U.S. VIRGIN ISLANDS – The Office of Management & Budget (OMB) and members of Governor Albert Bryan Jr.’s Financial Team are putting the final touches on the Fiscal Year 2025 Recommended Executive Budget. This follows a series of intense evaluations and discussions at the recent Spring Revenue Estimating Conference held on May 7th.
In line with Title 2, Chapter 2, Section 22 of the Virgin Islands Code, OMB is currently performing a detailed mid-year review of the current FY 2024 budget. This review is crucial for ensuring that the budgeted amounts are in step with the actual revenues collected, a key element in maintaining fiscal responsibility and transparency.
The OMB will soon report its findings to the Committee on Finance and the Legislature’s Post Audit Division, adhering to the legal deadline set for one month after the revenue estimating conference.
Leader of Governor Bryan’s financial team, OMB Director Jenifer O’Neal, and other members of Governor Bryan’s financial team, has been rigorously working to match the FY 2024 budget projections with the actual financial data, aiming to establish a strong and feasible fiscal plan for FY 2025. This effort highlights the administration’s commitment to prudent financial management and strategic planning.
“Our financial team’s thorough work demonstrates our steadfast commitment to serving the Virgin Islands with integrity and transparency,” Governor Bryan stated. “We are well-prepared to introduce a balanced and thorough budget that meets our community’s needs and paves the way for sustainable growth and development.”
The Financial Team is scheduled to provide an overview of the Fiscal Year 2025 budget on June 4th. During this presentation, they will detail the main aspects of the budget and explain how these support the governor’s priorities in health, education, public safety, and economic growth.
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