Sec. 37.13.310. Corporation to manage the power cost equalization endowment fund.

195 words·~1 min read·/ak/title-37/chapter-13/37-13-310

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(a)The corporation shall manage the power cost equalization endowment fund using the same investment objective and asset allocation as the corporation uses in managing the Alaska permanent fund subject to AS 37.13.120 .

(b)The corporation shall

(1)at least quarterly, prepare a financial report showing investment revenue and expenditures, including the allocation of the cash assets of the power cost equalization endowment fund among investments; and

(2)annually prepare financial statements in accordance with generally accepted accounting principles consistently applied, and an audit report prepared by a certified public accountant.

(c)After preparing a financial statement or report, the corporation shall publish and deliver the financial statement or report to the Alaska Energy Authority, the Department of Commerce, Community, and Economic Development, the senate secretary, and the chief clerk of the house of representatives, and notify the legislature that the financial statement or report is available.

(d)Net income from the power cost equalization endowment fund may not be included in the computation of net income or market value available for distribution or appropriation under AS 37.13.140 .

Article 3. General Provisions.