Vermont Statutes Title 24 (Appendix). Municipal Charters, App. c. 101 § 29. Appropriation

(a) All amounts specified in the budget and approved by the voters at an annual Town election are appropriated for the purpose specified in the budget. Adoption of the budget shall constitute appropriations of the amounts specified therein as expenditures from the funds indicated and shall constitute a levy for all revenues proposed in the budget. The Selectboard may transfer within the fiscal year any unexpended appropriation balance or portion thereof between general classifications or expenditures.

(b) Money shall not be paid out of the Town Treasury except on a payroll or warrant signed by at least three of the members of the Selectboard and authenticated by the Town Manager.

(c) Every appropriation, except an appropriation for a capital expenditure, shall lapse at the close of the fiscal year to the extent that it has not been expended or encumbered. An appropriation for capital expenditure shall continue in force until the purposes for which it was made have been accomplished or formally abandoned.