May 20, 2009 — Of $280 million in formula grants for the Virgin Islands under President Barack Obama's economic stimulus package, $61 million has been awarded and $16 million disbursed so far, Public Finance Authority and Office of Economic Opportunity Director Julito Francis said during a cabinet meeting Wednesday.
The OEO, working with other government agencies, is looking for every potential source of funding within the stimulus, Francis said.
At the meeting on St. Thomas, Gov. John deJongh, Jr. urged his cabinet members to work closely with the OEO in the grant applications process, to get the most benefit to the territory from the stimulus package.
Along with the PFA, deJongh heard an update from the Office of Management and Budget regarding the territory's financial condition; Department of Finance's recommendations for exercising tighter accounting control of the government's petty cash; VITEMA's efforts in preparation for the upcoming hurricane season; the Division of Personnel's NOPA process amid the current government hiring freeze; and the Office of Economic Opportunity's oversight of stimulus funding in the territory.
Government House issued a statement about the meeting and its topics Wednesday evening.
Lt. Gov. Gregory Francis discussed the steps being taken by the V.I. Government to implement an online licensure process. Online permitting, "e-rooms," and other online processes have also been developed.
"As we coordinate our efforts to provide greater clarity to these processes, we improve our overall delivery and availability of services to residents of the territory," Francis said.
Office of Management and Budget Director Debra Gottlieb spoke of a projected revenue shortfall of $188.1 million for this fiscal year and $192.9 million for Fiscal Year 2010.
"While cuts may not be applicable across the board for all departments and agencies, we are making adjustments to the '09 and '10 Fiscal Year budgets so that we are able to sustain our anticipated expenditures," she said. "In order to do so, it is necessary that we implement expenditure reductions, continue the limited hiring freeze, monitor spending patterns and apply other proactive measures. We must also maximize the use of (stimulus) funds and monitor our overall expenses so that we do not incur unnecessary costs."
Finance Commissioner Angel Dawson spoke of exercising more control of government petty cash funds by establishing and reinforcing limits for departments and agencies, and adding control measures for government petty cash and imprest funds.
"We want to be able to provide the needed funds so that staffs may operate their offices and purchase needed supplies and equipment. However, it is critical that we also manage our petty cash funds responsibly," Dawson said.
VITEMA State Director Mark Walters provided an overview of the agency's preparation in advance of the upcoming hurricane season, emphasizing the need for all government agencies to keep working together.
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