DOF Memo 011 09 Separate Acct for ARRA Funds March 6 2009
OFFICE OF (340) 774-4750 THE COMMISSIONER Fax: (340) 776-4028 GOVERNMENT OF qgsSSSStiy, tp Street Address: 76 Kronprindsens Gade Charlotte Amalie, VI 00802 Mailing Address: 2314 Kronprindsens Gade Charlotte Amalie, VI 00802 ies KS DEPARTMENT OF FINANCE March 5, 2009 FINANCE MEMORANDUM NO. 011-09 TO: ALL DEPARTMENT AGENCY HEADS SPECIAL ATTENTION TO: Federal Program Managers > = ‘ Ss FROM: Claudette Watson-Anderson, CPA Commissioner Re: Separate Bank Account Established to Track Recovery Act Funds In meeting the underlying tenets of the American Recovery & Reinvestment Act (“Recovery Act”) of 2009, the Government of the Virgin Islands (GVI) will strive to exceed the primary principles of the Recovery Act: accountability and transparency. With this in mind, the Department of Finance (DOF) has established a separate bank account that will be used to track Recovery Act funds. …
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OFFICE OF (340) 774-4750 THE COMMISSIONER Fax: (340) 776-4028 GOVERNMENT OF qgsSSSStiy, tp Street Address: 76 Kronprindsens Gade Charlotte Amalie, VI 00802 Mailing Address: 2314 Kronprindsens Gade Charlotte Amalie, VI 00802 ies KS DEPARTMENT OF FINANCE March 5, 2009 FINANCE MEMORANDUM NO. 011-09 TO: ALL DEPARTMENT AGENCY HEADS SPECIAL ATTENTION TO: Federal Program Managers > = ‘ Ss FROM: Claudette Watson-Anderson, CPA Commissioner Re: Separate Bank Account Established to Track Recovery Act Funds In meeting the underlying tenets of the American Recovery & Reinvestment Act (“Recovery Act”) of 2009, the Government of the Virgin Islands (GVI) will strive to exceed the primary principles of the Recovery Act: accountability and transparency. With this in mind, the Department of Finance (DOF) has established a separate bank account that will be used to track Recovery Act funds. The requisite details of this new bank account will be communicated under separate cover to the appropriate persons to ensure that the present system(s) used to drawdown Recovery Act funds are updated in a timely manner. Secondly, while the DOF is in the process of augmenting the Enterprise Resource Planning (ERP) system for the new bank account, we respectfully request that Recovery Act funds not be drawn down until updates to the ERP are complete. Finance Memorandum No. 011-09 March 11, 2009 Finally, since DOF is responsible for establishing the account coding structure within the ERP for Recovery Act funds; upon receipt of any Recovery Act federal award letters by department and agencies, a brief memorandum requesting account coding, along with a legible copy of the Recovery Act federal award letter should be forwarded to Ms. Clarina Elliott, Director of Accounting by hand delivery (return receipt) or via email at cmelliott@dof.gov.vi. As always, your time, consideration and cooperation is greatly appreciated. ce: Honorable John P. deJongh, Jr., Governor, OOG Louis Penn, Sr., Chief of Staff, OOG Valdamier O. Collens, CPA, MBA Laurel Payne, Director, Treasury, DOF Julito Francis, Executive Director, PFA