fiscal plan

The university has not updated its fiscal plan since 2021. After missing this year’s March 24 deadline, it received an extension from the FOMB, but the May 1 final approval date remains unchanged.

Far from seeking its exit, the Fiscal Control Board is at its peak integration with the Puerto Rico government. At a time when each side has its interpretation of what PROMESA requires, it seems unlikely that the Board will leave on its terms.

Since Mayda Velasco Bonilla became chairwoman of the University of Puerto Rico’s (UPR) Governing Board (JG, in Spanish) in August 2021, the members have never voted to approve the contracts that add up to $1.2 million so far this fiscal year to cover the operations of the Office of Institutional Transformation (OTI, in Spanish), in […]