(a) There is established in the Treasury of the Virgin Islands a separate and distinct fund known as the Single Payer Utility Fund for the purpose of paying to the Virgin Islands Water and Power Authority, the electric and water utility bills of departments, agencies and instrumentalities of the Government of the Virgin Islands that are supported by the General Fund. The Commissioner of Finance shall administer the Fund, and no monies contained therein are to be made available for expenditure and disbursement for any other purposes except as provided in this section.
(b)
(1) The Fund shall consist of appropriated monies that have previously been released and deposited in the operating accounts of departments, agencies and instrumentalities of the Government of the Virgin Islands for the purpose of paying their respective electric and water utility bills. The Fund shall also consist of any funds appropriated by the Legislature and allotted by the Office of Management and Budget for such purpose.
(2) The Office of Management and Budget shall release to the Department of Finance for deposit into the Fund as established in subsection (a) of this section, the allotted funds budgeted for payment of utilities for each department, agency and instrumentality of the Government of the Virgin Islands whose utility services are paid for by the General Fund.
(c) The Commissioner of Finance, upon receipt of bills from departments, agencies and instrumentalities, must pay, from the Fund the respective electric and water utility bills that are due and owing as well as electric and water utility bills which subsequently become due upon verification and in accordance with subsections (d), (e) and (f) herein.
(d) As electric and water utility bills become due, departments, agencies and instrumentalities of the Government of the Virgin Islands shall immediately verify and approve the bills, to include the reconciliation of meter numbers with the respective billing statements, and thereafter forward copies of the approved billing statement along with a statement evidencing the reconciliation to the Department of Finance for payment.
(e) In the event of a billing dispute, the undisputed portion of the bill shall be paid when due. The department, agency or instrumentality along with the Virgin Islands Water and Power Authority shall take prompt action to resolve the disputed portion of the bill(s).
(f) Monies deposited into the Fund are to remain available until expended and may be used to pay for utility services, regardless of what fiscal year the services were incurred.
(g) The Commissioner of Finance shall prepare a monthly statement of all obligations and disbursements from the Fund for payment of electric power bills and submit the statement to the Legislature within thirty days after the close of each month.
(h) The Commissioner shall cause all utility bills to government departments and instrumentalities to be programmed into the Enterprise Resource Planning Program System (ERP).