UNIVERSITY OF THE VIRGIN ISLANDS

BUDGET RESOLUTION

FISCAL YEAR 2007-2008



Authorizing the FY 2008 appropriation request for operating, debt service and other

mandated programs.



WHEREAS, the University received communication dated January 23, 2007 from the

Office of Management and Budget (OMB) of the Government wherein OMB issued the

Fiscal Year 2008 Budget Call. OMB advised the University of its General Fund

Expenditure Ceiling of $34,000,000, based on projected revenues for Fiscal Year 2008

for the Government of the Virgin Islands; and



WHEREAS, the Virgin Islands Government appropriation to the University for FY 2007

was as follows:



Regular Operating Appropriation. ...:..........:seeseeeeeeeeeee sees $29,219,056

Debt Service Appropriation .................cscrserssessssecessensseeeseeseensseeons 3,192,205

IRE SPAAN EAR A OTN c 6s 44 ss sano ssesiisesso.scecveseveeecdnoveesestocen ua diamieneeeyseeeeecearay 184,243

SE TONE TUUIOR ..:..............-...occecnnestacssaeephesninemaneRenraaennvenssenell 37;:773

SBDC Appropriation .....................ssesescscsssensersnesersesegessonsensscnseessenss 300,000

TSateer itl ATE? VUITIOM +: «:0s0s0s0s.-.---0ssaadeeesnedseeseccvsasensanunee tae menaronees 176,723

Valedictorian and Salutatorian Scholarships ...........::ccccscesseeereeseeeees 240,000

PGA eRe er (CH Fr Al AA WOLUS...........ccsssonnceuasoarearducansnenmniginesrs<ossieer 250,000

Community Engagement & Lifelong Learning (CELL) ................. 100,000

Te as cisshsvdkecanstacesssrnesovespsdeossesvnesssbeasoeenno0e3@enes@i tee EamamnneerEeS $33,700,000



WHEREAS, that level of appropriation enabled the University to fund the following:



(a) The cost of employee salaries and benefits, books, equipment, contracted

services, incidental expenses and other expenses related to the operations of

the University; and



(b) The cost to provide legislatively mandated programs for veterans, senior

citizens, the National Guard, valedictorians, salutatorians, academic and

cultural awards endowments, SBDC local match and CELL; and



WHEREAS, a modest provision of $1,164,280 to offset costs for more pressing

equipment replacement needs and incidents of plant deterioration which have been

minimally addressed over the last few years.



FY 2008 Budget Resolution

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