March 11, 2005 –– Delegate Donna M. Christensen's bill to create a Chief Financial Officer will come to the floor of the House of Representatives for a vote Monday afternoon.
She said Friday night that the need for her bill is clearer than ever now. She said federal officials have "no confidence" in the V.I. government's ability to handle money. She added, "This bill will allow the people of the Virgin Islands to do it our way."
She expressed confidence in the possibility for success this time around. The bill passed the House unanimously last September, but did not come up for Senate consideration before the adjournment of the last Congress. The bill, which also includes a financial management system for the Virgin Islands, was re-introduced to the 109th Congress in January.
She said, "We have started working on this early. We have not even had any Resource Committee meetings, but we are working on this."
"The support for the bill in the House remains solid," said Christensen, "and we anticipate support in the Senate."
She told the Source Friday that on her recent trip to Alabama to commemorate a historical occasion in the Civil Rights movement, she was able to meet several senators and talk about her bill.
She also said Friday it is her goal to have the bill through the U.S. legislature by late April.
Christensen said, in an earlier press release, "Recent events have underscored the need for fiscal oversight and support for the bill in the community remains strong."
According to that release, the CFO bill is intended to have a chief financial officer:
– Assume the functions and authority of the office of Management and Budget
– Develop a report on the financial status of the government six months after appointment and quarterly thereafter
– Certify the spending limits of the annual budget and whether or not it is balanced
– Monitor budget operations for compliance with spending limits, appropriations, laws and direct adjustments
– Develop standards for financial management including inventory and contracting
– Oversee all aspects of the implementation of the financial management system
– Provide technical staff to the governor and Legislature for development of a deficit reduction and financial recovery plan.
The release also explained what the qualification of the Chief Financial Officer should be.
It said the CFO should have demonstrated ability in general management, knowledge and extensive practical experience in governmental or business entities. The CFO must also have experience in the development, implementation and operation of financial management systems.
Christensen admitted that opposition to the bill by Gov. Charles Turnbull has made things "difficult."
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