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Financial Oversight and Management Board for Puerto Rico Announces First Meeting

The Financial Oversight and Management Board for Puerto Rico has announced that its first meeting will be held the Friday, September 30th in New York to elect a chairman and address other organizational matters.  Subsequent meetings will be held in mid-October and mid-November.  The November meeting is likely to be held in Puerto Rico.

The Board also announced its agenda for the September meeting:

  1. Election of the Board’s chairperson
  2. Adoption of the Board’s bylaws
  3. Initial designation of covered entities under the Act
  4. Request of a Fiscal Plan and other information from the Governor of Puerto Rico
  5. Establish a process for the search of the Board’s executive director and certain key personnel
  6. Other administrative matters

The scheduled meeting comes after a briefing last week in Washington with U.S. Treasury Department officials in which the board was given an overview of Puerto Rico’s economic situation.



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