§ 11.7a. General Fund unrestricted fund balance
At the sole discretion of the Selectboard, a General Fund unrestricted reserve may be established in an amount that may not exceed five percent of the General Fund budget being considered by the Selectboard for presentation to the voters at Town meeting. The purpose of the fund shall be to aid in the cash flow and operation of the Town and to be used for such purpose as may be caused by an emergency. For expenditures other than an emergency, if in any year a portion of the unrestricted fund balance is applied as revenue to the General Fund or in a year that the reserve fund exceeds five percent of the current operating budget, funds must be applied to fund items found in the Town’s capital improvement plan. (Added 2011, No. M-7, § 2, eff. May 17, 2011.)
Structure Vermont Statutes
Title 24 Appendix - Municipal Charters
Chapter 147 - Town of Shelburne
App § 1.1. Corporate existence retained
App § 1.2. General law; application
App § 1.5. Reservation of powers to the Town
App § 3.4. Removal of elected Town officers
App § 3.5. Appointive officers
App § 3.7. Removal of officers appointed by the Board
App § 5.5. Record of proceedings
App § 7.1. Appointment and compensation
App § 9.1. Taxes on real and personal property
App § 9.2. Penalty and interest
App § 11.2. Preparation and submission
App § 11.3. Town meeting warning and budget
App § 11.5. Amount to be raised by taxation
App § 11.7. Transfers of appropriations
App § 11.7a. General Fund unrestricted fund balance
App § 11.8. Adoption of budget