Improving Albertans' Quality of Life
Heritage Fund to receive injection from surplus
November 20, 2007
Alberta’s Heritage Fund is on course to grow by more than a billion dollars this year after another deposit from the province’s unanticipated surplus.
According to the in-year surplus allocation policy, cash available from the unanticipated surplus is to be divided one-third to savings and investments, and two-thirds to capital spending, of which at least half must be used for capital maintenance. As of the second quarter of the 2006-07 fiscal year, $825 million has been committed to the Heritage Fund.
In addition, $496 million is forecast to be retained in the Fund for inflation-proofing the Fund, as detailed in the Alberta Heritage Savings Trust Fund 2007-08 Second Quarter Update (pdf).
As of September 30, 2007, the fair value of the Heritage Fund stood at $16.1 billion. Throughout its 31-year history, the Fund has generated approximately $30 billion in investment income that has improved the quality of life in the province.
See the left-side menu above for more information about the Heritage Fund, or use the quick links below to access highlighted topics.
News
Second Quarter Update news release
Higher surplus injects dollars to Heritage Fund and Capital Account
2007-08 Heritage Fund Second Quarter Report - November 20, 2007 (pdf)
