diff --git a/packages/loot-core/src/server/budget/actions.ts b/packages/loot-core/src/server/budget/actions.ts
index 0d9950553d..0f5d68ddad 100644
--- a/packages/loot-core/src/server/budget/actions.ts
+++ b/packages/loot-core/src/server/budget/actions.ts
@@ -34,8 +34,9 @@ export function isReflectBudget(): boolean {
   const budgetType =
     db.firstSync(`SELECT value FROM preferences WHERE id = ?`, [
       'budgetType',
-    ]) ?? 'rollover';
-  return budgetType === 'report';
+    ]);
+  const val = budgetType ? budgetType.value : 'rollover';
+  return val === 'report';
 }
 
 function dbMonth(month: string): number {