Funding

The Alaska Mental Health Trust Authority is charged with the management and safeguarding of Trust assets for the benefit of current and future generations of beneficiaries. The Trust’s cash assets are invested and managed by the Alaska Permanent Fund Corporation (APFC) and the Department of Revenue Treasury Division, both of which invest the Trust’s money in a mix of stocks, bonds and other investments to generate earnings. The Trust Land Office is responsible for managing non-cash assets, which include approximately one million acres of land. Revenue-generating uses of Trust land include land leasing and sales; commercial timber sales; mineral exploration and production; coal, oil and gas exploration and development; and sand, gravel and rock sales. The Trust also owns commercial real estate assets that were purchased between FY12 and FY17. In FY24, trustees authorized the disposal of the properties at prices at or above the appraised value.

As of June 30, 2025, the Trust had $754,458,400 in investments managed by APFC and $73,570,900 in investments managed by the Department of Revenue Treasury Division.

The total amount available each year for trustees to allocate is a combination of the following:

• Annual withdrawal (4.5%* of the previous 4-year average value of the Trust's invested assets)
• Spendable income from land and non-cash assets (2-year average)
• Interest income from cash investments (most recent fiscal year)
• Prior years' unexpended funds (2-year average)

This funding system ensures a predictable and relatively constant cash flow from year to year.

* In 2025, trustees approved an increase in the annual withdrawal from 4.25 to 4.5% starting with the FY27 budget.

Trustees approve operating and capital budgets in two-year cycles, with annual recommendations to the governor and Legislature. While trustees are authorized to spend Trust income without legislative appropriation, they are required by statute to recommend to the governor and Legislature operating and capital budgets for state general funds to support the Comprehensive Integrated Mental Health Program. The governor must then propose and the Legislature must pass a separate bill, known as the Mental Health Budget Bill, which includes budgets for Trust funds and state general funds.

Authority Grants (grants to non-state agencies): $19,442,000

Mental Health Trust Authority Authorized Receipts (grants to state departments): $10,350,800

Agency Budget (inclusive of Trust Authority and Trust Land Office): $10,590,400

• Trust Financial Audit Report, FY25
• Trust Financial Audit Report, FY24
• Trust Financial Audit Report, FY23
• Trust Financial Audit Report, FY22
• Trust Financial Audit Report, FY21
• Trust Financial Audit Report, FY20
• Trust Financial Audit Report, FY19
• Trust Financial Audit Report, FY18
• Trust Financial Audit Report, FY17