University of Puerto Rico

The three Puerto Rico Oversight Board members can resume their positions immidiately, District Court Judge Maria Antongiorgi-Jordan ruled.

The board's executive director said he is unsure how much longer the PREPA bankruptcy proceedings will take.

Oversight Board Executive Director Robert Mujica said the only recently released fiscal 2022 ACFR showed revenues and expenditures continue to be imbalanced.

The goverment must address expected fiscal challenges or bond payments after 2031 are in jeopardy.

While the university remains current on bond payments, it is not financially stable, sources say.

There is chatter about a restructuring of UPR bonds, which have been paid throughout the territory's bankruptcy; the university's accreditation is a factor.

The governor and the Oversight Board had yet to offer an opinion on the increase.

Puerto Rico's government would pay attorneys to represent the interests of bondholders who own less than $1 million of Puerto Rico bonds.

The Puerto Rico Oversight Board has previously said there would be significant spending cuts in the the coming fiscal year.

Even with the November increase, General Fund Revenues collected from July to November were 5% below those of 2019.