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SENATOR NOVELLE E. FRANCIS, JR. 36TH LEGISLATURE OF THE VIRGIN ISLANDS Chairman, Committee on Budget, Appropriations and Finance Revised III Memorandum No. 25-012 To: Committee on Budget, Appropriations and Finance Members The Honorable Marvin A. Blyden, Vice-Chairman The Honorable Dwayne M. DeGraff The Honorable Ray Fonseca The Honorable Hubert L. Frederick The Honorable Marise C. James The Honorable Kurt A. Vialet From: The Honorable Novelle E. Francis, Jr. Chairman, Committee on Budget, Appropriations and Finance Date: May 28, 2026 Re: June 8, 2026 Committee on Budget, Appropriations and Finance Meeting (Budget Overview) Block I The Committee on Budget, Appropriations and Finance will meet on Monday, June 8, 2026, 10:00 A.M. in the Earle B. Ottley Legislative Hall on St. Thomas to receive testimony from the Government’s Financial Team on the Fiscal Year 2027 Executive Budget for the Government of the US Virgin Islands to include:  Fiscal year 2026 budget appropriations vs. revenue collections to date;  Total allotments to date and allotment reductions;  Projected revenues through September 30, 2026 and proposed adjustments due to revenue shortfalls if any;  Status of union negotiations;  Status of outstanding payments due to vendors for FY 2026 and funding to semi- autonomous agencies;  Property taxes;  Line of Credit;  The Budget Stabilization Fund;  Cash on hand;  Federal drawdowns and status of federal grants to include FEMA, ARPA and CARES  Status of government rental (property); and  Outstanding vendor payments from FY2026 Invited Testifiers: Honorable Kevin McCurdy, Commissioner, VI Department of Finance Mr. Julio Rhymer, Director, Office of Management and Budget Mr. Joel Lee, Director, VI Bureau of Internal Revenue Mr. Brent Leerdam, Tax Collector, Office of the Lt. Governor Mr. Ludence Romney, Tax Assessor, Office of the Lt. Governor Ms. Joss Springette, Esq., Chief Negotiator, Office of Collective Bargaining Ms. Cindy L. Richardson, Director, Division of Personnel Committee on Budget, Appropriations and Finance June 8, 2026 Ms. Adrienne Williams-Octalien, Director, Office of Disaster Recovery Mr. Nathan Simmonds, Director of Finance & Administration, VI Public Finance Authority Dr. Haldane Davies, Director, Bureau of Economic Research Block II The Committee on Budget, Appropriations and Finance will receive testimony on the following bills: Bill No. 36-0045 An Act appropriating the sum of $400,000 from the Tourism Advertising Revolving Fund to the Virgin Islands Taxicab Commission for the implementation of technological upgrades Sponsored by Senator Angel L. Bolques, Jr.; Co-Sponsored by Senator Marvin A. Blyden Invited Testifiers: Honorable Kevin G. McCurdy, Commissioner, Virgin Islands Department of Finance Ms. Melissa Smith, Executive Director, Virgin Islands Taxicab Commission Mr. Rupert Ross, Director, Virgin Islands Bureau of Information Technology Bill No. 36-0273 An act amending Act No. 8465 redirecting the appropriation from the First- Time Homebuyers Program to the Williams Delight Community Homeownership Program and the VI Slice Homeownership Program Sponsored by Senator Kurt A. Vialet Invited Testifiers: Mr. Wayne Biggs, Jr., Executive Director, VI Economic Development Authority Mr. Julio Rhymer, Sr., Director, Office of Management and Budget Ms. Valdez Shelford, Interim Executive Director, VI Housing Finance Authority Mr. Dwayne Alexander, Executive Director, VI Housing Authority Bill No. 36-0274 An act requiring the Virgin Islands Housing Finance Authority to pay compensation to the homeowners within the LBJ Gardens community who have been required to vacate their homes as a result of the actions related to the demolition of properties owned by the Virgin Islands Housing Finance Authority and associated with the operations of the Virgin Islands Water and Power Authority and the Virgin Islands Waste Management Authority Sponsored by Senators Clifford A. Joseph, Sr., Marise C. James, Novelle E. Francis, Jr. and Hubert L. Frederick; Co-Sponsored by Senators Angel L. Bolques, Jr., Ray Fonseca Invited Testifiers: Honorable Kevin G. McCurdy, Commissioner, VI Department of Finance Mr. Julio Rhymer, Director, Office of Management and Budget Ms. Valdez Shelford, Interim Executive Director, VI Housing Finance Authority Mr. Karl Knight, Executive Director/Chief Executive Officer, VI Water and Power Authority Ms. Wanda Centeno, Resident Ms. Margarette Acevedo, Real Estate Appraiser