{
  "schemaVersion": "1.0",
  "receiptId": "alas-present-account-0001-calculation-receipt",
  "title": "ALAS Present Account 0001 calculation receipt",
  "generatedFrom": {
    "inputs": "research/alas/present-account-inputs.json",
    "reviewedOutput": "research/alas/present-account-summary.json",
    "methodology": "research/alas/PRESENT-ACCOUNT-METHODOLOGY.md"
  },
  "provenance": {
    "accountRoute": "/treasury/001/",
    "accountAsOf": "2026-08-11",
    "historicalRows": "2016-2025",
    "returnReportingCutoff": "2026-06-30",
    "sourceIds": [
      "gov-2019-pfd-back-pay",
      "gov-2019-pfd-back-pay",
      "gov-2019-pfd-back-pay",
      "gov-2019-full-pfd",
      "gov-2020-economic-plan",
      "apm-2021-statutory-estimate",
      "dor-2022-pfd-relief-split",
      "gov-fy24-full-pfd",
      "akleg-2024-statutory-estimate",
      "gov-fy26-full-pfd",
      "omb-fy27-pfd-outlook",
      "legfin-fy27-enacted-pfd",
      "legfin-fy27-enacted-contingent-relief",
      "ans-2026-signed-pfd-package",
      "pfd-2026-distribution-schedule"
    ]
  },
  "canonicalInputs": {
    "schemaVersion": "2.0",
    "authority": "canonical-source",
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    "asOf": "2026-08-11",
    "accountRoute": "/treasury/001/",
    "unit": "U.S. dollars per continuously eligible Alaskan",
    "model": "fund-linked-modeled-growth",
    "assumedCreditMonthDay": "10-01",
    "returnReportingCutoff": "2026-06-30",
    "returnSource": "apfc-total-fund-series",
    "sourceBoundary": "Historical reference values carry an explicit provenance class. The 2022 reference remains an unverified carried estimate; its filed source supports only the distributed payment composition. Distributed values are official or reported annual payment packages through 2025. Each difference is assumed credited on October 1 and carried using a sourced APFC Total Fund series. Monthly APFC reports are unaudited; the later audited and restated 12.89 percent FY2017 return is used. The signed but undistributed 2026 package is a provisional scenario, and its energy provision remains revenue-dependent.",
    "method": {
      "publicLabel": "Fund-linked modeled growth",
      "classification": "counterfactual benchmark",
      "creditConvention": "Assume each annual difference is credited October 1 of its distribution year.",
      "firstPeriodFormula": "(1 + fiscal-year ending return) / (1 + first-quarter return)",
      "laterPeriodFormula": "1 + fiscal-year ending return",
      "rounding": "Calculate aggregate totals from unrounded annual values, then round to cents."
    },
    "sources": {
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        "label": "Back-pay bill",
        "url": "https://gov.alaska.gov/governor-dunleavy-unveils-pfd-back-pay-legislation/"
      },
      "gov-2019-full-pfd": {
        "label": "Budget proposal",
        "url": "https://gov.alaska.gov/dunleavy-comments-on-senate-finance-committee-proposal-to-fund-full-pfd/"
      },
      "gov-2020-economic-plan": {
        "label": "Economic plan",
        "url": "https://gov.alaska.gov/home/covid-19-economic-plan/"
      },
      "apm-2021-statutory-estimate": {
        "label": "Reported estimate",
        "url": "https://alaskapublic.org/2021/08/25/alaska-house-committee-lowers-proposed-pfd-amount-to-1100/"
      },
      "dor-2022-pfd-relief-split": {
        "label": "PFD and relief",
        "url": "https://dor.alaska.gov/docs/default-source/press-releases/2023_02_17-dor-response-to-irs-guidance-on-2022-pfd.pdf?sfvrsn=9efaa8cc_1"
      },
      "gov-fy24-full-pfd": {
        "label": "FY24 proposal",
        "url": "https://gov.alaska.gov/moving-alaska-forward-dunleavy-administration-releases-fy24-budget/"
      },
      "akleg-2024-statutory-estimate": {
        "label": "Legislative estimate",
        "url": "https://www.akleg.gov/basis/Meeting/Detail?Meeting=SFIN+2024-01-24+09%3A00%3A00"
      },
      "gov-fy26-full-pfd": {
        "label": "FY26 proposal",
        "url": "https://gov.alaska.gov/fy26-governors-proposed-budget/"
      },
      "omb-fy27-pfd-outlook": {
        "label": "OMB published statutory reference",
        "url": "https://omb.alaska.gov/ombfiles/27_budget/PDFs/10-Year_Plan_FY2027_Revised_1.27.2026.pdf"
      },
      "legfin-fy27-enacted-pfd": {
        "label": "Legislative Finance enacted dividend",
        "url": "https://www.legfin.akleg.gov/BudgetReports/LY2026/Operating/Enacted/PFD-TransactionChangeDetail.pdf"
      },
      "legfin-fy27-enacted-contingent-relief": {
        "label": "Legislative Finance enacted energy provision",
        "url": "https://www.legfin.akleg.gov/BudgetReports/LY2026/Both/Supplemental/Enacted/TransDetail.pdf"
      },
      "ans-2026-signed-pfd-package": {
        "label": "Signed PFD and energy-payment package",
        "url": "https://www.alaskasnewssource.com/2026/06/25/governor-signs-state-budget-pfd-education-mt-edgecumbe-school/"
      },
      "pfd-2026-distribution-schedule": {
        "label": "PFD Division distribution schedule",
        "url": "https://pfd.alaska.gov/FAQ/index"
      }
    },
    "rows": [
      {
        "year": 2016,
        "reference": 2083,
        "distributed": 1022,
        "source": "gov-2019-pfd-back-pay",
        "referenceProvenance": "official-calculation"
      },
      {
        "year": 2017,
        "reference": 2389,
        "distributed": 1100,
        "source": "gov-2019-pfd-back-pay",
        "referenceProvenance": "official-calculation"
      },
      {
        "year": 2018,
        "reference": 2928,
        "distributed": 1600,
        "source": "gov-2019-pfd-back-pay",
        "referenceProvenance": "official-calculation"
      },
      {
        "year": 2019,
        "reference": 3000,
        "distributed": 1606,
        "source": "gov-2019-full-pfd",
        "referenceProvenance": "executive-estimate"
      },
      {
        "year": 2020,
        "reference": 3100,
        "distributed": 992,
        "source": "gov-2020-economic-plan",
        "referenceProvenance": "executive-estimate"
      },
      {
        "year": 2021,
        "reference": 3800,
        "distributed": 1114,
        "source": "apm-2021-statutory-estimate",
        "referenceProvenance": "secondary-report"
      },
      {
        "year": 2022,
        "reference": 3810,
        "distributed": 3284,
        "source": "dor-2022-pfd-relief-split",
        "referenceProvenance": "unverified-carried-estimate",
        "sensitivity": "The filed source supports the distributed PFD and energy-relief composition, not the carried reference. Excluded from alternate total."
      },
      {
        "year": 2023,
        "reference": 3800,
        "distributed": 1312,
        "source": "gov-fy24-full-pfd",
        "referenceProvenance": "executive-estimate"
      },
      {
        "year": 2024,
        "reference": 3600,
        "distributed": 1702,
        "source": "akleg-2024-statutory-estimate",
        "referenceProvenance": "legislative-estimate"
      },
      {
        "year": 2025,
        "reference": 3892,
        "distributed": 1000,
        "source": "gov-fy26-full-pfd",
        "referenceProvenance": "executive-estimate"
      }
    ],
    "totalFundReturnPath": [
      {
        "fiscalYear": 2017,
        "firstQuarterReturn": 0.0386,
        "endingReturn": 0.1289,
        "endingDate": "2017-06-30",
        "endingStatus": "audited-restated",
        "firstQuarterSource": "https://apfc.org/download/47/fy-2017/1142/2016sep30-apfc-monthly-performance-report.pdf",
        "endingSource": "https://apfc.org/download/12/annual-reports/1401/2018-apfc-annual-report.pdf"
      },
      {
        "fiscalYear": 2018,
        "firstQuarterReturn": 0.0415,
        "endingReturn": 0.1074,
        "endingDate": "2018-06-30",
        "endingStatus": "published-month-end",
        "firstQuarterSource": "https://apfc.org/download/48/fy-2018/1133/2017sep30-apfc-monthly-performance-report.pdf",
        "endingSource": "https://apfc.org/download/48/fy-2018/1291/2018june30-apfc-monthly-performance-report.pdf"
      },
      {
        "fiscalYear": 2019,
        "firstQuarterReturn": 0.0213,
        "endingReturn": 0.0632,
        "endingDate": "2019-06-30",
        "endingStatus": "published-month-end",
        "firstQuarterSource": "https://apfc.org/download/68/fy-2019/1469/2018sep30-apfc-monthly-performance-report.pdf",
        "endingSource": "https://apfc.org/download/68/fy-2019/1725/2019june30-apfc-monthly-performance-reports.pdf"
      },
      {
        "fiscalYear": 2020,
        "firstQuarterReturn": 0.0124,
        "endingReturn": 0.0201,
        "endingDate": "2020-06-30",
        "endingStatus": "published-month-end",
        "firstQuarterSource": "https://apfc.org/download/81/fy-2020/1828/2019sep30-apfc-monthly-performance-report.pdf",
        "endingSource": "https://apfc.org/download/81/fy-2020/2109/2020jun30-apfc-monthly-performance-report.pdf"
      },
      {
        "fiscalYear": 2021,
        "firstQuarterReturn": 0.0526,
        "endingReturn": 0.2973,
        "endingDate": "2021-06-30",
        "endingStatus": "published-month-end",
        "firstQuarterSource": "https://apfc.org/download/100/fy-2021/2409/2020sep30-apfc-performance-report.pdf",
        "endingSource": "https://apfc.org/download/100/fy-2021/2856/2021jun30-apfc-performance-report.pdf"
      },
      {
        "fiscalYear": 2022,
        "firstQuarterReturn": 0.0269,
        "endingReturn": -0.0132,
        "endingDate": "2022-06-30",
        "endingStatus": "published-month-end",
        "firstQuarterSource": "https://apfc.org/download/119/fy-2022/2984/2021sep30-apfc-performance-report.pdf",
        "endingSource": "https://apfc.org/download/119/fy-2022/3689/2022jun30-apfc-performance-report.pdf"
      },
      {
        "fiscalYear": 2023,
        "firstQuarterReturn": -0.0382,
        "endingReturn": 0.0518,
        "endingDate": "2023-06-30",
        "endingStatus": "published-month-end",
        "firstQuarterSource": "https://apfc.org/download/134/fy-2023/3883/2022sep30-performance-report.pdf",
        "endingSource": "https://apfc.org/download/134/fy-2023/4299/2023jun30-apfc-performance-report.pdf"
      },
      {
        "fiscalYear": 2024,
        "firstQuarterReturn": -0.0053,
        "endingReturn": 0.079,
        "endingDate": "2024-06-30",
        "endingStatus": "published-month-end",
        "firstQuarterSource": "https://apfc.org/download/150/fy-2024/4611/2023sept30-apfc-monthly-performance-report.pdf",
        "endingSource": "https://apfc.org/download/150/fy-2024/5159/2024june30-apfc-monthly-performance-report-updated.pdf"
      },
      {
        "fiscalYear": 2025,
        "firstQuarterReturn": 0.0361,
        "endingReturn": 0.0935,
        "endingDate": "2025-06-30",
        "endingStatus": "published-month-end",
        "firstQuarterSource": "https://apfc.org/download/177/fy-2025/5407/2024september30-apfc-monthly-performance-report.pdf",
        "endingSource": "https://apfc.org/download/177/fy-2025/6881/2025jun30-apfc-monthly-performance-report.pdf"
      },
      {
        "fiscalYear": 2026,
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        "endingReturn": 0.1242,
        "endingDate": "2026-06-30",
        "endingStatus": "unaudited-year-end",
        "firstQuarterSource": "https://apfc.org/download/211/fy-2026/6878/2025sept30-apfc-monthly-performance-report.pdf",
        "endingSource": "https://apfc.org/download/211/fy-2026/7617/2026june30-apfc-monthly-performance-report-2.pdf"
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      "enactedDividend": 1000,
      "signedEnergyPayment": 200,
      "signedPackageTotal": 1200,
      "referenceSource": "omb-fy27-pfd-outlook",
      "dividendSource": "legfin-fy27-enacted-pfd",
      "reliefSource": "legfin-fy27-enacted-contingent-relief",
      "packageSource": "ans-2026-signed-pfd-package",
      "distributionScheduleSource": "pfd-2026-distribution-schedule",
      "boundary": "The signed package combines a 1000 dollar PFD and 200 dollar energy payment. The energy provision remains revenue-dependent in the enacted supplemental record, and the package had not been distributed as of the account date."
    }
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        "modeledGrowth": 1412.84
      },
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        "difference": 1289,
        "modeledValue": 2654.86,
        "modeledGrowth": 1365.86
      },
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        "year": 2018,
        "difference": 1328,
        "modeledValue": 2518.77,
        "modeledGrowth": 1190.77
      },
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        "year": 2019,
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        "modeledValue": 2508.65,
        "modeledGrowth": 1114.65
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        "modeledGrowth": 1468.79
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        "modeledGrowth": 915.01
      },
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        "modeledGrowth": 236.99
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        "year": 2023,
        "difference": 2488,
        "modeledValue": 3317.74,
        "modeledGrowth": 829.74
      },
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        "year": 2024,
        "difference": 1898,
        "modeledValue": 2251.94,
        "modeledGrowth": 353.94
      },
      {
        "year": 2025,
        "difference": 2892,
        "modeledValue": 3114.76,
        "modeledGrowth": 222.76
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    ],
    "historicalThrough2025": {
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      "fundLinkedModeledGrowth": 9111.35,
      "modeledPresentValue": 26781.35,
      "displayedRowsTotal": 26781.35,
      "displayedRowsRoundingDifference": 0,
      "alternateExcluding2022": {
        "formulaReferenceGap": 17144,
        "modeledPresentValue": 26018.36
      }
    },
    "provisional2026": {
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      "enactedDividend": 1000,
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      "signedPackageTotal": 1200,
      "provisionalDifference": 2450,
      "provisionalModeledTotal": 29231.35,
      "differenceWithoutRelief": 2650,
      "totalWithoutRelief": 29431.35
    },
    "noModeledGrowth": {
      "historicalPrincipalDifference": 17670,
      "provisionalTotal": 20120
    },
    "rounding": "Calculate aggregate totals from unrounded annual values, then round to cents. Displayed annual values reconcile to the rounded aggregate.",
    "warning": "Not a court judgment, recognized state liability, individual account balance, guaranteed return, security, entitlement, or financial offer."
  }
}