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The Federal Emergency Management Agency (FEMA) has announced an extension for expedited project closures through the Public Assistance Program until December 2025, as stated by Central Office for Recovery, Reconstruction and Resilience (COR3) Executive Director Manuel Laboy Rivera on Sunday.
According to Laboy, the extension was granted by FEMA in recognition of the high standards of oversight and transparency exhibited by COR3 in the audit processes for fund disbursements, referred to as “Validate as You Go,” or VAYGo.
“This expedited closure marks a significant progress as it simplifies the administrative procedures associated with reconstruction efforts and reduces the documentation FEMA requires from COR3 during project closures,” he noted.
“The audit, which examined the fiscal years 2021 and 2022, yielded nearly flawless results, with no errors exceeding 0.001% in the first two quarters of 2021 and 0.0001% in the latter half of that year as well as in 2022,” Laboy stated. “This demonstrates that COR3 is effectively achieving its primary objective of ensuring the proper utilization of recovery funds in accordance with applicable laws and regulations, thereby enhancing our value, credibility, and trust with the federal government.”
He added that this benefit was granted due to the rigorous disbursement protocols enforced by FEMA, which must be fully observed by government agencies, municipalities, and non-profit organizations.
The expedited process removes the necessity for COR3 to submit extensive documentation to FEMA when closing projects for state, municipal, or non-profit entities that have already provided COR3 with all mandated documents during the disbursement process.
FEMA is anticipated to finish the audit for the fiscal year 2023 by the end of December. This expedited closing advantage for Puerto Rico pertains to the closing of projects initiated in the aftermath of hurricanes Irma and Maria in September 2017, as well as all disasters recognized after October 2019, including the COVID-19 pandemic.
