Vermont Statutes Title 24 (Appendix). Municipal Charters, App. c. 5 § 1125. Budget surplus and deficit

Unless otherwise disposed of in the manner provided by law or set in reserve by the City Council, any surplus existing at the end of the fiscal year shall be carried forward as revenue in the General Fund for the next ensuing fiscal year. Any deficit existing at the end of the fiscal year shall be liquidated in the manner provided by law.