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MOA trust posts strong returns; MLNP stipulation near close and vice chair resigns

Budget and Finance Committee of the Whole · December 19, 2025

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Summary

Trust chair Slifka reported the MOA Trust was valued at $487 million as of Nov. 30, with year-to-date returns of 12.58% and a $16.577 million dividend paid to the municipality; Callan will be the new consultant beginning Jan. 1 and vice chair Jeff Sins has resigned but will serve until a replacement is named. OMB reported the MLNP stipulation of $15 million toward long-term substance-misuse treatment has been met and about $1.5 million remains in the fund pending acceptance.

Chair Slifka presented the MOA Trust update, reporting the trust's value was $487,000,000 as of Nov. 30 and that year-to-date returns through September were 12.58% compared with a benchmark of 12.49%. Slifka told the committee the trust paid a total dividend of $16,577,000 to the municipality and projected the dividend for next year could be slightly more than $17,000,000.

Slifka also said the trust has hired Callan as a consultant beginning Jan. 1 and that the board is still recruiting a director of investment operations. He noted that vice chair Jeff Sins submitted his resignation and will continue to serve until a replacement is named.

Why it matters: Trust dividends support municipal operations and capital; the trust's strong performance helps near-term municipal finances but staff cautioned that returns at these levels may not continue indefinitely.

MLNP closeout and Alaska Center for Treatment fund

OMB staff reviewed the MLNP closeout AIM (AIM 2462025) and said the municipality met the $15,000,000 stipulation to fund long-term substance-misuse treatment in South Central Alaska (the stipulation used the name "Alaska Center for Treatment" when it was written in 2019). Dollars were used for the Golden Lion micro-unit recovery program and capital investments; noncontingent remaining funds are roughly $1,500,000 and staff are awaiting confirmation from Chugach before considering the stipulation closed.

Slifka said the trust's three-year annualized return is roughly 12.87% and cautioned that strong past returns do not guarantee future performance. The trust is in compliance with its investment policy and applicable code, staff said.

Next steps

The trust budget for 2026 (associated with AR 2025-379) will be up for a public hearing on Jan. 13. Trust staff will continue recruitment for the director of investment operations and will report further details at subsequent meetings.