§ 111 - Financial literacy trust fund - Vermont Statutes

§ 111. Financial literacy trust fund

(a) There is hereby established and created a fund entitled the financial literacy trust fund to be administered by the state treasurer. The purpose of the fund is to promote the adoption of fiscally sound money management practices by Vermonters through education and outreach efforts that raise awareness of the need for and benefits of practicing such skills; and to create opportunities to build and encourage the development of new financial literacy activities and educational products for Vermont citizens.

(b) The fund may receive state appropriations, gifts, grants, federal funds, and any other funds, both public and private, consistent with this section. The funds may be expended for financial literacy projects as the treasurer may direct, in accordance with the trust fund provisions of section 462 of this title.

(c) The treasurer may invest monies in the fund in accordance with the provisions of section 434 of this title. All balances in the fund at the end of the fiscal year shall be carried forward and shall not revert to the general fund. Interest earned shall remain in the fund. The treasurer's annual financial report to the governor and the general assembly shall contain an accounting of receipts, disbursements and earnings of the fund. (Added 2007, No. 192 (Adj. Sess.), § 6.009.)