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A surplus account is not the same as a rainy-day account

APRIL 23, 2019 | by Richard Keevey | NJ SPOTLIGHT (NEW JERSEY)

Some folks believe a surplus fund is the same as a rainy-day fund; in fact, many discussions and articles use these terms interchangeably. They are not the same. New Jersey has a rainy-day fund but there is no money in it (in statute it is technically referred to as a surplus-revenue fund).

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