A high-ranking official in the administration of Gov. Charles W. Turnbull has tentatively indicated the V.I. government has gone from budget deficit to budget surplus.
Special Assistant to the Governor for Policy Initiatives James O'Bryan Jr. was asked on Tuesday about reports that directives had been issued by fiscal officers of the administration that the surplus revelation be kept secret.
"I can confirm that at the last cabinet meeting on St. John, Finance Commissioner Bernice Turnbull indicated that based on a preliminary review of the government's books, we ended with a $20 million surplus," he said. O'Bryan said that despite the surplus, accounts must still be reconciled and there are still outstanding bills to be paid.
When asked why the information was not to be divulged publicly, O'Bryan said the administration did not want to mislead the public about the true financial situation of the government. Still, he said, "there is no question that the government finished the Fiscal Year 2001 in very good shape."
If indeed there is a budget surplus, it would mean that deficit spending has been reversed for the first time in many years.
