(a) There is hereby created a Data Processing Revolving Fund which shall be constituted of all monies paid or otherwise made available to the Government of the United States Virgin Islands for the development of Data Processing Systems, or in payment for Data Processing Services, including any or all payments made by the Government of the Virgin Islands, agencies, departments or instrumentalities thereof under contract with the Department of Finance for Data Processing Services.
(b) The Commissioner of Finance shall maintain and provide for the administration of the Data Processing Revolving Fund as a separate and distinct fund in the Treasury of the Virgin Islands and no funds therein shall be available for expenditure except as provided by this section.
(c) All monies deposited into the Data Processing Revolving Fund shall be disbursed by the Commissioner of Finance exclusively for the expenditure of the Department of Finance for any and all supplies and equipment, contractual services and such other necessary services as may be incidental thereto for the operation and maintenance of Data Processing Services within the Department of Finance.
(d) The Commissioner of Finance shall submit quarterly reports to the Governor and the Legislature, listing all receipts and expenditures pertaining to the Data Processing Revolving Fund.