WASHINGTON, USA: USVI Delegate to Congress Donna M. Christensen re-introduced legislation this week that would create the office of the Chief Financial Officer (CFO) for the Virgin Islands government. The bill which passed the US House of Representatives in the 108th and 109th Congresses was re-introduced with changes to reflect the current realities in the territory.
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| Delegate Donna Christiansen |
"When I first introduced the idea of a CFO for the Virgin Islands, I did so in response to the uncertainty and distrust of government voiced by my constituents and as a measure to prevent the territory from falling into the abyss of fiscal insolvency," the Delegate stated to the Speaker of the House. "I believed then, as I do now, that having someone in our government free of political pressures and with the statutory responsibility and authority to certify revenue projections and prevent deficit spending could assist our government to establish sound financial practices which would put the islands on the path to improved financial management."
The new bill does not provide for a financial management system because the territorial government has just instituted one.
It no longer names the Chief Judge of the Superior Court as the chairman of the commission proposed to choose the CFO and instead provides that the chair be elected by majority vote of the commission. It provides, however that the Chief Judge call the initial meeting of the commission.
A third change adds the establishment of a local constitution, in addition to a term of five years, or whichever comes first as a trigger for ending the CFO's term.
Delegate Christensen said that she views the implementation of a CFO as a tool that can help the new administration as they grapple with the financial problems confronting the territory.
"I have every confidence in Governor John de Jongh and his administration and believe that they will do a first rate job of managing the territory's finances," said Delegate Christensen. "He has already begun to do so."
Christensen said that she believes that a CFO would provide more accurate financial information to both the governor and the legislature, enhancing their working relationship. It would also make it easier for government departments, semi-autonomous agencies and labor unions to make better plans.
"The people of the Virgin Islands, in general would have reliable information on how the millions of federal dollars are being spent," she said. | 
