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

6.5 Administrative Funds

Our administrative funds category consists of three types of funds in the state government accounts that are established solely for administrative purposes. These are the internal service accounts, the debt service accounts, and the capital projects accounts. At the end of FY 2001 they had a combined balance of $ 300 million.

Internal Service Funds

Internal service funds account for the operations of state agencies which render services to other state agencies, institutions, or other governmental units on a cost-reimbursement basis.

 
(million $)
Group Health and Life Benefits Fund (11155) (including Retiree Health and Group Health and Life)
Administered by the Department of Administration. Effective July 1, 1997, the State began a self-insurance program to provide health care coverage for State employees and for retirees covered by the retirement programs administered by the State. This fund consists of accumulated assets held for the purpose of paying health care claims for employees and retirees and accounts for transactions pertaining to the self-insurance program.
Total Assets:
$135
Total Fund Equity:
$787
FY 2001 Revenue:
$276
FY 2001 Net Income:
$24
Highways Equipment Working Capital Fund (22600)
Administered by the Department of Transportation and Public Facilities. This fund is used for necessary expenses resulting from the centralization of equipment maintenance and for the operation of supply depots.
Total Assets:
$87
Total Fund Equity:
$75
FY 2001 Revenue:
$30
FY 2001 Net Income:
$-.498
Alaska Public Building Fund (11165)
Administered by the Department of Administration. Effective July 1, 2000, the Department of Administration began to manage the maintenance and operations of eight (8) State-owned buildings. The goals are to manage these buildings, in good order and a functional state, while providing cost-effective and efficient space for State Agencies and private tenants (until private tenant leases expire and space is converted to State agency use), to retain maximum value of these state assets, and to maximize revenue from non-General Fund sources.
Total Assets:
$34
Total Fund Equity:
$34
FY 2001 Revenue:
$7
FY 2001 Net Income:
$1
Information Services Fund (22500)
During the 1990 Legislative Session, the legislature established the Information Services Fund (ISF) in the Department of Administration and classified it as an internal service fund. The ISF is used to account for the operation and financing of computing and telecommunication services for the State of Alaska. Included in these services is operation of the State's mainframe computer; the statewide consolidated data network; the telephone system in Juneau, Anchorage, and Fairbanks; and the microwave communications infrastructure.
Total Assets:
$26
Total Fund Equity:
$20
FY 2001 Revenue:
$23
FY 2001 Net Income:
$-1
Correctional Industries Fund (22654)
Administered by the Department of Corrections. The fund accounts for correctional industries program activities which include a commercial laundry service and several of the State's correctional institutions All expenses of the correctional industries program, except salaries and benefits of State employees, are financed from the correctional industries program and budgeted in accordance with the Executive Budget. Salary and benefits of State employees of the program are financed by other funding sources.
Total Assets:
$3
Total Fund Equity:
$2
FY 2001 Revenue:
$4
FY 2001 Net Income:
$-.031

Debt Service

Alaska's Debt Service Funds are where cash is accumulated to pay principal, interest, and related costs of the state's general long-term debt.

 
(million $)
Northern Tobacco Securitization Corporation (NTSC) Bond Redemption Fund (14120)

Accounts for accumulation of resources for, and the payment of, principal, interest, and related costs of revenue bonds issued by NTSC.

Total Assets:
$15
FY 2001 Revenue:
$.774
FY 2001 Net Income:
$15
General Obligation Bond Redemption Fund (14100)
Accounts for accumulation of resources for, and the payment of, principal, interest, and related costs of general obligation bonds.
Total Assets:
$0
FY 2001 Revenue:
$0
FY 2001 Net Income:
$0

Capital Projects Funds

Capital Projects Funds are where money raised by selling general obligation bonds is put until used "for the acquisition, construction, or improvement of major capital facilities" (except for capital projects that are financed from the general fund, proprietary funds, and trust funds).

 
(million $)
1978 Transportation Facilities Construction Fund (13033)
This fund consists of the proceeds from the sale of $88,450,000 of bonds and is to be used for the purpose of paying the cost of highway, ferry, airport, local service roads, and trails construction.
Total Assets:
$0
FY 2001 Revenue:
$0
FY 2001 Net Income:
$0
1980 Transportation Construction Fund (13305)
This fund consists of the proceeds from the sale of $156,992,700 of bonds and is to be used for the purpose of paying the cost of highway, ferry, airport, port, harbor, local service roads and trails construction.
Total Assets:
$0
FY 2001 Revenue:
$0
FY 2001 Net Income:
$0

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

Alaska Department of Revenue, Fall 2001 Revenue Sources Book, VII. Investment Revenue

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Page Updated April 16, 2003

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