Legislature(2009 - 2010)

2009-01-22 Senate Journal

Full Journal pdf

2009-01-22                     Senate Journal                      Page 0050
SB 74                                                                                                                         
SENATE BILL NO. 74 BY THE SENATE RULES COMMITTEE                                                                                
BY REQUEST OF THE GOVERNOR, entitled:                                                                                           
          "An Act making appropriations for the operating and                                                                   
          loan program expenses of state government, for                                                                        
          certain programs, and to capitalize funds; making                                                                     
          supplemental appropriations; and making                                                                               
          appropriations under art. IX, sec. 17(c), Constitution                                                                
          of the State of Alaska; and providing for an effective                                                                
was read the first time and referred to the Finance Committee.                                                                  

2009-01-22                     Senate Journal                      Page 0051
Governor's transmittal letter dated January 21:                                                                                 
Dear President Stevens:                                                                                                         
Today I am transmitting to you the FY2010 operating budget bill.  As                                                            
I indicated when I released the budget on December 15, 2008, this                                                               
budget is consistent with the fiscal plan that has guided this                                                                  
administration and builds on our commitment to live within our                                                                  
means, save for the future, and control government spending.                                                                    
When the budget was released on December 15, 2008, our revenue                                                                  
forecast indicated that we would have a FY2010 budget surplus of                                                                
nearly $390 million that would flow into the constitutional budget                                                              
reserve fund at the end of the fiscal year based upon a per barrel oil                                                          
price of $74.41.  We all know that oil prices currently are well below                                                          
that price.  We will continue to closely monitor oil price and                                                                  
production and will be providing updated revenue information for                                                                
your consideration.                                                                                                             
The good news is that Alaska has tools in place to address these                                                                
challenges; fiscal discipline and prudent use of reserves to stabilize                                                          
Alaska's economy, keep Alaskans employed, and industry moving.  I                                                               
look forward to working with the Legislature to finalize the operating                                                          
budget for the upcoming fiscal year.                                                                                            
Sarah Palin