OMB neared completion of FY 2025 executive budget after May 7 revenue conference

The Office of Management and Budget said on May 20 that it was completing the Fiscal Year 2025 recommended executive budget following the Spring Revenue Estimating Conference held on May 7.

OMB said it was also conducting the midyear review of the Fiscal Year 2024 budget required under Title 2, Chapter 2, Section 22 of the Virgin Islands Code to compare budgeted amounts with actual revenue collections.

The office said it would report the review findings to the Legislature's Committee on Finance and the Post Audit Division within the one-month deadline set after the revenue estimating conference.

OMB Director Jenifer O'Neal and other members of the governor's financial team were working to align FY 2024 budget projections with actual financial data as part of preparation of the FY 2025 fiscal plan.

The financial team was scheduled to present an overview of the FY 2025 budget on June 4, 2024.

Official source: https://www.vi.gov/office-of-management-and-budget-nears-completion-of-fy-2025-executive-budget-2/