46 + REPORT OF THE GOVERNOR OF THE VIRGIN ISLANDS

 Expenditures by years (1955-62, inclusive) Virgin Islands
 Year Total
1955-56 ----------------------------------------- ---- $1, 180, 397. 94
1956-57 --------------------------------------- --------- 1, 107,254.32
1957-58 ---------------------------------------- -- 1, 286, 009. 36
1958-59 ------------------------------------- ------ 1, 540, 727. 21
1959-60 ---------------------------------------- 2, 049, 619.15
1960-61 --------------------------------- -- ---- 2, 623, 131. 71
1961-62 ---------------------------------------------- 2, 790, 820. 43

 Average Cost per Pupil (1955-62, inclusive) Virgin Islands
 Year Total
1955-56 --_---- ----------------------------- $141. 00
1956-57 ------------------------------- 137. 30
1957-58 -------------------------------- 151.84
1958-59 ------ ----------------- ----- -----216. 97
1959-60 --__ ----- ---______--- 266. 00
1960-61 -------------------------------- 326.18
1961-62 ------------------------- --------------------344. 89


 Department of Finance

 Revenues collected and expenditures made by the Government of the
Virgin Islands during the fiscal year ended June 30, 1962, were the
highest ever recorded.
 Total revenues amounted to $17,443,684.57 of which $11,099,933.55,
or 63.63 percent, were for the account of the General Fund, and
$6,343,751.02, or 36.37 percent, were for the account of the Internal
Revenue Matching Fund. In the case of the General Fund, revenues
collected in fiscal year 1962 represented an increase of 26.59 percent
over those collected the previous fiscal year. Matching Fund revenues
collected represented a decrease of 5.46 percent under revenues collected
in the previous fiscal year, due to the fact that Congress appropri-
ated $669,000 from this fund to cover losses of the Virgin Islands
Corporation.
 The increase in the General Fund follows a trend established over
recent years, and which is illustrated in the Comparative Statement of
General and Matching Fund Revenues included in this report as
Exhibit "A". For the first time since fiscal year 1955, the Matching
Fund revenues have registered a decrease.
 In the comparative statement of revenues and receipts (exhibit A)
is presented a picture, in considerable detail, of the revenues collected
into the General and Matching Funds over the 5-year period beginning
with fiscal year 1958 and ending with fiscal year 1962. The statement
shows in the top portion the amount of revenues derived each fiscal
year by source, and the percentage of each item in relation to the total