Reported by The Star Staff
On Sunday, the University Board of the University of Puerto Rico (UPR), which consists of representatives from students, faculty, and administration, urged the Financial Oversight and Management Board to approve the release of $59 million from the budget for the fiscal year 2024-2025.
“These funds are essential for the UPR to sustain a balanced operational budget, which includes addressing critical deferred maintenance resulting from prior budget cuts and fulfilling the employer contribution to the UPR retirement system,” stated UPR Bayamón Campus Chancellor Dr. Miguel Vélez Rubio. “Moreover, despite the reductions it has faced, the UPR has upheld its fiscal responsibility by maintaining a balanced budget operation, including staying current with public debt payments that total less than $300 million. Failing to allocate at least $500 million to the UPR budget this year leads to a structural deficit of approximately $63 million. However, we must recognize that even with the guaranteed $500 million, achieving optimal operation remains significantly challenging due to ongoing inflation in essential areas such as revenues, and the need for equitable salaries for staff.”
Dr. Rafael Méndez Tejeda, representing faculty on the University Board, remarked, “It is crucial to rescue the institution from the dismal situation it has faced in recent years due to severe cuts and excessive hikes.”
“Now is the moment to invest in the future while protecting the present: the University of Puerto Rico,” he asserted. “We call on the Fiscal Board, the Legislative Assembly, and the OGP [the Spanish acronym for Office of Management and Budget] to move beyond mere statements and attractive rhetoric and to take action in accordance with Law 92 of 2024, thereby validating their claims regarding the significance for the nation’s future by restoring the $59 million that was deducted from the budget they just approved.”
In a certification, the University Board, representing a wide array of the UPR community, indicated that the “Act to End Puerto Rico Bankruptcy,” also known as Act No. 53 of Oct. 26, 2021, stipulated a total contribution of $500 million to the UPR. However, the oversight board interpreted this to mean that only $441 million would be allocated for the institution’s operational management, while the remaining $59 million would be designated for restricted uses, including: healthcare services supplied on the island via interns and resident physicians, the Puerto Rico Seismic Network, training initiatives for public employees, and professional development for educators and school leaders through the island’s Education Department, among other purposes.
