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2011 Vermont Code
Title 24 Appendix Municipal Charters
Chapter 13 CITY OF SOUTH BURLINGTON
§ 1309 Net cost of operations


24 VT Stats App. § 13-1309. (2011 through Adj Sess) What's This?

§ 13-1309. Net cost of operations

(a) Net cost of operations shall be defined as the gross budget of the city or school district less the following deductions as defined in subsections (b) through (f) of this section if such items appear in the gross budget:

(1) Payment on account of bonded debt.

(2) Payment for municipal utilities funded by user fees.

(3) Special appropriations.

(4) Federal and state aid designated for specific programs.

(5) Transfer payments.

(6) Tuition income for nonresident students.

(7) Payments assessed against the city or schools by other public bodies or quasi-public bodies such as the Chittenden County transit authority, Winooski valley park district, and Chittenden County Court, Regional Planning Commission, and Metropolitan Planning Organization.

(8) Non-governmental revenue.

(b) Bonded debt is that indebtedness having an original maturity in excess of one year for which bonds or other debt instruments have been authorized and includes temporary notes issued in anticipation of the money to be derived from the sale of such bonds or execution of other debt instruments.

(c) Current fiscal year means the fiscal year in effect at the time that the proposed budget for the next fiscal year is in the process of preparation and adoption.

(d) Federal and state aid designated for special programs include:

(1) School district: Special education, driver education, and like items.

(2) City: Federal Employment Act and like items.

(e) A special appropriation is an expenditure which is separately authorized by the voters at an annual or special meeting of the city or school district. The warning for such meeting shall state by separate article the amount, purpose and number of years that such special appropriation shall be authorized, as well as the method of funding.

(f) Transfer payments are those in which the city or schools collect money which is transferred to other units of government.

(g) Non-governmental revenue includes funds donated to the city or school district by private individuals or organizations, or like items.

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