Fiscal board provides schedule for UPR budget submissions

By The Star Staff

The federal Financial Oversight and Management Board in a recent letter provided a schedule for the submission and certification process for the University of Puerto Rico’s (UPR) fiscal year (FY) 2022 budget, according to a letter dated May 21.

The letter contains a UPR revenue forecast for FY 2022, which begins July 1, in which it estimates $1.19 billion in total receipts during the fiscal year ending June 30, 2022 for the financially ailing public institution of higher education.

The letter sent by the oversight board’s executive director, Natalie Jaresko, states that the island government must submit UPR’s budget by Friday (May 28). On or before June 11, the oversight board will send a notice of violation of the budget if needed.

On or before June 22, the Gov. Pedro Pierluisi Urrutia must submit a revised budget (including UPR’s governing board resolution in electronic format with its supporting documentation authorizing such a revised budget) to the oversight board. On or before June 30, if the governor submits a revised, compliant budget to the oversight board, the oversight board will approve it and issue a compliance certification to the governor. If the governor fails to submit a revised, compliant budget to the oversight board, the oversight board will submit its own compliant budget to the governor on June 30 and that budget will be deemed approved.

The governor has rejected budget cuts to UPR proposed by the oversight board. Central government appropriations were set at $465 million.

“Due to the continued impact of COVID-19, this forecast assumes a hybrid instruction model for the first semester of the 2021-2022 academic year. Also, it includes the full return of administrative employees, deans, and chancellors to all 11 campuses,” the oversight board said. “Under this scenario, the UPR assumes most courses continue remotely throughout the summer and transitions to a hybrid class model for the first semester, since some students may face restrictions on returning and meaningful public health measures remain in place.

Furthermore, local and mainland tourism have begun their recovery to pre-COVID numbers, which should translate into a normalization of slot machine receipts, which had experienced a decline for the current fiscal year.”

The oversight board projected that UPR will get $64.5 million from slot machine receipts, $144 million from undergraduate tuition, $38.6 million in graduate tuition and $134 million in campus-generated inflows.

The UPR is also expected to receive $128 million in COVID relief funds and $109 million in federal research funds. Income from Pell grants was estimated at $63 million.

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