(a) It is the policy and purpose of the Government of the United States Virgin Islands that government funds be so managed that maximum benefits be derived from them during such periods that the same are held for safekeeping in depositories designated by the Commissioner of Finance with the approval of the Governor in accordance with the provisions of section 3301 of this chapter, or that they are invested in interest bearing securities or accounts. Such deposits or investments do not constitute loans of the governmental funds involved.
(b) The Commissioner of Finance and all other officers, boards or commissions exercising advisory or policy-making functions with respect to the deposit or investment of governmental funds shall, from time to time, report to the Director of the Office of Management and Budget as to available sums in excess of demand deposit requirements of the Government and which may prudently be invested in interest bearing securities or accounts in order to implement the policy declared in subsection (a) of this section.
(c) Subject to the approval of the Governor, the Director of the Office of Management and Budget shall develop and maintain a comprehensive plan for the deriving of maximum benefits through the effective management of governmental funds and shall provide such co-ordinated administration as is necessary or appropriate in accordance with the purposes of this section.