PFA Renews Ernst & Young and Witt O’Brien Contracts Worth Up to $46.8 Million a Year

The V.I. Public Finance Authority on Wednesday approved two major contract extensions for the Office of Disaster Recovery, authorizing up to $25,632,361 per year for Ernst & Young and up to $21,197,777 per year for Witt O’Brien as the territory continues managing large-scale federally funded recovery work. The board also approved a separate resolution amending the current Ernst & Young contract by $5.7 million for reconciliation, cash-flow analysis and other financial management support services. ODR Director Adrienne Williams-Octalien told the board that Ernst & Young has been involved in the recovery effort from the beginning and continues to play a central role in reviewing payments, contracts, documentation and cash-flow planning tied to the territory’s disaster recovery funding. She said the firm helps review payments to ensure the required documentation is in place and also reviews contracts so they are structured in a way that supports federal reimbursement. The firm addition...