Vermont § 308e - 27/53 Reserve

§ 308e. 27/53 Reserve

• (a)(1) There is hereby created within the General Fund the 27/53 Reserve. The purpose of
  this reserve is to meet the liabilities of the recurring 27th State payroll and the
  53rd week of Medicaid payments. These liabilities will be funded by reserving a prorated
  amount of general funds each year, before the liability comes due. (2) Beginning in September 2016 and annually thereafter at the September Joint Fiscal
  Committee meeting, the Commissioner of Finance and Management shall report on the
  anticipated liability for the next 27th payroll and 53rd week of Medicaid payments,
  providing the current reserve balance and a schedule of annual amounts needed to meet
  the obligation of these payments.