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Code · Vermont · Vermont Statutes

§ 708.

311 words·~1 min read·/vt/708-4

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§ 708. Amendments after adoption
(a)Supplemental appropriations. If during the fiscal year the Manager certifies that there are available for appropriation revenues in excess of those estimated in the budget, the Council by resolution may make supplemental appropriations for the year up to the amount of such excess.
(b)Reduction of appropriations. If at any time during the fiscal year it appears probable to the Manager that the revenues available will be insufficient to meet the amount appropriated, the Manager shall report to the Council without delay, indicating the estimated amount of the deficit and any other steps to be taken. The Council shall then take such further action as it deems necessary to prevent or minimize any deficit, and for that purpose it may by resolution reduce one or more appropriations, or transfer all or any portion of the balance of a capital reserve fund.
(c)Transfer of appropriations. At any time during the fiscal year, the Manager may transfer part or all of any unencumbered appropriation balance among programs within a department, office, or agency and, upon written request by the Manager, the Council may by resolution transfer part or all of any unencumbered appropriation balance from one department, office, or agency to another or set aside all or any portion of an unencumbered appropriation in a capital reserve fund.
(d)Limitations; effective date. No appropriation for debt service may be reduced or transferred, and no appropriation may be reduced below any amount required by law to be appropriated or by more than the amount of the unencumbered balance thereof except as described in this section. The supplemental appropriations and reductions or transfer of appropriation authorized by this section may be made effective immediately upon adoption. (Added 2013, No. M-9, § 3, eff. June 4, 2013; amended 2015, No. M-19 (Adj. Sess.), § 2, eff. May 17, 2016.)
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