Vermont Statutes Title 16 Sec. 2176
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Terms Used In Vermont Statutes Title 16 Sec. 2176
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
§ 2176. Procedures relating to accounting
The Corporation shall develop, administer, and install procedures relating to accounting practices, control of expenditures, budgets, audits, and purchase of supplies. The fiscal year of the Corporation shall be July 1 to June 30, and its fiscal biennium shall be the period of two successive fiscal years beginning July 1 of each odd-numbered year. (Added 1961, No. 247, § 1, eff. July 28, 1961.)