The Virgin Islands Casino Control Commission plans to spend less money and to earn more in 2017, according to a budget approved Tuesday.
Commission Chairwoman Violet Ann Golden said that the commission will be spending less for legal and accounting fees but, at the same time, expects to earn around $100,000 more in cash from the gambling establishment recently opened in Christiansted.
The total income listed in the budget approved was $2.6 million – $1 million to come from the General Fund; the rest from the Casino Revenue Fund and the Casino Control Special Account.
The Casino Commission gets 12 per cent of the taxes the government collects from the Divi Carina Bay Casino. Golden said that amounts to about $200,000 a year.
The money from the General Fund pays Casino Commission employees’ salaries and fringe benefits. The commission’s other expenses are met through licensing fees and assessments.
Golden said the $732,000 figure projected in the Casino Revenue funds relies on the collection of some past due accounts. She also said that Casino Control Special (income) Account figure of $875,000 relied on the liquidation of the Casino Commission Revolving Fund and the Department of Finance turning over $300,000 to the commission.
In the expense section of the budget, $90,000 rental costs were listed for Casino Control Commission’s building located in Christiansted; $110,000 for travel; and $40,000 for office supplies.
The commission put on hold the adoption of amendments to the V.I. Casino Control Commission Rules and Regulations to create a Chapter 435: Approved Enterprise Zone Hotels.
The amendments, which Golden said she would like the public to have time to review, include definitions and net cash flow requirements of the hotels in an enterprise zone.
The commission also approved:
– casino employee renewals for Amand George, Stanley Coram and Charles McCollough;
– employee temporary license extension for Carissa Felix and Subira Dabrio;
– new casino employee license for Albert Simmonds;
– new and renewed casino and hotel work permits for Anton Kuipers, Omar Jarvis, Armard George, Jacqueline DelaCruz, Calixtus Dalsan, Karen Gilkes, Ramisha Slater, Clinton Davis, Ryphine Simon, Paulette Benjamin-Harris, Julian Joseph, Tyrone Roach and Genevieve Peets.
Commissioners present included Golden, Henry Richardson and Roderick Moorehead.