Presented 04/29/20.

Presented 02/20/19.

Presented 08/01/18.

This report is an update of CWN’s 2015 report. It contains specific recommendations for reducing state spending and is the result of the work of CWN’s Fiscal Policy Study Group.

With Commonwealth North's long commitment to a sound state fiscal policy and the state faced with a daunting gap between revenue and spending, CWN's Fiscal Policy Study Group was charged with an examination of the State's operating budget to identify recommendations to help reduce state spending.

In this Fiscal Policy Report, Commonwealth North summarizes the base line historical perspective, offers new perspective and provides three key findings to help create a foundation for establishment of a sustainable fiscal policy for the State of Alaska.

The Board of Directors and members engaged in a seventeen week targeted study that evaluated the primary public policy concerns associated with Alaska’s oil tax structure. It was determined that the current oil production tax adversely affects investment in oil production on the North Slope and progressivity should be modified.

This study followed up on a 1998 study on how well Alaska was managing its land and resource wealth. It addressed four questions: (a) Can Alaska’s return on assets be enhanced?; (b) To what extent can more effective management of Alaska’s assets contribute to a sustainable revenue stream and fiscal plan?; (c) Can managing Alaska’s business assets as a coordinated portfolio further enhance returns? and (d) How is this to be accomplished?

Alaska’s assets were examined to identify the management principles which, if consistently applied, would improve their financial return and enhance Alaska’s economic stability.

A study group reports makes recommendations regarding what services state government should provide, and what services it should not, given the growth of the state’s private sector and declining state revenue from Prudhoe Bay.

This analysis examines Anchorage’s role in the context of the Alaska economy as a whole. It identifies economic engines of Anchorage with potential global competitive edge potential and makes recommendations for the State of Alaska and Municipality of Anchorage.

Development of a long-term financial plan that will compensate for declining oil revenues. This plan would be developed by a citizen-based commission.

Proceedings and conclusions of Commonwealth North’s 1999 budget conference. Issues discussed included: fiscal gap, spending regulation, reserves, taxation, Permanent Fund and economic development.

A special task force on the state budget was charged by Commonwealth North directors to review and make recommendations as to how to address the State of Alaska’s immediate budget gap.

A second fund, like the Permanent Fund, should be created to provide stability to Alaska's economy. This fund would provide investment in an infrastructure designed to broaden Alaska's economic base.

An examination of the State’s loan agencies. State loan programs need to be regulated and, where necessary, consolidated to insure that the State does not overwhelm private lending agencies.

An analysis of the best ways to invest Alaska’s resource revenues for the long-term benefit of the state.