David Skeel, Chairman of the Fiscal Oversight Board – Dennis Jones
The federal agency assured that this provided important insight into the range of tax situations people face.
By metro Puerto Rico
Friday, April 16, 2021 at 5:58 PM
David Skeel, Chairman of the Fiscal Oversight Board – Dennis Jones
The Fiscal Control Board will complete its pilot program with 10 municipalities starting June 30, the federal agency announced today, Friday.
This program provided important insight into the range of financial problems facing municipalities and the deep-seated system challenges that must be overcome to enable fiscal sustainability, the agency said in a statement.
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“The pilot program confirmed that the current structure of the municipal financial system is inadequate in light of the many challenges facing Puerto Rico,” said Board Chairman David Skeel in written comments.
“The Supervisory Board believes that the current municipal financing system for municipalities must change in order to be fiscally sustainable,” he concludes.
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