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  • Writer's pictureThe San Juan Daily Star

Treasury Single Account cash flow is higher than expected, while UPR shows deficit



An unaudited November draft financial report disclosed by the Fiscal Agency and Financial Advisory Authority showed that the University of Puerto Rico ended with a $14.4 million net deficit in the first five months of fiscal year 2024, which began in July.

By The Star Staff


The Puerto Rico Treasury Department reported a net operating cash flow of $252 million for the week ending Dec. 8 in the commonwealth Treasury Single Account (TSA), a number that is $392 million higher than the negative $140 million forecast, a Fiscal Agency and Financial Advisory Authority (AAFAF by its Spanish initials) report shows.


The year-to-date (YTD) Treasury Single Account’s bank cash position was approximately $8.26 billion for the week. The YTD variance was $1.69 billion more than the nearly $6.57 billion forecast.


According to the document, total inflows for the week ending Dec. 8 were $571 million, which was $210 million higher than the $361 million projection.


Meanwhile, outflows were $319 million, or $181 million lower than the $500 million forecast, the report shows.


Federal fund receipts were $88 million higher than the forecast for the week, resulting in $202 million, compared to the $114 million projection, the document indicated.


Another unaudited November draft financial report disclosed by the AAFAF showed that the University of Puerto Rico (UPR) ended with a $14.4 million net deficit in the first five months of fiscal year (FY) 2024, which began in July.


As of Nov. 30, the FY24 year-to-date net deficit was well below the $10.5 million in net income budgeted for the July-November period, according to the report.


The UPR’s total FY24 revenue through November was $469.7 million, almost 4% less than the $490 million budgeted. The consolidated figure of $469.7 million comprised $203.2 million from central government appropriations, $208.4 million from operating revenues, and $58 million from other revenue sources.


Meanwhile, total expenses after debt service at the end of the five months were $484.1 million, 1% higher than the $479.5 million projection. The almost $484.1 million in total disbursements included $253.9 million in payroll and related costs, $134.6 million in operating disbursements, and $77.8 million in other expenditures.

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