Budget

V.S.A. tit. 24 Appendix, ch. 147, subch. 11

in effect

24 App. V.S.A. ch. 147, § 11.1 Fiscal year

11.1. Fiscal year The fiscal year of the Town shall begin the first day of July and end on the last day of June of each calendar year. The fiscal year shall constitute the budget and accounting year as used in this charter. Amended 2011, No. M-7, § 2, eff. May 17, 2011.

24 App. V.S.A. ch. 147, § 11.2 Preparation and submission

11.2. Preparation and submission (a) The Town Manager, at least 45 days before the date of the regular annual Town meeting, shall submit to the Selectboard a budget in such form required by them. (b) The budget shall be published not later than four weeks after its submission to the Selectboard. Said budget as published shall also include an itemized statement of revenues and expenditures for the preceding fiscal year. The Selectboard shall fix the time and place for holding a public hearing for the budget and shall give a public notice of such hearing in a newspaper having general circulation in the Town at least five days but not more than 15 days before such hearing. Said notice shall include a designation of the place or places within the Town where copies of the budget are available for distribution. In the manner provided in this subsection, the directors of the Shelburne School District shall likewise submit their budget for the next fiscal year to the public hearing provided for in this subsection. Amended 2011, No. M-7, § 2, eff. May 17, 2011.

24 App. V.S.A. ch. 147, § 11.3 Town meeting warning and budget

11.3. Town meeting warning and budget The budget and warning for the annual Town meeting shall be distributed to the legal voters of the Town at least 10 days before the annual meeting. Distribution shall be accomplished by posting the Town report on the Town of Shelburne website and making copies available at the Town Clerk’s office. There shall be included in such distribution the Selectboard’s best estimate of the tax rate for the next fiscal year based upon an estimate of the grand list furnished by the Assessor to the Selectboard. Amended 2011, No. M-7, § 2, eff. May 17, 2011.

24 App. V.S.A. ch. 147, § 11.4 Appropriations

11.4. Appropriations From the effective date of the budget, the several amounts therein stated, as approved in accordance with section 11.8 of this charter, become appropriated to the several departments, agencies, entities, and purposes therein named. Amended 2011, No. M-7, § 2, eff. May 17, 2011.

24 App. V.S.A. ch. 147, § 11.5 Amount to be raised by taxation

11.5. Amount to be raised by taxation Upon passage of the Town budget in accordance with section 11.8 of this charter, the amount stated therein as the amount to be raised by property taxes shall constitute a determination of the amount of the levy for the purposes of the Town in the corresponding tax year and the Selectboard shall levy such taxes on the grand list furnished by the Assessing Department for the corresponding tax year. Amended 2011, No. M-7, § 2, eff. May 17, 2011.

24 App. V.S.A. ch. 147, § 11.6 Department budget

11.6. Department budget The budget for all departments shall include all proposed expenditures and the budget approved in accordance with section 11.8 of this charter shall include a gross appropriation for each department for the ensuing fiscal year. The gross appropriation for each department shall not be exceeded except by consent of the Selectboard, subject to the provisions of section 11.8 of this charter. Amended 2011, No. M-7, § 2, eff. May 17, 2011.

24 App. V.S.A. ch. 147, § 11.7 Transfers of appropriations

11.7. Transfers of appropriations The Manager may at any time transfer an unencumbered appropriation balance or portion thereof between general classifications of expenditures within an office, department, or agency. At the request of the Manager and within the last three months of the budget year, the Selectboard may by resolution transfer any unencumbered appropriation balance or portion thereof within the Selectboard’s budget from one department, agency, or office to another. Notwithstanding the above, no unexpended balance in any appropriation not included in the Selectboard’s budget shall be transferred or used for any other purpose. Amended 2011, No. M-7, § 2, eff. May 17, 2011.

24 App. V.S.A. ch. 147, § 11.7a General Fund unrestricted fund balance

11.7a. General Fund unrestricted fund balance At the sole discretion of the Selectboard, a General Fund unrestricted reserve may be established in an amount that may not exceed five percent of the General Fund budget being considered by the Selectboard for presentation to the voters at Town meeting. The purpose of the fund shall be to aid in the cash flow and operation of the Town and to be used for such purpose as may be caused by an emergency. For expenditures other than an emergency, if in any year a portion of the unrestricted fund balance is applied as revenue to the General Fund or in a year that the reserve fund exceeds five percent of the current operating budget, funds must be applied to fund items found in the Town’s capital improvement plan. Added 2011, No. M-7, § 2, eff. May 17, 2011.

24 App. V.S.A. ch. 147, § 11.8 Adoption of budget

11.8. Adoption of budget (a) An annual budget shall become effective after adoption by a majority vote of the Town’s legal voters present and voting by Australian ballot at the annual Town meeting. If the voters disapprove the proposed budget at the annual Town meeting, the Selectboard shall proceed to warn a special Town meeting to be held within 60 days of the annual meeting, for the purposes of considering the disapproved budget. An informational meeting regarding the proposed budget shall be held the evening preceding the vote regarding the budget. The vote shall conform to the procedure in use for votes by Australian ballot at the regular Town meeting. (b) After the annual budget has been adopted, the Selectboard shall not make any single appropriation not set forth in the budget that totals in excess of two percent of the annual operating budget. Any such appropriation made by the Selectboard shall only be done if they deem an emergency situation requires such appropriation. Such emergency appropriations shall be reported to the next annual Town meeting. Any single appropriation in excess of said two percent shall require prior approval by vote by Australian ballot at a duly warned Town meeting. The issuance of bonds or notes, except notes for one year or less or in anticipation of revenue or grants and aid to be paid within the fiscal year in which issued, shall be authorized by Australian ballot at the annual or a special Town meeting. Any article in the warning providing for appropriation of funds in addition to the Selectboard’s budget shall be voted on by Australian ballot. Amended 2011, No. M-7, § 2, eff. May 17, 2011.

24 App. V.S.A. ch. 147, § 11.9 Balloting at Town meetings

11.9. Balloting at Town meetings The Selectboard, at its discretion, shall determine which articles to be submitted to the voters at any annual or special Town meeting shall be voted on by Australian ballot, unless other provisions of this charter or the laws of this State require Australian balloting for a particular issue. Amended 2011, No. M-7, § 2, eff. May 17, 2011.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/24APPENDIX/147Fetched: 10/21/2026