Governor Mapp Approves Fiscal Year 2019 Budget
- Staff
- October 08, 2018
Governor Mapp has approved the $1.32 billion Fiscal Year 2019 budget for the Government of the Virgin Islands, Government House made known via release Sunday. The budget was submitted to the 32nd Legislature on May 30, 2018 and senators acted to approve it on September 19th. Mr. Mapp notified Senate President Myron Jackson on Friday evening that he had signed off on the budget bills. Government operations will be funded by $1.0725 billion in local, transfer and other funds and $238.66 million from federal sources. The FY2019 budget includes $150 million for debt service payments and $38 million for income tax refunds. According Government House, while the budget outlines the severe impact to the territory's economy in the aftermath of Hurricanes Irma and Maria, the billions in federal dollars the Virgin Islands has received will provide for economic growth. A projected $164.5 million in new revenue is the result of rebuilding activities, expanded refinery operations and other reve...
