Executive Budget for Fiscal YRS 2022 2023 for GOVT of Virgin Islands Case Study

Executive Budget for Fiscal YRS 2022 2023 for GOVT of Virgin Islands Case Study

In his proposed Executive Budget for Fiscal Years 2022/2023 for the Government of the Virgin Islands of the United States, Governor Albert Bryan, Jr. stated, “These budgets are presented in a biennial format for the first time, the benefits of which include more time being spent on the management, oversight and implementation of spending programs”. The Thirty-Fourth Legislature of the Virgin Islands rejected his proposed Executive Budget for Fiscal years 2022 and 2023 and adopted an executive budget for Fiscal Year 2022 which was signed into law by the Governor.

Required:

Explain the reasons for the Thirty-Fourth Legislature of the Virgin Islands rejection of the Governor’s biennial budget request.

What are the benefits of changing to a two-year budget cycle?

What are the major drawbacks in adopting a biennial budget?

Do you agree with the Governor of the Virgin Islands of the United States that the budget should move from an annual to biennial cycle? Explain your response.

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