Preliminary revenue forecast out, but per barrel price headed lower

click here for the full story!

Amid a transition of power at the highest levels of state government and ongoing earthquake rebuilding and recovery in Southcentral, Department of Revenue officials released an early version of the state’s annual Fall Revenue Forecast Monday morning with a major “subject to change” disclaimer.

The Preliminary Fall 2018 Revenue Forecast projects the State of Alaska will collect more than $6.2 billion of unrestricted revenue available for appropriation in the current 2019 fiscal year, which would lead to the state’s first balanced budget since 2012, outgoing Gov. Bill Walker said in a speech to the Anchorage Chamber of Commerce Nov. 26.

Slightly more than $3 billion of that would be petroleum-derived tax and royalty revenue, while another nearly $500 million would come from non-petroleum sources; the remaining $2.7 billion would be drawn from the Earnings Reserve Account of the Permanent Fund based on a 5.25 percent of market value, or POMV, calculation.

Preliminary revenue forecast out, but per barrel price headed lower
Michael Ortega

Michael Ortega

Want to know more about Michael Ortega? Get their official bio, social pages & articles on 650 KENI! Read more

title

Content Goes Here