A recent opinion piece discusses the use of the Rainy Day Fund. It notes that a significant amount of money was drained from the fund.
The opinion piece expresses concern about the ability of governors to raid the fund to cover shortfalls. Proposition 2 is mentioned as a measure that sounds prudent due to its association with a bigger reserve.
However, it is noted that Prop 2 does not address the rule that allows governors to use the fund in this way, which may be a concern for the future. Further details are available from the source publication.
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