House gives preliminary approval to the Budget Adjustment Act

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House gives preliminary approval to the Budget Adjustment Act

Thu, 01/18/2018 - 4:37pm -- tim

Vermont Business Magazine The House today gave preliminary approval on a vote of 142-1 to the fiscal year 2018 budget adjustment, House bill 633. The bill was approved unanimously by the House Appropriations Committee earlier in the week and is expected to receive final approval by the House tomorrow. The annual budget adjustment process makes midpoint updates to the current operating budget of the state to meet unexpected needs and keep the budget in balance.

Representative Kitty Toll, Chair of the Appropriations Committee, said “this bill reinforces Vermont’s commitment to continued budgeting practices that are responsible, including reserving funds that will help to weather the financial uncertainty coming from Washington. Creating an additional reserve fund of nearly $5 million will certainly not address all possible reductions from Washington, but continues to move us in the right direction to mitigate cuts and to ensure Vermonters have access to vital government services.”

“This bill continues in the direction of the initial budget, making targeted investments that support Vermont families and strengthen our communities,” added House Speaker Mitzi Johnson. “The bill continues funding for services for homeless Vermonters, mental health outreach services, and increases funding to the Vermont Veterans Home. These investments and the $5 million reserve funds ensure we are keeping our Vermont economy strong and our communities healthy.

Source: Office of the Speaker 1.18.2018