The moneys of the Authority shall be deposited in a recognized depository institution for funds of the Commonwealth of Puerto Rico, but shall be kept in a separate account or accounts in the name of the Authority. Fund disbursements shall be made in accordance with the regulations and budgets approved by the Authority.The Authority, in consultation with the Secretary of the Treasury, shall establish the accounting system required for the proper control and statistical records of income and expenditures pertaining to, or administered or controlled by the Authority. The Authority’s accounts shall be kept in such form as they may be separated to the extent deemed advisable according to the Authority’s different types of operations, projects, undertakings, and activities.Budget appropriations from the General Fund, the Special Integrated Public Transportation Development Fund created under this chapter, the Puerto Rico Special Public Transportation Restructuring Fund created under this chapter, any other special funds under the custody of the Authority created from time to time or any other funds that the Authority may receive from legislative appropriations or provision of law, shall pter, any other special funds under the custody of the Authority created from time to time or any other funds that the Authority may receive from legislative appropriations or provision of law, shall be accounted for in the central accounting system of the Department of the Treasury (PRIFAS) and deposited in the Government Development Bank. Notwithstanding the foregoing, the Office of Management and Budget, the Department of the Treasury, and the Government Development Bank may grant dispensations for the accounting and deposit requirements established in this paragraph with the consent of all three entities. History —Aug. 3, 2014, No. 123, § 6.
Puerto Rico Legal Code