Alabama Trust Fund Distribution Schedule FY16 First Quarter Forever Wild
Explore the distribution schedule for the Alabama Trust Fund in FY16 First Quarter, with a focus on the Forever Wild program and related financial allocations to various entities.
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Presentation Transcript
Fuel Up For a New Day: Repaying the Alabama Trust Fund or Refuel the ATF by State Treasurer Young Boozer ACCA 87th Annual Convention August 19, 2015 Perdido Beach Resort Orange Beach, AL
ATF Constitutional Amendment 856 September 2012 Provides for the transfer of $145.8 million from the ATF to the General Fund for the fiscal years 2013, 2014 and 2015. Revises the existing method for distributions from the ATF. Bases annual distributions on: 33% of the amount of royalties received in the previous fiscal year 5% of the average market value of invested assets in the ATF as of the end of the three prior fiscal years Creates the County & Municipal Government Improvement Trust Fund (CMT).
County & Municipal Government Improvement Trust Fund Advisory Board Members: Ricky Harcrow, DeKalb County Commission Mark Culver, Houston County Commission Charlie Sankey, Crenshaw County Commission Donald Myers, Guntersville City Council Adam Bourne, Chickasaw City Council Dee Woodham, Montevallo City Council
ATF Cash Flows 1% to Lands Division of Conservation Oil and Gas Royalties 99% to the Alabama Trust Fund CMT Fund 7% ATF Portfolio 32% ACITF 28% ATF Distributions 33% 5% of Rolling 3 year Average MV of ATF Portfolio Cities 10% Counties 10% Forever Wild (1) 10% ATF Distributions Senior Services (2) 1% General Fund (Remaining Balance) 1) FWLT Distributions capped at $15 million annually 2) Senior Services capped at $5 million annually
ATF Asset Allocation July 31, 2015 Market Value Percent Domestic Equity $820,962,437 32.24% International Equity $619,493,658 24.33% Domestic Fixed Income $874,874,477 34.35% Real Estate $200,867,390 7.89% Cash $10,918 0.00% BNYM STIF $30,414,944 1.19% Total Fund $2,546,623,824 100.0%
CMT Asset Allocation July 31, 2015 Market Value Percent Domestic Equity $150,698,964 32.57% International Equity $111,367,768 24.07% Domestic Fixed Income $164,285,900 35.51% Real Estate $35,574,559 7.69% Cash $700,214 0.15% Total Fund $462,627,405 100.0% Total Fund at 06/30/2013: $414,000,000
ATF Distribution Schedule FY16 First Quarter Forever Wild (capped @ $15 million) until FY 2032 $3,743,000 Senior Services Trust Fund (capped @ $5 million) $374,000 General Fund Total $25,828,000 $29,945,000 Second Quarter Forever Wild $3,743,000 Senior Services Trust Fund $374,000 General Fund $25,828,000 Total $29,945,000
ATF Distribution Schedule FY16 Third Quarter County Government Capital Improvement Fund $14,972,000 Municipal Government Capital Improvement Fund $14,972,000 Forever Wild $3,743,000 Senior Services Trust Fund $374,000 General Fund Total $25,828,000 $59,890,000 Fourth Quarter Forever Wild until FY 2032 $3,743,000 Senior Services Trust Fund General Fund Total $374,000 $25,828,000 $ 29,945,000 Total Distributions $149,725,000
CMT Distribution Schedule FY16 Third Quarter Counties $11,005,000 Cities $11,005,000 Total: $22,010,000
ETF Rainy Day Account FY15 Withdrawals: 12/16/2008 7/16/2009 7/30/2009 Total Withdrawals: (221,136,679) (100,000,000) (116,254,149) (437,390,828) Total Replenishments: 437,390,828 Amount Due From Education Trust Fund $0
GF Rainy Day Account FY15 Withdrawals: 8/9/2010 9/29/2010 Total Withdrawals: (123,802,227) (37,763,647) (161,565,874) No Replenishments have been made $0 Amount Due From General Fund: $ 161,565,874
A Possible BP Settlement Year Amount $ 200,000,000 $ - $ - $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 53,333,333 $ 1,000,000,000 Projected Payments 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Projected Present Value @ 4%: $719,465,343
