The Institute of Social & Economic Research

The Alaska Citizen's Guide to the Budget

Financial Assistance
provided by:

Fiscal Policy Council of Alaska

Comparisons
State Assets
Trust Funds
Public Corporations
The General Fund
Enterprises
Administrative Funds
Special Revenue Funds
Investment Management
Index to Funds

 

6. State Assets

6.3 General Fund

The general fund had $ 1.1 billion at the end of FY 2001. The general fund is the account that holds all money the state receives that is not specifically designated to go into one of the other accounts of the state. The general expenses for the operations of the government are paid out of this account. In a very rough way it is like the checking account for state government, and it must retain a balance to pay for day-to-day operations.

In most years since 1990, there has not been enough revenue flowing into the general fund to pay for all the costs of general government. To deal with this current account shortfall, the state has "borrowed" from the Constitutional Budget Reserve (CBR). At the end of FY 2002, the general fund "owed" about $4.8 billion to the CBR. This loan shows up as an asset in the CBR, but it is unlikely that the loan will ever be repaid by the general fund.

There are a large number of individual funds within the general fund established to keep track of the flow of dollars from particular sources and used for particular purposes. These funds, listed and described below, do not retain large balances over time, but rather serve as temporary holding tanks for funds until they have been appropriated and spent.

Alaska Clean Water Administrative Fund (11167) - AS 46.03.034 - Administered by Department of Environmental Conservation. The fund is composed of two accounts: the Alaska clean water administrative operating account and the Alaska clean water administrative income account. The administrative operating account may be used for operational and administrative costs to manage the Alaska Clean Water Fund (AS 46.03.032). Money received in payment of fees in connection with making and servicing loans from the Alaska Clean Water fund and earnings on the administrative fund shall be deposited in the administrative income account.

Alaska Debt Retirement Fund (11138) - AS 37.15.011 - The fund consists of all money appropriated to it. The fund was established to help meet the general fund debt obligations of the State and its political subdivisions, to fund lease-purchases, and to finance capital projects with money remaining after debt obligations are paid.

Alaska Drinking Water Administrative Fund (11170) - AS 46.03.038 - Administered by Department of Environmental Conservation. The fund is composed of two accounts: the Alaska drinking water administrative operating account and the Alaska drinking water administrative income account. The administrative operating account may be used for operational and administrative costs to manage the Alaska Drinking Water Fund (AS 46.03.036). Money received in payment of fees in connection with making and servicing loans from the Alaska Drinking Water Fund and earnings on the administrative fund shall be deposited in the administrative income account.

Alaska Historical Commission Receipts Account (11111) - AS 41.35.380 - Administered by Department of Natural Resources. Consists of all monetary gifts, grants, bequests, royalties, and other income received by the Alaska Historical Commission and is used for commission projects.

Alaska Marine Highway System Fund (12135) - AS 19.65.060 - Administered by Department of Transportation and Public Facilities, Alaska Marine Highway System. Gross revenues of the Alaska Marine Highway System are deposited into the fund. The fund also consists of legislative appropriations of amounts necessary to provide stable services to the public, after consideration of gross revenue.

Alaska Marine Highway System Vessel Replacement Fund (11137) - AS 37.05.550 - Managed by Department of Revenue. The fund consists of money appropriated to it by the legislature. The legislature may appropriate money from the fund for refurbishment of existing state ferry vessels, acquisition of additional state ferry vessels, or replacement of retired or outmoded state ferry vessels.

Alaska Surplus Property Fund (11112) - AS 37.05.500(a)(2), AS 44.68.130 - Administered by Department of Administration. This fund is to account for revenues from the users or purchasers of excess federal property that the State has acquired and is used to pay the administrative expenses incurred in managing this property.

Alaska Technical and Vocational Education Program Fund (11166) - AS 23.15.830 - Administered by Department of Labor and Workforce Development. The account consists of amounts collected under AS 23.15.835. The legislature may appropriate the annual estimated balance in the account to the Alaska Human Resource Investment Council to implement AS 23.15.820 - 23.15.850. The legislature may appropriate the lapsing balance of the account to the unemployment compensation fund established in AS 23.20.130.

Alaska Transportation Infrastructure Bank (21653) - Section 350 of the National Highway System Designation Act of 1995 Federal Law - Managed by the Department of Transportation and Public Facilities. This fund was established as a pilot program with the U.S. Department of Transportation to increase infrastructure investment in the private sector. The fund has the ability to make loans and provide other forms of credit assistance to public and private entities to carry out highway construction and transit capital projects.

Art in Public Places Fund (11124) - AS 44.27.060 - Administered by Alaska State Council on the Arts. This fund consists of one percent of the construction cost of buildings exempt from AS 35.27. The money is used to commission or purchase art for public state-owned or -leased buildings or facilities.

Assistive Technology Loan Guarantee Fund (11154) - AS 23.15.125 - Administered by Department of Labor and Workforce Development, Division of Vocational Rehabilitation (DVR). The fund consists of money appropriated to it. DVR may solicit and accept available public and private money for distribution from the fund. Money in the fund may be used to guarantee 90 percent of the principal amount of a loan or to subsidize the interest rate of a loan guaranteed by DVR for appropriate assistive technology.

Donated Commodity Fee Fund (11120) - USC 7 CFR, Part 250 - Administered by Department of Education and Early Development. This fund consists of monies from federal agencies and recipients of goods. It is intended to cover the cost of the distribution of federal surplus food to schools, childcare institutions, nonprofit camps for children, charitable institutions for minors, nutrition programs for the elderly, and assistance to needy persons.

Educational Facilities Maintenance and Construction Fund (11142) - AS 37.05.560 - Money in the fund may be appropriated to finance the design, construction, and maintenance of public school facilities and for maintenance of the University of Alaska facilities.

Employment Assistance and Training Program Account (11134) -AS 23.15.625 - Administered by Department of Labor and Workforce Development. The account consists of amounts collected under the provision of AS 23.15.630. The annual estimated balance in the account may be appropriated by the legislature to the department to implement AS 23.15.620 - 23.15.660. The legislature may appropriate the lapsing balance of the account to the unemployment compensation fund established in AS 23.20.130.

Exxon Valdez Oil Spill Unincorporated Rural Community Grant Fund (11161) - AS 44.33.115 - Administered by Department of Community and Economic Development. The department may use the fund to make grants to unincorporated rural communities in the area affected by the Exxon Valdez oil spill for capital projects for purposes of restoring, replacing, or enhancing subsistence resources or services or other services damaged or lost as a result of the Exxon Valdez oil spill.

FHWA - Airspace Leases Fund (11126) - Section 156 of the Surface Transportation and Uniform Relocation Assistance Act of 1987 requires that the State shall charge fair market value for the sale, use, or lease rentals of right-of-way airspace and that the federal share of these net incomes be used by the State for highway projects. This fund accounts for those revenues. The revenues are available for appropriation by the legislature for highway projects.

FICA Administration Fund (11110) - AS 39.30.050 - Administered by Department of Administration. The fund consists of the pro rata share of expenses incurred in the administration of 39.30.010 - 39.30.080 and collected from participating political subdivisions and from the state.

Fishermen's Fund (11119) - AS 23.35.060 - Administered by Department of Labor and Workforce Development. This fund is composed of 39 percent of the money derived by the State from all commercial fishermen's licenses and money appropriated by the legislature to pay for emergency treatment, transportation, medical care, and hospitalization of commercial fishermen.

Fuel Emergency Fund (11125) - AS 26.23.400 - Administered by Office of the Governor. This fund is used when the governor determines that a shortage of fuel is sufficiently severe to justify State assistance to make grants to a city or borough, or to a village or unincorporated community to purchase emergency supplies of fuel.

Fund for the Improvement of School Performance (11145) - AS 14.03.125 - Administered by Department of Education and Early Development. It is used to make grants to a district located in the State for the purpose of improving school performance.

Major Maintenance Grant Fund (11144) - AS 14.11.007 - Administered by Department of Education and Early Development. The fund is used to make grants for the cost of school major maintenance.

Municipal Capital Project Matching Grant Fund (11146) -AS37.06.010 -Administered by Department of Administration. The money in the fund is held by the department in custody for each municipality. Each fiscal year the department allocates individual grants for each municipality.

Oil and Hazardous Substance Release Prevention Mitigation Account (11139) - AS 46.08.020(b) - Administered by Department of Environmental Conservation. This account consists of money received from other State sources, from federal or other sources, or from a private donor; money recovered or otherwise received from parties responsible for the containment and cleanup of oil or a hazardous substance; and fines, penalties, or damages recovered under AS 46.08.005-46.08.080. The legislature may appropriate the amount received in this account (during the preceding calendar year) to the prevention account in the Oil and Hazardous Substance Release Prevention and Response Fund.

Oil and Hazardous Substance Release Response Mitigation Account (11153) - AS 46.08.025(b) - Administered by Department of Environmental Conservation. This account consists of money received from other State sources, from federal or other sources, or from a private donor; money recovered or otherwise received from parties responsible for the containment and cleanup of oil or a hazardous substance at a specific site for which the State expended money from the former oil and hazardous substance release response fund before October 2, 1994, or for which the State expended money from the response account. The legislature may appropriate the amount received in this account (during the preceding calendar year) to the response account in the Oil and Hazardous Substance Release Prevention and Response Fund.

Oil and Hazardous Substance Release Prevention and Response Fund (11128) - AS 46.08.010 - Administered by Department of Environmental Conservation. This fund is composed of two accounts: (1) the prevention account and (2) the response account. The fund consists of appropriations by the legislature of money from private donors, money recovered from parties responsible for cleanup of oil or a hazardous substance, and fines, penalties, or damages recovered under chapter 46. This money is for the containment and cleanup of oil or a hazardous substance; monitoring, assessing, investigating, and evaluating the release or threatened release of oil or a hazardous substance; and recovery of the cost to the State of the containment and cleanup of oil or a hazardous substance.

Railbelt Energy Fund (11123) - AS 37.05.520 - Managed by Department of Revenue. The legislature may appropriate money from the fund for programs, projects, and other expenditures to assist in meeting Railbelt energy needs, including projects for retrofitting State-owned buildings and facilities for energy conservation.

Randolph-Sheppard Small Business Fund (11118) - AS 23.15.130; 20 USC 107-107(f) - Administered by Department of Education and Early Development. This fund consists of receipts from vending facilities on federal properties and is used to aid only blind licensees in operating vending machine facilities.

Real Estate Surety Fund (11121) - AS 08.88.450 - Administered by Department of Community and Economic Development. This fund is composed of payments made by real estate licensees under AS 08.88.455 and filing fees under AS 08.88.460, income earned on investment of the money in the fund, and money deposited in the fund under AS 08.88.450(c). Amounts in the fund may be appropriated for claims against the fund, for hearing and legal expenses directly related to fund operations and claims, and real estate educational purposes.

School Construction Grant Fund (11143) - AS 14.11.005 - Administered by Department of Education and Early Development. The fund shall be used to make grants for the costs of school construction. Legislative appropriations for school construction shall be deposited in the fund and the proceeds from the sale of general obligation bonds for school construction may be deposited in the fund.

 School Trust Land Sales (11162) - Established per Attorney General memo regarding Public School Trust Litigation. Used to separately account for the sales of 21 parcels of public school trust land the status of which is in litigation.

 Second Injury Fund (11117) - AS 23.30.040 - Administered by Department of Labor and Workforce Development. The second injury fund consists of all amounts collected under AS 23.30.040(b) and (c), and as civil penalties under AS 23.30.155(c). Money in the fund may only be paid for the benefit of those persons entitled to payment of benefits from the Second Injury Fund under AS 23.30.

State Insurance Catastrophe Reserve Account (11133) - AS 37.05.289 - Administered by Department of Administration. Assets of the account may be used to obtain insurance, to establish reserves for the self- insurance program, and to satisfy claims or judgements arising under the program.

State Land Disposal Income Fund (11164) - AS 38.04.022(a) - Administered by Department of Natural Resources. The fund consists of revenue from the state land disposal program.

Storage Tank Assistance Fund (11136) - AS 46.03.410 - Administered by Department of Environmental Conservation. The fund consists of money appropriated to it by the legislature. The receipts of the fund may be used for certain costs as defined in AS 46.03.410(a) relating to underground petroleum storage tank systems and for grants and loans.

TAPS Rebate Fund (11163) -Federal Public Law l0l-380, sec.8102(a)(B)(I).-The federal government has rebated the pro rata share of the federal TAPS (Trans-Alaska Pipeline Liability Fund) to the State of Alaska for its contributions as an owner of oil. The funds are to be used for the remediation of above-ground storage tanks.

Unincorporated Community Capital Project Matching Grant Fund (11147) - AS 37.06.020 - Administered by Department of Community and Economic Development. This fund was created for unincorporated communities to acquire or improve an asset with an anticipated life exceeding one year and includes land acquisition, construction, repair or structural improvement of a facility, engineering and design for a facility, and acquisition or repair of equipment.

Vocational Rehabilitation Small Business Enterprise Revolving Loan Fund (11116) - AS 23.15.130 - Administered by Department of Labor and Workforce Development, Division of Vocational Rehabilitation. This fund consists of receipts from the net proceeds of vending facilities on public property. The annual estimated receipts of the fund may be used by the legislature to make appropriations to the department to aid licensees in operating vending machine facilities.

Workers' Safety and Compensation Administration Account (11173) - AS 23.05.067 - Administered by Department of Labor and Workforce Development. This fund is used to account for the annual service fees collected from employers for the administrative expenses of the state for workers' safety programs under AS 18.60 and the workers' compensation program under AS 23.30.

Source: State of Alaska, Comprehensive Annual Financial Report, For the Fiscal Year July 1, 2000 - June 30, 2001, Department of Administration, Division of Finance. Available online at State of Alaska, Department of Administration, Division of Finance.

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Page Updated April 16, 2003

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