AAFAF issues latest gov’t liquidity report. Some agencies’ accounts increased

By The Star Staff

The Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF by its Spanish initials) has published a liquidity report for August on more than a dozen commonwealth units and corporations.

The report, published Thursday, summarizes financial information related to 15 component units through Aug. 28, including the actual operating liquidity for each entity as compared to the year-to-date (YTD) figures in the fiscal year (FY) 2021 liquidity plan.

The Puerto Rico Ports Authority saw YTD liquidity decrease to $42.2 million from $50.1 million, partly due to high fixed operating expenses, a $6.1 million insurance payment in August and the suspension of cruise operations. Cruise ship operations are not expected to return to meaningful levels until the third quarter of 2021, the report indicates.

The Puerto Rico Public Buildings Authority (PBA) YTD liquidity decreased to $75.1 million from $77.9 million mostly because of PayGo or pension payments and purchased services. “These were partially offset by collections of approximately $8.8 million in FY20 past-due rents,” the report says.

The PBA estimates it will end FY 2021 with $85.7 million in liquidity, the document notes.

The Puerto Rico Convention Center District Authority’s cash increased by $1.7 million to $15.9 million at the end of August, due to $5 million in appropriations received from the general fund to offset fourth quarter operating losses. Cash is expected to decline significantly over the fiscal year as a result of depressed operating receipts from event cancellations, the document says.

The report also included financial information related to AAFAF, the Puerto Rico Integrated Transit Authority, the Medical Services Administration, the Puerto Rico Industrial Development Co., the Department of Economic Development and Commerce, the State Insurance Fund Corp., the Health Insurance Administration, the Cardiovascular Center for Puerto Rico and the Caribbean, the Housing Finance Authority, the Puerto Rico Tourism Co., the Puerto Rico Administration for the Development of Agricultural Enterprises, and the Automobile Accident Compensation Administration.

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