Connect with WINN FM

Unit C24, The Sands Complex
Newtown Bay Road, Basseterre, St. Kitts, W.I.

Public finance director outlines USVI debt obligations

USVI (Caribbean News Now): Public Finance Authority executive director Angel Dawson presented on Thursday an overview of the US Virgin Island’s public debt and the Authority’s operations in the current fiscal year to the Legislature’s Finance Committee. 

Dawson, however, did not present a proposed budget for the autonomous public corporation that aids the US Virgin Islands government in meeting its fiscal obligations and raising capital for essential public projects. The Public Finance Authority board typically meets in August to consider and approve the upcoming fiscal year budget, one not provided through the General Fund.  For guidance, however, the Authority’s 2013 operating budget was $6.2 million -- a $900,000 reduction from the previous fiscal year, Dawson told the committee members. Approving an annual administrative budget is a requirement of the PFA’s bond indenture agreements as a means to assure compliance with all covenants entered into with its bondholders.

Read full story here...

Add comment


Security code
Refresh


Top Local Stories





LISTEN AGAIN

 - WINN FM Evening News - 27th July, 2014

Click below to hear full item

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

- Inside the News Saturday 26th July, 2014

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

- The Bigger Picture with Ken Richards 27th July, 2014

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

-The Operating Room 22nd July, 2014

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

-Commentary - Sonia Boddie: Remember Yesterday,Dream For Tomorrow, Live For Today

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.