Monday Map: Rainy Day Fund Balance as a Percent of Annual General Fund Spending (Fiscal Year 2007)

In this week’s Monday Map, we take a look at the size of each state’s rainy day fund balance prior to the beginning of the recessionA recession is a significant and sustained decline in the economy. Typically, a recession lasts longer than six months, but recovery from a recession can take a few years. in 2007. The map illustrates a state’s rainy day fund balance as a percent of its annual general fund spending. Oregon, Montana, Colorado, Kansas, and Arkansas were the least prepared for economic hardships with rainy day funds equal to 0% of their general fund spending. Not far behind were Michigan (0.02%), Wisconsin (0.43%) and Illinois (0.97%). Certain states, however, were much better prepared. Alaska’s rainy day fund was by far the most secure; prior to the recession, it was equal to 49.89% of the state’s general fund spending. Next best prepared were North Dakota (17.79%), Nebraska (16.13%), and West Virgiia (13.59%).