The Permanent Fund with Angela Rodell, CEO of the Alaska Permanent Fund Corp.
Free Public Webinar TUESDAY, APRIL 13, 2021 7:00PM – 8:30PM
Zoom automatic confirmation at https://bit.ly/3uj0Dav or watch on Facebook
If you think today’s oil is the foundation of Alaska’s general fund, it’s time to rethink. Earnings from the Alaska Permanent Fund now provide more than 2-1/2 times the revenue derived from petroleum to the state’s general fund revenue. This can continue beyond our lifetimes and those of our grandchildren but only if we are prudent stewards.
The vision of Alaskans over 40 years ago has benefited past – is benefiting current – and will benefit future generations. Alchemists of old would have thrilled to see how dedicated people can covert a portion of the state’s non-renewable mineral resource wealth into a renewable financial revenue source for state services and programs. Alaskans can be proud of the Fund and the work that the Alaska Permanent Fund Corporation (APFC) does to manage and invest the portfolio.
APFC through the investment of the Permanent Fund generates revenue for the State of Alaska. The yearly POMV (percent of market value) withdrawal from the fund is a stable, predictable, revenue source that is available for the Legislature’s appropriation. Based on the 2021 Spring Revenue Forecast, the Permanent Fund now provides more that 65% of the state’s general fund revenues. As time goes by it may be the size of the Fund that will determine the state’s level of prosperity.
The Alaska Permanent Fund is an asset of inestimable worth. Alaskans should be mindful of its value and attentive to its well-being. Join Angela Rodell, the CEO of the Alaska Permanent Fund Corporation, to learn about the fund, its history, the role of sovereign wealth in Alaska’s future, the team that invests and guards it and what we can do to ensure it flourishes. Be ready with your questions.
Sponsored by the League of Women Voters of Tanana Valley and the Fairbanks Branch of the American Association of University Women.