Under Vermont law, by default, the municipal budget operates on a calendar year. There are a number of reasons a municipality may wish to change to a fiscal budget cycle, such as to avoid operating without a budget each year from January to March. Vermont law allows municipalities to change to a different budget cycle, the most common of which is July 1 through June 30. For municipalities interested in making the switch, converting from a calendar year to a fiscal year budget cycle boils down to pre-planning, voter approval, and implementing a transitional budget to bridge the gap created by the change in the first year. VLCT has created this info sheet to guide municipalities through the process of making the change.
If you have questions, please contact firstname.lastname@example.org or call 1-800-749-6915.