Financial Oversight and Management Board Executive Director Robert Mujica argued that the budget proposed by the Puerto Rico Legislature redistributes resources and uses of funds in a way that is not in line with the 2023 Fiscal Plan, and that changes have been made to the budget control language that diverge from the plan.
By THE STAR STAFF
Financial Oversight and Management Board Executive Director Robert Mujica notified island legislative leaders on Wednesday about the non-compliance of the budget for fiscal year 2024 with the parameters of the Certified Fiscal Plan.
“The fiscal year 2024 budget proposal does not comply with the Fiscal 2023 Plan for the Commonwealth of Puerto Rico, as certified by the Oversight Board on April 3, 2023,” Mujica said in a letter.
He argued that the proposed budget redistributes resources and uses of funds in a way that is not in line with the 2023 Fiscal Plan, and that changes have been made to the budget control language that diverge from the plan.
“The Oversight Board provides specific feedback on the revisions needed to comply with the Fiscal 2023 Plan,” Mujica added. “These revisions are detailed in sections I and II.”
In addition, the official set a deadline to correct the violations and submit a revised budget by 7 p.m. Wednesday.
“If the legislature fails to submit a compliant budget by the deadline set forth in this Notice of Violation, the Oversight Board intends to develop and certify its own revised budget on or before June 30, 2023,” Mujica said.
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