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Wednesday, November 10, 2021

VLCT receives lots of questions about financial topics. We have identified some commonly requested finance resources below: This is not an exhaustive list.

  • IRS federal tax regulations and guidance for local governments:Click here for IRS tax information for local governments.
  • Find a CPA to assist with auditing or other governmental financial services:Click here to use the Vermont Society of Certified Public Accountants [VTCPA] searchable CPA database.
  • National governmental accounting standards resources and guidance (GASB & GAAP):
    • Government Accountability Standards Board (GASB) has established generally accepted accounting principles (GAAP) for local governments. It is an independent organization that establishes and improves standards of accounting and financial reporting for U.S. state and local governments. GASB is generally recognized by governments, the accounting industry, and capital markets as the official source of GAAPs.
  • Capital improvement planning and budgeting information: See the Vermont Land Use Planning Implementation Manual published by the Vermont Land Use Education and Training Collaborative on the VPIC website.
  • Government Finance Officer Associations
    • Government Finance Officers Association (GFOA)– is a statutory nonprofit formed with the purpose of promoting “efficient financial management systems by government organizations within Vermont”.
    • VTGFOA is a subsidiary membership organization that provides technical and educational support for municipal finance officers and their organizations in Vermont. GFOA provides guidance for the development of debt management policies and/or municipal investment policies, in the publication: Financial Policies: Design and Implementation, published by GFOA.