HomeMy WebLinkAboutREFundAnalysis-09-30-19Fund Income Sources:Fund Totals
SOA Fund Capitalizations 271,004,590$
Investment Income (Note 1):
Cumulative as of June 30, 2019 11,731,235
July 1, 2019 through September 30, 2019 (Note 2)184,145
Total Sources of Fund Income 282,919,970
Fund Income Uses:
REF Grant Program Expenditures 237,717,807
Cumulative Grant Administration - Operating (FY11 to current)14,033,697
Total Uses of Fund Income 251,751,504
Net Fund Balance @ 09/30/19 31,168,466
Uncommitted Fund Balances:
Commitments -
Grant Encumbrances (11,047,514)
Remaining Budget Committed to Grants (6,436,035)
Remaining Budget Committed to FY20 Operating Costs (1,948,142)
Net Uncommitted Fund Balance 11,736,776
Reappropriation Items:
FY18 Rural Power Systems Upgrades (Note 3)(3,156,000)
Adjusted Fund Balance @ 09/30/19 8,580,776
FY21 Budget Items:
FY21 Operating Budget Appropriation (proposed)(1,400,000)
Adjusted Fund Balance @ 07/01/20 7,180,776$
Notes:
Note 1: Investment earnings are retained with the Fund
Note 2: Investment earnings are through September 30, 2019
Note 3: TSSLA 2017, CH. 1, FCCS SB 23, SEC 12, PAGE 17, LINES 4-7
ALASKA ENERGY AUTHORITY
Renewable Energy Grant Fund Analysis
As of September 30, 2019
Fund Purpose: To make grants for renewable energy projects based on a methodology for ranking
proposals and making recommendations to the legislature to award the grants for the purpose of
financing certain energy projects in Alaska. The Authority administers the Fund distinct from other
funds of the Authority. The Fund investments are managed by the State Department of Revenue. In
consultation with an advisory committee, the Authority makes recommendations to the legislature
regarding eligible energy projects. The legislature may appropriate money for grants from the
renewable energy grant fund for renewable energy projects. Statutory Authority: AS 42.45.045
H:\AIDEA and AEA LEGISLATION & BUDGET FOLDERS\2020 Legislation and Budget FY2021\AEA\REF\REFundAnalysis-09-30-19.xlsxrecap V2