May 29, 2015
May 29, 2015 Honorable Neville James Senate President 31st Legislature of the U.S. Virgin Islands Capitol Building St. Thomas, VI 00802 Dear Senate President James: I am pleased to submit the proposed Executive Budget for Fiscal Year 2016 for the Government of the Unites States Virgin Islands (“Government”). As you are aware, when my Administration took office in January 2015, already into the second quarter, we were confronted with a budget deficit of approximately $133 million for Fiscal Year 2015 – which ultimately grew to $144 million. We were forced to implement expenditure reductions on departments and agencies, along with other measures, to put in place a plan to close the budget gap. The FY 2016 Budget, which will finance the first full fiscal year of my Administration, is structured to lay a foundation for a future in which massive annual budget deficits are not the norm. …
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