VIRGIN ISLANDS PUBLIC FINANCE AUTHORITY
FY 2025 OPERATING BUDGET  
FY 2026 OPERATING BUDGET  REQUEST
Funding Sources
FY 2025 Budget
FY 2026 Budget 
Request
Gross Receipt Taxes
5,000,000.00
5,000,000.00
General Fund 
6,700,000.00
9,000,000.00
PFA Project Fund
4,615,000.00
3,800,000.00
Frederiksted Mall Rental Revenue
85,000.00
100,000.00
Federal Funds (ODR)
13,022,020.00
8,218,820.00
Funding Sources Total
29,422,020.00
26,118,820.00
FY 2025  Budget 
FY 2025 
Expenditures as of 
03/31/2025
Projected for 
09/30/2025
Projected Variance 
09/30/2025
FY 2026 Budget 
Request
Dollar Amount 
Variance 
between FY 2025 
and FY 2026
%Variance 
between FY 2025 
and FY 2026
ADMINISTRATION
 Staff salaries and fringe benefits                                
2,848,284.00
1,192,434.00
2,384,868.00
463,416.00
3,558,553.00
710,269.00
25%
 Board of Directors
       Operating, travel misc.
60,000.00
24,682.00
49,364.00
10,636.00
60,000.00
0.00
0%
       Insurance, Board of Director's Liability
70,000.00
0.00
65,000.00
5,000.00
70,000.00
0.00
0%
 St. Thomas Office
       PFA IT Infrastructure and Website Maintenance
250,000.00
124,484.75
250,000.00
0.00
250,000.00
0.00
0%
       Utilities (electricity, water, security)
125,000.00
54,098.65
108,197.30
16,802.70
125,000.00
0.00
0%
       Communications, office supplies, postage, travel, misc.
350,000.00
125,265.86
325,000.00
25,000.00
350,000.00
0.00
0%
       Building Property Maintenance
250,000.00
51,063.55
200,000.00
50,000.00
250,000.00
0.00
0%
       Financial Team
10,000.00
0.00
0.00
10,000.00
10,000.00
0.00
0%
       Furnishings
25,000.00
0.00
0.00
25,000.00
25,000.00
0.00
0%
       Integrated Financial Management System
350,000.00
12,957.78
350,000.00
0.00
350,000.00
0.00
0%
       Staff Training
50,000.00
932.02
40,000.00
10,000.00
50,000.00
0.00
0%
       Community Donations
100,000.00
51,228.50
100,000.00
0.00
100,000.00
0.00
0%
 St. Croix Office
       Rental space 
55,000.00
19,466.92
55,000.00
0.00
55,000.00
0.00
0%
       Utilities (elec., water, security, insurance, janitorial)
70,000.00
21,308.74
60,000.00
10,000.00
70,000.00
0.00
0%
       Communications, office supplies, postage, travel, misc.
40,000.00
33,767.19
40,000.00
0.00
40,000.00
0.00
0%
       PFA IT Infrastructure and Website Maintenance
150,000.00
0.00
125,000.00
25,000.00
100,000.00
-50,000.00
-33%
       STX Office Upgrades
250,000.00
0.00
250,000.00
0.00
200,000.00
-50,000.00
-20%
ADMINISTRATION SUB TOTAL
5,053,284.00
1,711,689.96
4,402,429.30
650,854.70
5,663,553.00
610,269.00
12%
PROFESSIONAL SERVICE AGREEMENTS
      Accounting and Auditing
600,000.00
420,732.45
600,000.00
0.00
600,000.00
0.00
0%
      Bond Counsel
100,000.00
81,152.73
100,000.00
0.00
100,000.00
0.00
0%
      Financial Advisors
400,000.00
166,742.92
333,485.84
66,514.16
400,000.00
0.00
0%
      Legal Services
6,061,716.00
4,683,057.52
6,250,000.00
-188,284.00
5,486,447.00
-575,269.00
-9%
      Bank Custody and Related Fees
100,000.00
41,147.50
82,295.00
17,705.00
100,000.00
0.00
0%
      Consultancy Services
1,200,000.00
716,452.26
1,200,000.00
0.00
1,200,000.00
0.00
0%
      Frederiksted Retail Mall
385,000.00
383,905.02
500,000.00
-115,000.00
350,000.00
-35,000.00
-9%
PROFESSIONAL SERVICE AGREEMENTS SUB TOTAL
8,846,716.00
6,493,190.40
9,065,780.84
-219,064.84
8,236,447.00
-610,269.00
-7%
TOTAL VIPFA - ADMINISTRATION & FINANCE
13,900,000.00
8,204,880.36
13,468,210.14
431,789.86
13,900,000.00
0.00
0%
 OFFICE OF DISASATER RECOVERY 
      Staff Salaries and Fringe Benefits                                
13,390,000.00
3,399,881.62
10,199,644.86
3,190,355.14
9,800,000.00
-3,590,000.00
-27%
      Building and Maintenance
249,000.00
54,804.09
164,412.27
84,587.73
249,000.00
0.00
0%
      Equipment and Software
294,000.00
96,134.89
294,000.00
0.00
339,000.00
45,000.00
15%
      Legal
69,000.00
19,698.00
69,000.00
0.00
69,000.00
0.00
0%
      Communications, Website Maintenance
154,200.00
35,661.75
154,200.00
0.00
174,000.00
19,800.00
13%
      Miscellaneous
253,820.00
50,923.74
249,526.33
4,293.67
253,820.00
0.00
0%
      Rent & Utilities
642,000.00
80,262.63
401,313.15
240,686.85
864,000.00
222,000.00
35%
      Travel/Training
470,000.00
70,910.67
470,000.00
0.00
470,000.00
0.00
0%
 TOTAL VIPFA -  OFFICE OF DISASTER RECOVERY
15,522,020.00
3,808,277.39
12,002,096.61
3,519,923.39
12,218,820.00
-3,303,200.00
-21%
COMBINED VIPFA AND ODR BUDGET TOTALS
29,422,020.00
12,013,157.75
25,470,306.75
3,951,713.25
26,118,820.00
-3,303,200.00
-21%