The Financial Oversight and Management Board (JSF) approved a payment plan for the town of Las Marías, Puerto Rico, to settle a $327,078 debt with the Puerto Rico Aqueduct and Sewer Authority (AAA). The Board warned that additional withholdings from the town’s revenue could compromise municipal operations if they are not adjusted to its fiscal capacity.
The authorization appears in a November 5, 2026 letter addressed to Vicky González Vega, director of the Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF). Under the plan, the town will make an initial payment of $50,000. The remaining balance of $277,078 will be covered with 31 monthly payments of $8,650 and a final payment of $8,928, with the debt scheduled to be paid off in November 2028.
The Municipal Revenue Collection Center (CRIM) will deduct the installments from the monthly property tax remittances Las Marías receives and send the money directly to AAA. To carry out the agreement, the town government must authorize these automatic withholdings, which will reduce the revenue it receives monthly from CRIM. According to the Board, the town’s audited financial reports show an improvement in the municipal government’s financial position, including a reduction in long-term debt.
However, General Fund results have not been uniform and reflect a negative balance. The Board’s letter does not explain how the town accumulated such a large debt.