House Approves $1.6 Billion FY10 Supplemental Budget Bill
|$401 Million to fully repay the CBR, $1.1 billion to forward-fund K-12 education|
Posted: March 29, 2010
(Juneau) - The Alaska State House today unanimously passed House Bill 326, the Fiscal Year 2010 supplemental budget authorizing operating appropriations and fund transfers. The bill appropriates a total of $1,682.6 billion dollars, of which $1,520.5 billion is in fund transfers, $5.0 million for fund capitalization, and $157.1 million for agency operations.
I am proud to have been a part of the past three legislative sessions, where the finance committees in both houses have replenished $5.25 billion into the CBR, and thank the members of both bodies for supporting the transfers.
HB 326 authorizes two significant fund transfers: $1.1 billion to forward-fund K-12 education for Fiscal Year 2011 and $401 million to fully repay past borrowings from the Constitutional Budget Reserve Fund, or CBR. House Finance Committee Co-Chair Mike Hawker, R-Anchorage, noted “the fund transfer to the CBR is a significant accomplishment representing a concerted effort by legislators over the past three years of high oil prices to repay the debt owed to the state’s savings account.”
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