In his State of State address Monday, Arizona Gov. Ducey said despite a sunny economic outlook, the state won’t, in his words, “let the good times roll.” Instead, Ducey says he plans on significantly boosting the state’s rainy day fund.

“Because I’m proposing that we secure Arizona’s future and prepare responsibly for the unexpected and the inevitable — by bringing our rainy day fund to a record-breaking balance of $1 billion," he said.

Steve Bailey is an associate manager at the Pew Charitable Trusts, and he was in Arizona on Tuesday to testify to the state legislature on exactly this issue. He planned to lay out a best practice approach on how to use and conserve rainy day funds for years to come.

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