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Searching 2023-2024 Session

The Vermont Statutes Online


Title 24 Appendix : Municipal Charters


Subchapter 107 : FINANCES

(Cite as: 24 App. V.S.A. ch. 107, § 7.05)
  • § 7.5. Lapse of appropriation

    Every appropriation, except for a capital expenditure, shall lapse at the close of the fiscal year following the appropriation to the extent it has not been expended or encumbered. An appropriation for a capital expenditure shall not lapse until its purpose has been accomplished or abandoned, or until three years pass without any substantial disbursement or encumbrance. Duly approved sinking funds are exempt from this provision.