Vermont Fiscal Year 2018 is the financial year in Vermont for the 12 months ending June 30, 2018. It consists of two different types of budgets, the General Fund Budget and the Transportation Fund Budget. The General Fund Budget covers core state services such as health and human services, public safety and corrections, natural resources and environment, education, and general government services. The Transportation Fund Budget is focused on transportation-related projects and initiatives such as road and bridge repair and maintenance, public transit, and airports. Both budgets are funded by a combination of federal, state, and local government revenues.
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.
In the fiscal year of 2021, the state of Vermont had state debt totaling 3.4 billion U.S. dollars.
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.
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.
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.
Maine's fiscal year runs from July 1 to June 30 (in contrast to the federal government and many municipalities) and the fiscal year is referred to by the year in which it ends.