Title 37 — Public Finance
17 chapters · 393 sections in this title.
AS 37.10.010 Disbursements.
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The Department of Administration shall (1) disburse money only upon vouchers certified by the department, establishment, or agency concerned, or an officer or employee of it authorized in writing to certify the vouchers; (2) make an examination of vouchers necessary to ascertain …
AS 37.10.020 Vouchers to be approved by administrative officer.
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A voucher arising from the conduct of an office or administration of the state shall be approved by the administrative officer before reference to the Department of Administration for payment.
AS 37.10.030 Responsibility of officer or employee approving or certifying voucher.
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(a) The officer or employee approving or certifying a voucher (1) is responsible for the existence and correctness of the facts recited in the certificate or stated on the voucher or its supporting papers and for the legality of the proposed payment under the appropriation or fun…
AS 37.10.040 Enforcement of liability.
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Article 2. Charges for State Services; Accounting. The liability of a certifying officer or employee is enforced in the same manner as provided by law with respect to enforcement of the liability of a disbursing and other accountable officer.
AS 37.10.050 Charges by state agencies; collection, accounting, and deposit of state money.
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(a) A state agency may not charge a fee for the provision of state services unless the fee (1) is set or otherwise authorized by statute; and (2) where a regulation is necessary, is set by or provided for in a regulation that meets the standards of AS 44.62.020 and 44.62.030. Unl…
AS 37.10.052 Fees levied by resource agencies for designated regulatory services; negotiated service agreements.
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(a) Each resource agency shall, by regulation, establish a list of fixed fees for standard designated regulatory services that it provides. A fixed fee adopted under this subsection may not exceed the estimated average reasonable direct cost incurred by the resource agency in pro…
AS 37.10.054 Invoices for designated regulatory services.
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(a) Unless a negotiated service agreement reached under AS 37.10.052(b) or (c) provides otherwise, a resource agency charging a fee for providing a designated regulatory service other than a standard designated regulatory service for which a fixed fee has been established under A…
AS 37.10.056 Petitions to adopt regulations.
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A person requiring a designated regulatory service from a resource agency may petition the resource agency under AS 44.62.220 and 44.62.230 to adopt regulations that would establish, for a category of designated regulatory services, a fixed fee that is (1) confined to the distinc…
AS 37.10.058 Definitions.
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In AS 37.10.050 — 37.10.058, (1) “agency” means a board, commission, or agency in the legislative, judicial, or executive branch, but does not include the University of Alaska or a public corporation; (2) “designated regulatory service” means a regulatory service provided under t…
AS 37.10.060 Department of Revenue to deposit money in state treasury.
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Article 3. Investment and Deposit of State Funds. All fees and receipts received by the Department of Revenue from any source shall be deposited in the state treasury at least once each month, and credited by the department to the proper fund.
AS 37.10.065 Investment of the Alaska Permanent Fund. [Repealed, § 10 ch 18 SLA 1980. For current law see AS 37.13.]
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[Repealed or reserved.]
AS 37.10.070 Investment of residual money.
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(a) The commissioner shall invest, as set out in AS 37.10.071, the money in the state treasury above an amount sufficient to meet immediate expenditure needs. In managing the invested assets, the commissioner shall (1) consider the status of the assets and liabilities on both a c…
AS 37.10.071 Investment powers and duties.
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(a) In making investments under this section, the fiduciary of a state fund shall (1) act as official custodian of cash and investments by securing adequate and safe custodial facilities for them; (2) receive all items of cash and investments; (3) collect and deposit the principa…
AS 37.10.075 Deposit of state funds.
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(a) When the commissioner of revenue determines that there are funds in the state treasury that are not being used for the purposes provided for in AS 37.10.070, they may be deposited in financial institutions. Collateral may be required by the commissioner to secure state deposi…
AS 37.10.078 Prohibited deposits and investments in certain banks.
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The commissioner of revenue may not make investments or deposits with a bank doing business in Alaska that has a general practice of (1) charging a fee for handling disbursements issued by the state; or (2) refusing to handle disbursements issued by the state.
AS 37.10.079 Secs. 37.10.079 , 37.10.080. Purchase and sale of bonds. [Repealed, § 33 ch 141 SLA 1988.]
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[Repealed or reserved.]
AS 37.10.085 Financial aid to corporations by state or political subdivision.
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(a) Except as provided in AS 14.40.458, (c) or (d) of this section, or AS 37.10.089, neither the state nor a political subdivision of the state may (1) make a subscription to the capital stock of a corporation; (2) lend its credit for the use of a corporation; or (3) borrow money…
AS 37.10.087 Loans to bond construction funds.
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(a) (1) When a construction fund or account established to receive the proceeds of state general obligation bonds is temporarily exhausted, the commissioner of administration on recommendation of the state bond committee may temporarily transfer money from the general fund to the…
AS 37.10.088 Department of Administration authorized to make advances to the University.
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(a) During any fiscal year the Department of Administration may make advances to the University of Alaska against verified receivables from appropriations for grants and contracts from federal or private sources of the university and upon condition that the university reimburse t…
AS 37.10.089 Loans to the education loan fund; bond purchase agreements and letters of credit.
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Article 4. Recovery of Money or Property Illegally Paid or Diverted. (a) If the education loan fund (AS 14.42.210) is unable to fully finance loan demand in a fiscal year, the commissioner may invest in the education loan fund for the purpose of financing education loans under AS…
AS 37.10.090 Action by attorney general.
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Whenever money, funds, or property of a city, school district, municipal government, or the state are illegally paid or are diverted for an illegal purpose, or paid to a person not authorized by law to receive them, they may be recovered by an action instituted by the attorney ge…
AS 37.10.100 Costs of action and disposition of amount recovered.
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Article 5. Vocational Education Account. (a) The necessary and reasonable costs of the suit and of the additional counsel shall be advanced by the state, and a sum recovered in the suit shall be deposited in the state treasury. (b) If the sum recovered as described in (a) of this…
AS 37.10.200 Vocational education account.
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Article 6. Alaska Retirement Management Board. (a) The vocational education account is created in the general fund. (b) The account consists of (1) appropriations made by the legislature to the account; (2) gifts, bequests, and contributions; and (3) income and earnings of the ac…
AS 37.10.210 Alaska Retirement Management Board.
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(a) The Alaska Retirement Management Board is established in the Department of Revenue. The board's primary mission is to serve as the trustee of the assets of the state's retirement systems, the State of Alaska Supplemental Annuity Plan, and the deferred compensation program for…
AS 37.10.215 Attorney general.
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The attorney general is the legal counsel for the board and shall advise the board and represent it in a legal proceeding.
AS 37.10.220 Powers and duties of the board.
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(a) The board shall (1) hold regular and special meetings at the call of the chair or of at least five members; meetings are open to the public, and the board shall keep a full record of all its proceedings; (2) after reviewing recommendations from the Department of Revenue, adop…
AS 37.10.230 Conflicts of interest.
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(a) Trustees are subject to the provisions of AS 39.50. (b) If a trustee acquires, owns, or controls an interest, direct or indirect, in an entity or project in which assets under the control of the board are invested, the trustee shall immediately disclose the interest to the bo…
AS 37.10.240 Regulations and open meetings.
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(a) The board may adopt regulations to implement AS 37.10.210 — 37.10.390. Regulations adopted by the board are not subject to the Administrative Procedure Act (AS 44.62). The board shall adopt regulations required by AS 36.30.015(f) relating to procurement. The board shall compl…
AS 37.10.250 Compensation of trustees.
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Trustees, other than trustees who are employees of the state, a political subdivision of the state, or a school district or regional educational attendance area in the state, receive an honorarium of $400 for each day spent at a meeting of the board or at a meeting of a subcommit…
AS 37.10.260 Staff.
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(a) The Department of Revenue shall provide staff for the board. (b) The board may designate a trustee or an officer or employee of the Department of Revenue to be responsible for signing on behalf of the board a deed, contract, or other document that must be executed by or on be…
AS 37.10.270 Investment advisory council.
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(a) The board may appoint an investment advisory council composed of at least three and not more than five members. Members of the council shall possess experience and expertise in financial investments and management of investment portfolios for public, corporate, or union pensi…
AS 37.10.280 Insurance.
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The board shall ensure that trusteed assets and its own services are protected. The board may purchase insurance or provide for self-insurance retention in amounts recommended by the commissioner of revenue and approved by the board to cover the acts, including fiduciary acts, er…
AS 37.10.290 Exemption from taxation.
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Except as provided in AS 29.45.030(a) for property acquired through foreclosure or deed in lieu of foreclosure, the board and all properties at any time owned by it, managed by it, or held by it in trust, and the income from those activities, are exempt from all taxes and assessm…
AS 37.10.300 Limitations.
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The board may not engage in commercial banking activity or private trust activity. The board may not act as a depository or trustee for a private person, association, or corporation. The board may not act as a lender to a private person, association, or corporation of money from …
AS 37.10.310 Pension forfeiture by public officers convicted of crimes involving corruption.
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(a) A public officer, as defined in AS 39.52.960, a legislator, or a person employed as a legislative director, as that term is defined in AS 24.60.990, who is convicted of a federal or state felony offense of bribery, receiving a bribe, perjury, subornation of perjury, scheme to…
AS 37.10.390 Definitions.
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Article 7. Constitutional Budget Reserve Fund. In AS 37.10.210 — 37.10.390, unless the context otherwise requires, (1) “board” means the board of trustees of the Alaska Retirement Management Board; (2) “fund” means the fund or funds composed of the assets of each of the retiremen…
AS 37.10.410 “Administrative proceedings involving taxes” defined.
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(a) The following money received by the state is considered to be received as a result of the termination of an administrative proceeding for purposes of applying art. IX, sec. 17(a), Constitution of the State of Alaska: (1) past due taxes that are received by the state for each …
AS 37.10.420 “Money available for appropriation” defined.
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(a) For purposes of applying art. IX, sec. 17(b), Constitution of the State of Alaska, (1) “the amount available for appropriation” or “funds available for appropriation” means (A) the unrestricted revenue accruing to the general fund during the fiscal year; (B) general fund prog…
AS 37.10.430 Management of the budget reserve fund.
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(a) The Department of Revenue may transfer management responsibility over all or a portion of the budget reserve fund (art. IX, sec. 17, Constitution of the State of Alaska) to the Alaska Permanent Fund Corporation. (b) By March 15 of each year, the Department of Revenue shall, a…