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Tuesday, August 11, 2020
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Senators, Administrators Look to Cushion Economic Impact of Quarantine

The territory’s economy is in such a state that at a meeting of the Senate Finance Committee Tuesday Sen. Athneil Thomas asked the governor’s financial team which actions might be less devastating, not which might be good.
Office of Disaster Recovery Director Adrienne Williams-Octalien, Bureau of Internal Revenue Director Joel Lee, Budget Director Jennifer O'Neal and Finance Commissioner Kirk Callwood appear at Wednesday's Committee of the Whole hearing by video conference. (Image from the V.I. Legislature)

Pandemic Blows $150 Million Hole in Already Tight V.I. Budget

The economic constriction caused by the global coronavirus pandemic has blown a $150 million hole in the U.S. Virgin Islands’ budget projections for the current year, and the government has to cut expenses and hope to borrow enough to plug the hole.

Pandemic Economics: How bad Is It?

When asked to estimate the impact of the novel coronavirus on the V.I. government’s revenues, Bureau of Internal Revenue Director Joel Lee said they could not give a firm projection “because this has never happened before.”
Albert Bryan

Bryan Signs Budget and Bills, with Some Reservations

Gov. Albert Bryan Jr. signed a slew of bills into law Tuesday, including the Fiscal Year 2020 V.I. Government budget bills.

Hospital Board Tables Vote for New Chairperson, Approves Equipment Purchases

Before they got down to business, members of the Government Hospital and Health Facilities Corporation – the territorial hospital board, attempted to change the agenda and vote for a new chairperson Thursday.
Nathan Simmonds, director of finance administration at the Public Finance Authority, testifies before the Senate Finance Committee Monday. (Photo by the V.I. Legislature)

PFA Looking into Reprogramming Unspent Capital Projects Funds

The Public Finance Authority is exploring ways to address roughly $115 million in unexpended capital projects funding, a chronic problem among local agencies. Reprogramming them for other purposes is not off the table, Nathan Simmonds, the director of finance administration at the Public Finance Authority, told lawmakers Monday.
Budget Director Jenifer O’Neal testifies Tuesday. (Photo by Barry Leerdam for the USVI Legislature)

Bryan’s Finance Team Presents Budget with Half a Billion in Cuts

Gov. Albert Bryan Jr.'s administration is planning about 30 percent cuts in expenditures for Fiscal Year 2020, the governor’s finance team told lawmakers Tuesday, presenting a reduction of more than half a billion dollars compared with the Fiscal Year 2019 budget.
Discussing disaster recovery at the PFA board meeting are Kirk Callwood, Jenifer O’Neal, Keith O’Neale, Gov. Albert Bryan, Nathan Simmonds, Dorothy Isaac and Adrienne Williams-Ocatalien.

PFA Deals with Hurricane Recovery

The board members of the V.I. Public Finance Authority dealt with hurricane recovery Friday – arranging for matching dollars for FEMA projects and discussing how to move the road-renovation project forward last week at the St. Croix PFA office.

Administration’s Cabinet Meeting Focuses on FY 2020 Budget, Government Stability

Members of Governor Albert Bryan Jr.’s Cabinet came together Wednesday at Government House on St. Croix to discuss the administration’s FY 2020 budget and policy priorities.





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