P.R. Laws tit. 22, § 202
All moneys of the Authority shall be deposited in qualified depositories for funds of the Commonwealth Government, but they shall be kept in a separate account or accounts in the name of the Authority. The disbursements shall be made by it pursuant to regulations and budgets approved by the Board.
The Secretary of the Treasury of Puerto Rico shall, upon consultation with the Authority, establish the accounting system required for the proper statistical control and record of all expenses and income belonging to or managed or controlled by the Authority. The said Secretary of the Treasury shall require that the accounts of the Authority be kept in such manner as appropriately to segregate, insofar as advisable, the accounts in respect of the different classes of operations, projects, undertakings, and activities of the Authority, and he shall consider the advisability of requiring the Authority to adopt in whole or in part the system of accounts from time to time prescribed by the Federal Power Commission, or other Federal Authority, for public utilities owning properties and engaged in business similar to the properties and business of the Authority, and the necessity of keeping in accordance with such system of accounts, complete accounts of costs of generation, transmission, and distribution of electric energy and of the total cost of electric generation, transmission and distribution works constructed or otherwise acquired by the Authority and a description of the major components of said costs, together with records of such other physical data and operating statistics as may be helpful in determining the actual cost and value of the services and practices, the methods, facilities, equipment, appliances, and the standards and sizes, types, location and geographical and economic integration of the plants and systems under the control of the Authority which may be best suited to promote the public interest, the efficiency and the wider and more economical use of electric energy; Provided, also, That the said Secretary of the Treasury or his representative shall from time to time, examine the accounts and books of the Authority, including its receipts, disbursements, contracts, leases, sinking funds, investments and any other matters which relate to its financial condition, and shall report thereon to the Board of the Authority and the Legislature.
History —May 2, 1941, No. 83, p. 684, § 12; Apr. 8, 1942, No. 19, p. 330, § 1, eff. 90 days after Apr. 8, 1942.