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The Vermont Statutes Online

Title 24 Appendix : Municipal Charters

Chapter 113 : TOWN OF COLCHESTER

Subchapter 006 : BUDGET

(Cite as: 24 App. V.S.A. ch. 113, § 602)
  • § 113-602. 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, 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 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. (Amended 2015, No. M-1, § 2, eff. Jan. 27, 2015.)