Governor Signs $765 Million Supplemental FY 2006 Budget

Governor Frank Murkowski April 27 signed a spending bill that will supplement the budgets of state agencies this year and sock away $600 million of Alaska’s revenue surplus. Of the $600 million, half was directed to the public education fund created by the legislature last year, and the other half will go to the Alaska Housing Finance Corp for unnamed public-works projects. The spending package calls for appropriations of nearly $3.8 million to two companies to lobby for the opening of the Arctic National Wildlife Refuge.

The supplemental budget is meant to provide money for unknown costs to state agencies for the current fiscal year, such as increased fuel prices. The bill is also used to fund programs for next year, or in the case of the surplus, to place large sums of money for future use. The surplus, which is driven by record oil prices this year, is expected to be $1.6 billion or higher. (AP, April 27, 2006) (HMF/4/28/06)