The Virgin Islands Port Authority has approved a $199 million budget for the upcoming fiscal year, starting on October 1, 2024. This represents a 19% reduction from the previous year's $246 million operating and capital budget. The Authority’s Board of Governors approved the budget at a special meeting held today in St. Thomas. Ava Penn, VIPA's Director of Financial Affairs, presented the budget overview.
Revenue is projected at $77.5 million in Fiscal Year 2025. The Authority also anticipates $69.5 million in federal grants and $5.4 million in Passenger Facility Charges. Expenses are estimated at $83.3 million, including depreciation. VIPA projects to collect $77.5 million in revenues in FY25, up from the $73.6 million projected for FY 2024. VIPA anticipates an 18% increase in cruise ship calls with 595 ship visits scheduled in FY25 (178 at WICO, 194 at Crown Bay, 22 in St. John, and 101 in St. Croix). An 11 percent overall increase in cruise ship passenger traffic is expected with the largest growth (85%) in St. Croix, which has 101 scheduled calls in FY25 versus 67 calls in FY24. Aviation traffic is projected to increase by three percent, with an estimated one million travelers arriving via air.
The VIPA Board also authorized Executive Director Carlton Dowe to amend the Authority’s marine tariff by increasing two fees that will charged only to cruise ships berthing in the St. Thomas/St. John district. Wharfage fees will increase by 44 cents per passenger to fund VIPA marine operations and expenses. Ship dues will increase by $3.00 per passenger to fund the Charlotte Amalie Harbor dredging project slated to begin next year. The proposed fee increases will be presented at a public hearing at 6 p.m. on October 15, 2024, at the VIPA Administrative Building’s conference room in St. Thomas.
Board members present at today’s meeting include Chairman Willard John, Vice Chair/Public Works Commissioner Derek Gabriel, Secretary Kevin Rodriquez, Attorney General Nominee Gordon Rhea, Leona Smith, and Celestino A. White Sr. Board Member/Tourism Commissioner Joseph Boschulte was absent. There are two vacancies on VIPA’s Board: a representative for St. Thomas and a representative for St. Croix.
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