RAINY DAY: Iowa’s Fund In Nation’s Top Ten
The state’s rainy day fund ranks among the top ten in the nation.
The Tax Foundation says Iowa’s fund of more than $600 million ranks eighth among all states. The foundation, which is a non-partisan organization that provides research and analysis on federal and state tax policy, says Iowa’s rainy day fund is equivalent to 9.93 percent of the state’s annual general fund spending for the fiscal year 2013.
Alaska topped the list with a fund equivalent to 211.16 percent of its 2013 fiscal year general fund spending.
The report shows that most states are doing better at setting aside money to use if regular state revenues are reduced or during emergencies, such as natural disasters.
You can see the rankings for all states here.