The Alaska Citizen's Guide to the Budget

1.1.4 Debt Retirement

Although the state of Alaska has about $5 billion in outstanding debt, most of the interest paid on that debt does not appear in the annual state budget appropriation because the payments flow directly through from the borrower to the lender. In FY 2002 debt retirement was $ .152 billion, and after netting out duplicated appropriations, it was $ .090 billion.

Most debt retirement appropriations were used to pay off loans for local school construction, certificates of participation for lease purchase agreements for state buildings, and international airport bonds. The school construction bonds are obligations of local government, but the state has agreed to share the cost of the facilities. In FY 2002 this was $57 million.

The state has no general obligation bonds.

To find out more about the public debt of the state go to Alaska Department of Revenue, Treasury Division web site. [Alaska Public Debt 2001-2002]

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Page updated November 13, 2002

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