The Vermont Statutes Online
The statutes were updated in November, 2018, and contain all actions of the
2018 legislative session.
Subchapter 011 : INDEBTEDNESS; SINKING FUND; BONDS AND NOTES FOR IMPROVEMENTS(Cite as: 24 App. V.S.A. ch. 5, § 1125)
§ 5-1125. Budget surplus and deficit
Unless otherwise disposed of in the manner provided by law or set in reserve by the City Council, any surplus existing at the end of the fiscal year shall be carried forward as revenue in the General Fund for the next ensuing fiscal year. Any deficit existing at the end of the fiscal year shall be liquidated in the manner provided by law. (Added 2013, No. M-19 (Adj. Sess.), § 2, eff. May 20, 2014; amended 2017, No. M-18 (Adj. Sess.), § 2, eff. May 21, 2018.)