Vermont Fiscal Year 2018 is the fiscal year that began on July 1, 2017, and ended on June 30, 2018. This fiscal year is used to determine the state's budget, revenue, and expenditures for the year. There are two types of Vermont Fiscal Year 2018: General Funds and Education Funds. General Funds are those that are used for the general operations of the state, such as public safety, health and human services, environment and natural resources, and economic development. Education Funds are those that are used for the education of students in the state, such as elementary and secondary education, higher education, and special education.
Vermont Fiscal Year 2018
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Fiscal Year 2018
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Learn more about the budget development process. Balanced Budget: Although Vermont does not have a balanced budget statute, units of government cannot spend in excess of their authorized amounts, nor are they allowed to spend funds they do not have, even if appropriated.
740 appropriates $8.126 billion across all funds, and with $178 million allocated in related bills, state appropriations for Fiscal Year 2023, which begins on July 1, total $8.304 billion. New investments funded through H. 740 and other bills, include: Workforce: $66 million to train, retain and recruit more workers.
Vermont uses an annual budget. The legislature is not required to pass a balanced budget, the governor is not required to sign one, and deficits may be carried over into the following year.
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.
Proposed FY23 Budget ? the Numbers: We recommend a total General Fund budget of $28,473,095.88 with $18,024,429.89 (or 63.3%) to be raised by property taxes. This would result in an estimated FY23 operational tax rate of $0.4438 or an increase of 2.02% from FY22.