PROMESA Board Receives Reports from Puerto Rico Government, Requests More Information

Despite having received numerous reports from Puerto Rican entities, the PROMESA fiscal oversight board used its first meeting on September 30 to ask for financial information from the Puerto Rican government.

In addition to its request for a turnaround plan from Puerto Rico’s governor, the board requested specific data:

Weekly cash flow reports, disclosing all revenues received and expenses.
Monthly breakdowns of bank accounts.
Monthly and year-to-date compliance with budget.
Monthly and year-to-date revenues.
Monthly detailed payroll reports by agency.
Monthly reports on federal funds disbursed.
Monthly reports on debt and what has been paid.
Agency performance and productivity reports with appropriate metrics.
Quarterly reports on key economic financial and labor statistics.

A number of documents have already been provided to the board by the government of Puerto Rico.

Read more: http://www.puertoricoreport.com/promesa-board-receives-reports-puerto-rico-government-requests-information/