The Fiscal Year 2014 V.I. government budget will be delayed past its statutory deadline of May 30 and will be submitted to the V.I. Legislature on June 14, according to Government House.
In an email sent at 7 p.m. Thursday, Government House released a letter sent to the Legislature announcing the delay.
"As you and your colleagues are well aware from our numerous discussions over the past several months, the current fiscal year challenges continue to be unresolved and have had an impact," Gov. John deJongh Jr. said in the letter. "We continue to have a Fiscal Year 2013 budget shortfall and as we enter the fourth quarter, the slowest revenue generation cycle of the year, some cash-flow issues," he said.
The extra time will allow the territory to "explore our options to ensure that the process is equitable and comprehensive," deJongh said, by way of explanation for the delay.
