Permanent fund trustees shouldn't push POMV

Letter to the editor

Posted: Wednesday, February 16, 2005

I recently received a copy of a flyer, possibly with the newspaper, from the Alaska Permanent Fund Corp. entitled "Permanent Fund 101." The flyer describes some basic history of the permanent fund dividend. I assume the flyer was paid for using public funds. The flyer, however, also argues for the establishment of the percent of market value payout method, or POMV.

While I recall it being mentioned at one time or another that the POMV is considered a management tool, I believe that it also limits payouts to 5 percent. Isn't that a political decision? How can the Permanent Fund Corp. Trustees use public funds to advocate for a political position? Isn't this an issue that is being debated in the Legislature? If the POMV were simply a management tool, the trustees would have used their administrative discretion to establish it, wouldn't they? I understand that trustees can privately advocate positions, but how can they use public funds to promote what is essentially a political decision? Aren't there laws against that?

While I am not necessarily opposed to the POMV, I recognize it as a political position. If the trustees advocate for it they should pay for flyers out of their own pockets, not with public funds.

Steve Wolf


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