Comptroller reports favorable opinion on the evaluation performed
of the Special Corporation for Housing Development of Toa Baja
San Juan, Puerto Rico (July 17, 2026) — The Comptroller of Puerto Rico, CPA and Attorney Carmen Vega Fournier, reported today the results of a specific-scope audit of the Special Corporation for Housing Development of Toa Baja (CDVTB). The report reflects a favorable opinion on the tests performed and contains no findings. However, the Comptroller makes two observations regarding the corporation’s financial projection and the delays in submitting the monthly reports required by Act No. 103, which establishes the Registry of Positions at the Office of the Comptroller of Puerto Rico (OCPR).
In the period audited from January 1, 2020 to October 31, 2025, the Corporation completed the sale of the Golden Age Tower senior housing facility; the transaction was for $7.5 million, from which it received net proceeds of $6,160,900. Those funds were deposited into the CDVTB’s operating account, and since they were not restricted to a specific purpose, these resources have been applied to cover the Corporation’s operating expenses. The Comptroller warns of the entity’s financial vulnerability because it places the continuity of operations at risk as of 2039, which would be considered a significant risk.
The second special comment notes the delay in submitting the monthly payroll and positions reports to the OCPR. These reports must be submitted no later than thirty (30) consecutive days after the end of the month. Our examination revealed that, from August 14, 2020 to December 22, 2025, 44 (62%) registries of positions were submitted with delays ranging between eight (8) and 347 days.
The Comptroller recommended that the corporation’s executive director strengthen the generation of recurring revenue and optimize the expenditure structure by analyzing projected disbursements in order to identify savings and reduce unnecessary expenses. She also urged the Mayor to take the administrative measures necessary to prevent the situations commented on from recurring and to prepare and submit to the OCPR the Registry of Positions within the established time frame as required by the Fiscal Reform Act of 2006 and the Registry of Positions Regulation of 2008.
Audit Report OC-27-07 is available at www.ocpr.gov.pr.
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