Accounting

V.S.A. tit. 32, ch. 7, subch. 1

in effect

32 V.S.A. § 401 Accounts

401. Accounts (a) The Commissioner of Finance and Management shall keep fair and accurate accounts of monies received and disbursed so as to show the proceeds of the several branches of revenue and the expenses of each department of the government. (b) The Treasurer shall keep an accurate account in books of account of all monies received by the State from whatever source and of all monies withdrawn from the Treasury of the State upon warrants issued by the Commissioner of Finance and Management. (c) In recording revenues of the General Fund as set forth in section 435 of this title and revenues of the Transportation Fund as set forth in 19 V.S.A. § 11, the Commissioner of Finance and Management shall as of June 30 each year maintain accounting records in accordance with Generally Accepted Accounting Principles that ensure consistency with each preceding fiscal year. Amended 1959, No. 328 (Adj. Sess.), § 18; 1979, No. 74, § 328, eff. May 8, 1979; 1981, No. 87, § 4; 1983, No. 195 (Adj. Sess.), § 5; 1987, No. 243 (Adj. Sess.), §§ 59, 60, eff. June 13, 1988; 2015, No. 97 (Adj. Sess.), § 65.

32 V.S.A. § 402 Receipts

402. Receipts The Treasurer and Commissioner of Finance and Management shall give a receipt to persons for money paid, stating for what purpose it is paid, and shall immediately enter the payment upon their books under its appropriate head. Amended 1967, No. 154, § 1.

32 V.S.A. § 403 Repealed. 1959, No. 328 (Adj. Sess.), § 35(g).

32 V.S.A. § 404 Returned payments; penalty

404. Returned payments; penalty (a) Agencies and departments of State government may assess a penalty of $20.00 against the issuer for each payment for amounts due in the form of a check, draft, electronic payment, or other acceptable forms of payment that have been dishonored for lack of funds or credit to pay the same. (b) Such penalty collected shall be credited to a special fund established and managed pursuant to chapter 7, subchapter 5 of this title, or to another budgeted fund other than the General Fund, and shall be available to the agency or department to offset the costs of collecting the amount owed. Added 1983, No. 59, § 12, eff. April 22, 1983; amended 1989, No. 222 (Adj. Sess.), § 1, eff. May 31, 1990; 1991, No. 234 (Adj. Sess.), § 2; 1993, No. 27, § 5; 1997, No. 59, § 21, eff. June 30, 1997; 2013, No. 191 (Adj. Sess.), § 1; 2017, No. 74, § 133.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/32/007Fetched: 10/21/2026