Budget Process

V.S.A. tit. 24 Appendix, ch. 4, subch. 9

in effect

24 App. V.S.A. ch. 4, § 901 Fiscal year

901. Fiscal year The fiscal year of the City shall begin on 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. Added 2021, No. M-10 (Adj. Sess.), § 2, eff. July 1, 2022.

24 App. V.S.A. ch. 4, § 902 Annual municipal budget

902. Annual municipal budget With support from the finance department, the Manager shall submit to the Council a budget for review before the annual City Meeting or at such previous time as may be directed by the Council. The budget shall contain: (1) an estimate of the financial condition of the City as of the end of the fiscal year; (2) an itemized statement of appropriations recommended for current expenses, and for capital improvements, 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) a capital budget for not fewer than the next five fiscal years, showing anticipated capital expenditures, financing, and tax requirements; and (5) such other information as may be required by the Council. Added 2021, No. M-10 (Adj. Sess.), § 2, eff. July 1, 2022.

24 App. V.S.A. ch. 4, § 903 Governing body’s action on budget

903. Governing body’s action on budget The Council shall review and approve the recommended budget with or without change. The budget shall be published not later than two weeks after its preliminary adoption by the Council. The Council shall fix the time and place for holding a public hearing for the budget and shall give public notice of the hearing. Added 2021, No. M-10 (Adj. Sess.), § 2, eff. July 1, 2022.

24 App. V.S.A. ch. 4, § 904 Budget meeting; warning

904. Budget meeting; warning (a) The Council shall hold at least one public hearing at least 30 days prior to the annual meeting to present and explain its proposed budget and shall give a public notice of such hearing. (b) The Manager shall, not less than 30 days prior to the annual meeting, make available the Council’s recommended budget and the final warning of the pending annual meeting. (c) The annual City report shall be made available to the legal voters of the City not later than 10 days prior to the annual meeting. Added 2021, No. M-10 (Adj. Sess.), § 2, eff. July 1, 2022.

24 App. V.S.A. ch. 4, § 905 Appropriation and transfers

905. Appropriation and transfers (a) An annual budget shall be adopted at the City Meeting by the vote of a majority of eligible voters by Australian ballot in accordance with section 401 of this charter. If, after the total budget has been appropriated, the Council finds additional appropriations necessary, the appropriations shall be made and reported at the next City Meeting as a specific item. The appropriations shall only be made in special circumstances or situations of an emergency nature. No specific explanation need be given for any normal annual operating expense in any office, department, or agency that may be increased over the budget amount by an amount not more than 10 percent of the office’s, department’s, or agency’s budget. (b) From the effective date of the budget, the amounts stated therein, as approved by the voters, become appropriated to the several agencies and purposes therein named. (c) 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, the Council may, by resolution, transfer any unencumbered appropriation balance or portion thereof within the Council budget from one department, office, or agency to another. (d) Notwithstanding the above, no unexpended balance in any appropriation not included in the Council budget shall be transferred or used for any other purpose. Added 2021, No. M-10 (Adj. Sess.), § 2, eff. July 1, 2022.

24 App. V.S.A. ch. 4, § 906 Amount to be raised by taxation

906. Amount to be raised by taxation Upon passage of the budget by the voters, the amounts stated therein as the amount to be raised by taxes shall constitute a determination of the amount of the levy for the purposes of the City in the corresponding tax year, and the Council shall levy such taxes on the grand list as prepared by the assessor for the corresponding tax year. Added 2021, No. M-10 (Adj. Sess.), § 2, eff. July 1, 2022.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/24APPENDIX/004Fetched: 10/21/2026