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Fiscal board issues ultimatum to University of Puerto Rico

By on July 31, 2017

SAN JUAN – The Financial Oversight & Management Board gave the University of Puerto Rico (UPR) until Tuesday as the “informal deadline” to present the academic institution’s fiscal plan, a document that should have been presented to the fiscal entity in late April.

The ultimatum was revealed by the representative of the Fiscal Agency & Financial advisory Authority (Fafaa), Alejandro Camporreale during a meeting with the UPR’s Board of Trustees.

The university’s fiscal plan is expected to be approved in the meeting because, Camporreale said, the oversight board had informed Fafaa about this deadline at the end of June. The school’s board of trustees regained its quorum June 30.

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During the fiscal board’s public meeting April 28, Chairman José Carrión said the panel expected the UPR to present its fiscal plan “within the next 30 to 45 days.” The initial delivery date given  by the board was March 31.

When asked by faculty representative Gloria Butrón about the urgency of approving the fiscal plan, Camporreale explained that, although the petition wasn’t expressed as formally as the fiscal board communicates its requests, no room was provided to extend the term.

UPR Finance Director Norberto González said the UPR has not been in compliance with the oversight board since May 1.

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