Vermont Statutes Title 16 Sec. 567
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Terms Used In Vermont Statutes Title 16 Sec. 567
- School board: means the board of school directors elected to manage the schools of a school district, the prudential committee of an incorporated school district, the supervisory union board of directors, and the supervisors of unorganized towns and gores. See
- School district: means town school districts, union school districts, interstate school districts, city school districts, unified union districts, and incorporated school districts, each of which is governed by a publicly elected board. See
§ 567. Surplus
If an audit reveals that a school district has surplus funds, the school board shall carry the funds into the next year as revenue unless authorized by the voters, at an annual or special meeting warned for the purpose, to:
(1) deposit the funds into a reserve fund established pursuant to 24 V.S.A. § 2804; or
(2) use the funds for a specific purpose. (Added 2003, No. 107 (Adj. Sess.), § 4; amended 2013, No. 92 (Adj. Sess.), § 71, eff. Feb. 14, 2014.)