rainy day fund

noun

Definition of rainy day fund

US
: a fund of money set aside especially by a government to be used during a time of revenue shortfalls or budget deficits

Examples of rainy day fund in a Sentence

Recent Examples on the Web Harris County contributed the $10 million from its $300 million rainy day fund, which usually is reserved for hurricanes and economic downturns. Zach Despart, Houston Chronicle, "Harris County offered $10M in loans to small businesses hurt by pandemic. Requests topped $152M.," 14 Apr. 2020 Gariño said the city has limited resources and is unable to tap into its rainy day funds to deal with the situation. Rafael Carranza, azcentral, "Arizona border cities brace for economic hit from travel restrictions," 20 Mar. 2020 Another advantage: Oregon’s decade-long economic expansion enabled state government to build a robust rainy day fund that’s now approaching $3 billion, or 14% of the state’s general fund spending. oregonlive, "Oregon girds against a coronavirus recession," 13 Mar. 2020 The state’s rainy day fund has about $2.8 billion in it, or enough to run state government for a month without additional revenue. James Salzer, ajc, "Kemp asks Georgia lawmakers to include $100 million in budget to deal with coronavirus," 11 Mar. 2020 At the end of 2019 the city had a $19.5 million reserve – rainy day fund – about 59 percent of its $33 million general fund revenue that year, Timmer said. Sue Kiesewetter, Cincinnati.com, "Here's how the novel coronavirus pandemic could affect Fairfield's income tax revenue," 16 Apr. 2020 Last fall, Hegar expected the rainy day fund would wind up having $9.35 billion in late August 2021, the end of the current budget cycle. Robert T. Garrett, Dallas News, "Texas reeling into recession from double blows of coronavirus, oil slump, Comptroller Glenn Hegar says," 1 Apr. 2020 Policymakers can fall back on a rainy day fund flush with about $1 billion. Andrew Oxford, azcentral, "Questions hang over the budget, major bills as Arizona Legislature makes quick exit," 24 Mar. 2020 In Washington state, which has seen the greatest number of U.S. coronavirus deaths, lawmakers this past week approved a budget that draws $200 million from the state's rainy day fund. oregonlive, "Coronavirus strains state budgets, some may dip into reserves," 15 Mar. 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'rainy day fund.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of rainy day fund

1883, in the meaning defined above

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Time Traveler for rainy day fund

Time Traveler

The first known use of rainy day fund was in 1883

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Statistics for rainy day fund

Last Updated

17 May 2020

Cite this Entry

“Rainy day fund.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/rainy%20day%20fund. Accessed 26 May. 2020.

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