Proposed Budget - Fiscal Year 2025
On December 14, Alaska Governor Mike Dunleavy released his recommended budget for fiscal 2025. Total appropriations from all fund sources for fiscal 2025 are $14.1 billion, a .3 percent decline from fiscal 2024. Unrestricted general fund (UGF) appropriations are recommended at $5.0 billion, also a 4.0 percent decline from fiscal 2024. The budget additionally calls for Permanent Fund Appropriations of $2.4 billion, a 149 percent increase from fiscal 2024. The proposed budget forecasts total revenues of $15.5 billion, a .3 percent decline from fiscal 2024, and unrestricted general fund revenue of $6.3 billion, a 3 percent decline from fiscal 2024. The state’s combined rainy day fund balance in the Constitutional Budget Reserve and the Statutory Budget Reserve is projected to be $1.8 billion at the end of fiscal 2025 following a drawdown of $987.2 million due to forecasts of reduced oil prices and production.