It is apples and oranges like john states, but it is not due to size. I think it's due an ideology to "catch up" to the L48 infrastructures. Virginia has been a state for a lot longer than we have, giving them time to span out their capital investments. For some reason or another, the state continues to make massive appropriations that just don't level out with Alaska's period of state-hood and is effectively living beyond their means. 

The state allows their programs to push bills left and right with no consideration of what funds they actually have. They have yet to figure out HOW  to be sustainable, and i think they shouldn't even consider stealing from the fund until they've solved their spending flaws and reach that sustainability...without oil.