§ 30. Fiscal year established
The fiscal year of the Government of the Virgin Islands shall commence October 1 and end September 30.
§ 31. Effectiveness of appropriation
An appropriation enacted with the words “such sums shall remain available until expended”, or similar language is effective for only five years after its enactment date, after which time the appropriation lapses automatically.
§ 25. Legislative review
The Legislature shall consider the Governor’s proposed comprehensive program and financial plan; evaluate alternatives to the Governor’s recommendations; and determine the comprehensive program and financial plan to support the services to be provided the citizens of the Virgin Islands, provided, however, that in such determination authorized expenditures shall not exceed estimated receipts and surpluses.
§ 26. Program execution
(a) Except as limited by policy decisions of the Governor, appropriations by the Legislature, and other provisions of law, the several departments and agencies of the Government shall have full authority for administering their program service assignments and shall be responsible for their proper management. (b) Each department and agency, other than the Legislature and […]
§ 27. Performance reporting
(a) Each department and agency, other than the Legislature and the courts, shall submit a performance report to (i) the Director of the Office of Management and Budget and the Finance Committee of the Legislature on or before October 30, for preceding fiscal year and (ii) to the members of the Legislature on a quarterly […]
§ 28. Executive Appropriation Act
(a) The annual appropriation act to provide appropriations for salaries and expenditures of the Government of the United States Virgin Islands for each fiscal year beginning October 1 and ending September 30, shall be known as the “Executive Appropriation Act”. The Act shall include, as appropriations by the Legislature, amounts for programs and salaries to […]
§ 29. Grant recipients; financial disclosure
(a) Notwithstanding any other provision of law, all recipients of grants of funds from the Treasury of the Virgin Islands for whatever purpose, but excluding scholarship grants, shall submit to the Governor and the Committee on Finance of the Legislature within six (6) months from the effective date of said appropriation, or whenever at least […]
§ 20. Responsibilities of the Governor
The governor shall direct the preparation and administration of the budget. He shall evaluate the long-range program plans, requested budgets and alternatives to department and agency policies and programs; and formulate, and recommend for consideration by the Legislature, a proposed comprehensive program and financial plan which shall cover all estimated receipts and expenditures of the […]
§ 20a. Legislative findings
The Legislature of the Virgin Islands hereby finds and declares that in order for the Government of the United States Virgin Islands and other governmental units and authorities within the Virgin Islands to issue private activity bonds, the interest on which is exempt from U.S. federal income tax under the provisions of section 103 of […]
§ 20b. Definitions
For the purposes of this section and sections 20a and 20c of this chapter, unless the context requires otherwise, the following words shall have the meanings set forth in this section: (a) The term “Internal Revenue Code” shall mean the United States Internal Revenue Code of 1986, as amended. (b) The term “private activity bond” […]