The Vermont Statutes Online
The statutes were updated in November, 2018, and contain all actions of the
2018 legislative session.
Subchapter 010 : BUDGETS AND TAXATION(Cite as: 24 App. V.S.A. ch. 129, § 1003)
§ 129-1003. Preparation and submission of the capital budget
(a) At least 120 days before the date of the regular annual Town and school meeting, each department or commission head shall submit to the Town Manager in the case of the Town and the Superintendent of the Schools in the case of the school a proposed budget for their review and revision.
(b) The Town Manager in the case of the Town and the Superintendent in the case of the school, at least 60 days before the date of the regular annual meeting, shall submit to the Selectboard or school trustees a budget which, except as required by law or this charter shall be in such form as the Manager or Superintendent deems desirable and the Selectboard or school trustees may require. The capital budget shall contain:
(1) Appropriations and expenditures. An itemized statement of appropriations recommended for capital improvements during the fiscal year with comparative statements in parallel columns of appropriations and estimated expenditures for the current fiscal year and the actual appropriation and expenditures for the immediate preceding fiscal year.
(2) Revenue. An itemized statement of estimated revenues from all sources including taxes for funding the capital budget.
(3) Other. Such other information as may be required by the Board of Selectmen or school trustees.
(c) Capital plan.
(1) A capital plan shall be implemented for the collection of impact fees. This plan shall be implemented by the creation of a Town ordinance adopted by the Selectboard.
(A) The capital plan shall show anticipated capital expenditures, financing, and tax requirements for the next five fiscal years.
(B) In the event a capital plan is implemented and impact fees are collected, the most current fiscal year of the capital plan shall become the capital budget to be submitted to the voters.
(C) In the event a capital plan is implemented and impact fees are collected, subsections 903(a) and (b) of this charter shall be followed to create year five of the capital plan.