PEW LOOKS AT MASS. AS MODEL AND CAUTIONARY TALE FOR RAINY DAY FUND MANAGEMENT
By Colin A. Young
STATE HOUSE NEWS SERVICE
STATE HOUSE, BOSTON, MAY 18, 2017.....When it comes to rainy day fund management, the recent experience of Massachusetts was highlighted in a report released Thursday by the Pew Charitable Trusts as an example of how state policymakers' handling of reserves can affect a state's credit rating.
The report begins with a Beacon Hill anecdote from late 2015, right after Standard and Poor's downgraded the state's credit outlook from stable to negative, citing the use of the "rainy day" fund to balance the budget in several prior years.
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