The Financial Oversight and Management Board for Puerto Rico meet Wednesday with student representatives of the University of Puerto Rico’s 11 regional campuses, in addition to the Plastic Arts and Design Schools and the Puerto Rico Conservatory of Music, to discuss the public university system’s fiscal situation.
The government of Puerto Rico released an administrative order Tuesday suspending some $1.8 billion in special assignments and tax credits, in an attempt to bridge budgetary gaps.
The Financial Oversight and Management Board for Puerto Rico sent a letter to the outgoing and incoming governors confirming, among other things, that the Commonwealth will face a deficit of $67.5 billion over the next 10 years.