Terminology means alot in the General Assembly.

Sen. Luke Kenley wants taxpayers to know that the $1.3 billion dollar state surplus is not all in a Rainy Day Fund.  The suggestion is that some of it is not available to help solve budget problems.  Kenley blames the media, in part, for the perception that it is. 

Here’s the deal:  Some of the money is in a tuition reserve fund and some is in a medicaid reserve fund.  Only about $400 million is actually in a fund labeled “Rainy Day Fund.”  Does it matter? 

Consider this:  there was a time when all of the state surplus went into an account labeled “Rainy Day Fund” and the new reserve accounts were created simply to protect that money.  All of the funds could easily be renamed in a new budget, and made available if lawmakers and the governor so choose.

Plus, if there is a perception problem, it may be due to all those campaign commercials Mitch Daniels aired touting the size of the surplus.  I guess the media did run them.

For his part, the governor today said that he considers all of the money to be part of the surplus and doesn’t think any of it should be spent.