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U.S. VIRGIN ISLANDS — Governor Albert Bryan Jr. earlier this week signed the Fiscal Year 2027 budget bills passed by the 36th Legislature, authorizing funding for government operations, healthcare, education, infrastructure and other essential public services across the Virgin Islands.

The approved measures include $739.2 million from the General Fund for the operation of the Government of the Virgin Islands during the fiscal year that began October 1, as well as separate appropriations supporting the territory’s hospitals, the University of the Virgin Islands, the Virgin Islands Waste Management Authority, the judicial and legislative branches, and several independent agencies and boards.

“This budget allows us to continue the work of delivering the services our people depend on while keeping the government on stable financial footing,” Governor Bryan said.

“Throughout our administration, we have worked to bring greater discipline and predictability to the budgeting process, while making the investments necessary to strengthen our communities and create opportunities for the future. As we enter this new fiscal year, our responsibility remains the same: use the resources entrusted to us wisely and continue delivering results for the people of the Virgin Islands.”

Among the measures approved by Governor Bryan are $66.5 million for the Virgin Islands Hospital and Health Facilities Corporation, $34.1 million for the University of the Virgin Islands and $32.5 million in General Fund support for the Virgin Islands Waste Management Authority.

The Governor also approved $5 million in capital improvement funding across the three islands, including $2 million for St. Croix and $1.5 million each for St. Thomas and St. John.

Additional appropriations support the Department of Education, public works and transportation, tourism, elections, the Board of Education, the Career and Technical Education Board, the Office of the Inspector General, the Public Services Commission and other government operations.

Governor Bryan also approved legislation reprogramming previously appropriated funding for the Department of Education to address current and prior-year obligations of the department and the Bureau of School Construction and Maintenance, as well as legislation revising the allocation of monies deposited into the Virgin Islands Water and Power Generating and Infrastructure Fund.

Separately, the Governor approved Bill No. 36-0389, ratifying renewals of the Government of the Virgin Islands’ group life, accidental death and dismemberment, vision and medical health insurance plans, along with voluntary employee-paid critical illness, accidental injury and hospital care coverage.

The FY2027 budget represents the final executive spending plan submitted by the Bryan-Roach Administration. When Governor Bryan transmitted his proposed budget to the Legislature in May, the Administration outlined priorities centered on infrastructure, recreation, housing, fiscal stability and continued economic development.

Governor Bryan thanked members of the 36th Legislature for completing work on the spending package and other measures before the start of the new fiscal year.

“I thank the members of the 36th Legislature for their work on behalf of the people of the Territory,” Governor Bryan said. “There will always be areas where the executive and legislative branches may approach an issue differently, but completing the budget is one of our most important shared responsibilities. What matters now is putting these resources to work effectively for the people we serve.”

U.S. VIRGIN ISLANDS — Governor Albert Bryan Jr. today submitted the Bryan-Roach Administration’s proposed Fiscal Year 2027 Executive Budget to the 36th Legislature of the Virgin Islands, presenting a financial plan focused on infrastructure, recreation, housing, fiscal stability and long-term economic growth.

The proposed FY 2027 General Fund budget totals $958.2 million and represents the final executive budget submission of the Bryan-Roach Administration. The spending plan continues the administration’s commitment to responsible budgeting, disciplined spending, reliable revenue forecasting and targeted investments that improve the quality of life for Virgin Islanders.

This year’s budget theme, “Investing Today for the Communities of Tomorrow: Infrastructure, Recreation and Housing,” reflects an administration-wide focus on building stronger communities, expanding opportunity and ensuring that the territory’s current progress creates lasting benefits for future generations.

“As we submit the final Executive Budget of the Bryan-Roach Administration, we do so with confidence in the progress we have made and with a clear vision for the work still ahead,” Governor Bryan said. “This budget extends a legacy of responsible fiscal management, accurate revenue forecasting, smarter government operations and the continued reduction of longstanding government debt. It is a financial plan rooted in discipline, but it is also a roadmap for people, progress and sustainability.”

The FY 2027 budget takes a careful and measured approach amid continued uncertainty in the national economy and shifting federal policies. At the same time, the proposal reflects the continued strength and resilience of the Virgin Islands economy and shows a territory anchored in progress.

The proposed budget anticipates increased collections across five major revenue categories: personal income taxes, gross receipts taxes, excise taxes, property taxes and corporate taxes. That projected growth is supported by continued strength in tourism, recovery and mitigation construction, housing development, private investment and broader economic activity throughout the territory.

“In plain language, the Virgin Islands economy is growing,” Governor Bryan said. “Our tourism product is expanding, private investment is increasing, recovery work is moving forward and our budget reflects a territory preparing for the future instead of merely reacting to the present.”

The administration pointed to recent economic development announcements, including expanded airlift and new hotel development projects, as signs of growing investor confidence in the Virgin Islands and evidence of the territory’s continued economic momentum. Increased airlift is expected to bring more visitors and business activity, particularly to St. Croix, while new hospitality investments are expected to create jobs, generate revenue and support infrastructure development throughout the territory.

The FY 2027 budget also continues the administration’s commitment to long-term fiscal responsibility through a proposed $5 million contribution to the Budget Stabilization Fund, strengthening the government’s ability to respond to future financial challenges without compromising essential services.

Governor Bryan said the proposed spending plan balances fiscal discipline with strategic investments designed to strengthen government operations, improve public services and enhance quality of life across the Virgin Islands.

“This budget makes clear that our investments today must build stronger communities tomorrow,” Governor Bryan said. “We remain focused on creating equitable opportunity, supporting sustainable growth and laying a solid foundation for the next generation of Virgin Islanders.”

Director of the Office of Management and Budget Julio Rhymer will present additional details on the administration’s revenue assumptions, expenditure priorities and fiscal strategies during upcoming budget hearings before the Legislature.

The Virgin Islands Hotel Development Financing Corp. is offering $448 million in bonds to finance the acquisition of two resorts on the island.

Proceeds will be used to acquire The Westin St. Thomas Beach Resort & Spa, and the Buoy House Beach Resort. Fee simple ownership of the properties will revert to the government of the Virgin Islands once the Series 2025 bonds are paid off, according to documents on MuniOS.

The offering will consist of $272 million of Senior Lien Series 2025 A-1 bonds, as well as $164 million of Subordinate Lien Series 2025 B bonds. Interest from these bonds is exempt from federal and Virgin Islands taxes. The offering also includes $12 million of federally taxable Senior Lien Series 2025 A-2 bonds. The serial bonds will fully mature on Dec.1, 2055.

The bonds will be secured by revenue from the hotels, as well as interests in the properties and payments from received under a developer’s note after previously issued bonds are redeemed.

The facilities, located at Frenchman’s Reef, will be acquired from CREF32 USVI hotel Holdings. The Westin Beach Resort consists of 392 guestrooms, four restaurants, three pools, and other amenities. Buoy Haus is a 94 guestroom facility, which includes five beach house villas, two honeymoon suites and a ballroom.

The Virgin Islands Hotel Development Financing Corp. is a special purpose public corporation and government instrumentality of the Virgin Islands, organized to issue bonds for public improvements and other public undertakings.

Piper Sandler is listed as the offering’s manager.