PRESS RELEASE
DR. MARIO MARAZZI‐SANTIAGO
EXECUTIVE DIRECTOR

March 28, 2018

AUTHORIZED STATEMENTS BY THE EXECUTIVE DIRECTOR OF THE INSTITUTE OF STATISTICS ON STATEMENTS MADE BY THE EXECUTIVE DIRECTOR OF THE FINANCIAL ADVISORY AUTHORITY AND FISCAL AGENCY OF THE GOVERNMENT OF PUERTO RICO

Faced with the enormous fiscal and credibility challenges facing our Government, we renew our invitation to the Executive Director of AAFAF to demonstrate his real commitment to financial transparency, providing us with access to the “general ledger” of AAFAF and all the other subsidiaries it manages, so that we can incorporate them into the Puerto Rico Financial Transparency System, managed by the Institute: Financial Transparency. pr.

The “general ledger” is the accounting database that records every expense or revenue transaction of an organization. It contains information about who receives each payment, when they receive it, how much they received it and what they received it for.

Since 2016, the Institute has invited all public entities to join the System. So far, AAFAF has shown no interest in participating in the System, despite the fact that this server personally presented the System to AAFAF and invited not only AAFAF to join, but AAFAF to order the entire Government to join.

Globally, more and more countries, states and cities are using open data portals, such as the Financial Transparency System, to report to their citizens on how every penny of public funds is spent. In addition, as soon as the information is recorded in the System, great cost and efficiency are achieved in the management of public financial information.

All the information on the Institute's operating expenses is available there, in an open format that allows data to be downloaded, analyzed and visualized.

For example, one of the lines requested by AAFAF is the expenditure on the employer's contribution to the health insurance of the Institute's employees. If he spent about five minutes, the Director could see that the Institute has spent a large total of $41,844 on health insurance for its employees so far so far in fiscal year 2018:
Fiscal 2018: http://www.transparenciafinanciera.pr/

For more information on the Institute's finances, you can view all of the Institute's audited financial statements, together with the auditing reports that the Office of the Comptroller has carried out on the Institute's finances, at: Mission-and-Vision.

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Press Contact: Sandra Morales Blanes (787) 688-0401

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