Permanent Fund has $5.7B uncommitted after reserving next draw, inflation transfer

Alaska's Permanent Fund held $5.65 billion in uncommitted realized earnings on July 31 after the corporation recorded $4.10 billion for the fiscal 2028 draw and $1.705 billion for fiscal 2027 inflation proofing, according to its monthly figures.

That balance is $4.97 billion below the $10.63 billion shown in the audited June 30 statements, but the change was not an investment loss. July added $827.1 million in statutory net income, while the two new commitments assigned $5.80 billion to future uses.

Alaska News previously reported the June balance and the fund's record $8.2 billion in fiscal 2026 statutory net income. The later figure answers a different question: how much remained uncommitted after APFC accounted for the next annual draw and the inflation transfer lawmakers appropriated.

The $1.705 billion inflation transfer is scheduled to move into the constitutionally protected principal in June 2027. The $4.10 billion draw supports the fiscal 2028 budget, including dividends and state services. Until those transfers occur, both amounts remain commitments within the Earnings Reserve Account rather than additions to the protected principal.

APFC describes the shift as the normal start-of-year rollover. The $5.65 billion is not a second measure of fiscal 2026 earnings. It is the amount left uncommitted after the new fiscal-year designations.