Government funds in place for rainy – and snowy – days

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  • Rick Smith

    “There is no magic to the term ‘rainy day’ funds,” said Carmel Mayor Jim Brainard. “It could be in a ‘rainy day’ fund or an operating balance in another fund. The key is just to have several months operating cash put back, and we most certainly do.”

    Not to say I don’t believe you but I’m skeptical.

    Mayor Brainard on October 22, 2012 you tried to spend the rainy day fund to meet short term needs (street paving?). You even suggested it be written down that the fund would be replenished in 2015. Ironic that would be another election year so I’m sure there would be the obligatory self congratulations on your plan and how it once again saved us from certain ruin. Lets spend the Rainy Day Fund Now! Short Version 45 seconds Same video-Long Version 4:37 * Best version-get the big picture.

    Mayor your plan was to start adding $1million/year in 2015 to the Rainy Day Fund. That would mean, as I read the above chart, that we would now have ZERO Reserves?

    I would like to be wrong. So please someone correct me if I’m missing something.