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Last updated 6:11AM ET
March 9, 2021
Alabama
Alabama
State Savings Account Tops $3 Billion
(2007-11-30)
(APR - Alabama Public Radio ) - The Alabama state government's major savings account has topped $3 billion for the first time.

At the end of fiscal year 2007 on September 30, the Alabama Trust Fund had $3-point-1 billion. That was up from $2-point-9 billion a year earlier.

The board that oversees the trust fund got the update Thursday. State Finance Director Jim Main says that when the trust fund was put together more than 20 years ago, no one ever thought it would be $3 billion in 2007.

The trust fund receives lease income and royalties from natural gas wells drilled in state-owned waters along the Alabama coast.

(Copyright 2007 by The Associated Press. All Rights Reserved.)
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