Government

Government Has Only 16 Days Of Cash On Hand, Should Have 180

Commissioner-designee of the Virgin Islands Department of Finance Valdamier O. Collens Thursday revealed that the V.I. government has only 16 days of cash remaining in its coffers, but ideally should have at least 180 days. Collens made the bleak revelation during testimony at his confirmation hearing before the Senate Committee on Rules and Judiciary, chaired by Sen. Kenneth Gittens, that took place at the Earl B. Ottley Legislative Hall on St. Thomas. Following Collens' 25-page report, the floor was opened for two rounds of questioning from committee members and other members of the 31st Legislature. St. Thomas Sen. Jean A. Forde was the first to address the government's cash crisis. "During your testimony, you made mention that the number of days of cash on hand is approximately 16 days," Forde began. "You said that normally to be in good standing, so to speak, 180 days of cash on hand is probably what you would need. Is this your way of saying that currently we are broke?...