Performance Details

Department of Revenue - Treasury Division

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Mission

The mission of the Treasury Division is to manage the State's funds consistent with prudent investment guidelines and Governmental Accounting Standards Board (GASB) rules.

Core Services

• Manage the investment of state funds
• Maintain the state"s credit rating and provide capital financing for state agencies
• Manage unclaimed property and reunite with owners

Mission Results	Core Services
A: Maximize the value of the funds under the stewardship of the Treasury Division. Details > TARGET #1: For the funds under the fiduciary responsibility of the Commissioner of Revenue, exceed the applicable 1-year target returns.	A1: Manage the investment of state funds Details > TARGET #1: Maintain average longevity of the investment officers at or above five years. TARGET #2: At least four investment staff will have their Chartered Financial Analyst (CFA) designation.
Mission Results	Core Services
B: A low cost of State indebtedness. Details > TARGET #1: Yields at which the state issues debt will not exceed 30 basis points of the applicable benchmark.	B1: Maintain the state"s credit rating and provide capital financing for state agencies Details > TARGET #1: Formal visit, bond issue update, or updated document template sent or presented to ratings agencies at least four times per year.
Mission Results	Core Services
C: Unclaimed property owners will be united with their property. Details > TARGET #1: Unclaimed Property will refund more assets each year.	C1: Manage unclaimed property and reunite with owners Details > TARGET #1: Increase the number of first time reporting Alaska companies.

Performance Detail

Target #1: For the funds under the fiduciary responsibility of the Commissioner of Revenue, exceed the applicable 1-year target returns. Methodology: FY2025 one-year return data is for the period 7/1/2024 through 6/30/2025. One-year Return Data for Funds Managed by the Treasury Division Fiscal Year Fund Actual Return Target Return FY 2025 Higher Ed 13.06% 12.99% FY 2025 Int Airport Revenue 5.20% 4.84% FY 2025 Public School 13.03% 12.99% FY 2025 Illinois Creek Reclamation 13.03% 12.99% FY 2025 GeFONSI 2 6.11% 5.73% FY 2025 Retire- Long Term 9.22% 8.98% FY 2025 Retire- Major Med 5.02% 4.68% FY 2025 CBRF 5.02% 4.68% FY 2025 GeFONSI 1 5.23% 4.84% Analysis of results and challenges: A combination of investments that is expected to produce the highest investment return for a given amount of risk is known as a "point on the efficient frontier." Each fiduciary for a fund reviews points on the efficient frontier and selects the combination of investments consistent with their appetite for risk and return of the fund. This selection is known as the target asset allocation. Target returns assume the total rate of return of passively managed indexes invested in the same proportions as the target asset allocation. A fund"s investment return will differ from its target return if its asset allocation differs from the target asset allocation or if the returns of the underlying investments differ from those of the passively managed indexes. Target Last Modified: 11/07/2025

Target #1: Maintain average longevity of the investment officers at or above five years. Average Longevity of Investment Staff Fiscal Year Number of Years FY 2025 11.7 +9.35% FY 2024 10.7 +2.88% FY 2023 10.4 -5.45% FY 2022 11 +7.84% Analysis of results and challenges: A seasoned investment staff contributes to improved investment performance. Target Last Modified: 02/10/2025

Target #2: At least four investment staff will have their Chartered Financial Analyst (CFA) designation. Number of Staff Holding CFA Designation Fiscal Year Number of Staff FY 2025 9 FY 2024 9 FY 2023 9 FY 2022 8 Analysis of results and challenges: The Chartered Financial Analyst (CFA) designation takes a minimum of three years to obtain. Staff are continuing to pursue the Chartered Financial Analyst (CFA) designation. Increased knowledge is important as more assets are internally managed and the complexity of investments increase. Target Last Modified: 11/07/2025

Target #1: Yields at which the state issues debt will not exceed 30 basis points of the applicable benchmark. Methodology: There were no General Obligation Bonds issued during fiscal years 2017-2020 and 2022. Percent of Bonds Issued at Less Than 30 bp Over Benchmark Fiscal Year Percent of Bonds FY 2025 100% FY 2024 100% FY 2023 100% FY 2022 N/A Analysis of results and challenges: There were no state GO debt issuances in FY2017-FY2020 and FY2022. Target Last Modified: 02/10/2025

Target #1: Formal visit, bond issue update, or updated document template sent or presented to ratings agencies at least four times per year. Updates Provided to Ratings Agencies Fiscal Year # of Updates FY 2025 12 FY 2024 11 FY 2023 10 FY 2022 7 Analysis of results and challenges: Presentation and discussion with ratings agencies ensures the proper context is given to the State"s revenue, economic, and debt profile to support the State"s credit ratings. Target Last Modified: 02/10/2025

Target #1: Unclaimed Property will refund more assets each year. Claims Paid per Year Fiscal Year # of Claims Filed # of Claims Paid $ of Claims Paid $ Increase over PY FY 2025 28,748 9,900 $16,008,992 $2,237,556 FY 2024 31,576 13,069 $13,771,436 -$4,744,101 FY 2023 26,031 10,556 $18,515,537 $4,329,941 FY 2022 14,347 8,015 $14,185,596 $8,196,841 Analysis of results and challenges: The Unclaimed Property Program (UCP) staff promotes, educates, and encourages owners to file claims online. In FY2025, over 27 percent of online claims qualified for FastTrack processing and review, with 45 percent of those receiving immediate approval. A total of 3,586 claims were approved and paid within days of receipt, quickly reuniting owners with their property. National news coverage, social media attention and staff outreach has resulted in a significant increase in claims. UCP staff continues to focus outreach efforts on owners of higher-value properties to maximize program impact. Challenges include an increase in fraudulent activity and filing of claims by individuals with no relationship to the property resulting in an increase in open claims. Target Last Modified: 11/07/2025

Target #1: Increase the number of first time reporting Alaska companies. Companies Reporting for First Time Fiscal Year # of 1st Time Reporting FY 2025 198 FY 2024 321 FY 2023 116 FY 2022 59 Analysis of results and challenges: The Unclaimed Property Program (UCP) encourages voluntary compliance as the most effective tool for reporting unclaimed property. An important aspect of voluntary compliance is educating companies about the requirements of Alaska"s Uniform Unclaimed Property Act. Education includes internal state communications, outreach at external conferences, desk audits and web enhancements. Targeted educational outreach to Alaska businesses with no history of reporting, or gaps in reporting was initiated in FY2023. Target Last Modified: 02/10/2025

Last refreshed: 03/04/2026 05:01 pm