May 9, 2011

The special session is continuing and there is still no agreement over the capital budget, but I am happy to report that we reached an agreement on and passed the operating budget.

$1 Billion for the State Savings Account

The operating budget funds the day to day operations of the state, while the capital budget funds construction projects and other mostly one-time items. I am particularly glad that as part of this budget, we deposited $1 billion dollars straight to the state savings account. While Alaska is in a better financial situation than most states, I strongly believe that we need to be fiscally responsible and put savings away for the future.