MARCH 21, 2025
2025 SPRING
REVENUE ESTIMATING 
CONFERENCE
MARCH 21, 2025
Department Of
Tourism
PRESENTED BY: Alani Henneman
•Economy & Travel Outlook
•Airlift
•Accommodations
•Cruise
•STR
•Revenue
•Tax Revenue
Agenda
2026 Economy and Travel 
Outlook
Economy will remain solid in 2026.
Source: Oxford Economics November 2024 forecast
Leisure travel 
intentions remain 
strong among 
higher-income 
households
Source: MMGY Portrait of American Travelers; 
Tourism Economics Symphony 
Fundamentals are solid.
“Consumers are continuing to prioritize
premium experiences, and our core
customer base is in a healthy financial
position with travel remaining a top
spend category.”
Delta earnings call (Oct 10, 2024)
“We continue to see a very positive sentiment
from our customer in a macro environment
that favors growing demand for experiences
and vacations. American households are
wealthier than ever with continued wage
growth and low unemployment driving strong
consumer spending.”
Royal Caribbean earnings call (Oct 29, 2024)
Potential policy impacts: inbound travel
Category
Examples with less impact to travel
Examples with greater impact to travel
Visa 
impediments
• Slower visa processing, reduced consulate staff, 
increased scrutiny on some origins
• Greater visa impediments, such as extended processing 
times, caps on the number of visas issued, country-
specific travel bans
Immigration
• Rhetoric and publicized examples of immigration 
enforcement
• Minimal impact to travel, with some hesitancy 
by travelers from certain origins (Mexico and 
Latin America, Middle East)
• More concern that rules could change, mistakes could 
happen, greater level of uncertainty
• Some potential travelers across the globe hesitate 
and/or book alternative destinations
Trade war 
response
• Foreign government tones generally discouraging 
travel to US
• Tit-for-tat responses by foreign governments, such as 
restrictions on group travel to US, restrictions or 
impediments on leisure travel
Drivers & Headwinds
Domestic Business
+
Lower interest rates
+
Expansionary fiscal 
policy
+
Tax cut extensions
-
Potential inflation from 
tariffs
-
Immigration restrictions
Domestic Leisure
+
Real income growth
+
Solid balance sheets
+
Modest inflation
+
Tax cut extensions
-
Softening labor market
-
Potential equity market 
correction 
International
+
Pent up demand
+
Reduced visa wait times
+
Outbound plateau
-
Dollar strength
-
Travel restrictions
-
Trade war response
-
Visa processing risk 
-
Sentiment effects
2026 U.S. Virgin Islands Outlook
Post COVID, the U.S. Virgin Islands has seen significant increase in airlifts to the
destination. There is a projected 1.7 percent rise in non-stop flights from the U.S. in
2025 compared to 2024, a 20 percent increase when compared to 2023
STT is projected to have the same seat capacity in 2025 as 2024. STX has a projected
increase of 20.2% compared to 2024. Compared to 2023 STT is up 18.4% and STX
is up 56.5%
Data represents Continental US Origin Markets
2025 = January - August
Air Capacity & Visitors
Air Arrivals – Continental U.S.
Destination
2023
2024
Change
St. 
Thomas/St. 
John
618,820
722,321
17%
St. Croix
163,202
186,400
14%
USVI
782,022
908,721
16%
Destination
Feb 2024 YTD Feb 2025 YTD
Change
St. 
Thomas/St. 
John
140,630
137,907
-2%
St. Croix
40,518
39,362
-3%
USVI
181,148
177,269
-2%
Source: BER
2025 - Internal Dept of Tourism data
2024 exceeded all historic air-arrivals and was a record-breaking year!
Regional Flights Breakdown
Source: Air STATS January 2025
Winter = December – March; Summer = May - August
Regional 
Aircraft - STT
Weekly Flights
Seats
Winter 2024-25
166
2,272
Summer 2025
158
2,167
Regional 
Aircraft - STX
Weekly Flights
Seats
Winter 2024-25
112
2,016
Summer 2025
95
1,603
The regional aircraft Seats/Flights have increased from Winter 2023-24 and Summer 2024.
Weekly Flights/Seat – Continental U.S.  
Source: Air STATS January 2025
Winter = December – March; Summer = May - August
Time Period
Weekly Flights 
Territory-Wide
Seats
Summer 2023
106
17,360
Winter 2023-24
164
26,908
Summer 2024
134
22,951
Winter 2024-25
153
25,659
Destination
Forecasted
Weekly Flights
Seats
St. Thomas - Summer 
2025
117
18,706
St. Croix - Summer 2025
23
4,148
All Accommodations 2024
Type
St. Croix
St. Thomas / St. John
Estimated Total 
Accommodations
Hotel/Resort Rooms
1,000
2,286
3,286
Villa
300
600
900
Charter Yachts
250+
250+
Timeshares
1,022
1,022
Airbnb/VRBO, etc.
1,190
4,579
5,769
●Hampton by Hilton – St. Thomas
○126 rooms (2025)
●Hotel on the Key – St. Croix
○78 rooms (2026)
●Hibiscus Hotel – St. Croix
○100 rooms (2025-2027)
●Sugar Bay – St. Thomas
○300 rooms (TBD)
●Hotel 1829- St. Thomas
○6 rooms (currently available); 11 rooms (2026)
●Lovango- St. John
○10 cottages (2025)
●Total New Rooms in St. Croix = 178
●Total New Rooms in St Thomas/ St John = 453
Hotel Development
Sharing Economy
Time Period 
Revenue 
February 
Revenue Last 
12 Months
2023
$31,539,065
$337,029,716
2024
$36,582,528
$319,416,225
2025
$39,204,669
$358,338,165
Time 
Period
Supply Nights / 
Demand Nights
– February 
Supply Nights / 
Demand Nights
– Last 12 Months
2023
97,764/68,983
1,275,901/ 750,108
2024
113,804/84,745
1,308,839/737,665
2025
116,060/82,747
1,418,386/826,990
Source: AirDNA Trend Report Feb 2025
●Cruise ship passenger volumes for 2025 is expected to exceed 2024 
levels for the USVI.
●Cruise passengers increased by 90,000 territory wide in 2024.
●Projected passengers for 2025 is 1.8 million:
○WICO: 980,000 Passengers
○Crown Bay: 580,000 Passengers
○AAMF: 200,000 Passengers
●Preliminary projected passengers for 2026 is 1.9 million
Cruise STT and STX
Source: BER, VIPA, WICO
Cruise STT and STX 2024
Source: BER, VIPA, WICO
Destination
Port
Calls / Passenger 
Numbers
St. Thomas / St. John
Crown Bay
211 / 542,071
WICO
284 / 988,862
St. Croix
AAMF
71 / 169,228
Total Cruise 
Passengers for 2023
1,700,161
v
STR Data YTD 2024 vs. 2023
Source: STR data March 2025
ADR is $744 (2024)
v
USVI Media Performance 
v
ADR Up for USVI
Hotel Tax Revenue Collected YTD & FY
Source: USVI Bureau of Internal Revenue
Time Period
Revenue Collected
FEBRUARY YTD FY 
2023
$13,354,061
FEBRUARY YTD FY 
2024
$16,687,097
FEBRUARY YTD FY 
2025
$16,941,557
Time Period
Revenue Collected
FISCAL YEAR 2023
$42,193,979
FISCAL YEAR 2024
$51,201,594
FISCAL YEAR 2025 
– Projected
$49,000,000
Industry Projected Growth:
●Projected growth rate of 2% for FY 2025
●Projected growth rate of 4% for FY 2026
Projected Collections:
●2024 Hotel Room Tax Collection: $48,798,137
●2025 Hotel Room Tax Collection: $50,750,063
Tax Revenue Estimate Snapshot
THANK
YOU
MARCH 21, 2025
USVI BUREAU OF 
ECONOMIC RESEARCH
PRESENTED BY: MS. BERNESHA LIBURD 
PRESENTED BY: BERNESHA LIBURD
PRESENTATION CONTENTS
Data is subject to 
i i
01
GDP
02
VISITOR 
ARRIVALS
03
ACCOMODATIONS
04
ECONOMIC 
INDICATORS
05
CONSUMER 
PRICE
INDEX
07
CONTACT
08
QUESTIONS
06
FY 2026 
PROJECTIONS
USVI ECONOMY 2025
Data is subject to 
i i
USVI ECONOMY 2025
Expanding tourism sector, a recovering labor market, enhancements in 
infrastructure, and significant business investments.
Year-to-date, most economic indicators demonstrate a commendable level of 
sustainability. 
Recognizing the potential challenges posed by global and geopolitical 
uncertainties is essential.
PRESENTED BY: BERNESHA LIBURD
0
1
Let’s discuss
USVI Gross Domestic Product (GDP)
The Bureau of Economic Analysis (BEA), in collaboration with the Bureau of 
Economic Research (BER). 
For 2024, the United States’ GDP is up 2.8% from the previous year. 
Data is subject to 
revision.
PRESENTED BY: BERNESHA LIBURD
Data is subject to 
revision.
USVI REAL GDP 
FROM 2014-2022
2014
2015
2016
2017
2018r
2019r
2020r
2021r
2022p
Annual % change. -1.8%
-0.4%
1.6%
-0.7%
1.9%
2.9%
-1.6%
3.7%
-1.3%
-1.3%
-2.5%
-1.5%
-0.5%
0.5%
1.5%
2.5%
3.5%
PRESENTED BY: BERNESHA LIBURD
Data is subject to 
i i
UPDATE ON USVI GDP PAUSE
A 2024 report from the Government Accountability Office (GAO) found 
that nearly 90% of U.S. federal statistics exclude the U.S. Virgin Islands 
(USVI). 
The Office of Insular Affairs (OIA) Technical Assistance Program (TAP) has 
been used to fill data gaps, such as the USVI GDP, but it competes with 
many other priorities.
In 2024, OIA received over $100 million in requests for only $22 million 
available for TAP.
PRESENTED BY: BERNESHA LIBURD
Data is subject to 
revision.
0
2
Let’s discuss
USVI Visitor Arrivals
This section provides an overview of visitors to the U.S. Virgin Islands, including 
Cruise and Air arrivals. 
Data is subject to 
revision.
TOTAL VISITOR ARRIVALS 
FISCAL YEARS 2019 TO JANUARY 2025 YTD
FY 2019
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2024
FY 2025
Jan.
YTD
Jan.
YTD
Air Visitor Arrivals
637,876
187,750
826,823
800,069
756,947
902,425
282,416
285,817
Cruise Visitor Arrivals 1,480,932 442,027
245,695 1,021,1821,594,7961,656,281 581,688
622,134
Total Visitor Arrivals
2,118,808 629,777 1,072,5181,821,2512,351,7432,558,706 864,104
907,951
100,000
600,000
1,100,000
1,600,000
2,100,000
2,600,000
TOTAL VISITOR ARRIVALS FORECAST
FY 2022 – FY 2026F
Data is subject to 
revision.
2022
2023
2024
2025
2026
TOTAL
1,821,251
2,351,743
2,558,706
Forecast(TOTAL)
2,969,233
3,350,789
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
TOTAL
Forecast(TOTAL)
AIR ARRIVALS FORECAST
FY 2022 – FY 2026F
Data is subject to 
revision.
2022
2023
2024
2025
2026
Air
800,069
756,947
902,425
Forecast(air)
929,236
972,936
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
CRUISE ARRIVALS FORECAST
FY 2022 – FY 2026F 
Data is subject to 
revision.
2022
2023
2024
2025
2026
Cruise
1,021,182
1,594,796
1,656,281
Forecast(FY25-26)
2,039,997
2,377,852
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
Cruise
Forecast(FY25-26)
AIR VISITORS
8.1% of U.S. air 
visitors came 
from New York.
$3,459
Average Hotel 
expenditure per party
Yacht
14%
Villa
7.3%
Friend/ relative
10.1%
Airbnb / Verbo
22.1%
Hotels
$250K+ 
Annual household 
income per party. 
40% 
Air visitors
travel on 
American Airlines. 
CRUISE VISITORS
5.7%
7.1%
7.4%
10.1%
Voyager of the Seas
12.1%
Symphony of the Seas
40.1%
Travel with spouse 
or partner only.
47.3%
Cruise visitors
travel on 
Royal Caribbean.
$100K-$149K 
Annual household 
income per party. 
38.3% of all foreign 
air visitors came 
from Canada.
39.6%
Accommodations
16.7% of U.S. 
cruise visitors 
came from Florida.
53.7% of all foreign 
Cruise visitors came 
from Canada.
USVI VISITOR EXIT SURVEY VISITOR DEMOGRAPHICS
2022-2023 AIR & CRUISE 
Data is subject to revision.
Frequent Cruise Vessels to the USVI
Norwegian Escape
Millennium
Celebrity Silhouette
PRESENTED BY: BERNESHA LIBURD
Data is subject to 
revision.
0
3
Let’s discuss
USVI Accommodation Establishments
This section provides an overview of visitor accommodations.
Hotel rates reflect occupancy levels based on accommodations that report to the Bureau of 
Economic Research.
PRESENTED BY: BERNESHA LIBURD
ACCOMMODATION OCCUPANCY RATES   
OCTOBER 2023 to JANUARY 2025
Data is subject to 
revision.
45.5%
56.1%
62.4%
76.6%77.6%80.8%
64.9%66.5%63.9%64.2%
51.2%
38.4%41.9%
48.8%
62.8%62.0%
HOTEL TAX REVENUES FORECAST
FY 2022 – FY 2026F 
Data is subject to 
revision.
2021
2022
2023
2024
2025
2026
FY
FY
FY
FY
FY
FORCAST
FY
FORCAST
REVENUE
$33,601,807
$36,340,959
$26,743,955
$33,169,281
FORCAST
$33,670,570
$32,084,732
 $-
 $5,000,000
 $10,000,000
 $15,000,000
 $20,000,000
 $25,000,000
 $30,000,000
 $35,000,000
 $40,000,000
PRESENTED BY: BERNESHA LIBURD
Data is subject to 
i i
0
4
Let’s discuss
USVI Economic Indicators
There are three categories of Building Permits: 
• Private Residential (PR)
• Private Non-Residential (PNR)
• Public Building Permits (PUB). 
There are two categories for the Labor Market.
• Unemployment Rate 
• Civilian Workforce 
PRESENTED BY: BERNESHA LIBURD
Data is subject to 
revision.
BUILDING PERMITS 
BY VALUE($) FISCAL YEARS 2019 TO JANUARY 2025 YTD
FY 2019
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2024
FY 2025
YTD JAN
YTD JAN
Total
$345,667
$234,777
$386,300
$216,858
$310,751
$254,683
$95,671
$57,462
PR
$221,257
$162,883
$208,344
$154,377
$168,529
$185,525
$69,368
$50,723
PNR
$29,021
$37,419
$62,756
$27,913
$85,262
$44,317
$17,035
$6,085
PUB
$95,389
$50,965
$115,199
$34,568
$56,961
$24,841
$9,268
$654
 $-
 $40,000
 $80,000
 $120,000
 $160,000
 $200,000
 $240,000
 $280,000
 $320,000
 $360,000
 $400,000
 $440,000
($) Thousands
Data is subject to 
revision.
UNEMPLOYMENT RATE
FISCAL YEARS 2022 TO December FY2025 YTD and FY2026 FORECAST
2022
2023
2024
2025
2026
Unemployment Rate
4.7
3.6
3.4
3.5
Forecast(FY26)
3.0
1
1.5
2
2.5
3
3.5
4
4.5
5
FY2025 
DEC 
YTD
Data is subject to 
revision.
CIVILIAN WORKFORCE 
FISCAL YEARS 2022 TO December 2025 YTD and FY2026 FORECAST
FY2025 
DEC 
YTD
2022
2023
2024
2025
2026
EMPLOYMENT
41,324
39,701
39,422
40,001
Forecast(EMPLOYMENT)
39,346
36,000
37,000
38,000
39,000
40,000
41,000
42,000
FY
FY                                    FY                                     FY                                    FY 
PRESENTED BY: BERNESHA LIBURD
Data is subject to 
i i
0
5
Let’s discuss
USVI Consumer Price Index
According to the Bureau of Labor Statistics (BLS), consumer prices in the 
United States increased by 4.0% in the year 2024.
PRESENTED BY: BERNESHA LIBURD
CONSUMER PRICE INDEX 
INFLATION RATES (%) 2018 - 2024
Data is subject to 
revision.
2018
6.4%
2019
3.8%
2020
5.7%
2021
8.6%
2022
9.8%
2023
8.4%
2024
6.4%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
2018
2019
2020
2021
2022
2023
2024
Contact Us:
OFFICE OF THE GOVERNOR
BUREAU OF ECONOMIC RESEARCH
Data is subject to revision.
Phone: 340-693-4375
Website: www.usviber.org  
Email: berdata@ber.vi.gov
THANK YOU!
Any questions?
MARCH 21, 2025
Department 
Of
Licensing &
Consumer Affairs
PRESENTED BY: H. Nathalie Hodge - Commissioner
REVENUE BREAKDOWN
Revenue Category 
Project Count (If Applicable)
Revenue Estimate
Fiscal Year 
Business License & Boards 
Fees
4,708,582.24
2025
Penalty Fees
685,164.40
2025
Business License & Boards 
Fees
4,854,548.29
2026
Penalty Fees
706,404.49
2026
Fiscal 2026 Total Estimated Revenue
Key Revenue Drivers and Assumptions
FY: 25
$5,393,746.64
Highlight 1: Business Compliance and License Renewals
Highlight 2: Regulatory Enforcement and Penalty Fees
FY 26
$5,560,952.78
Highlight 3: Economic Growth and Business Expansion
Highlight 4: Department Policy and Fee Adjustments
Objectives
1. Improve Compliance
2.
Collection Efforts
3.
Licensing
4.
Optimize Payment
•
Increase
awareness
through
targeted
outreach
campaigns to educate businesses on renewal deadlines
and the consequences of non-compliance.
•
Strengthen monitoring and follow-up processes to
ensure businesses renew on time, reducing revenue loss
from lapsed licenses.
•
Enhance reminders via email, text, and direct mail to
enhance compliance rates.
•
Strengthen enforcement of licensing violations to 
ensure penalties are issued consistently and fairly.
•
Improve collection strategies by making it easier for 
businesses to pay fines, including offering online 
payment options and structured payment plans.
•
Conduct regular compliance audits and increase field 
inspections to identify unlicensed businesses and 
enforce penalties accordingly.
•
Streamline the business and professional license  
registration process to encourage more entrepreneurs to 
obtain and maintain licenses.
•
Simplify the online application system to reduce 
processing times and improve customer satisfaction.
•
Promote economic growth by working with business 
development agencies to attract new businesses to the 
territory.
•
Evaluate the current fee structure to ensure it aligns 
with economic conditions and provides sustainable 
revenue growth.
•
Optimize payment options to include mobile payments, 
and in-person kiosks to make compliance more 
convenient.
•
Encourage timely payments.
Analysis
1.
Steady Growth Trend
•
The total revenue has increased each year,
showing a consistent upward trend.
2.
Stabilization After FY 2022
•
The revenue increase slowed after FY 2022, with
marginal growth in FY 2023 (0.5%) and FY 2024
(0.8%).
Analysis
3.
Impact of External Factors
•
The growth in FY 2022 may have been 
influenced by post-pandemic economic recovery, 
as businesses resumed normal operations.
4.
Projected Growth Moving Forward
•
The average annual growth rate across these
years is 3.1%.
THANK
YOU
MARCH 21, 2025
Virgin Islands
Bureau of Internal 
Revenue
PRESENTED BY: LE’TISHMA SMITH, CPA, CFE – Deputy Director
To administer and enforce the tax laws of the Virgin Islands.
Our Mission and Strategic Objectives
Strategic Goals
• To promote voluntary compliance with the   
internal revenue tax laws
• To collect the tax revenues owed to the 
Government of the Virgin Islands.
Mission Statement
GENERAL FUND
• INCOME TAX
• INDIVIDUAL
• CORPORATE
• GROSS RECEIPTS TAX
• EXCISE  TAX
• ENVIRONMENTAL INFRASTRUCTURE IMPACT FEE
GENERAL FUND
• CONTAINER TAX
• $50 (up to 39 feet)/$100 (40 feet or more) per container
• TIRE TAX
• $1 (18 inches or under)/$2 (over 18 inches) on every tire 
purchased
• ENTERTAINMENT TAX
• 5% of gross receipts
• FRANCHISE TAX
• 5% of franchise gross subscriber receipts (quarterly)
SPECIAL FUND
SPECIAL FUND
• VEHICLE RENTAL SURCHARGE 
$3.75 per day of car rental
$5.00 per day effective February 1, 2025
• CASINO TAX 
8% - 12% on gross revenue from Casino
• RACINO TAX
Annual rate of 19.25% of gross revenues
GENERAL FUND COLLECTIONS
(Fiscal Years 2022 - 2026)
TAX CATEGORIES
 FY 2022               
ACTUAL 
 FY 2023              
ACTUAL 
 FY 2024              
ACTUAL 
 FY 2025               
PROJECTION 
 FY 2026                 
PROJECTION 
INCOME
Individual - Income
78,481,569.32
$     
108,810,602.73
$  
80,179,792.98
$    
105,914,578.89
$    
90,940,469.00
$        
Estimated Tax
60,935,741.20
$     
60,514,793.90
$    
54,568,680.53
$    
59,117,852.84
$      
59,846,534.00
$        
Withholding Tax
209,308,307.20
$   
199,320,066.49
$  
196,392,617.85
$  
192,449,935.74
$    
197,856,342.00
$      
Extension
108,714,445.96
$   
61,507,296.50
$    
59,499,039.07
$    
60,061,875.03
$      
60,503,168.00
$        
Federal Cover Over
3,905,743.00
$       
7,126,779.00
$      
10,549,442.11
$    
6,959,299.69
$        
5,000,000.00
$          
Sub-total Individual Income
461,345,806.68
$   
437,279,538.62
$  
401,189,572.54
$  
424,503,542.19
$    
414,146,513.00
$      
GENERAL FUND COLLECTIONS
(Fiscal Years 2022 - 2026)
TAX CATEGORIES
 FY 2022               
ACTUAL 
 FY 2023              
ACTUAL 
 FY 2024              
ACTUAL 
 FY 2025               
PROJECTION 
 FY 2026                 
PROJECTION 
CORPORATE   
Corporate - Income
34,202,127.59
$     
14,596,186.02
$    
14,314,058.95
$    
14,265,079.59
$      
14,455,123.00
$        
Estimated
31,960,236.94
$     
29,363,955.00
$    
36,148,190.56
$    
28,671,949.06
$      
32,490,735.00
$        
Extension
43,128,367.06
$     
40,532,336.26
$    
15,212,593.07
$    
39,579,826.36
$      
27,872,465.00
$        
Sub-Total Corporate Income
109,290,731.59
$   
84,492,477.28
$    
65,674,842.58
$    
82,516,855.01
$      
74,818,323.00
$        
Total Income
570,636,538.27
$   
521,772,015.90
$  
466,864,415.12
$  
507,020,397.20
$    
488,964,836.00
$      
GENERAL FUND COLLECTIONS
(Fiscal Years 2022 - 2026)
TAX CATEGORIES
 FY 2022               
ACTUAL 
 FY 2023              
ACTUAL 
 FY 2024              
ACTUAL 
 FY 2025               
PROJECTION 
 FY 2026                 
PROJECTION 
GROSS RECEIPTS
225,844,635.88
$   
211,186,507.83
$  
213,404,040.91
$  
232,230,706.98
$    
234,744,444.91
$      
EXCISE
36,731,421.71
$     
36,677,730.29
$    
36,213,181.44
$    
40,439,004.81
$      
39,834,500.44
$        
ENTERTAINMENT
15,121.81
$            
-
$                      
-
$                      
-
$                       
-
$                          
MISCELLANEOUS
50,455.28
$            
42,607.20
$           
39,753.00
$           
51,554.71
$             
-
$                          
FRANCHISE
799,959.95
$          
668,666.61
$         
664,438.41
$         
809,086.60
$           
666,553.00
$             
ENVIRONMENTAL 
INFRASTRUCTURE IMPACT 
FEE 85%
5,072,847.18
$       
4,508,017.96
$      
4,476,688.20
$      
5,453,776.08
$        
4,685,852.00
$          
Total Other Taxes
268,514,441.81
$   
253,083,529.89
$  
254,798,101.96
$  
278,984,129.17
$    
279,931,350.35
$      
Total General Fund
839,150,980.08
$   
774,855,545.79
$  
721,662,517.08
$  
786,004,526.38
$    
768,896,186.35
$      
SPECIAL FUND COLLECTIONS
(Fiscal Years 2022 - 2026)
TAX CATEGORIES
 FY 2022               
ACTUAL 
 FY 2023              
ACTUAL 
 FY 2024              
ACTUAL 
 FY 2025               
PROJECTION 
 FY 2026                 
PROJECTION 
ARBITRATION DEPOSIT
-
$                       
-
$                      
-
$                      
-
$                       
-
$                          
LONESOME DOVE FUND
3,490,000.00
$       
2,730,000.00
$      
875,000.00
$         
962,500.00
$           
1,010,625.00
$          
FUEL
4,263,834.58
$       
4,216,402.81
$      
4,829,264.01
$      
5,312,190.41
$        
5,577,799.93
$          
HIGHWAY USER'S
4,110,415.12
$       
3,965,685.22
$      
4,009,342.60
$      
4,410,276.86
$        
4,630,790.70
$          
HOTEL
45,664,095.88
$     
40,449,248.38
$    
50,787,995.12
$    
55,866,794.63
$      
58,660,134.36
$        
RACINO
-
$                       
-
$                      
-
$                      
-
$                       
-
$                          
GROSS CASINO
2,342,900.78
$       
2,235,809.61
$      
2,216,528.06
$      
2,438,180.87
$        
2,560,089.91
$          
ENVIRONMENTAL 
INFRASTRUCTURE IMPACT 
FEE 15%
895,208.33
$          
795,532.58
$         
790,003.80
$         
869,004.18
$           
826,915.00
$             
INVESTMENT ALTERNATIVE
141,651.75
$          
148,098.22
$         
96,446.95
$           
106,091.65
$           
111,396.23
$             
VEHICLE RENTAL
2,797,361.71
$       
2,471,132.54
$      
2,730,875.72
$      
3,003,963.29
$        
3,154,163.00
$          
Total Special Fund
63,705,468.15
$     
57,011,909.36
$    
66,335,456.26
$    
72,969,001.89
$      
76,531,914.13
$        
TOTAL
902,856,448.22
$   
831,867,455.15
$  
787,997,973.34
$  
858,973,528.26
$    
845,428,100.48
$      
INCOME TAX REFUNDS PAID
2019-2024
$63,889,250.98 
$49,078,464.45 
$91,164,846.02 
$96,692,284.31
$12,328,590.68
$67,831,351.19 
$0.00
$20,000,000.00
$40,000,000.00
$60,000,000.00
$80,000,000.00
$100,000,000.00
$120,000,000.00
CY 2019
CY 2020
CY 2021
CY 2022
CY 2023
CY 2024
$380,984,787.63 
UP TO FILE DATE APRIL 25, 2023
THANK
YOU
MARCH 21, 2025
OFFICE OF THE 
LIEUTENANT GOVERNOR
PRESENTED BY: BRENT A LEERDAM – TAX COLLECTOR
OFFICE OF TAX COLLECTOR
FY2025 and FY2026 Total Estimated 
Revenue
Revenue Summary
FY2025: 
$64,000,000.00
Highlight 1: FY2025 Collections from Delinquent Accounts - $31,000,000.00
Highlight 2: FY2025 Collections from Current Year Billing - $33,000,000.00
FY2026:
$65,600,000.00
Highlight 3: FY2026 Collections from Delinquent Accounts - $31,000,000.00
Highlight 4: FY2026 Collections from Current Year Billing - $34,600,000.00
REVENUE BREAKDOWN
Revenue Category 
Interval
Est. Revenue
Fiscal Year 
Delinquent Account 
Collections
Occurs All Year
$31,000,000.00
2025
Current Year Collections
June 1 – August 30, 2025
$33,000,000.00
2025
Delinquent Account 
Collections
Occurs All Year
$31,000,000.00
2026
Current Year Collections
June 1 – August 30, 2026
$34,600,000.00
2026
Division of Real Property Tax
Office of the Tax Collector
FISCAL YEAR
DELINQUENT TAX 
COLLECTION
CURRENT YEAR TAX BILLS 
June 1 - Aug. 30 of each FY
TOTALS
FY2026 FORECAST
$31,000,000.00
$34,600,000.00
$65,600,000.00
FY2025 FORECAST
$31,000,000.00
$33,000,000.00
$64,000,000.00
FY2025 Actuals through 02/28/2025
$7,154,561.82
$7,154,561.82
FY2024 FORECAST
$28,000,000.00
$33,000,000.00
$61,000,000.00
FY2024 Actuals
$32,166,843.68
$30,605,032.73
$62,771,876.41
FY2023 FORECAST
$28,000,000.00
$33,000,000.00
$61,000,000.00
FY2023 ACTUALS
$25,258,831.77
$28,642,164.71
$53,900,994.48
FY2022 FORECAST
$25,000,000.00
$33,000,000.00
$58,000,000.00
FY2022 ACTUALS
$28,711,526.36
$29,008,077.50
$57,719,603.86
FY2021 FORECAST
$20,000,000.00
$33,000,000.00
$53,000,000.00
FY2021 ACTUALS
$29,255,393.47
$25,119,610.63
$54,375,004.10
REAL PROPERTY TAX FORECAST & ACTUALS
OFFICE OF THE LIEUTENANT GOVERNOR
DIVISION OF REAL PROPERTY TAX
OFFICE OF THE TAX COLLECTOR
OFFICE OF THE TAX COLLECTOR
$53M
$58M
$61M
$61M
$64M
$5.3M
$11.3M
$6.6M
$11.8M
$7.2M
$54.4M
$57.7M
$54M
$62.8M
$0.00
$10,000,000.00
$20,000,000.00
$30,000,000.00
$40,000,000.00
$50,000,000.00
$60,000,000.00
$70,000,000.00
FY2021
FY2022
FY2023
FY2024
FY2025
ACTUALS TO DATE BY FISCAL YEAR
Projected FY Revenue
Actuals through February
FY Actuals
Town Area
Individual Tax 
Records
Taxes
Penalty
Interest
Sewer Fees
Estimated Total 
Due
St. Thomas
16109
$42,401,144.43
$697,636.58
$9,659,305.89
$4,445,353.07
$57,209,889.87
Christiansted
5478
$13,823,966.15
$135,794.50
$3,110,103.88
$1,726,415.87
$18,883,386.87
St. John
2561
$32,564,557.80
$74,673.87
$4,877,620.13
$55,191.57
$37,572,991.99
Frederiksted
3350
$7,071,646.57
$84,387.42
$1,541,407.48
$1,127,737.60
$9,854,478.75
Water Island
54
$322,399.46
$1,020.00
$72,763.56
$0.00
$396,183.02
Total
27552
$96,183,714.41
$993,512.37
$19,261,200.94 $7,354,698.11 $123,916,930.50
OFFICE OF THE TAX COLLECTOR
DIVISION OF REAL PROPERTY TAX
OFFICE OF THE TAX COLLECTOR
Total Delinquencies By Town Area
OFFICE OF THE LIEUTENANT GOVERNOR 
DIVISION OF REAL PROPERTY TAX 
OFFICE OF THE TAX COLLECTOR 
 
Real Property Tax Collections 
 
• We are working with Department of Finance to enhance payment processes in support of Final Collection Activity refunds and reimbursements 
• OTC will conduct enhanced outreach to help property owners understand the importance of not becoming delinquent on property taxes each year 
o Town Halls, Radio airtime, TV appearances, Brochures 
• Regular Real Property Tax Delinquency Listing in fall of each year, every year 
• We continue to send Bill Notification to the Address of Record for delinquent property owners 
o We encourage property owners that may have changed their mailing address since property was conveyed to them to contact the Office of the Tax 
Assessor to update their mailing address 
o We encourage family and interested parties of deceased property owners, that know of real property that is involved in a probate process, to 
contact the Office of the Tax Collector and provide the Probate Order with real property inventory 
• Real Property Tax Division maintains the Citizen Access Portal, which provides easy, online property tax management access to owners/managers located 
anywhere in the world. https://propertytax.vi.gov 
o We maintain the availability of free online Tax Status Reports, which detail all taxes owed, delineated by tax year 
o Online tax payments continue to be available on the Citizen Access Portal 
o We still encourage the ability of property owners/managers to start and maintain a payment plan online and in-person for delinquent property taxes 
o Any property owner that establishes a payment plan for delinquent property (prior to the publication of a Final Collection Activity List) and maintains 
the payment plan in current payment status, will not be included in Final Collection Activity 
• We are preparing proposed legislation for changes to enhance property tax bill distribution 
• We have accomplished an improved collection record of property tax bills issued during this Administration, for each tax year issued 
 
Tax Year
Amount Billed Year of Billing - From 
June 1 - September 
Next Fiscal Year
Next Fiscal Year
Next Fiscal Year Next Fiscal Year Next Fiscal Year Total Collected To 
Date
Collection 
Percentage Rate
2020
$52,089,652.14
$35,289,472.37
$6,260,313.07
$1,999,244.16
$1,026,015.33
$1,577,747.70
$363,380.10
$46,516,172.73
89
2021
$51,903,324.98
$32,267,111.65
$8,109,855.91
$1,843,408.74
$2,293,464.24
$503,488.23
$45,017,328.77
87
2022
$53,565,984.27
$34,994,631.85
$6,738,087.87
$3,113,068.89
$671,296.01
$45,517,084.62
85
2023
$56,122,770.32
$35,266,078.23
$9,713,243.07
$1,017,309.64
$45,996,630.94
82
2024
$54,261,996.23
$38,192,837.82
$3,323,317.53
$41,516,155.35
77
OFFICE OF THE LIEUTENANT GOVERNOR
DIVISION OF REAL PROPERTY TAX
COLLECTION RATE BY TAX YEAR
OFFICE OF THE TAX COLLECTOR
THANK
YOU
MARCH 21, 2025
OFFICE OF DISASTER 
RECOVERY
PRESENTED BY: ADRIENNE L WILLIAMS – OCTALIAN - DIRECTOR 
Office of Disaster Recovery
Mission
To build a safe, resilient community 
that transforms and strengthens the 
Territory’s infrastructure by building 
robust systems, cultivating 
stakeholder collaboration and 
completing recovery projects to 
better position the community to 
thrive.​
To build a resilient Virgin Islands
Get the Funds
Secure the maximum 
amount of disaster 
recovery funds 
required for the 
Territory to rebuild 
resiliently.
Spend the Funds
Commence and conclude 
projects within the 
required timeframe to 
guarantee timely 
processing of Disaster 
Recovery funds. 
Spend the Funds 
Correctly
Ensure projects executed 
meet all applicable 
programmatic and 
regulatory requirements 
and internal audits are 
conducted. 
Vision
Objectives
Disaster Recovery Funding 
Snapshot
Funding Sources
Obligated
Expended
FEMA PA
$21,311,049,181
$3,187,049,682
HMGP
$199,306,080
$55,164,603
HUD
$1,917,330,880
$336,762,302
DOT
$76,516,873
$64,230,794
Other Funds
$251,360,713
$173,456,822
TOTAL
$23,755,421,979
$3,796,726,715
89%
1%9% 0%
1%
Disaster Recovery 
Obligations PA
HMGP
CDBG-
DR/MIT/E-Grid
Key Recovery Projects
Housing
• EnVIsion Tomorrow 
Infrastructure
• Haypiece Hill Facility
• VIWAPA Undergrounding Projects
Public Buildings
• Charles Seales Fire Station
• Estate Profit Community Center
• VIDA Administration Building
• VIEDA – St. Croix Building
• Estate Profit Community Center
• LGO – Sion Farm Great House
Significant Recovery Projects 
Health & Human Services
• Governor Juan F. Luis Hospital
• Schneider Regional Medical Center
• Charles Harwood Medical Complex
Infrastructure
• St. John Bundle
• St. Croix North Central Horizontal Bundle
Schools
• St. Thomas Educational Bundle
• St. Croix Educational Bundle
• Arthur Richards PK-8 School
• Charlotte Amalie High School
• Bertha C Boschulte School
• St. Croix Central High School
Super PMO Projects
FY 2026 Total Estimated Revenue
Key Revenue Drivers and Assumptions
FY: 26 
Gross Receipt Taxes
$31,425,000
Highlight 1: 5% Gross Receipt Taxes will be remitted from Disaster 
Recovery Projects in varying stages from design to construction
Highlight 2: Over 20 large scales projects will impact FY26 revenue
FY: 26 
Project Expenditures
$628,500,000
Highlight 3 : Projects will generate other residual  revenue in 
licensing, permits, fees and housing 
THANK
YOU
Adrienne L. Williams-Octalien
Director of the Office of Disaster Recovery &​
Governor’s Authorized Representative (GAR)
Phone: (340)220-1221​
Email: info@usviodr.com
@ODRUSVI
Website
www.usviodr.com
Instagram
@USVIODR
Facebook
Youtube
@USVIODR
Twitter X
@USVIODR
LinkedIn
@USVIODR
Introduction 
.
The primary role of the Territorial Hospital Redevelopment Team (THRT) is to plan, design and manage the construction, procurement and closeout of various
healthcare facility projects across the Territory. This includes the Governor Juan F. Luis Hospital, the Roy L. Schneider Hospital, the Myrah Keating Smith Community
Health Center, the Charlotte Kimelman Cancer Institute and other disaster related construction projects in an amount that exceeds 2.4 billion dollars over ten years. The
projected GRT over the ten-year span is estimated to be equivalent to approximately $120,000,000.00. As such, the THRT derives indirect revenues to the Government
of the Virgin Islands (GVI) via the collection of GRT from all vendors whom we conduct business with. To date the THRT has completed or is in the process of completing
more than $101,185,469.52 in projects over a four-year span which shall have contributed in excess of $5,059,273.48 in Gross Receipts for the Territory.
We will share an overview of the strategies and methodologies that we utilized in our revenue generation initiatives for FY26. Our assumptions are derived from project
durations, mid-points of construction and our anticipated project expenditures throughout the life cycle of the various construction projects. Coupled with our FY25
actuals, we are able to forecast to some degree the projected expenditures and derive anticipated GRT for our future projects over the next 5-7 Fiscal Years.
Key item to be covered:
•
Revenue Generating Projects: An outline of the major projects driving our GRT, including both existing and new projects that will illustrate the potential revenues to
be realized during each fiscal year.
Current THRT Projects 
Market Analysis
Anticipated Project Expenditures By Fiscal Year 
Fiscal Year 
RLSH Permanent  
JFLH Permanent  
MKS Permanent  
FY26 
$    26,666,640.00 
$    33,355,898.97 
$     1,000,000.00 
FY27 
$  126,666,600.00 
$    79,222,260.05 
$     7,000,000.00 
FY28 
$  206,666,600.00 
$  175,118,469.58 
$     9,000,000.00 
FY29 
$  142,855,960.00 
$  241,830,267.51 
$     6,000,000.00 
FY30 
$    68,560,000.00 
$  175,118,469.58 
$     4,000,000.00 
FY31 
$    45,712,000.00 
$    79,220,260.05 
FY32 
$    50,033,848.45 
Mid-Point of Construction 
Market Analysis
Anticipated Project GRT By Fiscal Year
Fiscal Year  
MKS  GRT
RLSH  GRT
JFLH GRT
FY26
$        400,000.00 
$   1,333,332.00 
$        1,667,794.95 
FY27
$        450,000.00 
$   6,333,330.00 
$        3,961,013.00 
FY28
$        300,000.00 
$ 10,333,330.00 
$        8,755,923.48 
FY29
$        200,000.00 
$   7,142,798.00 
$      12,091,513.38 
FY30
$   3,428,000.00 
$        8,755,923.48 
FY31
$   2,285,600.00 
$        3,961,013.00 
FY32
$        2,501,692.42 
THANK
YOU
MARCH 21, 2025
DEPARTMENT OF 
PUBLIC WORKS
PRESENTED BY: DEREK GABRIEL - COMMISSIONER
$294,512.14
$292,147.41
$203,325.00
$216,000.00
$160,802.00
$251,568.00
$658,639.14
$759,715.41
VITRAN
CEMETERIES
PARKING LOTS
FY2025
FY2026
TOTAL
COLLECTIONS
• CLIFTON HILL
• RAPHUNE HILL
FY2025
$3
MILLION
FY2026
$4
MILLION
FEDERAL HIGHWAY (FHWA) FUNDED 
(ANNUAL ALLOCATION)
FY2025
$6
MILLION
FY2026
$36
MILLION
FEDERAL HIGHWAY (FHWA) 
GARVEE BONDS
• MAHOGANY ROAD
• FREDERIKSTED ROADS
• SPRING GUT ROAD
• VETERANS DRIVE
PHASE 2A
• ST. CROIX - ST. THOMAS FERRY
FY2025
$1.5
MILLION
FY2026
$1.5
MILLION
FEDERAL HIGHWAY (FHWA) 
GARVEE BONDS
• MAHOGANY ROAD
• FREDERIKSTED ROADS
• SPRING GUT ROAD
• VETERANS DRIVE
PHASE 2A
• ST. CROIX - ST. THOMAS FERRY
FY2025
$12.6
MILLION
FY2026
$4.5
MILLION
LOCAL FUNDS
• Veterans Drive 
• Scott Free Road 
• Coki Point
• Fish Fry Road
• Centerline Guardrails
• Armstrong Road
• DeCastro Road
• Rocky Road
• Washington School
• Hospital Ground
• Lower Love
• Estate Morningstar
• La Grande Princesse
• Contentment Road
• Hermon Hill on Water 
Crossing
• La Vallee
• Estate Sion Farm
• La Grange
St. Thomas / St. John
DISTRICT
• Emerald Hill
• Bovoni Road
• Estate Contant
• Bolongo Road
• Nicholas Friday Drive
• Valley Road
• Johnny Horn Trail
• Leonardo Trotman Drive
• Mountain Top Road
• Smithfield
• Recovery Hill
• Mahogany Welcome
• Estate La Grande 
Princesse
• Estate Diamond Ruby
• Route 73
• Peter's Rest
• Estate St. John Roads
St. Croix
DISTRICT
FY2025
$16.5
MILLION
FY2026
$24
MILLION
CAPITAL IMPROVEMENT PROJECTS
•
DEPARTMENT OF HUMAN SERVICES - HEAD 
START PROJECTS
•
DEPARTMENT OF HUMAN SERVICES - QUEEN 
LOUISE HOME (TEMPORARY)
•
CHARLES SEALES FIRE STATION
•
ENID BAA LIBRARY
•
RANDOLPH DOC RACE TRACK
SUMMARY
TOTAL
GROSS RECEIPTS
TOTAL
GROSS RECEIPTS
2025
$40.3
Million
$2
Million
$70.8
Million
$3.5
Million
2026
THANK
YOU
MARCH 21, 2025
VIRGIN ISLANDS HOUSING
FINANCE AUTHORITY
PRESENTED BY: MONIFA EVANS – DIRECTOR OF FINANCE
DISASTER RECOVERY
$1.08B
MITIGATION
$774.2M
ELECTRICAL GRID
$67.7M
Overview of CDBG-Disaster Recovery Funding
10
6
FY 2026   Total Estimated Revenue
Key Revenue Drivers and Assumptions
FY: 26
$60,328,860 Disaster Recovery
Availability of funds for all the projects
Maintain and follow our established project schedules and timelines
FY 26
$50,033,976  Mitigation/EG
Continued project oversight with contractors, vendors, and 
subrecipients
REVENUE BREAKDOWN
Revenue Category 
Project Count (If Applicable)
Revenue Estimate
Fiscal Year 
DR – Infrastructure
4
$33,963,091
FY26
DR – Housing 
5
$18,445,214
FY26
DR – Public Facilities & 
Economic Revitalization
6
$7,920,555
FY26
MIT – Infrastructure
1
$24,879,000
FY26
MIT – Housing
4
$20,984,400
FY26
MIT – Public Facilities & 
Economic Resilience
2
$4,170,576
FY26
• Assumptions (Projections):
Programs that are under the Disaster Recovery grants are Infrastructure,
Housing, Econonic Revitalization, and Public Services and Public Facilities
which contributes Gross Receipt Taxes to the GVI.
Some Infrastructure-repair and resilience projects on-going and in the
environmental stages includes the Randolph Harley Power Plant Net
Generation, Street Naming Initiative and the Veterans Drive Expansion –
Phase II.
Economic Revitalization activities and 5 Public Facilities/Supportive Needs
Housing projects to assist communities and business bounce back from the
economic impacts of disaster
CDBG-Disaster Recovery, Mitigation, Electrical Grid Grants
• Objectives for Disaster Recovery, Mitigation, 
• and Electrical Grid Grants
Funds were received to revitalize local businesses, homes, and industries 
that were affected by the disaster, generating immediate revenue for the 
community
It also helps provide mitigation measures that can reduce long-term costs 
associated with future disaster, freeing up funds for other community 
needs while continue to generate indirect economic benefits.
CDBG-Disaster Recovery, Mitigation, Electrical Grid Grants
MARCH 21, 2025
VI WASTE MANAGEMENT
AUTHORITY
PRESENTED BY: DARYL GRIFFITH – INTERIM ED/CFO
ASSISTED BY: LUZ BERMUDEZ - COMPTROLLER
Th
Wastewater Optimization Program – Prudent Replacement
In 2024, the Authority launched the Wastewater Optimization
Program.
Starting with St. Croix, on October 25, 2024, FEMA obligated PW
1404 with a net cost of $1,009,946,362.43. FEMA will pay 98% of
this cost, which is $989,747,435.18, and the Territory is responsible
for the remaining 2%, which is $20.2 million. This project is estimated
to take ten (10) years for completion and will
include replacement
pumps, A&E/construction for pump stations and all underground pipe
replacement work.
Th
Thirteen (13) small pump stations and three (3) large ones.
1. Barren Spot Pump Station
2. Bay Road Pump Station
3. Gallows Bay Pump Station
4. Williams Delight Pump Station
5. Humbug #1 Pump Station
6. Humbug #2 Pump Station
7. Concordia Pump Station
8. Old Barracks Pump Station 
Th
(St. Croix Pump Stations continued)
9. Pearl B. Larsen Pump Station 
10. Ricardo Richards Pump Station
11. Coastal Pump Station
12. Campo Rico Pump Station
13. Mon Bijou Pump Station
The large pump stations are LBJ, Figtree and Lagoon Street Pump Station.
FEMA obligated PW 100216 for St. Thomas on January 17, 2025, with a net cost of
$2,188,655,954.66. FEMA will pay 98% of this cost, which is $2,144,882,835.57, and the
Territory is responsible for the remaining 2%, which is $43.7 million.
The Authority has started creating the Scope of Work for the RFP to purchase the pumps for
the St. Thomas Pump Stations and the Scope for the repair and rebuild of the following
pump stations:
1. Airport Pump Station
2. Amco/Bournefield Pump Station
3. Bovoni Pump Station
(St. Thomas Pump Stations continued)
4. Brassview Pump Station
5. Cancryn Pump Station
6. Long Bay Pump Station
7. Lower Tutu Pump Station
8. NaNa Gut Pump Station
9. Nadir Pump Station
10. Subbase Pump Station
11. Upper Tutu Pump Station
St. John has also been approved for FEMA Wastewater funds.
FEMA obligated PW 100219 on January 17, 2025, for a net cost of $83,589,179.26 with a
Federal Share of 98%, which is $81,917,395.68 that FEMA will pay, and the Territory is
responsible for the remaining 2%, which is $1.6 million.
The pump stations, pumps, wastewater treatment plants, and underground piping will also be
worked on the following stations in STJ.
1. Cruz Bay Ejector Pump Station
2. George Simmons Pump Station
3. Pond Mouth Pump Station
4. Power Boyd Pump Station
Convenience Centers Project Update ($18,046,064.45)
The Virgin Islands Waste Management Authority (VIWMA) received Notices to Proceed
for five of seven planned Convenience Centers under the CDBG-DR Grant - Tranche 2.
This authorization allowed VIWMA to engage an engineering firm to complete
environmental assessments and advertise Requests for Proposals (RFPs) for design-build
firms to construct the following centers:
Mon Bijou – St. Croix
Cotton Valley – St. Croix
Concordia – St. Croix
Red Hook – St. Thomas
Smith Bay – St. Thomas
Bournefield – St. Thomas
Susannaberg – St. John
Design and build will take an estimated 
time of 18 months to complete. In 2025 we 
should have 25% completion of the project 
and 75% in 2026.
Fiscal Year Total Estimated Revenue
Key Revenue Drivers and Assumptions
FY 25
$225,575.81
Highlight 1: For FY2026 VIWMA expects to start and substantially complete A&E work 
which will cover 10% of project budget.
Highlight 2: The Authority expects the prudent replacement project to last over a 
decade.
FY 26
$17,070,184.90
PROJECTS
AMOUNT
PERCENT
AMOUNT
Est. 5% GRT
Convenience Centers
18,046,064.45
$      
25%
4,511,516.11
$      
225,575.81
$           
TOTAL FY 2025 ESTIMATED REVENUE
225,575.81
$        
PROJECTS
AMOUNT
PERCENT
AMOUNT
Est. 5% GRT
Convenience Centers
18,046,064.45
$      
75%
13,534,548.34
$     
676,727.42
$           
Prudent Replacement - STX
1,009,946,362.43
$  
10%
100,694,636.24
$   
5,034,731.81
$        
Prudent Replacement  - STT
2,188,655,954.66
$  
10%
218,815,595.47
$   
10,940,779.77
$      
Prudent Replacement - STJ
83,589,179.26
$      
10%
8,358,917.93
$      
417,945.90
$           
TOTAL FY 2026 ESTIMATED REVENUE
17,070,184.90
$   
2025
2026
REVENUE BREAKDOWN
Revenue Category 
Project Count (If Applicable)
Revenue Estimate
Fiscal Year 
Gross Receipts 
Convenience Center
5
$225,575.81
FY 2025
Gross Receipts  
Prudent Replacement
Territory-wide
3
$16,393,457.48
FY 2026
Gross Receipts  
Convenience Center 
7
$676,727.42
FY 2026
Objectives
Objective 1
Objective 2
The Authority launched the 
Wastewater Optimization 
Program.  The program is a 
practical roadmap for achieving 
reliability, sustainability, and 
optimization of wastewater 
infrastructure through FEMA 
prudent replacement funds.
VIWMA remains committed to 
advancing solid waste 
management projects, ensuring 
compliance with environmental 
regulations while improving 
waste disposal infrastructure 
across the U.S. Virgin Islands.
Market Analysis
EST. 5% GRT
$676,727.42 
$5,034,731.81 
$10,940,779.77 
$417,945.90 
VIWMA FY 2026 REVENUE ESTIMATE
PR - STJ
PR - STT
THANK
YOU
MARCH 21, 2025
VIRGIN ISLANDS WATER 
AND POWER AUTHORITY
PRESENTED BY: MICHAEL DOW SR.
ASSISTED BY: DON GREGOIRE – WATER DISTRIBUTION DIRECTOR
Battery Energy 
Storage System 
(BESS)
• Randolph Harley Power 
Plant (STT) - Completed
• Estate Richmond Power 
Plant (STX) 
10 MW @ 20 MWh
*MW = Megawatt | MWh = Megawatt-hour
Battery Energy 
Storage System (BESS)
ST. CROIX:
• Midland Substation
10 MW @ 20 MWh
ST. THOMAS:
• Donald C. Francois Substation
2 MW @ 4 MWh
• Estate Tutu Substation
2 MW @ 4 MWh
• East End Substation
2 MW @ 4 MWh
*MW = Megawatt | MWh = Megawatt-hour
Gas Turbines (GT)
Gas turbines are reliable, efficient
and
have
dual
fuel
capability
(propane and diesel).
The max
capacity should be between 10 to
16 MW (at International Standards
Organization conditions). Due to
ambient conditions on St. Croix, the
expected capacity is between 14
MW – 15 MW. The estimated cost
is $15 million - $20 million, with
demolition
and
preparation
of
existing infrastructure.
Gas Turbines
The gas turbines (GTs) will be
factory
tested
(FAT)
on
propane prior to shipment to
the territory. Due to it being a
TM
mobile
unit,
the
installation
duration
is
anticipated
to
be
one
(1)
month.
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Hazard Mitigation 
Underground Projects
• Funding Source: FEMA (95%)/HUD (5%)
• Projects In Construction:
ST. THOMAS:
–Feeder 5A
ST. CROIX:
–Queen Mary Highway Phase I
–Hannah’s Rest
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Hazard Mitigation 
Underground Projects
• Funding Source: FEMA (95%)/HUD (5%)
• Upcoming Projects:
ST. THOMAS/ST. JOHN:
–Feeder 9A
–Feeder 9D/10B/OCOD
–Feeder 8E (STJ)
ST. CROIX:
–Feeder 2A
–Feeder 3A
–Queen Mary Highway Phase 2
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Underground Project 
Benefits
• Reliability & Resilience
–Storm Protection
–Less Vulnerability to Vegetation
• Safety Improvements
–Reduced Risk of Electrical Hazards
–Minimized Risk of Accidental Contact
• Long-Term Cost Savings
–Lower Maintenance & Fewer Repairs
–Fewer Outages = Lower Economic Impact
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Hazard Mitigation 
Composite Pole Project
• Funding Source: FEMA (95%)/HUD (5%)
• The
Authority
has
replaced
9,196
wooden poles with Composite Poles.
• Phase I for St. Thomas, St. Croix, and
Water Island are 100% completed.
St. John Phase I is 87% completed.
Phase II is scheduled for completion
in 2026.
• During FY26, WAPA intends to install an
additional 1,350 Composite Poles.
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Hazard Mitigation Composite 
Pole Project Progress
4,362
1,711
2,936
187
*Poles planted as of March 7, 2025
St. Thomas
St. John
St. Croix
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Composite vs. 
Wooden Pole Benefits
• Longer Lifespan & Durability – Composite
poles resist rot, pests, and weather damage.
• Increased Storm Resilience – Designed to
withstand stronger winds.
• Lower Maintenance Costs – Composite poles
require minimal upkeep, reducing expenses.
• Enhanced Safety & Reliability – Fire-resistant
and non-conductive, improve electrical safety.
• Environmentally
Friendly
–
Made
from
sustainable materials, reduce the need for
tree harvesting and chemical treatments.
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Hazard Mitigation 
Substation Projects
• Funding Source: FEMA (95%)/HUD (5%)
• WAPA is building a more resilient system
through the implementation of new
substation projects.
• During FY26, the Authority intends to
complete the East End Substation and
continue work on the Donald Francois
and Tutu Substations.
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Microgrid Projects
• Funding Source: FEMA (95%)/HUD (5%)
• WAPA is making the electric system
more resilient and reliable through the
implementation of microgrid projects.
• During FY26, we intend to complete
the
engineering
work
and
begin
construction.
• There are microgrid projects planned
for St. Croix, St. John and St. Thomas.
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Microgrid Projects
• What is a Microgrid?
• Microgrid Projects
• Microgrid Updates
• St. John Leads the Way!!!
REVENUE BREAKDOWN
Revenue Category 
FY26 Expected Spend
FY26 Revenue Estimate
BESS Midland Substation STX E-Grid Funding
$10,000,000
$500,000
BESS STT Substations (DCF, Tutu, East End) E-
Grid Funding
$14,000,000
$700,000
TOTAL:
$24,000,000
$1,200,000
Fiscal 2026 Total 
Estimated Revenue
Key Revenue Drivers and Assumptions
FY26 $1,200,000
Highlight 1: Large Federally Funded Projects will 
generate Gross Receipt Tax.
Highlight 2: Large Federally Funded Projects will 
generate income through permitting fees.
Housing Urban Development (HUD)
Funding Source
REVENUE BREAKDOWN
Revenue Category 
FY25 Expected Spend
FY25 Revenue 
Estimate
Hannah's Rest Waterline Rehabilitation
$2,480,194
$124,009
Campo Rico Waterline Rehabilitation
$2,732,894
$136,644
Blackbeard's Hill Waterline Rehabilitation
$1,103,000
$55,150
Mahogany Estate Waterline Rehabilitation
$1,410,100
$70,505
TOTAL:
$7,726,188
$386,308
Fiscal 2025 Total 
Estimated Revenue
Key Revenue Drivers and Assumptions
FY25 $386,308
Highlight 1: Large Federally Funded Projects will generate 
Gross Receipt Tax.
Environmental Protection Agency (EPA)
Funding Source
REVENUE BREAKDOWN
Revenue Category 
FY26 Expected Spend
FY26 Revenue Estimate
Tank #2 Rehabilitation
$4,280,000
$214,000
Hospital Ground Waterline 
Rehabilitation
$1,284,000
$64,200
Norre Gade Waterline Rehabilitation
$2,784,000
$139,234
Sara Hill Waterline Rehabilitation
$4,592,975
$229,649
AMI Equipment Bulk Order
$3,271,215
$163,561
TOTAL:
$16,212,190
$810,644
Fiscal 2026 Total 
Estimated Revenue
Key Revenue Drivers and Assumptions
FY26 $810,644
Highlight 1: Large Federally Funded Projects will generate 
Gross Receipt Tax.
Environmental Protection Agency (EPA) 
Funding Source
Fiscal 2026 Total 
Estimated Revenue
Key Revenue Drivers and Assumptions
FY26 $11,503,280
Highlight 1: Large Federally Funded Projects will generate Gross Receipt Tax.
*Highlight 2:Large Federally Funded Projects will also generate income through 
permitting fees.
REVENUE BREAKDOWN
Revenue Category 
FY25 Expected 
Spend
FY25 Revenue 
Estimate
FY26 Expected 
Spend
FY26 Revenue 
Estimate
Hazard Mitigation Underground Projects
$8,000,000
$900,000*
$81,000,000
$4,550,000*
Composite Pole Projects
$75,000,000
$3,718,000
$75,000,000
$3,750,000
Substation Projects
$3,000,000
$150,000
$8,000,000
$400,000
Microgrid Projects
$20,000,000
$1,000,000
BESS ERPP Prudent Replacement Funding
$10,000,000
$500,000
Power Generation ERPP Prudent Replacement Funding
$20,000,000
$1,000,000
Prudent Replacement Potable Water Vertical 
Infrastructure – St. Croix Tanks and Pump Stations Design 
Work
$6,065,613
$303,280
Federal Emergency Management Agency (FEMA) Funding Source
REVENUE BREAKDOWN
Revenue Category 
FY25 Expected Spend
FY25 Revenue Estimate
EPA
$7,726,188
$386,308
FEMA
$86,000,000
$4,768,000
TOTAL:
$93,726,188
$5,154,308
Fiscal 2025 Total 
Estimated Revenue
Key Revenue Drivers and Assumptions
FY25
$5,154,308
Highlight 1: Large Federally Funded Projects will generate 
Gross Receipt Tax.
Highlight 2:Large Federally Funded Projects will generate 
income through permitting fees.
TOTAL ESTIMATED REVENUE BREAKDOWN
REVENUE BREAKDOWN
Revenue Category 
FY26 Expected Spend
FY26 Revenue Estimate
HUD
$24,000,000
$1,200,000
EPA
$16,212,190
$810,644
FEMA
$220,065,613
$11,503,280
TOTAL:
$260,277,803
$13,513,924
Fiscal 2026 Total 
Estimated Revenue
Key Revenue Drivers and Assumptions
FY26
$13,513,924
Highlight 1: Large Federally Funded Projects will generate 
Gross Receipt Tax.
Highlight 2:Large Federally Funded Projects will generate 
income through permitting fees.
TOTAL ESTIMATED REVENUE BREAKDOWN
THANK
YOU
MARCH 21, 2025
VIRGIN ISLANDS PORT 
AUTHORITY
PRESENTED BY: AVA PENN
VIPA Historical Statistics
VIPA revenues are supported by travelling passenger traffic at our two airports and 14 public seaports.
2021
2022
2023
2024
¹2025
Aviation
St Thomas
681,201
766,328
706,378
824,142
254,537
St Croix
199,890
208,855
198,678
246,304
77,519
Total Aviation Passengers
881,091
975,183
905,056
1,070,446
332,056
Marine
Cruise Calls
St Thomas
19
333
431
425
207
St John
0
17
20
22
24
St Croix
3
35
69
57
41
Total Cruise Calls
22
385
520
504
272
Cruise Passengers
St Thomas
27,725
790,026
1,512,487
1,550,694
684,045
St John
0
3,059
5,514
5,618
6,436
St Croix
3,841
59,864
177,000
144,930
104,754
Total Marine Passengers
31,566
852,949
1,695,001
1,701,242
795,235
FY2025 - stats are from Oct. 1, 2024 - Jan. 31, 2025
Active Capital Projects Payment Status – Summary by Division / District
Paid a/o
Division/District
Project Cost
Jan. 31, 2025
Balance
Aviation
96,364,476.83
66,470,526.15
29,893,950.68
STT
64,062,535.54
52,557,314.70
11,505,220.84
STX
32,301,941.29
13,913,211.45
18,388,729.84
Marine
16,798,469.95
15,355,801.65
1,370,660.30
STT
1,668,867.10
1,435,156.16
233,710.94
STX
15,129,602.85
13,920,645.49
1,136,949.36
STT/STJ
65,731,402.64
53,992,470.86
11,738,931.78
Aviation
64,062,535.54
52,557,314.70
11,505,220.84
Marine
1,668,867.10
1,435,156.16
233,710.94
STX
47,431,544.14
27,833,856.94
19,525,679.20
Aviation
32,301,941.29
13,913,211.45
18,388,729.84
Marine
15,129,602.85
13,920,645.49
1,136,949.36
All Projects as of Jan. 31, 2025
113,162,946.78
81,826,327.80
31,264,610.98
VIPA 
Gross Receipts
Gross Receipts Paid 
FY21
FY22
FY23
FY24
FY25 (Jan.31)
$  2,739,943.70 
$  1,599,862.03 
$  1,170,003.22 
$  2,141,506.66 
$  707,742.09 
 $-
 $1,000,000
 $2,000,000
 $3,000,000
2021
2022
2023
2024
2025
(Jan. 31
2025)
VIPA Gross Receipts Paid 2021 - 2025 
(Jan. 2025)
(FY25 Jan. 31)
$407,742.09 
(Remaining FY25)
$300,000.00 
REVENUE BREAKDOWN
Revenue Category 
Project Count (If Applicable)
Revenue Estimate
Fiscal Year 
Gross Receipts
6 STT Aviation Projects
$1,423,750
2026
Gross Receipts
1 STX Aviation Projects
$583,333
2026
Gross Receipts
6 STT/STJ  Marine Projects
$2,699,186
2026
Gross Receipts
2 STX Marine Projects
$12,500
2026
Gross Receipts
2 Aviation Projects
$443,750
2027
Gross Receipts
4 Marine Projects
$1,081,930
2027
Fiscal 2026 Total Estimated Revenue
Key Revenue Drivers and Assumptions
FY: 26
Aviation
$2,007,083
STT Aviation: CEKA Runway Rehabilitation
STX Aviation: HERA Apron & Runway Reconstruction Projects
FY 26
Marine
$2,711,686
STTJ Marine: Charlotte Amalie Harbor Dredging & Crown Bay Terminal 
Improvements (Cargo) Projects
STX Marine: Ann E. Abramson Improvement-Freedom Class (Design)
Anticipated Capital Projects– Summary by Division / District 
FY 2025 – FY 2027
Anticipated Capital Projects by Division/District FY2025 – FY2027 
FY2025
FY2026
FY2027
Total Projects
32,511,027
94,375,377
30,513,596
Aviation
17,283,334
40,141,666
8,875,000
Marine
15,227,693
54,233,711
21,638,596
STT/STJ
25,677,694
82,458,710
30,513,596
STX
6,833,333
11,916,667
0
Aviation STT
10,850,001
28,474,999
8,875,000
Aviation STX
6,433,333
11,666,667
0
Marine STT/STJ
14,827,693
53,983,711
21,638,596
Marine STX
400,000
250,000
0
Virgin Islands Port Authority
Anticipated Capital Projects (Approved Funding)
Fiscal Years 2025 - 2027
Project
Loc.
Division
FY2025
FY2026
FY2027
CEKA Selective Slab Replacement - Construction
STT
Aviation
✓
Beachcomber Demolition - Construction
STT
Aviation
✓
✓
CEKA Temp ARFF Station Retrofit - Construction
STT
Aviation
✓
✓
CEKA Runway Rehabilitation - Construction
STT
Aviation
✓
✓
✓
CEKA Drainage Gut Improvements - Mitigation - Design
STT
Aviation
✓
CEKA Drainage Gut Improvements - Design
STT
Aviation
✓
✓
Airport System Master Plan - Phase II - Design
STT
Aviation
✓
✓
✓
CEKA ARFF Station Reconstruction - Design
STT
Aviation
✓
✓
HERA Apron Reconstruction - Construction
STX
Aviation
✓
✓
HERA Runway Reconstruction - Phase 1 - Design
STX
Aviation
✓
Charlotte Amalie Harbor Dredging - Environmental Mitigation - Construction
STT
Marine
✓
Charlotte Amalie Harbor Dredging - Construction
STT
Marine
✓
✓
✓
Crown Bay Terminal Improvements (Cargo) - Design
STT
Marine
✓
Crown Bay Terminal Improvements (Cargo) - Construction
STT
Marine
✓
✓
✓
UVF Red Hook Terminal Annex - Customs Building - Design
STT
Marine
✓
Subbase Dry Dock Relocation - Design
STT
Marine
✓
Enighed Pond Community Park - Design
STJ
Marine
✓
✓
Enighed Pond Community Park - Construction
STJ
Marine
✓
✓
The Creek Fish Market - Design
STJ
Marine
✓
✓
The Creek Fish Market - Construction
STJ
Marine
✓
✓
LLB Dock Structural Repairs - Design
STJ
Marine
✓
Ann E Abramson Improvements - Freedom Class - Design
STX
Marine
✓
✓
Cross Channel Lagoon Dredging - Design
STX
Marine
✓
Virgin Islands Port Authority
Anticipated Capital Projects: (Pending Funding)
Fiscal Years 2025 - 2027
Project
Loc.
Division
FY2025
FY2026
FY2027
CEKA Drainage Ghut Improvements - Mitigation - Construction
STT
Aviation
✓
✓
CEKA Fuel Storage Shoreline Protection Repairs - Design
STT
Aviation
✓
✓
CEKA Fuel Storage Shoreline Protection Repairs - Construction
STT
Aviation
✓
CEKA Taxiway A East Reconstruction - Design
STT
Aviation
✓
✓
CEKA Taxiway A East Reconstruction - Construction
STT
Aviation
✓
CEKA ARFF Station Reconstruction - Construction
STT
Aviation
✓
HERA Runway Reconstruction - Phase 1 - Construction
STX
Aviation
✓
✓
UVF Red Hook Terminal Annex - Customs Building - Construction
STT
Marine
✓
✓
Subbase Dry Dock Relocation - Construction
STT
Marine
✓
✓
Subbase Demolition & Abatement - Construction
STT
Marine
✓
✓
Crown Bay Dredging - Design
STT
Marine
✓
Crown Bay Dredging - Construction
STT
Marine
✓
LLB Dock Structural Repairs - Construction
STJ
Marine
✓
✓
Wilfred 'Bomba' Allick Terminal Improvements - Design
STX
Marine
✓
✓
Wilfred 'Bomba' Allick Terminal Improvements - Construction
STX
Marine
✓
✓
Ann E Abramson Improvements - Freedom Class - Construction
STX
Marine
✓
Ann E Abramson Marine Facility Structural Repairs - Construction
STX
Marine
✓
✓
CEKA Drainage Ghut Improvements - Construction*
STT
Aviation
✓
✓
Cross Channel Lagoon Dredging - Construction*
STX
Marine
✓
✓
*Not Funded
Apr Ma Ju Jul
Aug Se Oct Nov De Jan Fe Mar Apr M Jun Jul
Au Sep Oct No Dec Jan Fe Mar Ap Ma Jun Jul Aug Sep
CEKA Parking and Transportation Center
Construction
STT
Aviation
CEKA Selective Slab Replacement
Construction
STT
Aviation
Beachcomber Demolition
Construction
STT
Aviation
CEKA Temp ARFF Station Retrofit
Construction
STT
Aviation
CEKA Runway Rehabilitation
Construction
STT
Aviation
CEKA Drainage Ghut Improvements - Mitigation
Design
STT
Aviation
CEKA Drainage Ghut Improvements - Mitigation
Construction
STT
Aviation
CEKA Drainage Ghut Improvements
Design
STT
Aviation
CEKA Drainage Ghut Improvements
Construction
STT
Aviation
Airport System Master Plan - Phase II
Design
STT
Aviation
CEKA Fuel Storage Shoreline Protection Repairs
Design
STT
Aviation
CEKA Fuel Storage Shoreline Protection Repairs
Construction
STT
Aviation
CEKA Taxiway A East Reconstruction
Design
STT
Aviation
CEKA Taxiway A East Reconstruction
Construction
STT
Aviation
CEKA ARFF Station Reconstruction
Design
STT
Aviation
CEKA ARFF Station Reconstruction
Construction
STT
Aviation
HERA Taxiway A & B Rehabilitation
Construction
STX
Aviation
HERA Apron Reconstruction
Construction
STX
Aviation
HERA Runway Reconstruction - Phase 1
Design
STX
Aviation
HERA Runway Reconstruction - Phase 1
Construction
STX
Aviation
Charlotte Amalie Harbor Dredging - Environmental Mitigation
Construction
STT
Marine
Charlotte Amalie Harbor Dredging
Construction
STT
Marine
Crown Bay Terminal Improvements (Cargo)
Design
STT
Marine
Crown Bay Terminal Improvements (Cargo)
Construction
STT
Marine
UVF Red Hook Terminal Annex - Customs Building
Design
STT
Marine
UVF Red Hook Terminal Annex - Customs Building
Construction
STT
Marine
Subbase Dry Dock Relocation
Design
STT
Marine
Subbase Dry Dock Relocation
Construction
STT
Marine
Subbase Demolition & Abatement
Construction
STT
Marine
Crown Bay Dredging
Design
STT
Marine
Crown Bay Dredging
Construction
STT
Marine
LLB Ferry Dock Terminal Improvements
Construction
STJ
Marine
Enighed Pond Community Park
Design
STJ
Marine
Enighed Pond Community Park
Construction
STJ
Marine
The Creek Fish Market
Design
STJ
Marine
The Creek Fish Market
Construction
STJ
Marine
LLB Dock Structural Repairs
Design
STJ
Marine
LLB Dock Structural Repairs
Construction
STJ
Marine
AEA Marine Facility - Tender Lander Pier
Construction
STX
Marine
Wilfred 'Bomba' Allick Terminal Improvements
Design
STX
Marine
Wilfred 'Bomba' Allick Terminal Improvements
Construction
STX
Marine
Cross Channel Lagoon Dredging
Design
STX
Marine
Cross Channel Lagoon Dredging
Construction
STX
Marine
Ann E Abramson Improvements - Freedom Class
Design
STX
Marine
Ann E Abramson Improvements - Freedom Class
Construction
STX
Marine
Ann E Abramson Marine Facility Structural Repairs
Construction
STX
Marine
Virgin Islands Port Authority
24-Month Lookahead Schedule
(As of Q3 FY2025)
Project
Design / 
Construction
Loc.
Division
FY2025
FY2026
FY2027
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
THANK
YOU
2025 SPRING  REVENUE 
ESTIMATING CONFERENCE 
DEPARTMENT OF FINANCE
ACTUALS YTD THRU FEBRUARY 28TH FISCAL YEAR 2025
PRESENTED BY: KETURAH NURSE AND NATIFAH TODMAN
Outline
• General Fund Revenues
• Bank II Revenues
• We Need You!
General Fund YTD Tax Collection Category (Actuals) 
General Fund YTD Revenue Collections Category
(Actuals) 
Special and Other Funds YTD Collections
CONTRIBUTORS:
•Caribbean Basin
•Transportation Trust 
Fund
•Health Revolving Fund
•WAPA Generator Fund
•Anti-Litter & 
Beautification
TAKE AWAYS
Significant Drop in Revenue Sources: 
Growth in Specific Areas:
-$183K
-$1.9M
-$5.6M
FY25 MONTHLY ENDING AVAILABLE 
CASH BALANCE - CONSOLIDATED
THANK
YOU!!
Questions? 
MARCH 21, 2025
OFFICE OF MANAGEMENT
AND BUDGET
PRESENTED BY: JULIO RHYMER, SR - DIRECTOR
FY 2026 
Revenue Outlook
Individual Income
Bureau of Revenue Data
FY 2023 Actuals
FY 2024 Actuals
FY 2025 Proposed
FY 2025 Revised 
FY 2026 Estimates
$437,279,538.62
$401,189,572.54
$502,387,131.00
$424,503,542.19
$414,146,513.00
•
Tax Revenue declined since FY 2022 for a high of $461,345,806.68.
•
FY 2025 proposed revenue of $502,387,131.00 has been revised downward to $424,503,542.19. 
which is inline with historical monthly trends.
•
FY 2026 revenue estimate of $414,146,513.00 is a cautiously conservative estimate due to the 
current economic environment and uncertainties.
Corporate Income
Bureau of Revenue Data
FY 2023 Actuals
FY 2024 Actuals
FY 2025 Proposed
FY 2025 Revised 
FY 2026 Estimates
$84,492,477.28
$65,674,842.58
$100,248,228.00
$82,516,855.01
$74,818,323.00
•
Tax Revenue has declined since FY 2022 for a high of $109,290,732.
•
FY 2025 proposed revenue of $82,516,855.01.
•
FY 2026 revenue estimate of $74,818,323.00 is a cautiously conservative estimate due to current 
economic environment and uncertainties. 
•
Will assume additional revenues from PROJECTS.
Other Revenues 
Taxes 
FY 2023 Actuals
FY 2024 Actuals
FY 2025 Proposed
FY 2025 Revised 
FY 2026 Estimates
$331,625,743.66
$339,151,040.35
$361,348,095.00
$363,502,576.43
$367,336,165.09
•
FY 2025 proposed revenue of $361,348,095.00 has been revised upward to $363,502,576.43 which 
is based on historical monthly trends and the FY 2026 projection at $367,336,165.09.
•
FY 2026 total for: Gross Receipts Tax, $234,744,444.91; Excise Tax, $39,834,500.44 and 
Franchise Tax, $5,556,708.00. 
•
FY 2026 total for Real Property Tax is projected at $65,600,000.00.
•
FY 2026 revenue will assume additional revenues from PROJECTS.
Other Revenues 
Fees
FY 2023 Actuals
FY 2024 Actuals
FY 2025 Proposed
FY 2025 Revised 
FY 2026 Estimates
$64,239,857.09
$68,803,742.00
$76,820,492.00
$81,445,490.15
$82,946,271.62
•
FY 2025 Proposed revenue of $76,820,492.00 has been revised upward to $81,445,490.15.
•
FY 2026 revenue estimates of $82,946,271.62 shows a conservative increase due to the uncertainty 
of the current economic climate. 
•
Major revenue estimates for: License $3,948,376.84; Fines, Forfeitures, Penalties $2,911,227.02; 
and Fees and Permits, $7,526,140.99. 
Revenue Outlook 
(Not Including Transfers Out)
FY 2023 Actuals
FY 2024 Actuals
FY 2025 Proposed
FY 2025 Revised 
FY 2026 Estimates
$876,606,632.83
$841,093,492.16
$1,009,940,410.00
$931,095,005.48
$916,922,931.91
•
Revenues have decline since FY 2022 from $972,720,384.49.
•
FY 2025 $1,009,940,410.00 has been revised downward to $931,095,005.48.
•
FY 2026 total of $916,922,931.91 shows a conservative decrease to due to the uncertainties of the 
current economic climate.
•
FY 2026 revenue estimate, will assume additional revenues from PROJECTS.
THANK
YOU