June 30th marked the end of Fiscal Year 2024. At the end of July, the preliminary, unaudited FY24 financial statements will be available online at apfc.org/report-archive.
July 1st marked the beginning of Fiscal Year 2025. At the start of each fiscal year, APFC commits funding for the Percent of Market Value (POMV) draw for the following year – in this case, FY26. The Permanent Fund’s investment earnings – through the POMV draw – are a significant revenue source for the State of Alaska.
The annual POMV draw from the Fund’s Earnings Reserve Account (ERA) provides more than 50% of total Unrestricted General Fund revenue, which the State of Alaska relies heavily on.
The FY25 POMV draw of $3.7 billion is available to support the State’s current FY25 budget. The ERA has realized earnings of $3.8 billion committed for the future FY26 POMV draw.