Budget

V.S.A. tit. 24 Appendix, ch. 113, subch. 6

in effect

24 App. V.S.A. ch. 113, § 601 Fiscal year

601. Fiscal year The fiscal year of the Town and Town School District shall begin the first day of July and end on the 30th day of June of the next calendar year. The fiscal year shall constitute the budget and accounting year as used in this charter.

24 App. V.S.A. ch. 113, § 602 Preparation and submission

602. Preparation and submission (a) The Town Manager, at least 75 days before the annual Town meeting or at such previous time as the Town Manager may be directed by the Selectboard, shall submit to the Selectboard a budget containing: (1) an estimate of the financial condition of the Town as of the end of the fiscal year; (2) an itemized statement of appropriations recommended for current expenses, and for capital improvements other than those included in multi-year, voter approved capital plans, voter approved financing agreements, voter approved debt, or impact fees adopted in accordance with 24 V.S.A. chapter 131, during the next fiscal year with comparative statements of appropriations and estimated expenditures for the current fiscal year and actual appropriations and expenditures for the immediate preceding fiscal year; (3) an itemized statement of estimated revenues from all sources, other than taxation, for the next fiscal year and comparative figures of tax and other sources of revenue for the current and immediate preceding fiscal years; (4) for capital to be funded through revenues other than those included in multi-year, voter approved capital plans, voter approved financing agreements, voter approved debt, or impact fees adopted in accordance with 24 V.S.A. chapter 131, a capital budget for the next five fiscal years, showing anticipated capital expenditures, financing, and source of funding. (b) The annual budget should be presented as follows: (1) The Town Manager shall formally present the Town Manager’s budget to the Selectboard at a public meeting and provide such other information as may be requested by the Selectboard. (2) The Selectboard shall have 35 days to review and approve the recommended budget with or without change. (3) Not later than 45 days prior to the annual Town meeting, the Selectboard shall hold at least one public hearing to present and explain its proposed budget. (4) Not less than 15 days prior to the annual Town meeting, the Town Manager shall print and distribute the Selectboard’s recommended budget and the final warning of the pending Town meeting. (5) Not less than 15 days prior to the annual Town meeting, the Town Manager shall also file the proposed capital budget with the Town Clerk and Secretary of the Planning Commission pursuant to 24 V.S.A. § 4443(a). Amended 2015, No. M-1, § 2, eff. Jan. 27, 2015; 2017, No. M-5, § 2, eff. May 17, 2017.

24 App. V.S.A. ch. 113, § 603 Town meeting and budget

603. Town meeting and budget The budget shall be approved or rejected by the legal voters by Australian ballot at the annual Town meeting or a special Town meeting. In the event of rejection of the budget by the legal voters, within 30 days of a vote rejecting the budget, the Selectboard shall set the time and place of the next special Town meeting on the budget. Amended 2015, No. M-1, § 2, eff. Jan. 27, 2015; 2017, No. M-5, § 2, eff. May 17, 2017.

24 App. V.S.A. ch. 113, § 604 Appropriation

604. Appropriation The effective date of the budget shall be July 1 of each year. The budgeted accounts and their corresponding dollar amounts shall be those approved by the legal voters under section 603 of this charter.

24 App. V.S.A. ch. 113, § 605 Amount to be raised by taxation

605. Amount to be raised by taxation Upon passage of the budget by the annual Town meeting, the amounts 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 listers for the corresponding tax year.

24 App. V.S.A. ch. 113, § 606 Departmental budget

606. Departmental budget The budget for a department shall include all proposed expenditures as provided in the overall budget adopted at Town meeting. Town department heads shall not exceed expenditures as approved by voters, or as altered by the Selectboard or Town Manager, as permitted through this charter or as permitted by Vermont law. Amended 2015, No. M-1, § 2, eff. Jan. 27, 2015; 2017, No. M-5, § 2, eff. May 17, 2017.

24 App. V.S.A. ch. 113, § 607 Transfers of appropriation

607. Transfers of appropriation The Town Manager may at any time transfer an unencumbered appropriation balance or portion thereof between general classification of expenditures with an office, agency, or department. The Selectboard shall be notified in writing of all such interdepartmental transfers. The Selectboard may transfer an unencumbered appropriation balance or a portion thereof between departments. All transfers shall be documented and signed, and distributed to the Town Clerk and Treasurer. Account transfers as noted in this section must be managed within the total budget, with its constraint as required by section 304 of this charter. Amended 2015, No. M-1, § 2, eff. Jan. 27, 2015; 2017, No. M-5, § 2, eff. May 17, 2017.

24 App. V.S.A. ch. 113, § 608 Capital budgeting for voter approved funding

608. Capital budgeting for voter approved funding Capital budgets funded through voter approved multi-year capital plans, voter approved agreements, voter approved debt, or impact fees adopted in accordance with 24 V.S.A. chapter 131 shall follow the process for approval outlined in 24 V.S.A. § 4443. Added 2017, No. M-5, § 2, eff. May 17, 2017.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/24APPENDIX/113Fetched: 10/21/2026