Government of the Virgin Islands 2007 Budget Estimates
The Virgin Islands BUDGET 2007 T H E V I R G I N I S L A N D S RECURRENT BUDGET ESTIMATES 2007 Estimated Revenue $254,017,000 Estimated Expenditure $221,513,900 Estimated Surplus on the Year's Operations $32,503,100 Contribution to Development Fund $26,603,100 Contribution to Pension Fund $2,500,000 Contribution to Reserve Fund $1,500,000 Contribution to Emergency/Disaster Fund $1,000,000 Contribution to Contingencies Fund $500,000 Contribution to Repairs and Renewal Fund $400,000 Total Funds Contribution $32,503,100 i INTRODUCTORY PREFACE Overview of this Document This document presents the Budget in a new format. The new Budget document is made up of three distinct, but related, parts: • Part 1: The Budget Address; • Part 2: The Economic and Fiscal Outlook • Part 3: The Estimates of Expenditure. Part 1 contains the full text of the Budget Address delivered by The Honourable Minister of Finance. Part 2 is a new part in the document. It is made up of two sections. The first provides an analysis of the territory’s economy and the future economic outlook. The second provides aggregate forecast financial statements for the Government as a whole, together with an analysis of those forecasts. This is the first time that the budget document has contained such economic and financial information. Part 2 deliberately has the “big picture”, government as a whole focus. Part 3 contains the detailed recurrent and capital expenditure allocations for each ministry and department. Part 3 has a specific initiative, line item focus.
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