Budget Cycle

Governor Submits Budget
December 15

Fiscal Year Begins
July 1
Governor Signs Budget 

Budget Links

FY2024 (proposed)
FY2023 (enacted)
FY2022 (enacted)
FY2021 (enacted)
FY2020 (enacted)
FY2019 (enacted)

Proposed Budget - Fiscal Year 2024

On December 15, Alaska Governor Mike Dunleavy released his recommended budget for fiscal 2024. Total state spending from all fund sources for fiscal 2024 is $11.4 billion in the governor’s budget, a 15.5 percent decline from fiscal 2023 total appropriations, with the decline driven partly by reduced federal funds. The fiscal 2024 budget calls for federal fund expenditures of $4.8 billion, a 19.8 percent decline from fiscal 2023 appropriated levels. Unrestricted general fund (UGF) spending is recommended at $4.8 billion in fiscal 2024, a 14.9 percent decline from fiscal 2023 levels. The governor’s UGF budget is based on $3.4 billion in unrestricted revenue, an 11.8 percent decline from the fiscal 2023 estimate. The state’s combined rainy day fund balance in the Statutory Budget Reserve and the Constitutional Budget Reserve is projected to be $2.1 billion at the end of fiscal 2024. Due to lower-than-expected oil prices, the proposed budget includes a drawdown of $20 million from the Statutory Budget Reserve and $245 million from the Constitutional Budget Reserve. The budget also calls for drawdown from the Permanent Fund Earnings Reserve Account (ERA) for Permanent Fund Dividend (PFD) payments.

Proposed Budget Highlights 

The governor’s proposed budget for fiscal 2024 focuses on strategic investments in public protection, economic security, and development. The recommended budget fully funds public education, the Alaska Marine Highway System, and Power Cost Equalization. The budget also continues to invest in public safety, leverages incoming federal infrastructure funds, retires millions of dollars in debt, and includes a new initiative to market Alaska as more than just a tourist destination. Highlights of the budget proposal include: 

2023 PFD Payment

  • $2.4 billion for a full statutory PFD to every eligible Alaskan.
  • $3800 estimated PFD in fall 2023.

Marketing Alaska

  • $5 million for a new marketing campaign to promote Alaska as an opportunity for national and international businesses, with a goal of diversifying and expanding Alaska’s economy while creating new jobs for Alaskans.

Public Safety

  • Invests $3.3 million for 30 new technical and administrative support staff positions for the Department of Public Safety.
    • New support staff will allow state troopers to focus on investigating criminal activity and apprehending criminals.

Alaska State Defense Force (ASDF)

  • $2.5 million to modernize the ASDF into a professional, full time emergency response and disaster assistance organization.
  • Creates a rapid response team within communities in the event of a disaster or emergency.

 Public Health and Wellness

  • $9.5 million for the Healthy Families Initiative, including $1.2 million to enhance community-based domestic violence and sexual assault prevention and intervention programs.

 Fisheries Research

  • $285 thousand to restore Yukon Kuskokwim Region Fisheries Management and Assessment programs and $800 thousand to restore and maintain Bristol Bay Science and Research Institute Watershed projects.

 Statehood Defense

  • $10 million in capital budget funds to defend statehood and the constitutional right to develop Alaska’s resources by bringing in outside counsel and expertise for the Statehood Defense Initiative.


  • $6.4 million to fund the second year of the Alaska Reads Act.
  • $1 million for the Alaska Native Science and Engineering Program Partnership.


  • $127 million state match to secure $1.25 billion in federal Infrastructure Investment and Jobs Act funding for transportation infrastructure statewide.
  • $13.6 million for Alaska Marine Highway System operations.

 Capital Budget

  • $25 million state match leveraging $222 million in federal funding for village safe water and wastewater infrastructure projects.
  • $22 million for Alaska Marine Highway vessel overhaul and shoreline facilities rehabilitation.
  • Various other projects focused on highway improvements, rural professional housing, renovations, a veterans cemetery, critical minerals mapping, a drone program, food security projects, energy projects, and a new daycare facility.