State Budget FAQ

 

Who puts the budget together?
Preparation of the Governor's annual budget for the State of Vermont is the responsibility of the Commissioner of Finance and Management. The Commissioner works closely with his or her staff in the Budget and Management Division and agency and departmental budget staff.
 
What is the budget cycle time line?
The development and implementation of the budget is an on-going cycle.
June: The current fiscal year closes and extensive review of financial data commences
September: The Department of Finance and Management communicates assumptions about revenue, expenses and allocations.
January: The Governor presents the budget proposal to the Legislature.
July: Assuming that the Appropriates Bill has been approved by the Legislature and the Governor has signed the Bill into law, the new fiscal year begins.
See State Budget Overview for more details.
 
What is the State’s fiscal year?
The State of Vermont’s fiscal year begins on July 1st and ends on June 30th of the following year. The Comprehensive Annual Financial Report is published in December following the close of the fiscal year.
 
What is the size of the State’s budget?
For fiscal year 2007, the State’s revenues exceeded $4 billion. More information can be found in Vermont's Comprehensive Annual Financial Report.
 
What is the General Fund?
The State of Vermont uses fund accounting to account for its ongoing operations and to demonstrate compliance with finance-related legal requirements imposed by both legislative mandates as well as externally imposed restrictions. The General Fund is the chief operating fund of the State. It is used to finance and account for all expenditures for which no special revenues has been provided by law. There are many other funds in addition to the General Fund. Some of these are the Education Fund, Transportation Fund and the Global Commitment Fund.
 
What if I want to make a recommendation regarding the budget?
Contact your State Representative or Senator, a listing can be found at the Vermont.gov directories. Otherwise you may submit your ideas to the Department of Finance and Management.