Vermont § 3075 - Budget

§ 3075. Budget

• (a) Annually, on or before October 21 or on another date specified in the district’s bylaws,
  the board shall approve and cause to be distributed to the legislative body of each
  district member for review and comment an annual report of its activities, together
  with a financial statement, a proposed district budget for the next fiscal year, and
  a forecast presenting anticipated year-end results. The proposed budget shall include
  reasonably detailed estimates of: (1) deficits and surpluses from prior fiscal years; (2) anticipated expenditures for the administration of the district; (3) anticipated expenditures for the operation and maintenance of any district communications
  plant; (4) payments due on obligations, long-term contracts, leases, and financing agreements; (5) payments due to any sinking funds for the retirement of district obligations; (6) payments due to any capital or financing reserve funds; (7) anticipated revenues from all sources; and (8) such other estimates as the board deems necessary to accomplish its purpose. (b) Coincident with a regular meeting thereof, the board shall hold a public hearing on
  or before November 15 of each year or on another date specified in the district’s
  bylaws to receive comments from the legislative bodies of district members and hear
  all other interested persons regarding the proposed budget. Notice of such hearing
  shall be given to the legislative bodies of district members at least 15 days prior
  to such hearing. The board shall give consideration to all comments received and make
  such changes to the proposed budget as it deems advisable. (c) Annually, on or before December 15 or on another date specified in the district’s
  bylaws, the board shall adopt the budget and appropriate the sums it deems necessary
  to meet its obligations and operate and carry out the district’s functions for the
  next ensuing fiscal year. (d) Actions or resolutions of the board for the annual appropriations of any year shall
  not cease to be operative at the end of the fiscal year for which they were adopted.
  Appropriations made by the board for the various estimates of the budget shall be
  expended only for such estimates, but by majority vote of the board the budget may
  be amended from time to time to transfer funds between or among such estimates. Any
  balance left or unencumbered in any budget estimate, or the amount of any deficit
  at the end of the fiscal year, shall be included in and paid out of the operating
  budget and appropriations in the next fiscal year. All budget amendments shall be
  reported by the district treasurer to the legislative bodies of each district member
  within 14 days following the end of the fiscal year. (e) Financial statements and audit results shall be delivered to the legislative bodies
  of each district member within 10 days following delivery to the board. (Added 2015, No. 41, § 20, eff. June 1, 2015; amended 2015, No. 130 (Adj. Sess.), § 5e, eff. May 25, 2016; 2023, No. 85 (Adj. Sess.), § 441, eff. July 1, 2024; 2023, No. 99 (Adj. Sess.), § 6, eff. May 6, 2024.)