rainy day fund

The Ypsilanti City Council created a stabilization, or “rainy day”, fund to help deal with financial emergencies. But it still needs to set the guidelines for the conditions it can be used. The issue is expected to be discussed during today’s Council Finance Committee meeting. WEMU’s Kevin Meerschaert reports.

A downturn in the economy would quickly drain the state’s “rainy day” savings. That’s the determination of an independent analysis.Michigan’s “rainy day”…