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

The budget sets aside reserves of about $30 million — or about 42 percent of its annual expenses — slightly exceeding the city’s policy of saving 40 percent of its budget in a rainy day fund. Deborah Sullivan Brennan, sandiegouniontribune.com, "San Marcos passes $77 million budget, adds a new school resource officer," 14 June 2018 After accounting for certain mandatory spending — including about a half-billion-dollar deposit into the state’s rainy day fund — Baker, a Republican who is up for reelection in November, is proposing $575 million in outlays with the surplus cash. Joshua Miller, BostonGlobe.com, "Governor Baker proposes $72 million for school safety," 13 July 2018 Cassano and others were happy that a huge influx of state income tax collections has filled the state’s coffers this year, pushing the rainy day fund to a record-breaking $1.5 billion. Christopher Keating, courant.com, "Money for Towns and Cities, Aid to Seniors Included In State Budget Deal," 9 May 2018 The state feeds the rainy day fund, created by the Legislature in 2007, by diverting a small amount from the general fund. Hillary Borrud, OregonLive.com, "Oregon lawmakers weigh odds of a recession, as reserves grow," 26 May 2018 Legislators will likely tap into the rainy day fund to close the current projected defict of nearly $382 million in the current fiscal year that ends on June 30. Christopher Keating, courant.com, "Democrats Optimistic Of Budget Vote Before Session Ends," 7 May 2018 New Jersey emptied its rainy day fund in 2009 and has yet to begin refilling it. David Harrison, WSJ, "Many States Are Likely Unprepared for Next Downturn," 8 July 2018 That situation has allowed Texas to fatten its rainy day fund to $11 billion, Whitley says, while forcing local governments to pay a higher share of costs once shouldered by the state. Gordon Dickson And Nicholas Sakelaris, star-telegram, "Priced out of their home? North Texans see tax bill rise $1,200 in five years," 6 July 2018 Under the budget approved by the Legislature, the state will fill its rainy day fund to its constitutional limit of 10 percent of general fund revenue, or $13.8 billion. Melody Gutierrez, San Francisco Chronicle, "California lawmakers OK budget with more money for schools, homelessness," 14 June 2018

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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Dictionary Entries near rainy day fund

rainy

Rainy

rainy day

rainy day fund

Rainy Lake

raioid

raion

Statistics for rainy day fund

Last Updated

2 Nov 2018

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The first known use of rainy day fund was in 1883

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