Alaska

Alaska's annual budget is prepared by the Division of Budget and Management within the Office of the Governor, and is submitted by the governor to the legislature for amendment and approval. The fiscal year runs from 1 July through 30 June.

The 2003 budget authorized $7.39 billion in expenditures, including $4.4 billion under the Operating Budget (which includes the state's main education, public safety, health and social services and natural resource management programs); $1.19 billion under the Capital Budget (three-fourths of which is made up of federal funds for highway, airport, sewer, water, and sanitation projects); and $406 million (5%) for debt servicing and supplemental appropriations. Also included, and unique to Alaska, was $1.38 billion authorized for the operations of the state's Permanent Fund (PF), including $690 million for dividend payments to Alaskans, and $693 to inflation-proof the principal in the PF. The PF, operative since 1982, is funded from the state's windfall in oil lease fees connected with the Alaska oil pipeline, and as protection against the time when revenues from the oil sector will decrease. In 2003, the PF capital base was at $21 billion.

The following table from the US Census Bureau contains information on revenues, expenditures, indebtedness, and cash/securities for 2001.