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Puerto Rico fiscal board signs agreement with comptroller, institute of statistics

By on August 23, 2018

SAN JUAN – The Financial Oversight and Management Board for Puerto Rico said Thursday it signed Memoranda of Agreement (MOAs) with the Puerto Rico Office of the Comptroller and the Puerto Rico Institute of Statistics to “leverage the resources and expertise of both agencies in order to carry out its statutory responsibility of ensuring compliance with the Fiscal Plans and budgets of the Government of Puerto Rico and its instrumentalities in the most efficient manner.”

Under its MOA, the Institute of Statistics will assist the board by providing “technical services to collect, store, and analyze information” from the island’s government and its instrumentalities; “performing data analysis, studies, surveys and statistical projects,” the board said.

The Office of the Comptroller, meanwhile, will assist the board by “providing direct access to the information collected in its Data Warehouse such as registry of all contracts, including amendments thereto, certifications from the agencies which reflect all actual income, expenses, accounting transfers, debts and other obligations, monthly reports reflecting agency employment positions and whether they are filled or vacant; promoting transparency in the contracting process; and identifying all contracts or series of related contracts, inclusive of any amendments, modifications, or extensions, with an aggregate expected value of $10 million or more, to ensure compliance with the Oversight Board’s Contract Review Policy,” the board’s release reads.

“The purpose of these MOAs is to assist the Oversight Board in carrying out its responsibility of ensuring compliance with the Fiscal Plans and budgets in the most efficient manner. Our goal is to use the already existing infrastructure of these two government agencies to promote transparency, avoid duplication of efforts, and save taxpayer money,” said board Executive Director Natalie Jaresko added.

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