As a reminder, the bulk of the Legacy Fund comes from oil and gas tax revenue: thirty percent of total revenue derived from taxes on oil and gas production or extraction must be transferred by the State Treasurer to a special fund in the state treasury known as the Legacy Fund.
Let's assume the increase between December and September was all related to oil and gas tax revenue (not from other sources or from investments): the growth was $112,666,378. Thirty percent of what = $113 million? $338,337,471. From September 22, 2015, to "through December" is about two months. $338 million / 2 = about $170 million / month = about $2 billion / year.
State budgets as reported by wiki.
MinnesotaCBS, from January, 2014.
Link here for Legacy Fund numbers.
Previous post:
- As of September 22, 2015, total deposits were $3,258,677,188.91.
- November 5, 2015: funding the Red River Valley Water Supply Project
- June 16, 2015: fees
- October 18, 2014: Legacy Fund ballooning
- July 17, 2014: Legacy Fund receives biggest deposit to date -- $112 million
- June 23, 2014: the cash piles up
- May 30, 2014: strategy for investing Legacy Fund deposits
- May 22, 2014: fund goes over $2 billion; now averaging $80 million / month in deposits
- February 12, 2014: North Dakota budget and fund
- August 29, 2013: update on Legacy Fund
- April 16, 2013: fund tops $1 billion
- May 2, 2011: North Dakota budget
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