Oversight Board Certifies $32.7 Billion Commonwealth Budget for Fiscal Year 2026
Working with the Government of Puerto Rico, the Oversight Board certified the $32.7 billion fiscal year 2026 Commonwealth budget that prioritizes important services to residents of the Island.
The budget was jointly developed by the Oversight Board, the administration of Governor Jenniffer González Colón, and the Legislative Assembly.
“Together, we developed a responsible budget that reflects the unprecedented uncertainty around federal funding, economic growth, and Medicaid costs in the coming fiscal year,” said Oversight Board Executive Director Robert F. Mujica, Jr.
More than 60% of the budget is allocated to health, education, public safety, housing, and retirees. The general fund budget for fiscal year 2026 increases total spending by 1.5% from the previous fiscal year.
The Oversight Board has also certified the fiscal year 2026 budgets for the University of Puerto Rico (UPR), Puerto Rico Sales Tax Financing Corporation (COFINA), Municipal Revenue Collection Center (CRIM), Puerto Rico Aqueduct and Sewer Authority (PRASA), Puerto Rico Highways and Transportation Authority (HTA), Public Corporation for Supervision and Insurance of Cooperatives (COSSEC), Puerto Rico Industrial Development Company (PRIDCO), and Puerto Rico Electric Power Authority (PREPA).
Oversight Board Certifies 2025 Fiscal Plans for Various Government Entities
The Oversight Board certified a number of 2025 Fiscal Plans for several public entities, including the COFINA, COSSEC, CRIM, and PRIDCO. Fiscal plans serve as roadmaps for the government entities to improve services for the people of Puerto Rico.
In the case of COSSEC, its fiscal plan is focused on strengthening the financial cooperative system on the Island, which serves approximately 1.2 million residents and businesses. For CRIM, its focus is on improving tax collections so that municipalities have the steady and reliable income they need to provide the services residents expect from their municipal governments. PRIDCO’s fiscal plan emphasizes better management of its real estate portfolio to attract and create jobs in manufacturing, information technology, and life sciences, among others.
Oversight Board Approves New Salary Adjustment Plans for Three Government Entities
The Oversight Board is continuing to work with the Government of Puerto Rico to implement new Classification and Remuneration Plans so that public workers’ salaries are aligned with the local labor market. The salary adjustments are being made for employees in the central government and public corporations.
The three newly approved Classification and Remuneration Plans are for the School of Fine Arts and Design of Puerto Rico (EAPD), a public university located in Old San Juan that offers bachelor’s and master’s degrees in fine arts and design; the Corporation for the Caño Martín Peña Enlace Project (ENLACE), which helps to protect the San Juan Bay National Estuary and promotes economic development for low-income communities in the area; and the Housing Finance Authority (AFV), which provides mortgage loans for the construction and management of rental units for low-income and moderate-income families.
To date, this brings the total Classification and Remuneration Plans approved by the Oversight Board to 29.
The primary aim of the initiative is to offer fair salaries to strengthen recruitment and retain government workers so that they better serve the people of Puerto Rico. In the past, there was no clear government-wide policy on salaries for public workers, so salary scales varied from agency to agency. With this effort, salaries are now fairer, as they are consistent and uniform, and based on data from the local labor market.
In the news
June 18, 2025
The Oversight Board’s Executive Director Robert F Mujica, Jr., sat down with Jorge Colberg from TeleOnce to discuss the challenges surrounding the reconstruction of Puerto Rico’s energy grid, stressing the urgency of investigating available funds into modernizing the system, and reflected on the future of the Oversight Board. The interview aired in two parts on “Jugando Pelota Dura” on June 18 and June 20.
June 11, 2025
In an interview with Alexandra Lúgaro, Oversight Board Executive Director Robert F. Mujica, Jr. answered questions regarding LUMA’s contract, federal funds, the Puerto Rico Electric Power Authority (PREPA), funds for municipalities, and the importance of balanced budgets for Puerto Rico. The in-depth interview for “Última Palabra con Alexandra Lúgaro” aired on TeleOnce as a two-part series on June 11 and June 12 and was highlighted in several publications on TeleOnce’s webpage.
Stakeholders engagement:
June 24, 2025
The Oversight Board’s Budget Management team held a working session with government officials on the “Fiscal Plan Initiative: Improving Revenue/Macro Forecasting.” Participants included representatives from the Fiscal Agency and Financial Advisory Authority (AAFAF), the Office of Management and Budget, the P.R. Treasury Department, the Labor and Human Resources Department and the Planning Board.
June 17, 2025
June 17, 2025
Oversight Board Deputy Executive Director Arnaldo Cruz led a working session meeting with government officials on Civil Service Reform (CSR), an important Fiscal Plan initiative. Among the topics discussed are the next steps in the CSR process and implementing the CSR regulations and policies in the central government and public corporations.
June 12, 2025
The Oversight Board’s Economic Growth and Revitalization Coordinator José Peréz-Riera participated in the Puerto Rico Chamber of Commerce’s 2025 Convention. Peréz-Riera spoke during the event’s energy forum and discussed various Oversight Board initiatives, such as implementing best budget practices in the government and carrying out a multi-year capital infrastructure program.
June 12, 2025
Oversight Board Deputy Executive Director Arnaldo Cruz participated in the XIV Internal Audit Forum, organized by the College of Certified Public Accountants, where he discussed Puerto Rico’s fiscal transformation. Cruz spoke about strengthening the government’s budget controls and implementing best practices, centralizing financial systems, moving infrastructure projects forward, and improving the methodology of economic projections to support long-term fiscal stability in Puerto Rico.
June 4, 2025
Oversight Board Executive Director Robert F. Mujica, Jr. met with Puerto Rico’s Resident Commissioner Pablo José Hernández Rivera in Washington, D.C. The two discussed the debt restructuring of the Puerto Rico Electric Power Authority (PREPA) and other PROMESA related issues.
