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Thursday, September 15, 2005
The Senate Finance Committee approved $4.8 million from the General Fund to the Finance Department to upgrade the Virgin Islands government's financial management system and for personnel related costs. The U.S. Department of Education froze federal funds to the territory in July saying the government failed to meet a federal mandate to overhaul its financial management system. The V.I. Education Department is under federal receivership and must hire a third-party grant manager before it can receive more funding.