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(a) The Governor shall formulate the program and financial plan to be recommended to the Legislature after considering the proposed program and financial plans, and other programs and alternatives that he deems appropriate. The plan shall include his recommended goals and policies, recommended plans to implement the goals and policies, recommended budget for the succeeding fiscal year, and recommended revenue measures to support the budget.
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(b) The Governor shall present the proposed comprehensive program and financial plan in a message to the Legislature on or before May 30, prior to each fiscal year. The message shall be accompanied by an explanatory report which summarizes recommended goals, plans and appropriations, and the certifications submitted to the Director of the Office of Management and Budget in accordance with section 23, subsection (a), paragraph (7) of this chapter. The explanatory report shall be furnished each member of the Legislature and the head of each department and agency of the Government on or before May 30. The report shall contain the following information:
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(1) The coordinated program goals and objectives that the Governor recommends to guide the decisions on the proposed program plans and budget appropriations.
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(2) The program and budget recommendations of the Governor for the succeeding fiscal year.
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(3) A summary of receipts in the fiscal year, a revised estimate for the current fiscal year, and an estimate for the succeeding fiscal year.
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(4) A summary of expenditures during the last fiscal year, those estimated for the current fiscal year, and those recommended by the Governor for the succeeding fiscal year; and
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(5) Any additional information which will facilitate understanding of the Governor’s proposed program and financial plan by the Legislature and the public.
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(6) A report on the debt position of the Government of the Virgin Islands, which includes the extent of all debt obligations of the Government, and of all agencies, departments, and other instrumentalities of the Government, the anticipated debt service for each obligation in the succeeding fiscal year, and the authorized or proposed source of funding for these payments.
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(7) A report on the amount of funds deposited into all trusts and funds established for specific purposes, which do not require an appropriation in order to be expended for authorized purposes, during the last fiscal year, an estimate of the amount of such funds expected to be deposited during the current fiscal year, and an estimate of such funds for the succeeding fiscal year. The report shall include the balance of unexpended funds remaining at the end of the last fiscal year, and estimated to remain at the end of the succeeding fiscal year.
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(c) After delivery of the Governor’s message, the bills incorporating his recommendations shall be submitted to the Legislature, but not later than May 30.