Puerto Rico revenues up $190M in Dec., IVU falls short
January 10, 2014
Puerto Rico Treasury Secretary Melba Acosta released Thursday preliminary revenue numbers for December, totaling $913 million, up by $190 million, or 26 percent, compared to last year.
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OMB: Puerto Rico expenses under budget, down 6% YOY
January 9, 2014
Driven by a drop in payroll and the implementation of a fiscal improvement program at the Education Department, the Office of Management and Budget said Wednesday that Puerto Rico’s expenses so far this fiscal year are under budget and reflect a 6 percent year-over-year decline.
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Report: Public Buildings Auth. ‘target’ for downgrade
January 8, 2014
The Puerto Rico Public Buildings Authority’s high level of indebtedness — estimated at $4.2 billion — and whether it has repayment capacity, could make it an “easy target” for credit ratings agencies, local analyst firm REOF Capital concluded in a recently released report.
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Puerto Rico P3 Authority appoints project advisors
December 30, 2013
The Puerto Rico Public Private Partnership Authority recently announced the appointment of several advisory firms for key projects in the pipeline, namely, the commuter train from Caguas to San Juan, a new women’s correctional facility, a new men’s correctional facility, and the conversion to natural gas of the Puerto Rico Electric Power Authority plants.
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Fewer gov’t workers a problem for Ombudsman’s Office
December 26, 2013
The reduction in government employees is hampering the capability of the Puerto Rico Citizen Ombudsman’s Office’s and that of government agencies themselves to speedily resolve complaints filed by citizens, said the second-in-command at the agency charged with representing the interests of the public. According to Deputy Ombudsman Héctor A. Morales Martinez, complaints filed by citizens […]
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DACO to review deceptive practices and ads regulation
December 26, 2013
In the wake of this year’s somewhat chaotic Black Friday sales event, the Consumer Affairs Department will take it upon itself to review the Regulation Against Deceptive Practices and Advertisements to, among other changes, require tighter language from retailers when it comes to special offers and item descriptions.
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CRIM launches 100-day amnesty, seeks to collect $60M
December 18, 2013
The Municipal Revenue Collections Center, known as CRIM by its initials in Spanish, announced Tuesday the start of a 100-day amnesty relieving taxpayers who are in arrears with the agency from paying interest, surcharges and penalties on their debt.
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Puerto Rico Trade partners with feds to boost exports
December 16, 2013
Puerto Rico Trade and Export Co. Executive Director Francisco Chévere recently met with representatives from several federal agencies in Washington, D.C. to secure technical assistance to boost exports of local goods and services, the agency announced.
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Puerto Rico collections up $335M YOY through Nov.
December 12, 2013
Puerto Rico Treasury Secretary Melba Acosta announced Thursday that revenues for the first five months of fiscal year 2014 exceeded collections for the same period of fiscal year 2013 by $335 million, or 12.4 percent.
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Puerto Rico CIO hosting 1st UX/UI Bootcamp event
December 3, 2013
The Puerto Rico Office of the CIO, in conjunction with the Science, Technology and Research Trust, will host the first UX/UI Bootcamp Empirical Design Marathon to develop a style guide that defines best practices for design, flow, navigation and structure of the government’s information systems.
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Task Force to help Puerto Rico ‘maximize federal funds’
November 21, 2013
A team of federal officials representing several agencies will come to Puerto Rico next month to help the local government navigate through the economic crisis, prompting more rumblings of the possibility of a receivership for the island.
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Puerto Rico’s 1st official Human Dev. Report underway
November 18, 2013
Puerto Rico government officials announced the start of the process to prepare the island’s first official Human Development Report, to be based on the methodology that the United Nations Program for Development has been using since 1992.
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Fitch puts Puerto Rico’s GO, other debt on negative watch
November 15, 2013
Fitch Ratings placed the 'BBB-' ratings of the Commonwealth of Puerto Rico’s general obligation (GO) bonds, the Puerto Rico Building Authority government facilities revenue bonds guaranteed by the commonwealth, the Puerto Rico Aqueduct and Sewer Authority’s commonwealth guaranty revenue bonds, and the Employees Retirement System’s pension funding bonds on negative watch Thursday.
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Puerto Rico Treasury steps up efforts against tax evasion
November 14, 2013
The Puerto Rico Treasury Department has referred three tax evasion cases to the Justice Department against corporations who failed to pay more than $3.6 million, Treasury Secretary Melba Acosta said Wednesday.
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Treasury reports $262M preliminary haul in October
November 4, 2013
Treasury Secretary Melba Acosta-Febo, announced that preliminary revenues for the month of October 2013 increased by $262 million compared to October 2012, and totaled $856 million for the month.
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