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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.”
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.