Federal board approves $12.7 billion budget for Puerto Rico as island shakes off bankruptcy

SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances has approved a $12.7 billion general fund budget that contains increases for teachers, judicial employees and the U.S. territory’s public university. It is the largest budget approved in the island’s history. The majority of funds, $2.6 billion, will go toward education, followed by $1.2 billion for public safety, $600 million for the University of Puerto Rico and $555 million for the island’s health department. Friday’s approval comes after last-minute debates by legislators threatened to derail the proposed budget.