BUDGET RESOLUTION — January 23, 2007
UNIVERSITY OF THE VIRGIN ISLANDS BUDGET RESOLUTION FISCAL YEAR 2007-2008 Authorizing the FY 2008 appropriation request for operating, debt service and other mandated programs. WHEREAS, the University received communication dated January 23, 2007 from the Office of Management and Budget (OMB) of the Government wherein OMB issued the Fiscal Year 2008 Budget Call. OMB advised the University of its General Fund Expenditure Ceiling of $34,000,000, based on projected revenues for Fiscal Year 2008 for the Government of the Virgin Islands; and WHEREAS, the Virgin Islands Government appropriation to the University for FY 2007 was as follows: Regular Operating Appropriation. …
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UNIVERSITY OF THE VIRGIN ISLANDS BUDGET RESOLUTION FISCAL YEAR 2007-2008 Authorizing the FY 2008 appropriation request for operating, debt service and other mandated programs. WHEREAS, the University received communication dated January 23, 2007 from the Office of Management and Budget (OMB) of the Government wherein OMB issued the Fiscal Year 2008 Budget Call. OMB advised the University of its General Fund Expenditure Ceiling of $34,000,000, based on projected revenues for Fiscal Year 2008 for the Government of the Virgin Islands; and WHEREAS, the Virgin Islands Government appropriation to the University for FY 2007 was as follows: Regular Operating Appropriation. ...:..........:seeseeeeeeeeeee sees $29,219,056 Debt Service Appropriation .................cscrserssessssecessensseeeseeseensseeons 3,192,205 IRE SPAAN EAR A OTN c 6s 44 ss sano ssesiisesso.scecveseveeecdnoveesestocen ua diamieneeeyseeeeecearay 184,243 SE TONE TUUIOR ..:..............-...occecnnestacssaeephesninemaneRenraaennvenssenell 37;:773 SBDC Appropriation .....................ssesescscsssensersnesersesegessonsensscnseessenss 300,000 TSateer itl ATE? VUITIOM +: «:0s0s0s0s.-.---0ssaadeeesnedseeseccvsasensanunee tae menaronees 176,723 Valedictorian and Salutatorian Scholarships ...........::ccccscesseeereeseeeees 240,000 PGA eRe er (CH Fr Al AA WOLUS...........ccsssonnceuasoarearducansnenmniginesrs<ossieer 250,000 Community Engagement & Lifelong Learning (CELL) ................. 100,000 Te as cisshsvdkecanstacesssrnesovespsdeossesvnesssbeasoeenno0e3@enes@i tee EamamnneerEeS $33,700,000 WHEREAS, that level of appropriation enabled the University to fund the following: (a) The cost of employee salaries and benefits, books, equipment, contracted services, incidental expenses and other expenses related to the operations of the University; and (b) The cost to provide legislatively mandated programs for veterans, senior citizens, the National Guard, valedictorians, salutatorians, academic and cultural awards endowments, SBDC local match and CELL; and WHEREAS, a modest provision of $1,164,280 to offset costs for more pressing equipment replacement needs and incidents of plant deterioration which have been minimally addressed over the last few years. FY 2008 Budget Resolution