Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Appropriations committee outlines FY25 closeout carryforward, $45M contingency and new federal‑funds rescission triggers
Summary
Staff described a FY25 closeout plan that would designate $138.52 million to carry into FY26, create contingent appropriations including a $45 million appropriation available for emergency board transfer in case of federal fund reductions, and propose statutory triggers and reporting around possible federal funding rescissions.
Joint Fiscal Office staff briefed the Appropriations Committee on closeout language and a rescue/contingency framework to address possible mid‑year federal funding losses.
Emily Burns of the Joint Fiscal Office explained the closeout sequence: the state will first restore the stabilization reserve per 32 V.S.A. §308, then designate $138,520,000 of unallocated/unreserved FY25 balances to be carried forward into FY26 "notwithstanding" normal waterfall rules, Burns said. After those designations, finance and management would calculate which contingent appropriations from a pre‑ordered list could be funded; any remaining balance would flow into the rainy‑day and pension allocations under existing statute.
Two…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
