Commonwealth gov't accounts drop 0.5%

By The Star Staff

Puerto Rico’s government bank accounts balances went down to $20.06 billion as of Oct. 30, a 0.5 percent decrease over the previous month.

The information is contained in a notice to markets.

The Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF) published a summary of the commonwealth’s bank accounts this week showing that the overall balance decreased by $100 million from the previous balance of $20.17 billion reported on Sep. 30.

The decrease was driven, according to the report, by a $296 million increase in the Treasury Single Account (TSA) balance, a $38 million increase in restricted accounts and/or those subject to Title III proceedings, a $16 million increase in pension-related accounts, a $237 million decrease in public corporations, and a $212 million decrease in central government non-TSA accounts.

Regarding agencies and public corporations that are in bankruptcy under the Puerto Rico Oversight, Management and Economic Stability Act, the report shows that the liquidity of the Puerto Rico Highways and Transportation Authority grew to $318.2 million as of Oct. 30, from $272.4 million as of Sept. 30.

The bank account balance of the Puerto Rico Electric Power Authority went down to $628.2 million in October, from $632 million in September. Meanwhile, the Puerto Rico Sales Tax Financing Corporation’s account balance decreased to $20.7 million in October from $20.9 million in September, the report said.

The bank account balance for the Puerto Rico Aqueduct and Sewer Authority went up to $841.8 million in October from $809.3 million in September, while the University of Puerto Rico’s account balance decreased to $370.8 million in October from $384.2 million in September.

The filing did not contain the account balances for the Puerto Rico Legislature or the courts, or those for the Government Development Bank for Puerto Rico, municipal funds, or investment accounts.

AAFAF also released a liquidity report, in which the Puerto Rico Ports Authority saw its yearly liquidity increase to $75.6 million from $50.1 million, primarily due to a $34.7 million insurance settlement and collections of $4.7 million in Coronavirus Aid, Relief, and Economic Security (CARES) Act reimbursements.

The Puerto Rico Public Buildings Authority’s year-to-date liquidity decreased to $74.4 million from $77.9 million, primarily as a result of a delay in the receipt of fiscal year 2021 rent payments from commonwealth agencies.

The Puerto Rico Convention Center District Authority’s cash decreased by $2.6 million to $11.6 million at the end of October, mainly due to operating losses as it is unable to operate due to the global pandemic.

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