Juneau – APFC’s Board of Trustees Audit Committee met on September 1st to monitor the integrity of the financial reporting process and the system of internal controls and procedures regarding finance, accounting, and legal compliance, as well as to review the performance and independence of APFC’s external auditors.
In line with state statute and our commitment to transparency, the Alaska Permanent Fund is audited in accordance with generally accepted accounting principles every year by an independent outside financial auditor. The annual audit includes financial statements providing: the amount of money received by the Fund from each investment during the period covered, a market value appraisal of the Fund’s assets, a description of the Fund’s investment activity during the fiscal year, a comparison of the Fund performance with previous years, and an examination of the effect of the investment-related policies.
The Board also held their budget work session to conduct preliminary work regarding the Corporation’s operating budget, with talent retention and recruitment as a top priority. The proposed FY24 budget development was discussed to ensure that APFC will have the resources needed to support the Corporation in successfully filling vacant positions and bolstering necessary technology infrastructure.
During the upcoming Annual Meeting on September 21-22 in Anchorage and via webinar, the FY24 proposed operating budget will be on the agenda for approval. The FY22 Annual Report, including the final audit, will also be released at the meeting.
Board of Trustees meetings are open to the public, and videos of the meeting are available on our website: https://apfc.org/bot-video-archive/.