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.
(Cite as: 24 App. V.S.A. ch. 801, § 7)
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§ 7. Annual budget and assessments
(a) On or before February 15 in each year, the Board of Commissioners shall prepare a
budget for the Authority for the next fiscal year, which shall include an estimate
of the revenue of the Authority from fares and other sources, except membership assessments,
and the expenses for the next fiscal year, including debt service, and at such time
the Board of Commissioners shall call a meeting of the residents of its members for
the purpose of presenting the proposed budget and inviting discussion thereon. The
meeting shall be held at a place within the County and shall be warned by a notice
published in a newspaper of general circulation in the County at least 15 days prior
to the meeting. The notice shall contain a copy of the proposed budget, and members
of the legislative body of each member municipality shall be notified of the meeting
by certified mail.
(b) Annually, following the meeting provided in subsection (a) of this section, the Board
of Commissioners shall review the proposed budget of the Authority in light of any
discussion thereon at the meeting and shall then adopt the budget with or without
changes.
(c) The Treasurer of the Authority, following adoption of the budget, shall apportion
the sums required to be contributed by each member municipality according to the formula
for apportionment. The formula for apportionment may be changed by the Board of Commissioners
with the concurrence of the legislative bodies of at least three-quarters of the member
municipalities.
(d) The Treasurer of the Authority shall immediately notify the treasurer of each member
municipality and the chair of the legislative body in each member municipality of
the amount of such assessment, and the member municipality shall add such assessment
to its own budget and shall assess such tax as is necessary to raise the amount of
the assessment. The amount of the assessment in each member municipality shall be
paid to the Treasurer of the Authority on or before July 15 in each year.
(e) In the event that the budget of the Authority in any year becomes insufficient to
support the operations of the Authority, the Board of Commissioners may assess the
member municipalities for additional sums, apportioned in the manner provided in this
section, but such additional assessment shall require the approval of all the legislative
bodies in the member municipalities. (Added 1973, No. 122, § 7, eff. Feb. 2, 1973; amended 2009, No. 71 (Adj. Sess.), § 2, eff. July 1, 2011.)