The Committee on Budget, Appropriations and Finance of the Legislature of the U.S. Virgin Islands convened on June 10, 2025, to discuss key financial allocations and performance metrics for the fiscal year. The meeting highlighted several critical areas, including staff training challenges, utility funding, and revenue collection trends.

The session began with a report on staff training, noting that efforts to secure training for personnel have been hindered by constraints within the IRS. To address various contingency costs related to the new excise location on St. Thomas and the retrofitting of the Niske Center office, an allocation of $10,000 was designated under "other services."

Next, the committee reviewed the budget allocation for the Bureau for Utilities, which stands at $393,601. This figure reflects expenditures from the previous year under the single-payer utility fund, ensuring continuity in utility services.

A significant portion of the meeting focused on fiscal year 2025's revenue collections. The committee reported that total collections for fiscal year 2024 amounted to $787 million, with $721.7 million allocated to the General Fund and $66 million to special funds. A comparison of collections from October to May revealed an increase from $566 million in fiscal year 2024 to $599 million in fiscal year 2025, marking a notable increase of $33.5 million. This growth is attributed to positive economic activity at the national level.

However, the committee cautioned that this upward trend may not persist due to global uncertainties influenced by decisions from Washington, D.C. Additionally, the impending closure of Kmart on Cincoi was highlighted as a potential factor that could negatively impact future revenue collections.

In conclusion, the meeting underscored both the achievements and challenges facing the U.S. Virgin Islands' budgetary landscape as it navigates economic fluctuations and operational constraints. The committee plans to monitor these developments closely in the coming months.