Gov. Albert Bryan Jr. announced Monday that his administration is advancing the formation of an eight-member Financial Solutions Task Force to develop potential bond-financing options and structural reforms addressing long-standing financial obligations carried by several of the territory’s most critical public institutions.
The proposed advisory task force would bring together senior financial officials from the Bryan-Roach administration and members of the 36th Legislature in a collaborative effort to address uncompensated-care costs carried by the territory’s hospitals and health care centers, as well as the long-term obligations of the Virgin Islands Waste Management Authority and the Virgin Islands Water and Power Authority.
Under the proposed structure, Office of Management and Budget Director Julio Rhymer and Sen. Novelle E. Francis Jr., former Senate president and current chairman of the Committee on Budget, Appropriations and Finance, would lead the task force’s work.
Governor Bryan has secured Senator Francis’ commitment to cooperate in support of a collaborative approach that draws upon the expertise and perspectives of both the executive and legislative branches. As part of those discussions, Senator Francis recommended Sens. Kurt Vialet, Marvin Blyden and Avery Lewis to participate in the task force’s work.
The proposed executive branch membership also includes Department of Finance Commissioner Kevin McCurdy, Virgin Islands Public Finance Authority Executive Director Nathan Simmonds and Division of Personnel Director Cindy Richardson.
“This is a proactive and timely opportunity for both branches of government to confront a challenge that has been allowed to grow for far too long,” Governor Bryan said.
“These institutions provide essential services, but their accumulated obligations continue to place pressure on the central Government, the Legislature and taxpayers. We have an opportunity to bring the necessary expertise together and develop a responsible path forward.”
Governor Bryan said he expects the task force to move with purpose and discipline once its structure is finalized. While the challenges facing these entities developed over decades and require careful analysis, the governor said the continuing effects of inflation have increased operating costs for public institutions while also placing added financial pressure on Virgin Islands families.
“We are at a point where we have to move swiftly but deliberately,” Governor Bryan said. “The cost of goods, services, equipment, energy and health care continues to rise, and those pressures are being felt by these institutions and by families across the territory. We must do the work carefully, but we must also recognize that delay carries a cost.”
The administration remains in active correspondence with Senate President Milton E. Potter regarding the Legislature’s institutional engagement in the initiative and welcomes continued support as the proposed structure is finalized.
The Financial Solutions Task Force is envisioned as a collaborative advisory body convened by the governor to provide a structured forum for executive officials and participating senators to exchange expertise and develop policy and financing recommendations.
It is not being proposed as a standing, special or select committee of the 36th Legislature. Any recommendations requiring legislative action would be submitted for consideration through the Legislature’s established procedures.
“Our objective is not to create another layer of government or a committee that produces discussion without results,” Governor Bryan said. “We are bringing together individuals with the financial knowledge, legislative experience, institutional understanding and people-centered approach necessary to develop practical solutions to a problem that has persisted for decades.”
The initiative follows a June 25 meeting between Governor Bryan, Lieutenant Governor Tregenza A. Roach and members of the 36th Legislature at Government House on St. Thomas.
During that meeting, the governor presented lawmakers with a proposal to explore bond financing as a means of addressing legacy obligations affecting critical semiautonomous entities, instrumentalities and component units, including the Territory’s hospitals and health care centers, VIWMA and WAPA.
The proposed task force would build upon those discussions by evaluating potential bond-financing structures, reviewing the operating models of the affected entities and examining their expenses, administrative costs and revenue sources.
The task force’s work would be deliberate and comprehensive, recognizing that any viable solution must address both the accumulated obligations and the underlying financial and operational conditions that contributed to them.
Any recommended financial relief would be accompanied by stronger oversight, effective cost controls and structural reforms designed to prevent the same obligations from accumulating again.
“This cannot simply be an exercise in refinancing debt,” Bryan said. “We must also correct the conditions that allowed these obligations to grow. Public support must come with public accountability, and every entity receiving taxpayer assistance must demonstrate that its resources are being managed responsibly.”
The territory’s hospitals and health care centers continue to absorb uncompensated-care costs from treating uninsured and underinsured patients who cannot afford to pay. VIWMA is moving forward with solid-waste fees intended to strengthen its revenue base, while WAPA continues restructuring efforts aimed at improving efficiency and financial stability.
The task force would also examine executive compensation, administrative expenses and other operating costs as part of its broader review.
“Our hospitals and health care centers cannot continue carrying uncompensated-care costs without a workable solution, and VIWMA and WAPA cannot continue returning to the central Government and the Legislature for repeated emergency support,” Bryan said. “We must address the debt while also placing these institutions on a more disciplined and sustainable footing.”
Once its structure and membership are finalized, the task force would develop financing options and recommendations for structural reform for consideration by the governor and the Legislature. Its objectives would be to reduce long-term debt, protect essential services, strengthen financial oversight and limit recurring demands on taxpayers.
“These challenges did not develop overnight, and they will not disappear on their own,” Bryan said. “My administration is taking the initiative, actively engaging our legislative partners and pursuing a collaborative solution that protects essential services and strengthens the financial future of the Virgin Islands. We will move responsibly, but we will also move with the urgency the present moment demands.”
