Permanent Fund draw now provides two-thirds of Alaska's unrestricted revenue, corporation says

The Permanent Fund's annual draw provided two-thirds of Alaska's unrestricted revenue, money available for state spending and dividends, according to the Alaska Permanent Fund Corporation. The draw was $3.8 billion last fiscal year and funds services and this year's $1,200 dividend, which includes a $200 energy relief payment.

The corporation cited that dependence in its 2026 annual report, released Monday, Sept. 28, for the Fund's 50th anniversary. "Stewardship means honoring that foundation while adapting to evolving markets and Alaska's growing reliance on the Fund," said Deven Mitchell, the corporation's executive director and CEO.

The report, titled "What Alaska Built," lists the Fund at $91.9 billion as of June 30. The release is the corporation's own account and contains no outside assessment.

APFC moved $4.0 billion out of the Earnings Reserve Account, the Fund's spendable earnings, to cover the fiscal 2027 draw and designated $4.1 billion for the fiscal 2028 draw.

Board chair Jason Brune told the Nome Common Council on Monday that trustees are holding their annual meeting in Nome on Wednesday and Thursday, where the public may comment. He told the council that 67 percent of the state's general fund budget is now funded by the Permanent Fund.