Nevada’s Rainy-Day Fund has reached a new high, topping $1.24 billion, according to Gov. Joe Lombardo and State Treasurer Zach Conine. The fund is now at full capacity after a recent transfer of $12.67 million from the state’s General Fund.
“Being fiscally responsible is key to our state budget, and a fully funded Rainy-Day Fund is crucial for smart state management,” Lombardo said. “This savings cushion means Nevadans can trust we’re ready for any economic bumps in the road.”
Conine added, “Nevada is setting the bar for financial management nationwide by maxing out our Rainy-Day Fund. With solid savings in place, we can keep delivering for Nevadans, even when times get tough.”
The fund’s growth comes from two required transfers from the state’s general fund, as outlined in state law. New legislation from the 82nd Legislative Session now allows the Rainy-Day Fund to reach up to 26% of total state General Fund appropriations.
Source: Nevada State Treasurer
