The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
007
:
FINANCES
(Cite as: 24 App. V.S.A. ch. 107, § 7.05)
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§ 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.