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Finance department presents FY27 budget, flags $1.4M VT Buys cost and Workday implementation details
Summary
The Department of Finance and Management told the Appropriations Committee its FY27 governor’s recommendation includes internal service fund changes tied to ERP modernization and a new VT Buys procurement module that adds about $1.4 million to the Financial Management Fund; the department said the budget module went live on schedule after a $1.1 million implementation paid from a prior ERP appropriation.
The Department of Finance and Management presented its FY27 budget to the Appropriations Committee on Jan. 20, explaining that internal service fund charges are rising because the state has begun operating a new procurement system and continuing ERP modernization work. The department said the Financial Management Fund will increase by about $1.4 million this year to cover VT Buys licensing and staff support, and that the governor’s recommendation includes the increase.
Why it matters: the Financial Management Fund is paid by agencies statewide. Departments will see their internal service fund charges rise to cover new software licensing and support; the change affects budgeting across multiple agencies and carries ongoing operating costs rather than a one‑time investment.
The presentation was given by the department’s commissioner (speaker S2). He described two divisions funded by separate appropriations in the governor’s recommendation: Budget and Management (B106) and Financial Operations (B107). Financial Operations runs the statewide Vision accounting system and provides help‑desk and reporting support; Budget and Management leads preparation of the governor’s budget and hosts five analysts who support statutory reporting and bill reviews.
On modernization, the…
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