. It will provide the rationale for any recommendations for management or use of the Permanent Fund. The report will detail the process of reaching out to the public to continue the discussions raised in the report.

4. Conflict of Interest Standards

The intent of this study is to represent a balance between the geographic, demographic, ethnic and economic interests in Alaska. All Alaska citizens have a vested interest in the Permanent Fund and its future. Individual members will be asked to identify any specific or unique conflicts relative to specific points they advocate.

5. Measure of Success

This study will succeed by generating a greater awareness of the finances of the State of Alaska and the role of the Permanent Fund in the state's fiscal future. This awareness will lead to an ongoing discussion between the citizens and their legislative representatives and state executive management. Follow up may include the establishment of a separate committee or other form of group that works towards implementation of the recommendations. This group may include members from a broad mix of organizations, including private sector trade or business groups and state government, as well as individuals representing various interests within the state.