ITEM TITLE:
Council Consensus: Permanent Fund
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
Provide consensus for final budget figures
SUMMARY STATEMENT:
• Permanent Fund Expenses reflect Advisor fees (Callan), plus fund management fees for UBS Realty (Real Estate) and Alaska Permanent Capital Management (domestic fixed-income).
• Other fund manager fees are reflected via share price
• Meetings expenses are increased to reflect the possibility of teleconferencing meetings at the College. Staff will introduce the topic to the Investment Committee during our November quarterly meeting.
• Revenues are budgeted as a placeholder figure, and are not allocated among the individual funds.
• The anticipated 1.5% transfer to General fund is $2.8MM. This figure will be shown during a later workshop when staff reconciles all the transfers in/out.
• Attachment: Permanent Fund Detail