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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.

U.S. VIRGIN ISLANDS — Governor Albert Bryan Jr. today announced at the Government House Weekly Press Briefing that he has directed the director of the Bureau of Internal Revenue and the commissioner of Finance to begin issuing up to $10 million in income tax refunds.

“As the federal government shutdown drags on, we are watching Washington closely and keeping an equally close eye on the impacts here at home,” Governor Bryan said. “It is not only SNAP recipients who are feeling this. Families, seniors, veterans, small business owners and federal employees are making hard choices. Getting these refunds out now provides real help with essentials and a little more breathing room before Thanksgiving and Christmas.”

In this batch, refunds will be issued to 3,328 tax filers who are due a refund and filed their returns by March 21, 2024. Refunds will begin going out on Thursday, Nov. 20, 2025. The Governor thanked the teams at the Bureau of Internal Revenue and the Department of Finance for their steady work verifying returns and moving payments as quickly as possible during a challenging period.

This latest issuance follows a July 2025 disbursement of $15.7 million in income tax refunds to more than 3,700 Virgin Islanders and brings the cumulative amount paid in tax refunds under the Bryan-Roach Administration to $435 million.

“From the start, we set a clear marker to get current on income tax refunds,” the Governor added. “We are not all the way there yet, but we are moving to meet that commitment. Our goal is simple: pay what is owed, do it correctly and do it as quickly as we can, while looking out for the Virgin Islanders who need the most support as this shutdown continues.”

Residents with questions about their filing status should contact the Bureau of Internal Revenue during regular business hours. The Government of the Virgin Islands will continue to monitor the shutdown’s local impacts and process additional refunds as cash flow permits.