Politics & Government
Alaska ranked no. 2 for fiscal health
According to new report by government finance watchdog
A new report on the financial condition of the 50 states ranked Alaska no. 2 for its fiscal health in fiscal year 2023. The report found that 27 states did not have enough money to pay their bills at the end of fiscal year 2023. However, Alaska’s finances worsened.
Unlike most of the other states in this report, Alaska saw a substantial decrease in its money
available to pay its bills. This money available to pay bills decreased by $4.8 billion, in large part
because of the increase in its non-expendable permanent fund balance. The Alaska Permanent
Fund is a state investment fund established to save and grow a portion of Alaska’s oil revenues
for future generations. It funds annual dividend payments to eligible Alaska residents.
The analysis by Truth in Accounting, a non-profit government finance watchdog group, found Alaska had $16.1 billion available to pay its bills. This means the state had a Taxpayer Surplus™ of $55,100, earning it an “A” grade.