Ley 123 del 2001
Resumen
Esta ley enmienda la Ley de Contabilidad del Gobierno de Puerto Rico para modificar las disposiciones sobre la cancelación y cierre de balances no comprometidos y comprometidos de asignaciones y fondos autorizados para gastos de un año fiscal. Busca canalizar los recursos financieros de manera coordinada y estratégica, revirtiendo una política anterior que permitía mantener estos balances por hasta tres años. La ley establece que los balances no comprometidos se cancelarán y cerrarán al finalizar el año fiscal, y los balances comprometidos permanecerán en los libros por un año antes de ser cerrados. También dispone que los balances de asignaciones de años fiscales anteriores de dependencias del Ejecutivo (con excepciones) se cubrirán en el Fondo General o el Fondo Presupuestario.
Contenido
(No. 123)
(Approved August 17, 2001)
AN ACT
To amend subsections
(a) ,
(c) and
(d) of Section 8 of Act No. 230 of July 23, 1974, denominated "Puerto Rico Government Accounting Act," in order to canalize the financial resources of the country in a coordinated and strategic manner.
STATEMENT OF MOTIVES
The current fiscal situation of Puerto Rico is critical and difficult. The reality of the current fiscal year is, on the one hand, that income has been overestimated; on the other, that expenses have surpassed the budget. In all, it is estimated that there is a $700 million deficiency as of June 30, 2001. Furthermore, to this critical situation we must add the detection of over $1.6 billion in extra-constitutional debt, for which no source of repayment had been provided.
In view of the present fiscal situation of the country, it is indispensable for us to take firm and urgent measures. It is necessary to act immediately. Among the measures necessary, it is imperative to adopt measures that allow for the indispensable adjustments to be made to attain a more efficient administration and to also promote a strict control on the expenses of agencies and departments. It is for this reason that this administration has required government agencies and departments to adopt special measures of administrative strictness which would allow them to balance their budgets.
However, as a result of the approval of Act No. 89 of August 18, 1994, it was allowed for the amounts, whether encumbered or unencumbered, of the appropriations and authorized funds for a fiscal year to continue on the books of the dependencies, rather than being cancelled and closed, up to a maximum of three (3) years after the year provided for their disbursement or the close of the year to which they belong, respectively.
The present reality demands a change in this public policy. This legislation seeks to reinstate the body of laws to the reality prevailing before the approval of Act No. 89 of August 18, 1994. The change in this policy shall allow for the canalization of the financial resources of the country in a coordinated and strategic manner, which are essential elements at times like these. This change shall allow for a true unity of purpose which enables the fulfillment of those initiatives required by the times and which will result in the benefit of one and all.
BE IT ENACTED BY THE LEGISLATURE OF PUERTO RICO:
Section 1.-Subsections
(a) ,
(c) and
(d) of Section 8 of Act No. 230 of July 23, 1994 [sic], as amended, are hereby amended to read as follows: "Section 8.—Public Fund Appropriations.-
(a) All appropriations and funds authorized for the expenditures of a fiscal year shall be applied exclusively to the payment of expenses lawfully incurred during the respective year, or to the payment of obligations legally contracted and duly entered in the books of said year.
(c) Once the fiscal year to which they belong has elapsed, the unencumbered balances of appropriations and funds authorized for
a fiscal year shall be cancelled and closed, taking into account any legal provision in this respect.
(d) The portion of the appropriations and funds authorized for expenditures of a fiscal year, which has not been pledged on or before June 30 of the fiscal year to which said appropriations and funds correspond, shall remain on the books for year [sic] after the expiration of the fiscal year for which they are authorized and henceforth said portion shall not be drawn against by any account.
Immediately after the period of one year has elapsed, the encumbered balances shall be closed, taking into account any legal provision in that respect.
Section 2.—Effective on July $1^{ ext {st }}, 2001$, the balance of appropriations of the General Budget Joint Resolution of previous fiscal years of all dependencies and public instrumentalities of the Executive Branch, available in the accounts of unencumbered balances of the dependencies, up to the amount of thirty-three million (33,000,000) dollars, shall be covered into the General Fund of the Commonwealth Treasury. Any amount in excess of said amount shall be covered into the Budgetary Fund, in order to cover budget deficiencies. As of July $1^{ ext {st }}, 2002$, the entirety of such balances shall be covered into the General Fund of the Commonwealth Treasury. The University of Puerto Rico, the Legislative Branch and the Judicial Branch are hereby exempted from these provisions.
Section 3.-This Act shall take effect immediately after its approval.
CERTIFICATION
I hereby certify to the Secretary of State that the following Act No. 123 (H.B. 1206) of the $1^{ ext {st }}$ Session of the $14^{ ext {th }}$ Legislature of Puerto Rico:
AN ACT to amend subsections
(a) ,
(c) and
(d) of Section 8 of Act No. 230 of July 23, 1974, denominated "Puerto Rico Government Accounting Act," in order to canalize the financial resources of the country in a coordinated and strategic manner, has been translated from Spanish to English and that the English version is correct.
In San Juan, Puerto Rico, today $23^{ ext {rd }}$ of November of 2004.
Elba Rosa Rodríguez-Fuentes Director