Governor Releases Fiscal Year
& Vows to Slow the Trend
of Government Growth
December 11, 2007
Staying with her commitment to slow the growth of government,
Governor Sarah Palin on MOnday released the fiscal year 2009
Operating and Capital Budgets. The budgets total $4.4 billion
in general funds and $8.3 billion in total funds.
"We are also proposing to save and invest $1.9 billion for
the future, which is more than the $1.8 billion proposed in state
agency operations," said Governor Palin.
Prior to the Palin administration, Alaskans had seen growth in
government spending averaging 14 percent a year. Even with skyrocketing
costs such as energy prices, health care and retirement costs,
the Palin administration is committed to find way to slow the
growth. It has changed direction by proposing a 1 percent increase
in agency operations and a 4 percent increase in total General
"This budget was built on a foundation with four core principals
saving for the future, living within our means, expanding
resource development and focusing our investments on core services,"
said Governor Palin. "We have funded core services and prioritized
spending to enable us to focus on areas such as resource development,
education, public health and safety - which will have a positive
impact on our State's future."
Highlights of Governor Palin's budget priorities for fiscal year
- Invest more than $1 billion
a year in K-12 education.
- $100 million for school construction
and major maintenance.
- $10.1 million for workforce
training and expanding health care, engineering and construction
management programs at the University of Alaska.
- $20.3 million to increase
assistance to low income seniors.
- $75 million to share the state's
oil wealth with local communities (an increase of more than 50
percent) to allow communities to provide tax relief or to help
meet local priorities.
- $406 million to help offset
the rising retirement costs for the state, local governments
and local school districts.
- Federal surface transportation
program of $237 million plus $71 million in general funds for
other highway improvements including traffic relief in south
- Deposit $379 million into
the Constitutional Budget Reserve.
- $4.5 million to fill 20 vacant
trooper positions and add 11 new trooper and court security officers.
- Deposit $2.4 billion from
the Permanent Fund Earnings Reserve into the corpus of the Permanent
Fund - the largest in state's history.
The fiscal year 2009 capital
and operating budgets were released five days prior to the December
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