Tuesday, March 26, 2019

Oversight board publishes fiscal plan, budget timeline for utilities, highway authority, University of Puerto Rico

By on March 11, 2019

(CB file)

SAN JUAN – The Financial Oversight and Management Board for Puerto Rico announced Monday the timeline for fiscal plan revisions and fiscal year 2020 budgets for the Puerto Rico Electric Power Authority (Prepa), the Puerto Rico Aqueduct and Sewer Authority (Prasa), the Highways and Transportation Authority (HTA), and the University of Puerto Rico (UPR).

The following timeline “includes the process for the development, presentation, approval, and certification of those fiscal plans and budgets,” the board said in its release.

Prepa, HTA, and UPR dates:

  • April 5: Entities submit draft of Fiscal Plan to the Oversight Board.
  • May 1: Oversight Board sends Notice of Violation for draft of Fiscal Plan, if necessary.
  • May 10: Oversight Board sends revenue expectations for fiscal year 2020 budget.
  • May 14: Entities submit revised draft of the Fiscal Plan to the Oversight Board.
  • May 22: Entities submit draft fiscal year 2020 budget.
  • May 28: Oversight Board expects to certify the Fiscal Plan.
  • May 31: Oversight Board sends Notice of Violation for draft of fiscal year 2020 budget, if necessary.
  • June 14: Entities submit revised draft budget for fiscal year 2020.
  • June 28: Oversight Board expects to certify fiscal year 2020 budget.

Prasa dates (“depend on Prepa Fiscal Plan input”):

  • April 5: Entity submits draft of Fiscal Plan to the Oversight Board.
  • May 1: Oversight Board sends Notice of Violation for draft Fiscal Plan, if necessary.
  • May 10: Oversight Board sends revenue expectations for fiscal year 2020 budget.
  • May 22: Entity submits fiscal year 2020 budget draft.
  • June 3: Entity submits revised draft of the Fiscal Plan to the Oversight Board.
  • June 7: Oversight Board expects to certify the Fiscal Plan.
  • June 10: Oversight Board sends Notice of Violation for draft of fiscal year budget 2020, if necessary.
  • June 17: Entity submits revised draft budget for fiscal year 2020.
  • June 28: Oversight Board expects to certify fiscal year budget 2020.

The letters sent by board Executive Directo Natalie Jaresko apprising Gov. Ricardo Rosselló of the requirements follows:

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