Board approves new funding plan for CRIM

Board approves new funding plan for CRIM

The Financial Control Board (JCF) today approved a new financial plan Municipal Revenue Collection Center (CRIM) 2021 fiscal year It plans income 9 1,973 million In collections and reforms in five years.

Like the financial plan for the central government, the financial institution unanimously approved the CRIM plan at the time. The monthly meeting was held this morning.

According to the board, the financial document lists 11 projects that will strengthen the property tax system and translate into income. 9 1,973 million In the period between the fiscal year 2021 and 2026. Among the board’s actions – also proposed in the 2020 financial plan – is the sale of a portfolio of accounts receivable worth about $ 400 million to the public company, the correction of misappropriation of property taxes up to $ 466 million, the valuation of more than 17,000 assets not yet assessed by CRIM and the transfer of $ 26 million to the state-owned enterprise. May earn.

At the end of the meeting, Natalie Zaresko, Managing Director of the Board, hoped that CRIM would be able to comply with these measures. In turn, he dismissed the estimated revenue of $ 1.973 million as too promising.

“I do not think the goal is aggressive, I think it can be done … nothing new, it does not need to change property tax rates. It is true, the government has not implemented anything in the past these changes, so we are [la Junta] Here, but it’s possible, “Jaresco told reporters.

Among the changes, it includes an estimate of more than 230,000 unidentified and new property tax-free assets, Jaresco said. According to the CEO, this could fetch the state-owned company more than $ 500 million over the next five years.

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He said CRIM, along with municipalities, should improve the property tax collection system. Currently, CRIM manages only about 67.7% of property taxes a year, according to the board. CRIM aims to increase this number to 76% in five years. To this end, the document states that by June 2022, CRIM will increase the staff of its collectors by 25%.

For his part, the director of the board agreed with Antonio Medina Zaresko, and said that compliance with these measures is important for the financial health of municipalities. “It is very important to do this better. Municipalities do not have enough funds and these measures are necessary to ensure good governance,” he said.

Goresco, for his part, pointed out that municipalities – as CRIM executives – should encourage these measures if they want to improve their respective financial outlook in the coming years. “Municipalities are aware of their financial situation and have revealed how difficult it has been for them over the years. But CRIM is managed by municipalities. If they understand that they are facing a complex financial situation, they should first want to implement these measures, especially the way they collect property taxes,” he said. Said.

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Will Smith

About the Author: Will Smith

Alfred Lee covers public and private tech markets from New York. He was previously a Knight-Bagehot Fellow in Economics and Business Journalism at Columbia University, and prior to that was a reporter at the Los Angeles Business Journal. He has received a Journalist of the Year award from the L.A. Press Club and an investigative reporting award from the Society of American Business Editors and Writers.

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