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Finance Commissioner Valdamier Collens

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CHARLOTTE AMALIE – Over the last month the Virgin Islands government has worked to eliminate the retirement backlog for former government employees waiting for their pensions, Government House said. This includes recent payments totaling $1,182,064 for 96 retirees, Finance Commissioner Valdamier Collens said on Wednesday. The Mapp-Potter administration said it

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CHARLOTTE AMALIE — Governor Kenneth Mapp said that he has approved the $1.32 billion Fiscal Year 2019 budget for the Government of the United States Virgin Islands. The budget was submitted to the 32nd Legislature on May 30, 2018 and Senators acted to approve it on September 19th. The Governor notified

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CHRISTIANSTED – Gov. Kenneth Mapp thanked members of the 32nd Legislature of the Virgin Islands for authorizing the territory’s government to enter into a Federal Emergency Management Agency Community Disaster Loan. Senators approved the Government’s borrowing initiative during Friday’s session. “By their affirmative vote, Senators have strengthened the cash liquidity of the

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NEW YORK — Seeing few options for improvment to the territory’s finances,  Fitch Ratings took its credit rating on the Virgin Islands down all the way to triple-C from B. That’s a steep three-notch downgrade, bringing it to a level that indicates significant risk of default. Also, Fitch is maintaining a negative

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RISKY BUSINESS: The Government Employees Retirement System (GERS) building in St. Thomas. The pension system does not have enough money to pay the $4.5 billion due to retirees. The New York Times says GERS made questionable “high risk” investments in things like viaticals. (PHOTO COURTESY: Mireya Acierto for The New York Times)

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I DON’T PAY TAXES, BUT YOU HAVE TO, BECAUSE THE GOVERNMENT IS BROKE! Gov. Kenneth Mapp admitted to the St. Croix Chamber of Commerce that his reckless spending habits have his inept territorial government teetering on bankruptcy. CHRISTIANSTED — Gov. Kenneth Mapp, members of his administration, members of the 32nd

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CHARLOTTE AMALIE — The first batch of 2015 income tax refunds have been transmitted to the Department of Finance for processing this week, according to a written statement from Government House. At least $10 million in refunds will be paid out, Finance Commissioner Valdamier Collens and Internal Revenue Director Marvin

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CHARLOTTE AMALIE — With the recent approval to appropriate $8.1 million to pay down the amount owed to the Virgin Islands Water & Power Authority (WAPA) by the Juan F. Luis Hospital and the Schneider Regional Medical Center, Commissioner of the Department of Finance, Valdamier Collens, said that the department

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     Finance’s Valdamier Collens CHARLOTTE AMALIE – Cash is no longer king with the Virgin Islands government. At least when it comes to government employees paying into their insurance fund. Finance Commissioner Valdamier Collens said today that cash will no longer be accepted accepted at Government Employees Retirement System

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