Alaska Attorney General Craig Richards announced on October 28th, the Administration’s new fiscal plan which includes utilizing some Permanent Fund earnings for state government. He will brief the Fiscal Action Coalition about the plan via teleconference on Tuesday, November 3rd, noon – 1pm, at the HDR Building at 2525 C Street.
- The documents below were produced by the Governor’s Financial Opportunities Working Group led by Attorney General Richards.
- On November 2nd, Standard & Poor’s issued a press release with an analysis of the new fiscal plan.
- “In Standard & Poor’s Ratings Services’ view, publication of the report itself is a favorable development because it illustrates to state lawmakers how a pathway to a more sustainable fiscal structure for Alaska’s general fund is possible. Our recent outlooks have noted that Alaska will need to find some way to address its fiscal imbalance if it is to prevent its credit quality from slipping. The Financial Opportunities Working Group, which was formulated by Governor Bill Walker and produced the report, has outlined an approach with several policy options for lawmakers to consider. From a credit perspective, more important than any particular policy detail it contains is that the report’s main proposals would help bring the state closer to structural fiscal alignment.” Click here for the press release.
On October 28th, 2015 Alaska Attorney General, Graig Richards, announced in Juneau the Administration’s new fiscal proposal which includes a plan to utilize some Permanent Fund earnings for state government.
A SOUND FISCAL FUTURE: Recommendations for the Sustainable Utilization and Management of Alaska’s Financial Assets, by Attorney General Craig Richards and the Governor’s Financial Opportunities Working Group. Published October, 2015
This report is the third of a three-part study by the Harvard Kennedy School analyzing the structures and practices of the world s leading sovereign wealth funds. This report it provides a road map for transitioning from oil to investment revenue. The three reports are available at: http://belfercenter.ksg.harvard.edu/ publication/25300/institutions_and_policies_for_managing_sovereign_wealth.html
This document is a memorandum from CWN Fiscal Study Co-Chair, Eric Wohlforth, to the Alaska Attorney General, Craig Richards, regarding the State’s newly announced fiscal plan, “A Sound Fiscal Future (2015)”.