(a) The principal of the fund and any capital gains or losses realized on the principal shall be retained perpetually in the fund for investment as specified in Alaska Stat. § 37.14.520.
Terms Used In Alaska Statutes 37.14.530
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(b) The net income account of the fund may be appropriated for the following purposes:
(1) reimbursement to the Department of Revenue for the costs of establishing and managing the fund;(2) the administrative expenses of the Museum Collection Advisory Committee relating to acquisitions from the fund, as determined by the legislature;(3) acquisitions authorized by Alaska Stat. § 14.57.100 – 14.57.199; and(4) reimbursement of other costs of administration of the fund.(c) The balance remaining in the net income account that, at the end of the fiscal year, has not been appropriated, or that has been appropriated but not expended, shall be invested until appropriated or expended.
