Constitutional Budget Reserve
The Constitutional Budget Reserve Fund (CBRF) was established November 6, 1990 when voters approved adding Section 17 to Article IX of the Constitution of the State. All money received by the State after July 1, 1990, through resolution of disputes about the amount of certain mineral-related income, must be deposited in the CBRF. The Legislature may, under certain conditions, appropriate funds from the CBRF to fund the operations of state government. The Twenty-First Legislature created a subaccount within the CBRF (Subaccount) effective July 1, 2000 which was liquidated on April 1, 2015 with the balance being transferred to the Main Fund.
Related Reports and Charts
GeFONSI, CBR and SBR Charts Includes historical asset balances, current year earnings and asset allocations
Annual Investment Reports Includes annual report on Constitutional Budget Reserve
CBRF Market Value:
$2.89B on 06/30/2025
CBR Main Fund Target Asset Allocation
As of 7/1/2024
Performance Results & Market Values
ANNUAL CBRF - MAIN PERFORMANCE
| Fiscal Year | Market Value | Return % |
| 2024 | $2,739,948,819 | 5.71% |
| 2023 | $2,619,931,069 | 4.01% |
| 2022 | $914,499,659 | 0.12% |
| 2021 | $1,076,066,827 | 0.19% |
| 2020 | $1,983,225,766 | 3.13% |
| 2019 | $1,831,528,130 | 4.32% |
| 2018 | $2,360,130,336 | 1.47% |
| 2017 | $3,895,949,155 | 1.83% |
| 2016 | $7,331,403,856 | 1.75% |
| 2015 | $10,101,380,473 | 0.84% |
| 2014 | $6,057,834,291 | 1.45% |
| 2013 | $5,764,021,059 | 0.18% |
| 2012 | $5,451,989,304 | 3.22% |
| 2011 | $5,164,044,306 | 2.64% |
ANNUAL SUBACCOUNT PERFORMANCE
| Fiscal Year | Market Value | Return % |
| 2015 | - | 2.41% |
| 2014 | $6,721,892,952 | 15.88% |
| 2013 | $5,800,361,219 | 11.75% |
| 2012 | $5,190,408,296 | 0.48% |
| 2011 | $5,165,981,026 | 21.13% |