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High oil prices driven by the war in Ukraine, tight global oil supplies and OPEC’s decision not to pump more crude are adding tens of millions of dollars per month to the Alaska state treasury. The rush of oil revenues is boosting the governor’s push for a larger Permanent Fund dividend for individual Alaskans this fall, while also fueling legislative interest to increase funding for education and deferred maintenance — or just save some of the money for the next time oil prices fall. The Alaska Department of Revenue last week issued its annua...
Ed Rasmuson, a banker and philanthropist who led Alaska's largest philanthropic organization, died Jan. 4 at age 81. He managed the Wrangell branch of the National Bank of Alaska in the late 1960s. Rasmuson was diagnosed with brain cancer about a year ago and entered hospice care three days before Christmas. His oldest daughter, state Sen. Natasha von Imhof, said he died in the company of family in Anchorage. The family said a memorial service will be held sometime in the spring. Rasmuson...
Four students have sued to force the state to maintain a designated fund that provides university scholarships, challenging a decision by the administration of Gov. Mike Dunleavy that emptied Alaska’s $410 million higher education trust fund last year. The change in policy from previous governors eliminated a source of reliable funding for college financial aid, forcing the scholarships to rely on legislative appropriations from the state general fund, same as any other state expense. The Alaska Higher Education Investment Fund provided f...