§ 706 - Transfer of appropriations - Vermont Statutes

§ 706. Transfer of appropriations

Notwithstanding any authority granted elsewhere, all transfers of appropriations shall be made pursuant to this section upon the initiative of the governor, or upon the request of a secretary or commissioner.

(1) With the approval of the governor, the secretary of administration may transfer balances of appropriations not to exceed $50,000.00 made under any appropriation act for the support of the government from one component of an agency, department, or other unit of state government, to any component of the same agency, department, or unit.

(2) Except as specified in subdivisions (1) and (4) of this section, the transfer of balances of appropriations may be made only with the approval of the emergency board.

(3) For the specific purpose of balancing and closing out fund accounts at the end of a fiscal year, the commissioner of finance and management may adjust a balance within an account of an agency or department in an amount not to exceed $100.00.

(4) With the approval of the governor, the secretary of transportation may transfer balances of appropriations made under any appropriation act from one department or unit of the agency of transportation to another department or unit of the agency of transportation for the specific purpose of funding authorized transportation projects which have been approved by the federal government for advance construction in which the expenditure of state funds will be reimbursed by federal funds when the federal funds become available, and the transfer is limited to funds which have been approved for reimbursement. Upon such reimbursement, the transferred funds shall be transferred back to the original department or unit of the agency of transportation from which the initial transfer for purposes of funding the advance construction was made. When any appropriation is transferred pursuant to this subdivision, the secretary of transportation shall report the transfer to the house and senate committees on transportation when the general assembly is in session, and when the general assembly is not in session, to the joint transportation oversight committee at one of the meetings scheduled pursuant to 19 V.S.A. § 12b(d). (Added 1959, No. 328 (Adj. Sess.), § 6; amended 1971, No. 92, § 16, eff. June 1, 1971; 1977, No. 247 (Adj. Sess.), § 188, eff. April 17, 1978; 1979, No. 74, § 321; 1983, No. 195 (Adj. Sess.), § 5(b); 1999, No. 11, § 1; 1999, No. 66 (Adj. Sess.), § 53, eff. Feb. 8, 2000; 2003, No. 80 (Adj. Sess.), § 79, eff. March 8, 2004; 2005, No. 80, § 52; 2007, No. 65, § 395, eff. June 4, 2007.)