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LEGAL AUTHORITY
Act. 17 of September 23, 1948,
as amended, created the Government Development Bank for Puerto Rico (GDB), as a governmental instrumentality's corporation.
MISSION
To safeguard the fiscal stability of Puerto Rico and promote its competitiveness in order to transform our economy into one of the most developed economies in the world, hence, fostering the social and economic enhancement of our people. Serve a as bank, fiscal agent and financial advisor for the Government of Puerto Rico, and its instrumentalities.
ORGANIZATIONAL STRUCTURE
- Administration, Operations and Comptrollership Area
- Auditor's Office
- Board of Directors
- Communications Office
- Financing Area
- Fiscal Agency Area
- General Counsel's Office
- Human Resources and Labor Relations Office
- Office of the Chief Operating Officer
- Office of the President
Subsidiaries and Affiliates
- Children's Trust
- Government Development Bank for Puerto Rico Capital Fund
- Jose M. Berrocal Finance and Economy Institute
- Puerto Rico Development Fund
- Puerto Rico Housing Financing Authority
- Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority (AFICA, Spanish acronym)
- Puerto Rico Infrastructure Financing Authority (AFI, Spanish acronym)
- Puerto Rico Municipal Finance Agency
- Puerto Rico Public Finance Corporation
- Puerto Rico Public-Private Partnership Authority
- Puerto Rico Sales Tax Financing Corporation (COFINA, Spanish acronym)
- Puerto Rico Tourism Development Fund
Attached
- Puerto Rico Telephone Authority
- Puerto Rico Telephone Authority Holdings Corporation
- Special Communities Trust Fund
- ULTRACOM (Telecomunicaciones Ultramarinas de Puerto Rico)
PROGRAM
Public and Private Sectors Financing and Counseling
Program Description
Provides financing alternatives to private companies and public instrumentalities through loans, guarantees, capitalization and others services. It also acts as fiscal agent and consultant to the public sector and the municipalities, funds trustee and designs investment mechanisms for public funds. Provides fiscal and financing counseling to public corporations, municipalities and the central government.
Customers
Agencies, corporations, municipalities and public sector entities; and entrepreneurs, corporations and other entities of the private sector.
FISCAL YEAR 2012-2013 PROPOSED BUDGET
The proposed consolidated budget for Fiscal Year 2012-2013 amounts to $63,815,000 in revenues from Internal Sources generated from loan interests.
The proposed budget will allow the Bank to continue the design and implementation of finance and investment strategies that contribute to the development of feasible self-sufficient projects and economic activities that create jobs.
The Bank's reserve provisions and contributions to the Central Government, to social and to economic institutions are not considered in the operational expenses category.
SUMMARY OF AVAILABLE RESOURCES
| Consolidated Budget (thousands $) |
2010 |
2011 |
2012 |
2013 |
|
| Program |
|
| Operational Expenses |
Actual |
Actual |
Budget |
Proposed |
| Public and Private Sectors Financing and Counseling |
62,397 |
59,633 |
49,394 |
63,815 |
| Subtotal, Operational Expenses |
62,397 |
59,633 |
49,394 |
63,815 |
| |
| Subsidies, Incentives and Donations |
| Public and Private Sectors Financing and Counseling |
3,710 |
0 |
0 |
0 |
| Subtotal, Subsidies, Incentives and Donations |
3,710 |
0 |
0 |
0 |
| Total, Program |
66,107 |
59,633 |
49,394 |
63,815 |
| |
| Funding Sources |
|
| Operational Expenses |
|
| Other Income |
15,000 |
0 |
0 |
0 |
| Revenues from Internal Sources |
47,397 |
59,633 |
49,394 |
63,815 |
| Subtotal, Operational Expenses |
62,397 |
59,633 |
49,394 |
63,815 |
| |
| Subsidies, Incentives and Donations |
|
| Revenues from Internal Sources |
3,710 |
0 |
0 |
0 |
| Subtotal, Subsidies, Incentives and Donations |
3,710 |
0 |
0 |
0 |
| Total, Funding Sources |
66,107 |
59,633 |
49,394 |
63,815 |
| |
| Expense Category |
|
| Operational Expenses |
|
| Payroll and Related Expenses |
22,607 |
22,875 |
21,101 |
23,684 |
| Rent and Utilities |
2,882 |
6,099 |
7,011 |
8,439 |
| Purchased Services |
1,612 |
2,125 |
2,158 |
2,592 |
| Transportation Expenses |
120 |
89 |
106 |
192 |
| Professional Services |
5,741 |
4,539 |
6,347 |
9,057 |
| Other Expenses |
21,282 |
7,794 |
3,797 |
4,105 |
| Equipment Purchases |
1,712 |
2,626 |
2,160 |
2,274 |
| Office Supplies and other Materials |
201 |
242 |
229 |
273 |
| Budget Reserve |
6,240 |
13,244 |
6,485 |
13,199 |
| Subtotal, Operational Expenses |
62,397 |
59,633 |
49,394 |
63,815 |
| |
| Subsidies, Incentives and Donations |
|
| Contributions to Non Governmental Entities |
3,710 |
0 |
0 |
0 |
| Subtotal, Subsidies, Incentives and Donations |
3,710 |
0 |
0 |
0 |
| Total, Expense Category |
66,107 |
59,633 |
49,394 |
63,815 |
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