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

COMPTROLLER MENDOZA IS TRANSFERRING 150 MILLION DOLLARS INTO THE FUND, BRINGING IT TO A RECORD HIGH OF ONE POINT SEVEN-THREE BILLION. SHE SAYS JUST LIKE FAMILIES SHOULD SET ASIDE MONEY IN CASE OF AN EMERGENCY THE STATE GOVERNMENT SHOULD BE DOING THE SAME.

AT ONE POINT IN 2018, THE RAINY-DAY FUND HAD ONLY ABOUT 48 THOUSAND DOLLARS. MENDOZA IS PUSHING THE LEGISLATURE TO AUTHORIZE AUTOMATIC DEPOSITS IN ORDER TO KEEP BUILDING UP THE RESERVE.

MENDOZA SAYS THE RAINY DAY FUND IS VITAL TO HELPING THE STATE GET THROUGH TOUGH TIMES LIKE A SEVERE ECONOMIC DOWNTURN OR PANDEMIC.