Sentences with phrase «of rainy day fund»

She suggest doing so immediately, even if it's at the expense of your rainy day fund.

In a letter to Kevin Lembo, the state comptroller, Barnes noted that the state still remains «significantly short» of a rainy day fund target of 15 percent of the overall state budget.

The New York State Comptroller is out with an audit that shows the city of Troy's finances are in dire straits, thanks to poor budgeting, the overuse of rainy day funds to fund day - to - day operations, and insufficient funding for capital costs.

An audit issued by State Comptroller Thomas DiNapoli finds that unrealistic budgets, insufficient revenues, and the lack of rainy day funds left the Town of Fishkill in fiscal stress.

This account consists of rainy day funds, emergency funds, vacation money and any other savings goals.

Government funding is short duration by nature because of the annual appropriations process, and lack of any restraint — little in the way of rainy day funds — a presumption of prosperity in budgeting.

Not exact matches

Some look at the funds in the bank as rainy day reserves instead of looking for a return on investment from a formal campaign.

Real estate brokers have long tried to woo the bank into listing the building, but Scotia has held on to it as a kind of rainy - day fund.

So, over the course of 180 days, Joe proceeds to raid his rainy day fund to cover his basic living expenses.

For state and local governments, the statutory requirements for balanced budgets meant that fiscal policies turned restrictive relatively quickly once budget surpluses and rainy day funds were exhausted, and this was only temporarily mitigated by federal transfers to the states as part of the initial fiscal stimulus program.

In addition, many governments have «rainy day» funds that they can draw down during periods of budget stringency.

It is a complete guide to saving fund, starting to invest, getting out of a mortgage, saving for a rainy day, paying off your debt and reaching financial prosperity in your life.

«I recommend people prioritize their extra money in this order: pay down credit card debt, save six - to 12 - months worth of income in a rainy day fund, invest in a 401 (k) where your employer matches your contribution, then either pay down your house or look at other retirement contributions,» says Huettner.

You should always put aside about 1 per cent of the home value towards maintenance in a rainy day fund.

with the pieces currently in place («Back on the envelope» calculation — this takes the average proportion of the salary cap devoted to corners and multiplies it by the projected 2018 cap number with no assumption for a rainy day fund).

Gov. Deal has overseen three balanced budgets without raising taxes, saved millions of taxpayer dollars by maintaining Georgia's AAA bond rating, and increased our rainy day fund by more than 500 %.

Aside from that $ 850 million, which represents a use of one - shot money to repay what amounts to a debt, the Legislature should tighten up the allocation language by insisting that any transfer from the infrastructure fund must be repaid, as is already required for the rainy day Ffund must be repaid, as is already required for the rainy day FundFund.

«Years of decreasing, stagnant or slow economic growth have led local governments to cut vital services and tap their rainy day funds to balance budgets, a practice that is not sustainable in the long term,» the comptroller said.

He said he wants the job of comptroller to improve the city's fiscal management and dismissed the notion that the city has enough saved in rainy day funds as well as the positive ratings that the city has been given by outside financial monitors.

«In the case of Rhinebeck, they have little left in what most people would consider to be the rainy day fund,» Butry says.

Benjamin Barnes, secretary of the Office of Policy and Management, warned that the rainy day fund — known as the «budget reserve fund» — will have to be used to pay down the deficit unless the legislature acts to reduce spending.

[10][14] Key parts of his plans are for «governors to identify plans to erase budget deficits in future years,» to cap state debt, and to require excess surplusses to be deposited into the «rainy day fund».

State fiscal analysts said improving tax revenues are helping push Connecticut's rainy day fund to a 10 - year high of $ 1.5 billion, fueled by hedge fund profits and income tax payments by the state's wealthiest residents.

Despite such cuts, Miner's budget spends $ 18 million more than the city will receive in revenues, a gap that will be filled by using up 30 percent of the city's $ 61 million rainy day fund.

Lead sponsor of the Property Tax Stabilization Fund to serve as a dedicated rainy day fund to hold the line on property tax increaFund to serve as a dedicated rainy day fund to hold the line on property tax increafund to hold the line on property tax increases.

Much of Connecticut's rainy day fund depends of a volatile source — the sometimes higher than expected revenues generated by corporations and the state's wealthiest residents, who make money on Wall Street, and file quarterly returns, Lembo said.

Mr. Cope has been a good steward of Sherman, managing its municipal budget well and rebuilding the town's rainy day fund.

Governor Jerry Brown delivered his annual State of the State address on Wednesday morning, in which he highlighted California's comeback and said he'll push the legislature to adopt his plan for a rainy day fund.

But the school boards association also notes that 99 percent of the districts had to tap into their reserve funds, rainy day funds, in order to cover budget gaps.

Comptroller Thomas DiNapoli released a report Monday showing the fiscal year - end general fund balance of $ 2.2 billion was $ 432 million more than projected in February and the state put money in a «rainy day fund» for the first time since 2008.

Gov. Andrew Cuomo's administration pointed out that it has already adopted some of the suggestions, including building up the rainy - day fund and trimming pensions with a less - generous pension plan — known as Tier VI — for public employees.

In a report issued today focusing on the recession's impact on the budgets of New York and New Jersey, the Fed branch also recommended the states create «rainy day» funds to protect against future revenue gaps, plan in advance for spending cuts and reduce reliance on personal income taxes, which are affected by changes in the economy.

«Many of our members were concerned that taking from the rainy day fund this early in the fiscal year would not be sound fiscal practice and would send a poor message to bond - rating services and other fiscal analysts,» Looney said.

That is why my colleagues and I in the County Legislature voted to appropriate an additional $ 5 million of the county's fund balance, our rainy day account, to help repair the county road system because it was not just raining; it was pouring.

In addition, the Governor is proposing the use of over $ 1 billion of its most flexible rainy day funds in each of the two succeeding fiscal years.

«We're one of the few cities in the country with a fully funded pension» with a healthy rainy day fund and a AAA bond rating, she says.

Local governments have struggled in the wake of the recession with depleted rainy day funds and a cap on property tax increases, while state aid hasn't increased.

Republicans intend to use the rainy day fund to eventually close the current year's deficit of $ 381.8 million, rather than trying to enact spending cuts in the final two months of the fiscal year.

To avoid the mistakes of the past we must spend with great prudence and we must establish a solid rainy day fund, locked into the Constitution.

The rainy - day fund, which is designed for fiscal emergencies, suddenly grew to about $ 875 million under the expiration of a federal law that prompted major hedge funds in Fairfield County to pour tax money into state coffers before the end of 2017.

If lawmakers take no action to close the projected deficit of nearly $ 200 million in the current fiscal year, then the state's rainy - day fund could be used to close the gap.

«I am concerned that we are beginning to see warning signs of a slowing economy,» he said, emphasizing as he has done for years that the city needs to set aside more rainy day funds.

She says the existing rainy day fund of around $ 2 billion is not enough.

Speaking at the last public hearing before the City Council and City Hall finalize next year's budget by the June 30 deadline, Mulgrew said the UFT has repeatedly brought ideas to the table on how to close the city's projected budget gap without teacher layoffs, such as cutting back on outside contractors at the Department of Education or using a portion of the city's rainy - day fund.

Under law, unrestricted reserves, known as «rainy day funds,» are restricted to 4 percent of a district's budget.

«We just don't have much time left to fix the problem,» the mayor said, warning that the 2014 budget is especially worrisome, with an expected gap of $ 3 billion between projected expenses and revenues, and no rainy - day fund left to pay the bills.

Albany has been engaged in deficit spending since at least 2007, the mayor said, and has extinguished its formerly healthy rainy - day fund in order to deal with increased pension costs and other consequences of the 2008 Wall Street meltdown.

A debate is unfolding about use of the so - called rainy day fund to plug part of the hole — as a way of restoring some of the social service cuts.

He said that as of last Thursday, state officials were estimating about $ 1.5 billion had already been set aside for the state's rainy day fund.

The delay of $ 750 million will be combined with short - term borrowing of $ 250 million from a series of other state accounts — including the so - called «rainy - day fund,» a step that critics have previously said Paterson should take to avert budget cuts.