Missouri's Budget Reserve Fund
Valentine, David C.
University of Missouri-Columbia. Harry S. Truman School of Public Affairs. Institute of Public Policy
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The value of what has been called a “rainy day fund” was made obvious by several years of minimal revenue growth in the early 1980s. Without a reserve of this kind, the State had no sources of funds to help to cover shortfalls in fiscal years with less than anticipated revenues. In addition, the State did not have a way to meet uncontrollable increases in the cost of services such as Medicaid. The Budget Stabilization Fund and the Cash Operating Reserve Fund were both created in the 1980s to help the State maintain public programs in an era of fiscal stress.
Public Policy publications (MU)
Valentine, D. (2004).Missouri's Budget Reserve Fund. [Report 60-2004] Retrieved 10-01-09, from University of Missouri System, Missouri Legislative Academy Web site: http://www.truman.missouri.edu/ipp/mla/publications/publications.htm