Senate Passes Capital Budget

Tuesday, May 10th, 2011

The Senate has passed its version of the FY2012 Capital Budget providing funds for important projects to keep Alaska’s economy moving.  The Capital Budget appropriates money for one-time expenditures such as road and school construction; and public works infrastructure.  It is one of the most important policy documents the legislature considers.  As Co-Chair of the Senate Finance Committee, I’ve worked with colleagues to enhance state savings and guarantee our state’s economic needs are addressed.  I was responsible for drafting the budget and presenting it to the Senate.  Here are some excerpts from my speech…

Tags: Bert Stedman, Capital Budget, Infrastructure
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Legislature Passes Operating Budget

Friday, May 6th, 2011

The Legislature has passed the FY2012 Operating Budget.  The budget funds the workings of state government, provides important public services, and is the only bill the legislature is required to pass during session.

Part of my role as Co-Chair of the Senate Finance Committee is working with colleagues to draft appropriation bills.  Through this year’s process, the Senate made several revisions to improve the state’s operating budget.  This included cutting $4 million from the governor’s budget request, and only adding select items to meet the needs of Alaskans.

The Senate included several provisions in the budget that will benefit Alaskans.  First and foremost was savings.  The operating budget adds $1.4 billion to state savings, bringing our proposed savings to nearly $2 billion this year.  It’s vital that Alaska set aside surplus revenue to solidify our state’s economic future, and I’m pleased the Senate took the lead on this issue.

The budget also includes two items that will aid communities and improve transportation across our state.  Community Revenue Sharing received $80 million to share state wealth with local governments and help communities and schools deal with high fuel prices.

The legislature also set aside $60 million to construct a new vessel for the Alaska Marine Highway system.  Our state’s ferry fleet plays a vital role in the economy and quality of life in our communities.  Currently, over one-third of our state ferries were brought on-line shortly after statehood.  It’s time to make upgrades to our aging fleet, and our state has the resources and facilities to do so.  Along with previously allocated funds, AMHS now has the funds needed to move the Alaska Class Ferry project forward to fully design and construct a new vessel for our fleet.

I’m pleased with the legislature’s work and look forward to advancing these issues during the last few weeks of session.

Tags: Alaska Marine Highway, Bert Stedman, Budget, Transportation
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