Senate finance subcommittee forwards $485.1M Department of Revenue budget, denies Permanent Fund Corporation restructure
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Summary
The Senate Finance Budget Subcommittee voted April 6 to forward a recommended FY27 Department of Revenue budget of $485,142,200 to the full Finance Committee and recommended denying a request to revert the Alaska Permanent Fund Corporation to a single appropriation, citing transparency concerns.
The Senate Finance Budget Subcommittee on Thursday voted to forward a recommended FY27 budget for the Department of Revenue totaling $485,142,200 to the full Finance Committee and recommended denying a proposed change to the Alaska Permanent Fund Corporation’s appropriation structure.
Ella Adkisson, staff to subcommittee chair Senator Kiel, presented the report and detailed the subcommittee’s recommended funding and position changes. "A budget with total funds of $485,142,200," Adkisson said, breaking the package down into $36,191,800 in unrestricted general funds, $3,465,700 in designated general funds, $334,990,600 in other funds and $110,464,100 in federal funds.
The report recommends a total position count of 873 positions: 830 permanent full-time, 24 permanent part-time and 19 temporary. The subcommittee accepted several items from the governor’s amended budget, including three tax-division positions for economic research and analysis; $611,600 in Permanent Fund Dividend (PFD) funds for a new dividend application information system; a $32,700 PFD increase for higher postage costs; and $15,300,000 in federal receipt authority for the Alaska Housing Finance Corporation’s Housing Choice Voucher program.
On the Alaska Permanent Fund Corporation, the subcommittee report recommended denying the requested reversion to a single appropriation. Adkisson told the subcommittee that "the boards of trustees' history of unauthorized spending makes a more transparent budget structure necessary," and recommended instead several line-item and accounting adjustments. Those adjustments include a $1,064,700 decrease in permanent fund gross receipts for investment systems, a modest $307 increase for data-center receipts, a $41,700 increase for investment data and analytics (noting $84,100 for computing and firewall licensing), and a one-time $195,900 increase for workstation replacements. The report also recommends budgeting $34,000 to fully fund lease increases for the Permanent Fund Corporation’s Juneau office, creating an Anchorage office appropriation, and budgeting $1,000 to decommission a second office.
Outside the Permanent Fund Corporation, the subcommittee recommended adding five Auditor 4 positions in the Tax Division at an estimated $900,000 in unrestricted general fund and adding $52,200 in unrestricted general fund to annualize a filled position at the Alaska Sustainable Energy Corporation.
Senator Kawasaki moved the subcommittee report and authorized legislative finance and legislative legal to make any technical or conforming changes. Senator Kiel said departmental staff were present but had no statement. With no objections raised, the chair declared the motion carried and the report will be forwarded to the full Finance Committee.
The subcommittee adjourned at 6:15 p.m. Thursday.
