Vermont Statutes Title 32 Sec. 401
Terms Used In Vermont Statutes Title 32 Sec. 401
- 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.
- State: means the State of Vermont; a county, a municipality, or other subdivision thereof; commission, board, department, or agency thereof; or any other governmental entity authorized or created by State law, including public corporations and authorities. See
§ 401. Accounts
(a) The Commissioner of Finance and Management shall keep fair and accurate accounts of monies received and disbursed so as to show the proceeds of the several branches of revenue and the expenses of each department of the government.
(b) The Treasurer shall keep an accurate account in books of account of all monies received by the State from whatever source and of all monies withdrawn from the Treasury of the State upon warrants issued by the Commissioner of Finance and Management.
(c) In recording revenues of the General Fund as set forth in section 435 of this title and revenues of the Transportation Fund as set forth in 19 V.S.A. § 11, the Commissioner of Finance and Management shall as of June 30 each year maintain accounting records in accordance with Generally Accepted Accounting Principles that ensure consistency with each preceding fiscal year. (Amended 1959, No. 328 (Adj. Sess.), § 18; 1979, No. 74, § 328, eff. May 8, 1979; 1981, No. 87, § 4; 1983, No. 195 (Adj. Sess.), § 5; 1987, No. 243 (Adj. Sess.), §§ 59, 60, eff. June 13, 1988; 2015, No. 97 (Adj. Sess.), § 65.)