ST. THOMAS, VI - The Committee on Budget, Appropriations, and Finance, chaired by Senator Novelle E. Francis, Jr. held a meeting at the Capitol Building. Officials from the University of the Virgin Islands Research and Technology Park (RTPark) and the Virgin Islands Department of Property and Procurement (DPP) delivered testimony regarding the 2027 Executive Budget. Furthermore, testifiers outlined their agencies' priorities, discussed operational initiatives, and responded to senators' questions regarding funding needs, strategic objectives, and plans for the upcoming fiscal year. 

Senator Francis reaffirmed the Committee's commitment to a thorough review of the Fiscal Year 2027 Executive Budget, emphasizing accountability, transparency, and the responsible allocation of public resources to meet the needs of the Virgin Islands.

The University of the Virgin Islands Research and Technology Park Executive Director Eric Sonnier testified that the RTPark remains a self-sustaining entity that receives no General Fund appropriations and is not requesting funding from the Legislature for Fiscal Year 2027. Funded through fees paid by tenant companies, the RTPark generates more than $3 million annually for the University of the Virgin Islands while investing in entrepreneurship, workforce development, and STEM education initiatives throughout the Territory. Senator Ray Fonseca inquired about the RTPark's growth sectors. Sonnier stated the RTPark is leveraging New Markets Tax Credits, CDFI financing, and U.S. Treasury programs to support economic development.

FY 2027 priorities include expanding STEM programming, establishing additional innovation centers, strengthening partnerships with the University of the Virgin Islands, and attracting more high-value businesses to the RTPark. Officials also highlighted continued growth in park tenant agreements, noting that expanding the client base will further strengthen the RTPark's financial sustainability, increase support for the University, and create new economic opportunities across St. Croix, St. Thomas, and St. John without relying on General Fund appropriations. Senator Novelle E. Francis, Jr. inquired about the status of the RTPark's audits. Sonnier responded that the audit began several months ago, and the RTPark has a plan to complete the outstanding audits.

The Virgin Islands Department of Property and Procurement Commissioner Lisa Alejandro is requesting a Fiscal Year 2027 operating budget of $24.36 million to support continued modernization and operational excellence across the Territory. The proposed budget includes $19.06 million in appropriated funds and $5.3 million in non-appropriated funds to strengthen procurement, property management, transportation, printing, and asset management services. The Commissioner outlined priorities that include expanding the Government's GVIBUY eProcurement system, implementing a fleet card management system to replace paper fuel coupons, advancing technology initiatives, improving facilities and infrastructure, filling 11 new and vacant positions, and enhancing government efficiency, transparency, and accountability. 

The Legislature's Post Audit Division reported that DPP proposed FY 2027 budget represents approximately a 1% increase over the previous fiscal year. The report also identified ongoing concerns related to procurement controls, asset management, and contract oversight, while highlighting outstanding vendor payments and open purchase orders as areas requiring continued fiscal accountability and operational improvement.

Senators present at the committee hearing were Novelle E. Francis, Jr., Marvin A. Blyden, Ray Fonseca, Hubert L. Frederick, Dwayne M. DeGraff, Avery L. Lewis, Clifford Joseph, Kurt A. Vialet, Marise C. James, and Carla J. Joseph. 

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For Immediate Release                                           

Press Contact: Africah N.T. Harrigan

Email: aharrigan@legvi.org

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