Last Dance

Sitka Fine Arts Camp elementary age campers dance with instructor Brendan Jones in their final day of camp today at the Sheldon Jackson College Campus. Middle School Camp, for grades seven thru nine, begins Monday. Registration is still open at 907-747-3085. (Sentinel Photo by Klas Stolpe)

Simply Three Return to Perform at Harrigan
14 Jun 2024 14:46

By SHANNON HAUGLAND
Sentinel Staff Writer
    The Simply Three trio promises an evening of original [ ... ]

Two Sitka Projects on Fed Funding List
14 Jun 2024 14:17

By SHANNON HAUGLAND
Sentinel Staff Writer
    The Assembly received a piece of good news Tuesday wi [ ... ]

Peltola Bill Gives Coast Guard Boost
14 Jun 2024 13:58

By Sentinel Staff
    The U.S. House of Representatives gave unanimous approval today to a bill sp [ ... ]

Local Trails Repaired By Citizen Volunteers
14 Jun 2024 13:04

By GARLAND KENNEDY
Sentinel Staff Writer
    Volunteers turned out in force June 1 to repair damage [ ... ]

No Sign Yet Of Missing Woman
14 Jun 2024 13:03

By Sentinel Staff
    The search for a woman reported missing near Ketchikan is focused on Ward La [ ... ]

High School Sues For Lower Sports Division
14 Jun 2024 13:01

By JAMES BROOKS
Alaska Beacon
    This March, the Monroe Catholic Rams were among the four best lar [ ... ]

Dunleavy Names New Fishery Panel Member
14 Jun 2024 12:59

By NATHANIEL HERZ
Northern Journal
    In May, the Alaska Legislature narrowly rejected a conservat [ ... ]

2 Accused of Smuggling Snowmachines to Russia
14 Jun 2024 12:55

By JAMES BROOKS
Alaska Beacon
    Federal officials have indicted two men for allegedly attempting  [ ... ]

June 14, 2024, Police Blotter
14 Jun 2024 12:48

Police Blotter
Sitka police received the following calls by 8 a.m. today:
June 13
At 1:33 a.m. a woman  [ ... ]

June 14, 2024, Community Happenings
14 Jun 2024 12:47

Climate Connection: Electric Panels
Electrifying our lives prompts questions about whether our home e [ ... ]

No On-Site Attorney Poses City Problems
13 Jun 2024 15:09

By SHANNON HAUGLAND
Sentinel Staff Writer
    After extensive recruiting efforts and no prospects i [ ... ]

Oil Spill Traced to Forgotten Boat Sinking
13 Jun 2024 15:08

By GARLAND KENNEDY
Sentinel Staff Writer
    An oil slick that appeared on the surface of the water [ ... ]

Arts Camp Veteran to Play Concert
13 Jun 2024 15:07

By SHANNON HAUGLAND
Sentinel Staff Writer
    Thirteen years ago Raph Shapiro spent the summer in S [ ... ]

Royalty-Free Leases Fail to Entice Bidders
13 Jun 2024 14:41

By YERETH ROSEN
Alaska Beacon
    A state oil and gas auction that offered royalty-free leases in t [ ... ]

June 13, 2024, Police Blotter
13 Jun 2024 14:39

Sitka police received the following calls by 8 a.m. today:
June 12
An incident of drunkenness was repo [ ... ]

June 13, 2024, Community Happenings
13 Jun 2024 14:37

Soil Core May
Offer Portal to
Sitka’s Past

A soil core sample will be taken from Swan Lake Saturday [ ... ]

Assembly Postpones Visit Sitka Funding
12 Jun 2024 15:32

By SHANNON HAUGLAND
Sentinel Staff Writer
    Assembly members discussed possible future paths for  [ ... ]

Sitka Breaks Decades-Old High Temp Record
12 Jun 2024 15:26

By GARLAND KENNEDY
Sentinel Staff Writer
    A decades-old record for Sitka’s highest temperature [ ... ]

Woman Missing In Ketchikan
12 Jun 2024 15:25

By Sentinel Staff
    A search was under way today for a 48-year-old Ketchikan woman reported miss [ ... ]

State Supreme Court Posts a Job Opening
12 Jun 2024 15:24

By JAMES BROOKS
Alaska Beacon
    A wave of retirements on the Alaska Supreme Court is nearing its  [ ... ]

Ranked Choice Repeal Measure Wins Ruling
12 Jun 2024 15:21

By JAMES BROOKS
Alaska Beacon
    An Anchorage Superior Court judge has ruled in favor of a propose [ ... ]

Fairbanks Woman Accused Of Theft from Bingo Parlor
12 Jun 2024 15:16

By JAMES BROOKS
Alaska Beacon
    Federal prosecutors have accused a Fairbanks woman of stealing fr [ ... ]

June 12, 2024, Community Happenings
12 Jun 2024 15:14

Elder Coffee Time
On Summer Break
Sitka Tribe of Alaska’s community elders coffee time is on summer  [ ... ]

June 12, 2024, Police Blotter
12 Jun 2024 11:40

Police Blotter
Sitka police received the following calls by 8 a.m. today:
June 11
At 3:25 a.m. a driver [ ... ]

Other Articles

Daily Sitka Sentinel

Save It or Spend It ­– Sitkans State PFD Plans

By SHANNON HAUGLAND
Sentinel Staff Writer
    Disbursements of Permanent Fund Dividend checks – for $1,600 each – began today for the more than 600,000 eligible Alaska residents.
    And Sitkans had no end of ideas of how to spend the money – or not.
    This year’s payout is up by 45 percent from last year’s $1,100 to each of the state’s 615,590 eligible residents.
    The state used a five-year rolling average to calculate the fund market value, with a 5.25 percent withdrawal that was divided between PFDs and state operations. The dividend was originally expected to be $2,700 this year, but was decreased under a new formula.
    The state issued 70,452 printed checks and 523,012 direct deposits to residents’ bank accounts.
    Sitka Sen. Bert Stedman said the Permament Fund is a great asset for the state, but says fixes to the system are needed.
    “The great thing about the Permanent Fund is, when you have a finite resource – in this case oil – it saves some of the value for future generations,” he said. “The concern I have with the 5.25 payout is it’s too high and the current generation is using too much of the future value of the fund.”
    He has pre-filed legislation for the upcoming session that would lower the drawdown to 4.5 percent, and divide it 50-50 with a minimum of 50 percent going to dividends. That would have increased the payout this year to $2,000.
    He hopes lawmakers will pass his legislation for a more even split between dividends and government costs.
    “The rest will go for schools, DOT, prisons, cops, general state overhead,” Stedman said.
    Putting earnings into the pockets of residents makes sense, he said, because Alaska is the only state in the U.S. that owns the “subsurface.” In other states, the subsurface is privately owned.
    As to how he’ll spend his own dividend, Stedman said, “I’ll give it to my wife; it goes to pay bills, general bills.”
    Most of the Sitkans who spoke to the Sentinel today said they planned to spend their dividends on every day expenses. One lifelong Alaskan said she will divide her dividend check among charities, including Planned Parenthood.

Wendy Alderson, a full-time resident since 1995: “I am saving my Permanent Fund, I’m saving my husband’s Permanent Fund and I’m saving my daughter’s Permanent Fund, for a rainy day. We haven’t had very many lately but I know we’re due for one.”

Lester Hays, a 6-year resident: “Traveling.”

Patrick Swedeen, resident for 40 years: “I’m using it for our kids schooling; we have a couple of kids getting to college age, that’s the plan.”

Charla Bernhardt, a born and raised Sitkan: said she’ll be paying bills, and paying for food.

Kelsey Marks, a born and raised Sitkan: “I’ll probably use it to start up at UAS, taking classes at UAS.”

Robert Truman, raised in Sitka: “Travel ... to Las Vegas, Phoenix or Hood River, Oregon, and to visit family.”

Spencer Severson, resident since 1981: “Expenses. I have hardly any surplus. I’m impressed with people who are donating their PFDs; I always need it.”

Jamie Jackson, resident since 1980: “I’m spending it on my new house – buying the cabinets.

Ellie Schmidt, who hopes to be eligible for her first PFD next year, said she looks forward to spending her first one on the Alaska Airlines PFD sale. “And probably on rent, so I don’t have to work so much.”

Cliff Richter, a resident since 2004: the family’s PFDs go into savings “before it goes anywhere else ... before we make any decisions.”

Bobbi Jordan, resident for 26 years: “I am paying off my credit card for this month.”

You have no rights to post comments

Login Form

 

20 YEARS AGO

June 2004 

Advertisement: Mt. Edgecumbe Hospital Caring Employee of the month! Franklin Thomas Hospital Nutrition Services.

50 YEARS AGO

June 1974

Edna Revard is enjoying a much-deserved vacation: she and youngest son Joe are in Italy visiting her older son, Jack, his wife and child. Jack is with the military, stationed in Italy. Edna will be gone a month, the crew at Revard’s Restaurant says.

Calendar

Local Events

Instagram

Daily Sitka Sentinel on Instagram!

Facebook

Daily Sitka Sentinel on Facebook!