How to Download Alaska Revenue Sources Book Fall 2019 MOBI
I am pleased to present to you the Department of Revenue’s Fall 2019 Revenue Sources Book. This publication provides a history and projection of state revenues and is a collaborative effort among the Department of Revenue and several other state agencies. Unrestricted General Fund (UGF) revenue totaled $2.6 billion in fiscal year (FY) 2019 and is forecast to be $2.1 billion in FY 2020 and $2.0 billion in FY 2021. These figures exclude the transfer from the Permanent Fund Earnings Reserve. The Permanent Fund is expected to transfer $2.9 billion to the general fund in FY 2020 and $3.1 billion in FY 2021. These amounts include funds for both payment of dividends and general government spending. For FY 2019, Alaska North Slope (ANS) oil prices averaged $69.46 per barrel. The revenue forecast incorporates the most current indications from financial markets and is based on an annual average ANS oil price of $63.54 per barrel for FY 2020 and $59.00 per barrel for FY 2021. For FY 2019, North Slope oil production averaged 496,900 barrels per day. The forecast assumes that production will decline modestly to 492,100 barrels per day in FY 2020 and 490,500 barrels per day in FY 2021. New fields offer tremendous potential to increase production later in the 2020’s but these developments are still contingent on final investment decisions and commitment of billions of dollars of new investments on the part of oil and gas producers. We hope you find the information provided in the Fall 2019 Revenue Sources Book to be interesting and useful. The department will provide a forecast update in the spring of 2020
