The PROMESA oversight board is proposing an aggressive schedule for revising the fiscal plans for the Puerto Rico government and six instrumentalities, with a target date for the commonwealth revision set for Jan. 30, 2018, according to a draft agenda of next week’s public meeting reviewed by Reorg Research.

According to the draft agenda, the board has set a Nov. 30 deadline for the fiscal plan revisions for the following entities: the Puerto Rico Aqueduct and Sewer Authority, or PRASA; the Puerto Rico Highways and Transportation Authority, or HTA; the Government Development Bank, or GDB; the University of Puerto Rico, or UPR; and the Public Corporation for the Supervision and Deposit Insurance of Puerto Rico Cooperatives, or COSSEC. The deadline to file the Puerto Rico Electric Power Authority fiscal plan is set for Dec. 15, according to the draft agenda. The board is slated to both present the fiscal plan revision timetable and approve it during the meeting, according to the draft agenda.

The oversight board has not returned requests for comment regarding next week’s meeting. GDB President Christian Sobrino told Reorg Research on Thursday that the meeting was set for next Tuesday, Oct. 31. The draft agenda also sets the meeting date for Oct. 31.

Both government and board officials have discussed the possible need to revise the certified fiscal plans in the wake of the devastation caused by Hurricane Maria. Creditors are also in agreement that the plans need to be revised. U.S. House Natural Resources Committee chairman Rep. Rob Bishop, R-Utah, said in an interview earlier this month that hurricanes Irma and Maria have changed the dynamics of the commonwealth’s previously certified fiscal plan and that the commonwealth’s fiscal plan will have to be redone. Bishop reiterated the need for an overhaul of the fiscal plan in a recent interview with C-SPAN.

According to the draft agenda, the meeting will also include the following additional items:
 

• A presentation by Sobrino, Gov. Ricardo Rosselló’s representative on the board, that provides an overview on the general status of the island after the storm;
   
• A presentation by the commonwealth government on post-hurricane recovery efforts, including preliminary damage assessments;
   
• A presentation by the Puerto Rico Fiscal Agency and Financial Advisory Authority, or AAFAF, on government finances and liquidity, including key components and municipalities;
   
• A PREPA interim manager presentation by Noel Zamot; and
   
• A presentation on the Puerto Rico debt investigation.

The board is also expected to adopt its audited financial statement and to present its contracting policy during the meeting, according to the draft agenda.