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FY2022 – FY 2024 SPRING REVENUE ESTIMATING CONFERENCE DPP – CONTINUING REVENUE GENERATION INCREASED REVENUES TECHNOLOGICAL INTEGRATION POLICY AND BUSINESS PROCESS OPTIMIZATION REVENUE ESTIMATE SNAPSHOT Agency Name REVENUE BREAKDOWN Revenue Category Project Count (If Applicable) Est. Revenue Fiscal Year Business & Commercial Property Leases $6,151,425.67 2023 Business & Commercial Property Leases $7,381,713.81 2024 FY23 and FY24 Total Estimated Revenue Revenue Summary FY23: $6,151,425.67 • Collection Unit creation w/in Division of Fiscal & Personnel Services • Increase of Lease Applications by $1.9M FY24: $7,381,713.81 • Policy Alignment with Revenue generation PERFORMANCE OUTLINE: Property Division • Real Property Leasing Strategy • Marketing and Normalization with property management standards • Increase Application Fee & implement Consumer Price Index (“CPI”) Increases • Increases in Existing Leases, • Implementation of Security Deposits • Recoup Survey & Appraisal Costs from B&C Tenants BUSINESS & COMMERCIAL COLLECTIONS FUND DESCRIPTION FY 2021 Actuals FY 2022 % Increase FY 2022 Estimated FY 2023 & FY 2024 % Increase FY 2023 PROJECTION INCREASE 10% FY 2024 PROJECTION INCREASE 6028/425000 Business & Commercial Lease Properties $3,168,836.31 67% $5,592,205.16 20% $6,151,425.67 $7,381,710.81 TOTALS…………… ……………………………………… $3,168,836.31 $5,592,205.16 $6,151,425.67 $7,381,710.81 PERFORMANCE OUTLINE: Property Division • Real Property Leasing Strategy • GVI enterprise-wide policy development and alignment • Legislative - Executive • A balanced approach to increase revenues through DPP FR 8 FY 23-24 Revenue Estimation/ Actual Collections Island Project Count (if applicable) Actual Revenue Per Island St. Thomas/ St. John N/A $4,689,721.56 St. Croix N/A $2,312,740.74 Totals Territorially $7,002,462.30 In FY 2021, despite challenges with COVID 19, limited staff, and remnants of Hurricanes Irma and Maria, the Department realized actual collections in the amount of $7,002,462.30 representing a 9.3% increase from our FY 2020 collections in the amount of $6,402,575. While DPP’s staff must be commended, we are now feeling the effects of illnesses due to COVID 19 long hauls. In order to continue to improve and enhance collections, the following must be the Department’s goals and objectives for the remainder of FY 2022 and FY 2023/FY 2024:  Establishment of a Revenue Collection Unit in the Department  Onboarding of professional and qualified staff, and training and retention goals  Acquisition of new software for GVI’s Leases  GVI Enterprise policy development