Monday, September 24, 2018

Governor says he will issue executive orders despite fiscal board’s new review policy

By on August 14, 2018

Gov. Ricardo Rosselló (Courtesy)

SAN JUAN – Gov. Ricardo Rosselló said Monday that despite the fiscal oversight board’s warning that before signing an executive order, he must consult with the entity created by the Puerto Rico Oversight, Management, and Economic Stability Act (Promesa), his duty is not limited to fiscal matters.

“I’m going to make the decisions that I understand are correct for the people of Puerto Rico, [while] always maintaining the fiscal consideration, but my role is not a purely fiscal one, my role is governing and directing Puerto Rico,” Rosselló told the press Monday.

The fiscal board has “a role, and that’s all good but a fiscal role is not going to overshadow my power, nor my determination to do what is right for the people of Puerto Rico,” he added.

Following his executive order that requires government contractors to pay construction workers $15 an hour, fiscal board Chairman José Carrión announced that his panel must be privy to executive orders beforehand for its review and approval.

“Oversight is required in all areas impacting the Commonwealth’s ability to deliver on the certified Fiscal Plans,” Natalie Jaresko, the board’s executive director, said in a release. “This policy will help keep everyone accountable to help Puerto Rico achieve fiscal responsibility, regain access to capital markets, restructure outstanding debt, and return to economic growth.”

The fiscal panel said its new Rules, Regulations and Orders Policy (RRO Policy) requires that it approve of “certain rules, regulations, administrative orders, and executive orders proposed to be issued by the Governor or the head of any department or agency to assure that they are not inconsistent with certified Fiscal Plans.”

The policy applies to matters related to proposed Puerto Rico Electric Power Authority (Prepa) transactions, the “management and operation” of the Office of the Chief Financial Officer, the “right-sizing of the Commonwealth and covered instrumentalities—including those related to procurement, contracting policy, or employee compensation or benefits—among others,” according to the board’s release.

–Cybernews contributed to this report.

Certain gov’t orders require fiscal board approval, according to its new policy

Certain gov’t orders require fiscal board approval, according to its new policy

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