The Facts
  • The rainy day fund is expected to grow to $7.3 billion by the end of fiscal 2013.
  • If the fund reaches $7.3 billion as projected, the ending balance would be the 2nd highest in the history of the ESF.
  • Using one-time monies to pay for ongoing expenses is poor public policy.


  • The ESF should only be spent on one-time emergency items or tax relief. The fund should not be spent to support ongoing expenses.
  • At a minimum, even in the face of one-time emergencies, lawmakers should preserve an ESF balance equal to 5% of the general revenue and general revenue dedicated funds in the 2012-13 budget. This figure amounts to approximately $4.4 billion.