{"id":1393,"date":"2021-08-11T00:06:44","date_gmt":"2021-08-11T00:06:44","guid":{"rendered":"https:\/\/www.vi.gov\/covid\/?p=1393"},"modified":"2021-08-26T16:56:22","modified_gmt":"2021-08-26T16:56:22","slug":"governor-bryan-gets-positive-financial-outlook-during-2021-revenue-estimating-conference","status":"publish","type":"post","link":"https:\/\/www.vi.gov\/covid\/news-post\/governor-bryan-gets-positive-financial-outlook-during-2021-revenue-estimating-conference\/","title":{"rendered":"Governor Bryan Gets Positive Financial Outlook During 2021 Revenue Estimating Conference"},"content":{"rendered":"\r\n

U.S. VIRGIN ISLANDS \u2013 Governor Albert Bryan Jr. heard largely positive projections for Fiscal Year 2021 from the revenue-generating agencies and departments of the Government of the Virgin Islands during the Office of Management & Budget\u2019s (OMB) 2021 Revenue Estimating Conference on Tuesday, August 10.<\/p>\r\n\r\n\r\n\r\n

In her Revenue Forecast before the presentations by the 18 agencies and departments reporting their revenue projections to Governor Bryan and Lt. Governor Tregenza A. Roach Esq., \u00a0OMB Director Jenifer O\u2019Neal is projecting a 2021 Total Gross Revenue of $909,023,773, which Governor Bryan pointed out is $71 million higher than the legislative appropriation of $838,933,534.<\/p>\r\n\r\n\r\n\r\n

\u201cToday, as a result of our administration\u2019s efforts, the Government of the Virgin islands can make good on longstanding obligations and realize additional revenue without having to add fees or raise taxes,\u201d Governor Bryan said. \u201cAfter nine years of all kinds of different schemes to pay back the 8 percent owed to government employees, this administration is in a financial position make those employees whole.\u201d<\/p>\r\n\r\n\r\n\r\n

The Governor underscored that the Bryan-Roach Administration continues to stabilize the Government of the Virgin Islands\u2019 financial situation and revenue remains strong despite the setbacks of the pandemic.<\/p>\r\n\r\n\r\n\r\n

\u201cWe\u2019ve worked with the Legislature and were able to do another $30 million of capital projects in road paving, in putting in docks, putting in boat ramps, all while dealing with COVID and keeping the numbers strong by our solid Tourism numbers,\u201d Governor Bryan said.<\/p>\r\n\r\n\r\n\r\n

\u201cAnd even though our expenditures are up, we\u2019re still keeping whole and keeping a tight rein on making sure that we spend the People\u2019s money responsibly; that we pay the vendors that we owe; that we pay people back what we owe them and we\u2019re going to release another $20 million in income tax refunds,\u201d the Governor said. \u201cWe sent down a supplemental budget to the Legislature for about $25 million dollars and by October, November we\u2019ll be able to pay out the 8 percent. Going into the new year, every single week I\u2019m getting a notice of new revenue coming to the Territory.\u201d<\/p>\r\n\r\n\r\n\r\n

\u00a0The Governor said the Bryan-Roach Administration continues to be transparent with its revenues and fiscal management as it continues diligently tracking and forecasting revenue while navigating COVID and continuing to monitor revenues to ensure it meets revenue projections.<\/p>\r\n\r\n\r\n\r\n

Director O\u2019Neal now will use the different projections that were presented Tuesday to derive a comprehensive overview and revenue forecast for the Territory.<\/p>\r\n\r\n\r\n\r\n

Copies of the different agency and department presentations are available to download at the OMB website at omb.vi.gov<\/a> and video of the livestream of the 2021 Spring Revenue Estimating Conference is available on the OMB Facebook page (click here<\/a><\/strong>).<\/p>\r\n\r\n\r\n\r\n

The Bryan-Roach Administration is committed to transparency, stabilizing the economy, restoring trust in the government and ensuring that recovery projects are completed as quickly as possible. Visit transparency.vi.gov<\/a><\/p>\r\n","protected":false},"excerpt":{"rendered":"

U.S. VIRGIN ISLANDS \u2013 Governor Albert Bryan Jr. heard largely positive projections for Fiscal Year 2021 from the revenue-generating agencies and departments of the Government of the Virgin Islands during the Office of Management & Budget\u2019s (OMB) 2021 Revenue Estimating Conference on Tuesday, August 10.<\/p>\n","protected":false},"author":2,"featured_media":1032,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-post"],"yoast_head":"\nGovernor Bryan Gets Positive Financial Outlook During 2021 Revenue Estimating Conference<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vi.gov\/covid\/news-post\/governor-bryan-gets-positive-financial-outlook-during-2021-revenue-estimating-conference\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Governor Bryan Gets Positive Financial Outlook During 2021 Revenue Estimating Conference\" \/>\n<meta property=\"og:description\" content=\"U.S. VIRGIN ISLANDS \u2013 Governor Albert Bryan Jr. heard largely positive projections for Fiscal Year 2021 from the revenue-generating agencies and departments of the Government of the Virgin Islands during the Office of Management & Budget\u2019s (OMB) 2021 Revenue Estimating Conference on Tuesday, August 10.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.vi.gov\/covid\/news-post\/governor-bryan-gets-positive-financial-outlook-during-2021-revenue-estimating-conference\/\" \/>\n<meta property=\"og:site_name\" content=\"Covid-19 Updates - 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