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Oversight Board certifies COFINA's 2023 fiscal plan pursuant to Section 201(f)
View allApril 24, 2023
News
San Juan, Puerto Rico
On April 24, 2023, the Financial Oversight and Management Board for Puerto Rico (the “Oversight Board”) certified the Puerto Rico Sales Tax Financing Corporation’s (“COFINA’s”) 2023 fiscal plan.
The fiscal plan was certified pursuant to Section 201(f) of the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”), which allows for joint development of the plan between COFINA and the Oversight Board.
In addition, the Oversight Board determined that the Special Revenue Funds’ revenue forecast to be used for the operational budget for COFINA for fiscal year 2024 is $1.68 million.