Sec. 37.23.040. Portfolio restrictions.
The portfolio of an investment pool under this chapter may not contain (1) more than five percent of total investments in securities of one issuer unless the securities are an obligation of or guaranteed by the United States; or (2) transactions in futures, options, derivative securities, or short sales.
Sec. 37.23.050. Investment management.
The public entities participating in an investment pool under this chapter shall provide for management of investments in the pool by contracting for investment management and related services with (1) a securities broker-dealer registered under AS 45.56.300 and under 15 U.S.C. 78o (Securities Exchange Act of 1934); (2) an investment adviser registered under AS 45.56.340 […]
Sec. 37.23.060. Investment responsibilities.
The management and investment of assets by investment pools shall be done with the care, skill, prudence, and diligence under the circumstances then prevailing that an institutional investor would use in the conduct of an enterprise of a like character and with like aims.
Sec. 37.23.070. Reports; disclosure statement.
(a) The manager of an investment pool shall provide to the participating public entities a monthly report on the allocation of income of investments of the pool and describing activities of the pool. At least annually, the manager of an investment pool shall provide a disclosure statement on the management and operation of the pool […]
Sec. 37.23.080. Annual audit.
By September 30 of each year, the manager of an investment pool shall submit to the participating public entities an audit of the pool’s investments as of June 30 of that year. The audit must be performed by a certified public accountant licensed under AS 08.04 who is not (1) an employee of a public […]
Sec. 37.23.090. Limitation of liability.
The state, except when providing investment management and related services under AS 37.23.050(3), and participating public entities are not liable for any acts or omissions of an investment manager with whom the participating entities have contracted for investment management and related services under AS 37.23.050.
Sec. 37.23.900. Definition of “public entity.”
In this chapter, “public entity” means a political subdivision of the state, including a municipality and its subdivisions, a school district, a regional educational attendance area, or an organization composed of political subdivisions of the state.
Sec. 37.25.010. Unexpended balances of one-year appropriations.
(a) The unexpended balance of a one-year appropriation authorized in an appropriation bill lapses on June 30 of the fiscal year for which appropriated. However, a valid obligation (encumbrance) existing on June 30 is automatically reappropriated for the fiscal year beginning on the succeeding July 1 if it is recorded with the Department of Administration […]
Sec. 37.25.020. Unexpended balances of appropriation for capital projects.
An appropriation made for a capital project is valid for the life of the project, and the unexpended balance shall be carried forward to subsequent fiscal years if substantial, ongoing work on the project has begun within five years after the effective date of the appropriation. Between July 1 and August 31 of each fiscal […]
Sec. 37.25.050. Methods of disbursement.
(a) Except as provided in (b) of this section, unless federal law requires otherwise, a state agency may not disburse money unless the disbursement is made (1) by an electronic funds transfer to an account in a financial institution; or (2) from an account established by the state agency by contract with a financial institution […]