Finance and Management Department – Montpelier, VT

Vermont Department of Finance and Management

The Vermont Department of Finance and Management is a central fiscal agency within the Agency of Administration, located at the Pavilion Building in Montpelier. This department acts as the state’s budget office and principal accounting entity, playing a critical role in maintaining the financial integrity of Vermont’s state government. It provides technical and analytical support to the Governor and state legislature regarding the state’s fiscal health.

Key Responsibilities

• Budget Development and Execution: The department leads the preparation of the Governor’s annual budget recommendations and oversees the implementation of the enacted budget, ensuring agencies adhere to spending limits.
• Financial Reporting: Responsible for producing the State’s Annual Comprehensive Financial Report (ACFR), which provides a detailed audit of the state’s financial position in accordance with Generally Accepted Accounting Principles (GAAP).
• VISION System Management: Manages the Vermont Integrated Solution for Information and Organizational Needs (VISION), the statewide financial accounting system used by all departments for transactions and reporting.
• Internal Controls: Establishes and monitors internal control standards to prevent fraud, waste, and abuse of state resources, providing guidance and auditing services to other agencies.

Services for State Agencies

While primarily serving internal government functions, the department sets policies for travel and expense reimbursement, grant management, and financial processing. It ensures that taxpayer funds are managed with accountability and transparency across the executive branch.