One of the steps in adopting a sound fiscal plan is to ensure that an adequate amount of information is available to legislators and the public. Existing revenues and new revenue sources have to be considered when developing a plan. One of the methods to accumulate, evaluate and disseminate revenue information is to give direction to a committee to specifically focus on state revenue issues. This can be accomplished through the Legislative Budget and Audit Committee.

Results-based budgeting to evaluate the value of state dollars being spent is one of the tools that assist the legislature in making informed budget decisions. Identifying and implementing sources of state revenue to support an appropriate level of state government is another tool the legislature will need to use for future budget decisions. Directing Legislative Budget and Audit to examine revenue policies will help provide a comprehensive picture toward the long-range goals that meet the needs of the people of Alaska now and well into the future.

As stated in the resolution, LB&A will focus on current and potential revenues and their economic effect. Some of the policy issues that should be studied are:

• investment goals and standards for the state's financial assets and current management policies;
• the return on investment from all of the state's financial assets;
• analysis of potential revenue-generating options and an estimate of specific revenues that would be generated to include the effect of implementing these options; and
• analysis of the results of continued reliance of deficit spending.

HCR 22 resolves that the Legislative Budget and Audit Committee provide its findings and recommendations in a report to the legislature by January 5, 2001.