Company: OIA
Filing Date: 2025-03-13
Form Type: 424B5
Source: 0001104659-25-023508
Chunk: 189

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-03-13
Form: 424B5
Chunk 189
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 Virgin Islands and its political subdivisions, instrumentalities, and authorities, which may reduce the performance of a fund. Budget.In recent fiscal years, the government has experienced substantial fluctuations in revenues and expenditures, as well as recurring deficits. The Virgin Islands has taken a series of actions in recent years to reduce the size of its operating budget and address its recurring operating deficit. However, these actions have not addressed the structural imbalances that have led to recurring deficits. Rather, annual shortfalls have been addressed by an ad hoc combination of inter-fund transfers and debt financing. The Proposed Executive Biennial Budget includes $969.1 million in General Funds for FY 2024 and $968.0 million in General Funds for FY 2025. The total operating budget including appropriated and nonappropriated funds and federal funds is $1.42 billion and $1.42 billion in Fiscal Years 2024 and 2025, respectively. Total assets and deferred outflows of resources of the Government of the Virgin Islands as of September 30, 2021 and 2020, were approximately $4.3 billion and $3.7 billion, respectively. Total liabilities and deferred inflows were approximately $9.7 and $8.8 billion, respectively, over the same period. Liabilities exceed assets mainly due to unfunded pension and postemployment benefits such as health insurance due to retired Government employees amounting to $5.5 billion and $5.0 billion at September 30, 2021 and 2020. As discussed in the financial statements, the Virgin Islands Government reported an unrestricted net deficit in Governmental Activities and in the General Fund that raise substantial doubt about its ability to continue as a going concern. On September 30, 2021, the Government’s net deficit of $5.3 billion consisted of a $584.2 million net investment in capital assets; $300.5 million restricted by statute or other legal requirements that were not available to finance day-to-day operations; and an unrestricted net deficit of $6.2 billion. On September 30, 2020, the Government’s net deficit of $5.2 billion consisted of a $529.0 million net investment in capital assets; $307.4 million restricted by statute or other legal requirements that were not available to finance day-to-day operations; and an unrestricted net deficit of $6.0 billion. The Proposed Executive Biennial Budget reflects a 100% reduction in transfers from the Internal Revenue Matching Fund (IMRF). The great majority of