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Virgin Islands of the United States Bureau of Motor Vehicles 2021 Spring Revenue Estimating Conference Presentation August 10th, 2021 Barbara E. Jackson-McIntosh, Director To provide the public with drivers’ licensing, vehicle titling, vehicle registration services, and other business transactions required by law. DRIVERS’ LICENSING BUSINESS TRANSACTIONS VEHICLE REGISTRATION SERVICES VEHICLE TITLING Mission Statement 8 Services Currently Offered 1 Drivers license issuance and documents verification 2 REAL ID 3 Disability Placards 4 Vehicle Inspection 5 Vehicle title issuance 6 Online Registration 7 Business Services Moving Permit 9 Vehicle Export Documents 10 Block records (child support, stolen, insurance, abandoned vehicles, other discrepancies) 2017 2018 2019 2020 2021 2022 2023 General Fund $566,123 $610,184 $717,171 $784,565 $857,594 $930,623 $1,003,652 Certificate of Title $11,535 $9,925 $15,258 $16,222 $17,809 $19,395 $20,981 Personalized License Plates $2,147,507 $1,211,624 $1,312,168 $1,412,712 $1,513,256 $1,613,800 $1,714,344 Motor Cycle Safety $74,115 $84,826 $96,500 $107,568 $118,722 $129,877 $141,031 Peace Officer Training Fund $453,622 $346,374 $422,561 $383,331 $360,527 $337,724 $314,920 Centennial Fund $248,680 $313,443 $275,173 $301,731 $319,063 $336,395 $353,726 Transportation Trust Fund $6,555,940 $5,483,197 $7,574,214 $7,674,595 $8,058,290 $8,441,986 $8,825,681 Total $10,057,522 $8,059,573 $10,413,045 $10,680,724 $11,245,262 $11,809,799 $12,374,336 $10,057,522 $8,059,573 $10,413,045 $10,680,724 $11,245,262 $11,809,799 $12,374,336 $0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 Revenue Forecast by fund Revenue Forecast as of 2/1/2019 Revenue Forecast as of 1/31/2021 2017 2018 2019 2020 2021 2022 2023 $10,057,522 $8,059,573 $10,413,045 $9,407,530 $9,577,533 $10,633,136 $12,598,511 0 2000000 4000000 6000000 8000000 10000000 12000000 14000000 1 2 3 4 5 6 7 2021-2023 Revised projection 1/31/21 ACTUAL REVENUES AS OF 7/29/21 2017 2018 2019 2020 2021 2022 2023 $10,057,522 $8,059,573 $10,413,045 $9,407,530 $8,016,803 $10,633,136 $12,598,511 2017-2021 actual and 2022-2023 projected Projected $9,796,803 • FY 2019 revenues $10,413,045 The increase in revenues in FY 2019 is as a result of the efforts made to streamline the processes and offer electronic services. • FY 2020 revenues $9,407,530 As a result of the sudden change in services due to the COVID-19 pandemic, such as the waiver of vehicle inspection, and a 6 month time extension on expired drivers licenses, there was a significant decrease (approx. 1mil) in revenue collections. Revenue Summary Revenue Summary • FY 2021 REVENUE PROJECTION is $9,577,533, however the ACTUAL collections should be $9,796,803: • Average monthly collections in the offices- $800,000 • Average monthly online collections- $ 90,000 • Plus revenues to date $8,016,803 Revenue Summary • FY 2022 projection is 10.6 million (revenues from new services and administrative fees) • FY 2023 projection is $12.6 million (revenues from new services and administrative fees) 1 2 3 4 5 6 7 8 GVI Self Service Vehicle Registration Renewal-2023 Online Drivers License-2021 Online ID and Disability Cards- 2021 State to State Drivers License Verification-2023 Electronic Insurance Verification-2022 National Motor Vehicle Information Titling System(NMVITIS)- 2022 PROCESS UPGRADE Completed- currently in the testing phase Work has commenced On track for 2022 2023 Superior Court Integration-2021 Points System-2022 On behalf of the Staff and Management of the BMV we thank you for your support, we look forward to working with you in FY 2022