Governor Announces Another Financial Bailout for Municipalities

Municipalities will have until this Friday to submit a financial snapshot, which the Office of Management and Budget (OGP) will evaluate and determine which ones have a "severely compromised" financial situation and are eligible for a $35 million bailout, Governor Jenniffer González Colón announced.

Governor Jenniffer González announced today a new $35 million financial bailout for municipalities.

By Redacción Es Noticia redacción@esnoticiapr.com Gov. Jenniffer González Colón gathered yesterday 70 mayors, from both organizations that group these municipal executives, to discuss the fiscal situation that they are going through and in which she signed two Memorandums of Understanding (MOU) on shelter care during an emergency. One of the MOUs, in coordination with the Office of the Women's Procurator, was to establish training for municipal …

Gov. Jenniffer González Colón met with federal mayors and associates on Monday to discuss with state and federal agencies emergency and budget management issues. The meeting, in which 70 municipal executives participated, discussed the fiscal situation of municipalities in distress, which might even have no funds to pay the summer payroll. It was reported that after meetings with multiple agencies, a $35 million bailout agreement was reached for…

Mayors will have to submit, by this Friday, snapshots of their municipalities' finances, which will determine how the funds will be distributed.