COMPTROLLER SUSANA MENDOZA SAYS THE STATE’S RAINY-DAY FUND IS GETTING ANOTHER BOOST. 

THE STASH IS VITAL IN TIMES OF EMERGENY AND JUST RECEIVED A DEPOSIT OF 320-MILLION DOLLARS. THAT BRINGS THE LONG-NEGLECTED FUND UP TO MORE THAN 751 MILLION, WHICH IS A BIG IMPROVEMENT SAYS COMPTROLLER MENDOZA.

MENDOZA SAYS ULTIMATELY, SHE WOULD LIKE TO SEE THE RAINY-DAY FUND BE SEVEN AND A HALF PERCENT OF THE STATE’S CURRENT BUDGET. THAT WOULD BE ABOUT THREE AND A QUARTER BILLION DOLLARS.

MENDOZA SAYS THE STATE’S RECENTLY IMPROVED CREDIT RATINGS ARE DUE IN PART TO EFFORTS TO SHORE UP THE RAINY-DAY FUND.