May 27, 2016
May 27, 2016 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 to you the proposed Executive Budget for Fiscal Year 2017 for the Government of the Virgin Islands of the United States (“Government”). When my Administration took office in January 2015, we were confronted with a budget deficit of approximately $133.0 million for Fiscal Year 2015 – this amount ultimately grew to $144.0 million. We implemented expenditure reductions in departments and agencies, solved our financial impasse with Hess Oil/HOVENSA, settled long standing obligations with taxpayers, creditors, vendors and our public employees and introduced other fiscal measures to reduce this structural deficit. Given our fiscal discipline and fiscal prudence, we now can state that the FY 2017 structural budget deficit will be $110.0 million which is a reduction of $34.0 million or 24.7 percent less than 2015. …
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