The Alaska Permanent Fund Corporation (APFC) Board of Trustees held meetings on September 4th to review and approve the annual audited financial statements and advance the FY27 budget proposal to support core talent, security, and investment priorities.
Ethics, Audit & Cybersecurity Committee
The Ethics, Audit & Cybersecurity Committee convened to review the external audit results from KPMG and discuss matters related to cybersecurity and ethics, as part of its oversight responsibilities. In line with state statutes and our commitment to transparency, APFC conducts an annual audit of the Fund’s financials by an independent external auditor. The audit will be included in the Alaska Permanent Fund Corporation’s FY25 Annual Report, which will be released prior to the Board of Trustees’ Annual Meeting scheduled for October 1-2, 2025.
“The work and information presented today reflect the expanded role of the committee in safeguarding the Fund,” said Committee Chair Ryan Anderson. “The Trustees and staff are focused on ensuring APFC’s financial reporting is accurate, transparent, and independently validated, and we have extended that same oversight to ethics, legal matters, and IT security to uphold the trust of all Alaskans.”
Read more about the committee meeting in the full press release, linked below.
Regular Board of Trustees Regular Meeting
CEO Deven Mitchell and CFO Valerie Mertz presented the FY27 Proposed Budget. The Board reviewed and ultimately approved forwarding the budget proposal to the Governor’s Office of Management and Budget for consideration and inclusion in the legislative release. The plan aligns resources with APFC’s mission and supports the high level of investment expertise demanded of APFC through key initiatives:
- Recruit and retain top talent, including fully funded incentive compensation.
- Continue the IT strategic roadmap with necessary upgrades and data center equipment refresh.
- Enhance analytics to support effective, timely investment decision-making.
“APFC’s ability to deliver consistent, competitive returns depends on having the right people, systems, and safeguards in place,” said CEO Deven Mitchell. “This proposed budget is less than last year’s, but still includes those necessary resources so we can continue earning for Alaskans, who rely on the Fund as the state’s largest source of general fund revenue.”
Read more about the Board meeting in the full press release, linked below.