Healey was credited with creating a package of legislative proposals, called the Municipal Relief Act, that reduced expensive and burdensome state mandates, easing the pain of cuts to state aid by about $75 million. The administration closed the budget gap, and ended fiscal year 2004 with a budget surplus of $700 million. Official state figures showed that Massachusetts ended fiscal year 2005 with a $594.4 million surplus. In 2006, the surplus was officially $720.9 million according to state statistics. Additionally, the administration left the state with a "rainy day" stabilization fund with a balance of $2.1 billion.