In a sign the state’s finances are recovering from the recession, Governor Deval Patrick announced a plan today to sock away an extra $300 million from last year’s surplus to bolster the Massachusetts rainy day fund.
If lawmakers agree, the fund would have more than $1 billion, giving Massachusetts a larger emergency kitty than all but three other states. It would also be the largest sum in the fund since June 2008.
Before the Great Recession, in June 2007, the emergency fund had hit a high mark of $2.3 billion.
The overall surplus from the recent budget year, which ended June 30, was $460 million.
http://www.boston.com/Boston/politicalintelligence/2011/08/patrick-proposes-rainy-day-fund-deposit/DUyIFNDucjTY4LGKYVVRnN/index.html?camp=misc:on:twit:politics---------
I figured everyone could do with some good news!