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 Despite the state's reopening, Whitaker anticipates that many workers will be slow to return to work and that those who've taking half pay during the pandemic may be dipping into their rainy day funds to pay bills and buy necessities. Alexandria Burris, Indianapolis Star, "'Everyone is hurting': Indiana food bank director says group will soon be out of money," 20 May 2020 Cleveland finances: The administration of Cleveland Mayor Frank Jackson does not intend to tap a $37 million rainy day fund to offset anticipated losses in revenue from economic downturn caused by the coronavirus pandemic, Peter Krouse reports. Cliff Pinckard, cleveland, "Ohio restaurants that break social distancing rules could lose liquor licenses: The Wake Up for Tuesday, May 19, 2020," 19 May 2020 Before the coronavirus outbreak, North Carolina had $1.2 billion in its rainy day fund, according to the state treasurer’s office. Nyamekye Daniel, Washington Examiner, "Budget, revenue shortfall on North Carolina Legislature's agenda," 19 May 2020 Its rainy day fund is down to a mere $818,000 and last year its pension plans for state workers were underfunded in the amount of a record $138 billion. Shruti Singh, Bloomberg.com, "Pritzker Finds Running Most-Troubled U.S. State Only Gets Harder," 18 May 2020 California's financial downturn is cushioned by a $16 billion rainy day fund set aside during the good times. CBS News, "California governor proposes cutting $6.1 billion from state budget as revenue plunges," 14 May 2020 Lawmakers expect more reliable data in June but until then, can count on a rainy day fund brimming with nearly $1 billion to keep the state government operating. Andrew Oxford, azcentral, "Legislature won't yet reconvene, as some lawmakers call for immediate end to stay-at-home order," 30 Apr. 2020 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

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

31 May 2020

Cite this Entry

“Rainy day fund.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/rainy%20day%20fund. Accessed 7 Jun. 2020.

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