I recently read a news report about the Monroe School District’s budget for the coming year. It seems they used some of their emergency fund last year and will use more this year, but hope to start replenishing it the following year. I also read that the city of Everett has done something similar, and I believe the state has as well.
I have a rainy day fund and would caution any families that do not have one, that they are at great risk. Start it with one dollar if you must, and add to it as you can. You will never be sorry.
As for Monroe, Everett and the state, I do not believe any government organization should have one. Let us think about this for a minute. If every school district in the state and every fire department, every police department, every city, in fact every department of the state, county and city in the whole state, had a rainy day fund, I could not even guess what the total amount might add up to. All this money all belongs to the people, but the people will not have any say in how, when or for what it may be spent.
Suppose it is never spent. That’s a lot of money to just let lay forever.
I would bet that most of the money spent from these funds is for things that would not pass, if voted on.
All of these need to come to the people for a vote, if they need more money. In fact, they have money but have chosen to spend it elsewhere.