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Gov’t earns $46,000 monthly on ‘in-house’ sales

...Total earnings for 2017 for the unit amounted to $551,686.00-Cabinet Secretary Ms. Sandra I. Ward
Cabinet Secretary, Ms Sandra Ward. VINO/File
Logo for the VI Cabinet's official 'Gazette.' Photo. VINO/File
Logo for the VI Cabinet's official 'Gazette.' Photo. VINO/File
ROAD TOWN, Tortola, VI – The Virgin Islands (VI) Government has seen its official ‘Gazette,’ and other publications, bringing in a monthly average income of $46,000, with the revenue stream maintaining a steady nine per cent increase, over the past three years.

The increased earnings were had last year, despite the impacts of hurricanes Irma and Maria, on the VI financial services sector.

The information was disclosed recently to the VI House of Assembly’s Standing Finance Committee, whose members were told that Cabinet’s Gazette Unit, grossed $551,686.00 in 2017—monies generated from notices, subscriptions and ‘in-house’ gazette sales.

The briefing was made by Cabinet Secretary, Ms Sandra I. Ward.

OFFICIAL NEWSPAPER!

She told the committee members, the annual trend suggests that the second period of the year—May to August—tended to be the lowest revenue producing period,  while the third period—September to December—is usually the highest.

According to Ms Ward, in 2017, the period of September to December earned the lowest amount of revenue due to the impact of Hurricanes Irma and Maria on the financial services sector but the Gazette Unit still managed to record a 9.2 per cent increase from the previous year’s $504,829.00.

Total earnings for 2017 for the unit amounted to $551,686.00—overall, the Unit averaged $45,948 per month that year, according to Ms. Ward.

This, she said, represents the third consecutive year that the Gazette Unit has had, on average, a 9 per cent increase in revenue

The ‘Gazette’ remains the official newspaper of the VI Government, and according to the Cabinet Secretary, “it had been critical and central to the affairs of the Territory in the aftermath of the hurricanes.”

She said, notices and documents for the institution of a curfew, changes to curfew times, “declaration of certain buildings to accommodate Sittings of the House of Assembly and the courts, bills and laws essential to the financial services sector had either been legislatively or constitutionally required to be published in the official Gazette” so that their intended  purposes, could take effect.

 

 

 

5 Responses to “Gov’t earns $46,000 monthly on ‘in-house’ sales ”

  • 123 (11/06/2018, 11:36) Like (1) Dislike (1) Reply
    well at least 1 thing is making money!
    • Hrmph (11/06/2018, 18:13) Like (3) Dislike (0) Reply
      But the biggest customer is other Govt departments - there is not much point moving money from the accountant general to the departments buying the gazette, then to the gazette, and then back to the accountant general!
  • yrral (11/06/2018, 13:15) Like (0) Dislike (0) Reply
    RT is the official newspaper,of the Russian Federation,government news ,can also deemed as government propoganda
  • post office (11/06/2018, 14:26) Like (11) Dislike (0) Reply
    DHl and Fedex make enough money to own planes. If the BVI Post Office was well run through the financial services boom it would have cornered this market. A reliable registered mail service, agreement with UPS and Royal Mail, plus a nice office with sales of stamps, postcards, social security services would have made a bomb!
    • Cartman 2000 (13/06/2018, 10:59) Like (0) Dislike (0) Reply
      @post office : I concur and applaud your forward thinking! But I thought that OJ and crew were brought in to ‘moderniz’ and update the Postal
      Service with a view to making it competitive in the long run. What happened to that? Some ppl got some good money out of that and some got promotions with hefty salaries....while the service slowly regresses and dies out...


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