Exhibit C 1 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Porepa,Jodi JP Senior Manager 1-Feb-18 T3 - Long-Term Projections Review and analyze Office of Chief Financial Officer best practices. 2.60 $ 701.00 $ 1,822.60 

Chepenik,Adam Brandon AC Partner/Principal 1-Feb-18 T3 -Creditor Mediation Support Prepare and respond to questions on union role in fiscal plan and key 

parties.

 0.20 $ 845.00 $ 169.00 

Chepenik,Adam Brandon AC Partner/Principal 1-Feb-18 T3 - Long-Term Projections Review tax projections for S Negron Reichard (Board.) 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 1-Feb-18 T3 -Creditor Mediation Support Call with A Chepenik (EY) and J Santambrogio (EY) to discuss creditor 

mediation work streams and fiscal plan negotiation.

 0.30 $ 845.00 $ 253.50 

Santambrogio,Juan JS Executive Director 1-Feb-18 T3 -Creditor Mediation Support Call with A Chepenik (EY) and J Santambrogio (EY) to discuss creditor 

mediation work streams and fiscal plan negotiation.

 0.30 $ 788.00 $ 236.40 

Chepenik,Adam Brandon AC Partner/Principal 1-Feb-18 T3 - Long-Term Projections Review fiscal plan projections and long-term projections. 1.10 $ 845.00 $ 929.50 

Chepenik,Adam Brandon AC Partner/Principal 1-Feb-18 T3 - Long-Term Projections Prepare and respond to M Tullia (Board) on pension forecast data. 0.40 $ 845.00 $ 338.00 

Hymovitz Cardona,Pablo S CH Executive Director 1-Feb-18 T3 - Long-Term Projections Discuss information request related to tax forms filed in PR. 0.50 $ 788.00 $ 394.00 

Mackie,James JM Executive Director 1-Feb-18 T3 - Long-Term Projections Review prior EY analsis of the effect of US tax reform on companies in PR 2.90 $ 788.00 $ 2,285.20 

Panagiotakis,Sofia SP Manager 1-Feb-18 T3 - Long-Term Projections Prepare summary of pension estimate in the General Fund and outside of 

the General Fund as requested by M. Tullia (Board)

 1.20 $ 578.00 $ 693.60 

Panagiotakis,Sofia SP Manager 1-Feb-18 T3 - Long-Term Projections Review materials provided by BDO regarding pension estimates to provide 

explanation to M. Tullia's question.

 0.60 $ 578.00 $ 346.80 

Panagiotakis,Sofia SP Manager 1-Feb-18 T3 - Long-Term Projections Review the revised fiscal plan model to understand changes and identify 

potential issues. 

 1.70 $ 578.00 $ 982.60 

Panagiotakis,Sofia SP Manager 1-Feb-18 T3 - Long-Term Projections Draft email to team summarizing potential concerns with revised fiscal plan 

model projections

 0.40 $ 578.00 $ 231.20 

Santambrogio,Juan JS Executive Director 1-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Atlanta, GA to New York, NY 2.50 $ 394.00 $ 985.00 

Panagiotakis,Sofia SP Manager 1-Feb-18 T3 - Long-Term Projections Participate in call with J. Santambrogio (EY) and S. Panagiotakis (EY) to 

discuss potential risks in the revised fiscal plan.

 0.40 $ 578.00 $ 231.20 

Santambrogio,Juan JS Executive Director 1-Feb-18 T3 - Long-Term Projections Participate in call with J. Santambrogio (EY) and S. Panagiotakis (EY) to 

discuss potential risks in the revised fiscal plan.

 0.40 $ 788.00 $ 315.20 

Santiago,Karol I. KS Manager 1-Feb-18 T3 - Long-Term Projections Assist with questions pursuant to Act 

154 excise tax and PRTD income tax forms 

and data to be requested for analysis

 2.50 $ 578.00 $ 1,445.00 

Burr,Jeremy JB Senior 1-Feb-18 T3 - Long-Term Projections Prepare comparison analysis of the monthly revenue forecasts provided in a 

reorg research press release versus FOMB records

 1.80 $ 430.00 $ 774.00 

Aldana Herbas,Jose 

Alberto

HA Staff 1-Feb-18 T3 - Long-Term Projections Prepare comparison of General Fund net revenues based on various sources 

(EY, AAFAF and Hacienda)

 1.60 $ 236.00 $ 377.60 

Panagiotakis,Sofia SP Manager 1-Feb-18 T3 - Long-Term Projections Review the monthly estimate of general fund revenues to determine how 

the Board's requested changes in June were layered in.

 0.60 $ 578.00 $ 346.80 

Yano,Brian BY Senior Manager 1-Feb-18 T3 - Long-Term Projections Review notes on fiscal plan to budget coordination for certain 

Commonwealth and instrumentality matters

 0.30 $ 701.00 $ 210.30 

Chepenik,Adam Brandon AC Partner/Principal 2-Feb-18 T3 - Long-Term Projections Participate in Board prep session for negotiations over long-term 

projections in fiscal plan with Governor. Session led by N Jaresko (Board). 

Joined by J Santambrogio (EY)

 3.00 $ 845.00 $ 2,535.00 

Chepenik,Adam Brandon AC Partner/Principal 2-Feb-18 T3 - Long-Term Projections Participate in negotiation with Governor over long-term projections in fiscal 

plan . Session led by N Jaresko (Board). Joined by J Santambrogio (EY).

 5.00 $ 845.00 $ 4,225.00 

Chepenik,Adam Brandon AC Partner/Principal 2-Feb-18 T3 - Long-Term Projections Participate in Board debrief session over long-term projections in fiscal 

plan. Led by N Jaresko (Board). Joined by J Santambrogio (EY).

 1.50 $ 845.00 $ 1,267.50 

Santambrogio,Juan JS Executive Director 2-Feb-18 T3 - Long-Term Projections Participate in Board prep session for negotiations over long-term 

projections in fiscal plan with Governor. Session led by N Jaresko (Board). 

Joined by A Chepenik (EY)

 3.00 $ 788.00 $ 2,364.00 

Santambrogio,Juan JS Executive Director 2-Feb-18 T3 - Long-Term Projections Participate in negotiation with Governor over long-term projections in fiscal 

plan . Session led by N Jaresko (Board). Joined by A Chepenik (EY). 

 5.00 $ 788.00 $ 3,940.00 

Santambrogio,Juan JS Executive Director 2-Feb-18 T3 - Long-Term Projections Participate in Board debrief session over long-term projections in fiscal 

plan. Led by N Jaresko (Board). Joined by A Chepenik (EY). 

 1.50 $ 788.00 $ 1,182.00 

Chepenik,Adam Brandon AC Partner/Principal 2-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to Washington, DC 4.00 $ 422.50 $ 1,690.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 1 of 55
Exhibit C 2 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Koch,Cathleen M CK Partner/Principal 2-Feb-18 T3 -Creditor Mediation Support Analyze the impact on investment of the Opp Zone provision based on JCT 

analysis

 2.00 $ 845.00 $ 1,690.00 

Panagiotakis,Sofia SP Manager 2-Feb-18 T3 - Long-Term Projections Review revised pension information provided by BDO to explain paygo 

outside of the general fund.

 0.30 $ 578.00 $ 173.40 

Panagiotakis,Sofia SP Manager 2-Feb-18 T3 - CBA/Labor Agreements Draft deck on labor negotiations and key issues for Natalie Jaresko (Board) 1.80 $ 578.00 $ 1,040.40 

Loh,Carmen Chng Wen CL Senior 2-Feb-18 T3 - Long-Term Projections Prepare schedule of Board vs. Commonwealth labor reforms 2.40 $ 430.00 $ 1,032.00 

Loh,Carmen Chng Wen CL Senior 2-Feb-18 T3 - CBA/Labor Agreements Review sample analysis on labor and union reforms from previous cases for 

adaptation to Puerto Rico 

 1.40 $ 430.00 $ 602.00 

Loh,Carmen Chng Wen CL Senior 2-Feb-18 T3 - CBA/Labor Agreements Participate in call with C. Loh (EY) and S. Panagiotakis (EY) to discuss the 

labor union presentation. 

 1.30 $ 430.00 $ 559.00 

Panagiotakis,Sofia SP Manager 2-Feb-18 T3 - CBA/Labor Agreements Participate in call with C. Loh (EY) and S. Panagiotakis (EY) to discuss the 

labor union presentation. 

 0.90 $ 578.00 $ 520.20 

Panagiotakis,Sofia SP Manager 2-Feb-18 T3 - CBA/Labor Agreements Review the fiscal plan powerpoint documents on the fiscal plan prepared by 

McKinsey and by the Government to determine how unions and labor is 

treated withing in the fiscal plan.

 0.80 $ 578.00 $ 462.40 

Panagiotakis,Sofia SP Manager 2-Feb-18 T3 - CBA/Labor Agreements Review materials sent by J. Santambrogio (EY) on the Detroit labor 

negotiations to draft case study for PR. 

 0.60 $ 578.00 $ 346.80 

Panagiotakis,Sofia SP Manager 2-Feb-18 T3 - CBA/Labor Agreements Review documents from A Chepenik (EY) to understand how unions were 

affected by PROMESA to updated the labor union deck for N Jaresko 

(Board)

 0.30 $ 578.00 $ 173.40 

Chepenik,Adam Brandon AC Partner/Principal 3-Feb-18 T3 -Creditor Mediation Support Review creditor mediation fiscal plan materials. 0.80 $ 845.00 $ 676.00 

Panagiotakis,Sofia SP Manager 3-Feb-18 T3 - Long-Term Projections Participate in mediation meeting with Government and Board advisors, 

various creditors, J. Santambrogio (EY), B. Yano (EY) and S. Panagiotakis 

(EY) Left meeting early

 2.90 $ 578.00 $ 1,676.20 

Santambrogio,Juan JS Executive Director 3-Feb-18 T3 - Long-Term Projections Participate in mediation session with creditors and advisors - PREPA 

(Partial attendence)

 2.20 $ 788.00 $ 1,733.60 

Yano,Brian BY Senior Manager 3-Feb-18 T3 -Creditor Mediation Support Attend creditor mediation meeting on fiscal plan matters 5.40 $ 701.00 $ 3,785.40 

Santambrogio,Juan JS Executive Director 3-Feb-18 T3 - Long-Term Projections Participate in mediation session with creditors and advisors - 

Commonwealth Fiscal Plan

 4.10 $ 788.00 $ 3,230.80 

Santambrogio,Juan JS Executive Director 3-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to Atlanta, GA 2.50 $ 394.00 $ 985.00 

Panagiotakis,Sofia SP Manager 3-Feb-18 T3 - CBA/Labor Agreements Review revised labor presentation finalized by A. Chepenik. 0.30 $ 578.00 $ 173.40 

Chepenik,Adam Brandon AC Partner/Principal 4-Feb-18 T3 -Creditor Mediation Support Prepare materials on labor negotiations for N Jaresko (Board). 1.40 $ 845.00 $ 1,183.00 

Porepa,Jodi JP Senior Manager 5-Feb-18 T3 - Long-Term Projections Update analysis on best accounting practices in the US. 2.30 $ 701.00 $ 1,612.30 

Porepa,Jodi JP Senior Manager 5-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to San Juan, PR 4.00 $ 350.50 $ 1,402.00 

Santambrogio,Juan JS Executive Director 5-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Atlanta to San Juan 3.50 $ 394.00 $ 1,379.00 

Loh,Carmen Chng Wen CL Senior 5-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from home to client site for meetings in San Juan, Puerto Rico 6.20 $ 215.00 $ 1,333.00 

Chepenik,Adam Brandon AC Partner/Principal 5-Feb-18 T3 -Creditor Mediation Support Finalize materials on labor presentation for N Jaresko (Board). 2.50 $ 845.00 $ 2,112.50 

Chepenik,Adam Brandon AC Partner/Principal 5-Feb-18 T3 -Creditor Mediation Support Call with J Santambrogio (EY), G Malhotra (EY), and A Chepenik (EY) to 

discuss labor negotiation materials for N Jaresko (Board).

 0.30 $ 845.00 $ 253.50 

Malhotra,Gaurav GM Partner/Principal 5-Feb-18 T3 -Creditor Mediation Support Call with J Santambrogio (EY), G Malhotra (EY), and A Chepenik (EY) to 

discuss labor negotiation materials for N Jaresko (Board).

 0.30 $ 845.00 $ 253.50 

Santambrogio,Juan JS Executive Director 5-Feb-18 T3 -Creditor Mediation Support Call with J Santambrogio (EY), G Malhotra (EY), and A Chepenik (EY) to 

discuss labor negotiation materials for N Jaresko (Board).

 0.30 $ 788.00 $ 236.40 

Chepenik,Adam Brandon AC Partner/Principal 5-Feb-18 T3 -Creditor Mediation Support Call with E Trigo (O'Neill) to discuss labor agreements. 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 5-Feb-18 T3 -Creditor Mediation Support Call with J Santambrogio and A Chepenik (EY) to discuss labor negotiation 

materials for N Jaresko (Board).

 0.50 $ 845.00 $ 422.50 

Santambrogio,Juan JS Executive Director 5-Feb-18 T3 -Creditor Mediation Support Call with J Santambrogio and A Chepenik (EY) to discuss labor negotiation 

materials for N Jaresko (Board).

 0.50 $ 788.00 $ 394.00 

Chepenik,Adam Brandon AC Partner/Principal 5-Feb-18 T3 - Long-Term Projections Participate in call with G Malhotra (EY), A Chepenik (EY), J Santambrogio 

(EY), K Rifkind (Board), J El Koury (Board), N Jaresko (Board), M Tullia 

(Board) to discuss Unions Discussion and Lessons Learned from Detroit.

 1.00 $ 845.00 $ 845.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 2 of 55
Exhibit C 3 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Malhotra,Gaurav GM Partner/Principal 5-Feb-18 T3 - Long-Term Projections Participate in call with G Malhotra (EY), A Chepenik (EY), J Santambrogio 

(EY), K Rifkind (Board), J El Koury (Board), N Jaresko (Board), M Tullia 

(Board) to discuss Unions Discussion and Lessons Learned from Detroit.

 1.00 $ 845.00 $ 845.00 

Santambrogio,Juan JS Executive Director 5-Feb-18 T3 - Long-Term Projections Participate in call with G Malhotra (EY), A Chepenik (EY), J Santambrogio 

(EY), K Rifkind (Board), J El Koury (Board), N Jaresko (Board), M Tulla 

(Board) to discuss Unions Discussion and Lessons Learned from Detroit.

 1.00 $ 788.00 $ 788.00 

Burr,Jeremy JB Senior 5-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Chicago, IL to San Juan, PR 6.00 $ 215.00 $ 1,290.00 

Loh,Carmen Chng Wen CL Senior 5-Feb-18 T3 - Long-Term Projections Review voluntary transition programs and associated laws in relation to 

Fiscal Plan projections

 0.80 $ 430.00 $ 344.00 

Yano,Brian BY Senior Manager 5-Feb-18 T3 - Long-Term Projections Provide feedback on current version of FY19 budget milestone #3 for 

instrumentalities

 0.60 $ 701.00 $ 420.60 

Yano,Brian BY Senior Manager 5-Feb-18 T3 - Long-Term Projections Review existing B2A reporting templates to prepare for 02/06 meeting 0.80 $ 701.00 $ 560.80 

Panagiotakis,Sofia SP Manager 5-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to San Juan, PR 4.00 $ 289.00 $ 1,156.00 

Aldana Herbas,Jose 

Alberto

HA Staff 5-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to San Juan, PR 4.00 $ 118.00 $ 472.00 

Panagiotakis,Sofia SP Manager 5-Feb-18 T3 - CBA/Labor Agreements Review the final version of the labor negotiations analysis to provide 

comments.

 0.70 $ 578.00 $ 404.60 

Loh,Carmen Chng Wen CL Senior 5-Feb-18 T3 - Long-Term Projections Review instrumentalities fiscal plan for revision of revise FY19 budget-toactual reporting guidelines for instrumentalities  0.90 $ 430.00 $ 387.00 

Panagiotakis,Sofia SP Manager 5-Feb-18 T3 - Long-Term Projections Analyze the ASES budget in comparison to the original Fiscal Plan and the 

revised government plan. 

 0.60 $ 578.00 $ 346.80 

Santambrogio,Juan JS Executive Director 6-Feb-18 T3 - Long-Term Projections Analyze reconciliation of budget to Fiscal Plan to be presented to Board 

staff

 2.40 $ 788.00 $ 1,891.20 

Santambrogio,Juan JS Executive Director 6-Feb-18 T3 - Long-Term Projections Participate in meeting with McKinsey, J. Santambrogio (EY) and S. 

Panagiotakis (EY) to discuss the Board's revised fiscal plan and the 

reconciliation to the FY18 budget.

 2.10 $ 788.00 $ 1,654.80 

Panagiotakis,Sofia SP Manager 6-Feb-18 T3 - Long-Term Projections Participate in meeting with McKinsey, J. Santambrogio (EY) and S. 

Panagiotakis (EY) to discuss the Board's revised fiscal plan and the 

reconciliation to the FY18 budget

 2.10 $ 578.00 $ 1,213.80 

Burr,Jeremy JB Senior 6-Feb-18 T3 - Long-Term Projections Participate in call on Oil & Tire - Follow up discussion on next steps with 

M Tulla (Board), J Porepa (EY), J Burr (EY), and A Chepenik (EY).

 0.50 $ 430.00 $ 215.00 

Chepenik,Adam Brandon AC Partner/Principal 6-Feb-18 T3 - Long-Term Projections Participate in call on Oil & Tire - Follow up discussion on next steps with 

M Tulla (Board), J Porepa (EY), J Burr (EY), and A Chepenik (EY).

 0.50 $ 845.00 $ 422.50 

Porepa,Jodi JP Senior Manager 6-Feb-18 T3 - Long-Term Projections Participate in call on Oil & Tire - Follow up discussion on next steps with 

M Tulla (Board), J Porepa (EY), J Burr (EY), and A Chepenik (EY).

 0.50 $ 701.00 $ 350.50 

Chepenik,Adam Brandon AC Partner/Principal 6-Feb-18 T3 -Creditor Mediation Support Call with S Auton-Smith (EY) and A Chepenik (EY) to discuss PREPA 

projections and fiscal plan approach.

 0.40 $ 845.00 $ 338.00 

Auton-Smith,Stephen John SA Executive Director 6-Feb-18 T3 -Creditor Mediation Support Call with S Auton-Smith (EY) and A Chepenik (EY) to discuss PREPA 

projections and fiscal plan approach.

 0.40 $ 788.00 $ 315.20 

Chepenik,Adam Brandon AC Partner/Principal 6-Feb-18 T3 - Long-Term Projections Prepare response to NCUA on COSSEC long-term fiscal plan. 0.70 $ 845.00 $ 591.50 

Chepenik,Adam Brandon AC Partner/Principal 6-Feb-18 T3 -Creditor Mediation Support Prepare materials on FY2015 CAFR and send to partner. 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 6-Feb-18 T3 - Long-Term Projections Participate in discussion with N Jaresko (Board) and S O'Rorke (Mckinsey) 

on bridges from FP1.0 to 2.0s to FY18 Budget. 

 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 6-Feb-18 T3 - Long-Term Projections Call with A Mendez (AAFAF) to discuss long-term pension assumptions 

and federal funding.

 0.40 $ 845.00 $ 338.00 

Hymovitz Cardona,Pablo S CH Executive Director 6-Feb-18 T3 - Long-Term Projections Internal discussion with A Chepenik (EY) in RE FOMB informative return 

queries.

 0.50 $ 788.00 $ 394.00 

Chepenik,Adam Brandon AC Partner/Principal 6-Feb-18 T3 - Long-Term Projections Internal discussion with P Hymovitz (EY) in RE FOMB informative return 

queries.

 0.50 $ 845.00 $ 422.50 

Porepa,Jodi JP Senior Manager 6-Feb-18 T3 - Fee Applications / Retention Review time detail for 2nd interim fee application 0.90 $ 701.00 $ 630.90 

Santiago,Karol I. KS Manager 6-Feb-18 T3 - Long-Term Projections Assist with understanding PRTD forms to determine data needed for 

analisis

 1.00 $ 578.00 $ 578.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 3 of 55
Exhibit C 4 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Suarez Archilla,Noeliz AS Senior 6-Feb-18 T3 - Long-Term Projections Assisit client regarding information to be requested to the PRTD pursuant 

to withholding made on royalty payments to non residents 

 1.50 $ 430.00 $ 645.00 

Panagiotakis,Sofia SP Manager 6-Feb-18 T3 - Long-Term Projections Revise the reconciliation of the budget to the original fiscal plan as 

requested by M. Tullia (Board) to include more details in the bridge, 

revenue and on the ASES funding

 1.80 $ 578.00 $ 1,040.40 

Santambrogio,Juan JS Executive Director 6-Feb-18 T3 - Long-Term Projections Participate in meeting with M. Tulla (Board), J.Santambrogio (EY), and S. 

Panagiotakis (EY) to discuss the reconciliation of the budget to the fiscal 

plan.

 1.10 $ 788.00 $ 866.80 

Panagiotakis,Sofia SP Manager 6-Feb-18 T3 - Long-Term Projections Participate in meeting with M. Tullia (Board), J.Santambrogio (EY), and S. 

Panagiotakis (EY) to discuss the reconciliation of the budget to the fiscal 

plan.

 1.10 $ 578.00 $ 635.80 

Santambrogio,Juan JS Executive Director 6-Feb-18 T3 - Long-Term Projections Review requirements for GASB 77 filing related to tax incentives reporting 

at the request of the FOMB

 0.60 $ 788.00 $ 472.80 

Panagiotakis,Sofia SP Manager 6-Feb-18 T3 - Long-Term Projections Review McKinsey's reconciliation of the Board's fiscal plan to the FY18 

budget to prepare for a meeting with McKinsey on this topic.

 0.70 $ 578.00 $ 404.60 

Santambrogio,Juan JS Executive Director 6-Feb-18 T3 - Long-Term Projections Participate in meeting with J. Santambrogio (EY) and S. Panagiotakis (EY) 

to discuss the reconciliation of the budget to the fiscal plan.

 0.50 $ 788.00 $ 394.00 

Panagiotakis,Sofia SP Manager 6-Feb-18 T3 - Long-Term Projections Participate in meeting with J. Santambrogio (EY) and S. Panagiotakis (EY) 

to discuss the reconciliation of the budget to the fiscal plan.

 0.50 $ 578.00 $ 289.00 

Santambrogio,Juan JS Executive Director 7-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to Atlanta, GA 3.50 $ 394.00 $ 1,379.00 

Yano,Brian BY Senior Manager 7-Feb-18 T3 - Long-Term Projections Review of latest PRASA fiscal plan draft to address matters with FY19 

budget

 1.50 $ 701.00 $ 1,051.50 

Santambrogio,Juan JS Executive Director 7-Feb-18 T3 - Long-Term Projections Participate in discussion with N Jaresko (Board) on bridges from FP1.0 to 

2.0s to FY18 Budget. Joined by J Satanmbrogio (EY), S Panagiatakas 

(EY) A Chepenik (EY) and S O'Rorke (Mckinsey)

 1.60 $ 788.00 $ 1,260.80 

Chepenik,Adam Brandon AC Partner/Principal 7-Feb-18 T3 - Long-Term Projections Participate in discussion with N Jaresko (Board) on bridges from FP1.0 to 

2.0s to FY18 Budget. Joined by J Satanmbrogio (EY), S Panagiatakas 

(EY), A Chepenik (EY), and S O'Rorke (Mckinsey).

 1.60 $ 845.00 $ 1,352.00 

Panagiotakis,Sofia SP Manager 7-Feb-18 T3 - Long-Term Projections Participate in discussion with N Jaresko (Board) on bridges from FP1.0 to 

2.0s to FY18 Budget. Joined by J Satanmbrogio (EY), S Panagiatakas 

(EY), A Chepenik (EY), and S O'Rorke (Mckinsey).

 1.60 $ 578.00 $ 924.80 

Chepenik,Adam Brandon AC Partner/Principal 7-Feb-18 T3 - Long-Term Projections Discussion call with A.Chepenik (EY), J.Santambrogio (EY) and C.Loh 

(EY) on preparation of incentives analysis in relation to Fiscal Plan 

projections

 0.60 $ 845.00 $ 507.00 

Santambrogio,Juan JS Executive Director 7-Feb-18 T3 - Long-Term Projections Discussion call with A.Chepenik (EY), J.Santambrogio (EY) and C.Loh 

(EY) on preparation of incentives analysis in relation to Fiscal Plan 

projections

 0.60 $ 788.00 $ 472.80 

Loh,Carmen Chng Wen CL Senior 7-Feb-18 T3 - Long-Term Projections Discussion call with A.Chepenik (EY), J.Santambrogio (EY) and C.Loh 

(EY) on preparation of incentives analysis in relation to Fiscal Plan 

projections

 0.60 $ 430.00 $ 258.00 

Chepenik,Adam Brandon AC Partner/Principal 7-Feb-18 T3 - Long-Term Projections Prepare and circulate tax incentive materials. 0.40 $ 845.00 $ 338.00 

Hymovitz Cardona,Pablo S CH Executive Director 7-Feb-18 T3 - Long-Term Projections Discussion with A Chepenik (EY) in regards to PR tax incentives and Act 

154.

 0.50 $ 788.00 $ 394.00 

Chepenik,Adam Brandon AC Partner/Principal 7-Feb-18 T3 - Long-Term Projections Discussionwith P Hymovitz (EY) in regards to PR tax incentives and Act 

154.

 0.50 $ 845.00 $ 422.50 

Santambrogio,Juan JS Executive Director 7-Feb-18 T3 - Long-Term Projections Discussion call with A.Chepenik (EY), J.Santambrogio (EY) and C.Loh 

(EY) on preparation of incentives analysis in relation to Fiscal Plan 

projections

 0.60 $ 788.00 $ 472.80 

Loh,Carmen Chng Wen CL Senior 7-Feb-18 T3 - Long-Term Projections Discussion call with A.Chepenik (EY), J.Santambrogio (EY) and C.Loh 

(EY) on preparation of incentives analysis in relation to Fiscal Plan 

projections

 0.60 $ 430.00 $ 258.00 

Chepenik,Adam Brandon AC Partner/Principal 7-Feb-18 T3 - Long-Term Projections Discussion call with A.Chepenik (EY), J.Santambrogio (EY) and C.Loh 

(EY) on preparation of incentives analysis in relation to Fiscal Plan 

projections

 0.60 $ 845.00 $ 507.00 

Loh,Carmen Chng Wen CL Senior 7-Feb-18 T3 - Long-Term Projections Prepare incentives analysis in relation to Fiscal Plan projections 2.30 $ 430.00 $ 989.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 4 of 55
Exhibit C 5 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Loh,Carmen Chng Wen CL Senior 7-Feb-18 T3 - Long-Term Projections Review incentives laws for corporations for analysis in relation to Fiscal 

Plan projections

 1.90 $ 430.00 $ 817.00 

Loh,Carmen Chng Wen CL Senior 7-Feb-18 T3 - Long-Term Projections Review incentives laws for individuals for analysis in relation to Fiscal Plan 

projections

 1.20 $ 430.00 $ 516.00 

Panagiotakis,Sofia SP Manager 7-Feb-18 T3 - Long-Term Projections Participate in meeting with Conway, Rothschild, McKinsey to discuss the 

fiscal plan baseline projections.

 1.10 $ 578.00 $ 635.80 

Panagiotakis,Sofia SP Manager 7-Feb-18 T3 - Long-Term Projections Participate in meeting with McKinsey to discuss the Board's fiscal plan and 

the variances to the original fiscal plan.

 0.30 $ 578.00 $ 173.40 

Panagiotakis,Sofia SP Manager 7-Feb-18 T3 - Long-Term Projections Prepare for meeting with McKinsey and Government advisors by reviewing 

the Government's plan and preparing questions for the baseline.

 0.90 $ 578.00 $ 520.20 

Rodriguez-Ramos,Rosa M. RR Executive Director 7-Feb-18 T3 - Long-Term Projections Prepare comments on opportunity zone provisions reviewing how the 

provisions could impact/ be applicable to PR operations.

 0.30 $ 788.00 $ 236.40 

Yano,Brian BY Senior Manager 7-Feb-18 T3 - Long-Term Projections Discussion call with M.Bartok (PRASA), E.Acosta (PRASA), M.Leitch 

(McKinsey), A.Bielenberg (McKinsey), B.Yano (EY), and C.Loh (EY) on 

fiscal plan revisions

 0.60 $ 701.00 $ 420.60 

Loh,Carmen Chng Wen CL Senior 7-Feb-18 T3 - Long-Term Projections Discussion call with M.Bartok (PRASA), E.Acosta (PRASA), M.Leitch 

(McKinsey), A.Bielenberg (McKinsey), B.Yano (EY), and C.Loh (EY) on 

fiscal plan revisions

 0.60 $ 430.00 $ 258.00 

Porepa,Jodi JP Senior Manager 7-Feb-18 T3 - Long-Term Projections Review reporting on title III and prepare analysis compared to Board 

approval

 1.20 $ 701.00 $ 841.20 

Aldana Herbas,Jose 

Alberto

HA Staff 7-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to New York, NY 4.00 $ 118.00 $ 472.00 

Yano,Brian BY Senior Manager 7-Feb-18 T3 - Long-Term Projections Call with Board and board advisors -- Mckinsey, Proskaeur and others on 

PRASA fiscal plan matters

 0.50 $ 701.00 $ 350.50 

Panagiotakis,Sofia SP Manager 7-Feb-18 T3 - Long-Term Projections Update the reconciliation of the budget to the fiscal plan presentation to 

include an analysis on ASES.

 0.30 $ 578.00 $ 173.40 

Yano,Brian BY Senior Manager 8-Feb-18 T3 - Long-Term Projections Draft latest notes on potential weaknesses in FY19 Commonwealth expense 

line items per review of team notes

 2.30 $ 701.00 $ 1,612.30 

Porepa,Jodi JP Senior Manager 8-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to New York, NY 4.00 $ 350.50 $ 1,402.00 

Panagiotakis,Sofia SP Manager 8-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to New York, NY 4.00 $ 289.00 $ 1,156.00 

Auton-Smith,Stephen John SA Executive Director 8-Feb-18 T3 - Long-Term Projections Review of PREPA relevant documents 2.60 $ 788.00 $ 2,048.80 

Burr,Jeremy JB Senior 8-Feb-18 T3 - Long-Term Projections Summarize FOMBs position on OCFO for presentation in the fiscal plan 2.10 $ 430.00 $ 903.00 

Burr,Jeremy JB Senior 8-Feb-18 T3 - Long-Term Projections Continue preparations of OFCO memo based on comments from A 

Chepenik (EY) comments and J Santambrogio (EY)

 0.80 $ 430.00 $ 344.00 

Chepenik,Adam Brandon AC Partner/Principal 8-Feb-18 T3 - Long-Term Projections Review net tax and subsidy calculations. 0.90 $ 845.00 $ 760.50 

Chepenik,Adam Brandon AC Partner/Principal 8-Feb-18 T3 - Long-Term Projections Call with S O Rorke (Mckinsey) to discuss Medicaid and disaster aid 

calculations.

 0.90 $ 845.00 $ 760.50 

Chepenik,Adam Brandon AC Partner/Principal 8-Feb-18 T3 - Long-Term Projections Discuss loan treatment with A Mendex (AAFAF). 0.20 $ 845.00 $ 169.00 

Chepenik,Adam Brandon AC Partner/Principal 8-Feb-18 T3 - Long-Term Projections Review and edit OCFO memo for fiscal plan. 0.80 $ 845.00 $ 676.00 

Chepenik,Adam Brandon AC Partner/Principal 8-Feb-18 T3 - Long-Term Projections Review tax materials for fiscal plan. 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 8-Feb-18 T3 - Long-Term Projections Call with S Auton-Smith (EY) and A Chepenik (EY) to discuss 

instrumentality fiscal plans.

 1.00 $ 845.00 $ 845.00 

Auton-Smith,Stephen John SA Executive Director 8-Feb-18 T3 - Long-Term Projections Call with S Auton-Smith (EY) and A Chepenik (EY) to discuss 

instrumentality fiscal plans.

 1.00 $ 788.00 $ 788.00 

Loh,Carmen Chng Wen CL Senior 8-Feb-18 T3 - Long-Term Projections Update incentives analysis in relation to Fiscal Plan projections based on 

feedback from A.Chepenik (EY)

 1.50 $ 430.00 $ 645.00 

Loh,Carmen Chng Wen CL Senior 8-Feb-18 T3 - Long-Term Projections Correspondence with J.Kang (Rothschild) and S.O'Rourke (McKinsey) on 

subsidies reflected in the Fiscal Plan

 0.30 $ 430.00 $ 129.00 

Loh,Carmen Chng Wen CL Senior 8-Feb-18 T3 - Long-Term Projections Prepare analysis voluntary transition programs and associated laws in 

relation to Fiscal Plan projections

 0.50 $ 430.00 $ 215.00 

Loh,Carmen Chng Wen CL Senior 8-Feb-18 T3 - Long-Term Projections Review tax reform plans from the Government for the incentives analysis 1.20 $ 430.00 $ 516.00 

Rodriguez-Ramos,Rosa M. RR Executive Director 8-Feb-18 T3 - Long-Term Projections Review how the provisions could impact/ be applicable to PR operations on 

opportunity zone provisions. 

 0.30 $ 788.00 $ 236.40 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 5 of 55
Exhibit C 6 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Burr,Jeremy JB Senior 8-Feb-18 T3 - Long-Term Projections Discussion with B Yano (EY) and J Burr (EY) on OCFO document for the 

fiscal plan

 0.30 $ 430.00 $ 129.00 

Yano,Brian BY Senior Manager 8-Feb-18 T3 - Long-Term Projections Discussion with B Yano (EY) and J Burr (EY) on OCFO document for the 

fiscal plan

 0.30 $ 701.00 $ 210.30 

Yano,Brian BY Senior Manager 8-Feb-18 T3 - Long-Term Projections Review prior drafts of OCFO memos and presentations 1.90 $ 701.00 $ 1,331.90 

Yano,Brian BY Senior Manager 8-Feb-18 T3 - Long-Term Projections Review union comments on fiscal plans and budgetary matters 0.30 $ 701.00 $ 210.30 

Yano,Brian BY Senior Manager 8-Feb-18 T3 - Long-Term Projections Analyze additional commentary provided on OCFO appoach 1.70 $ 701.00 $ 1,191.70 

Yano,Brian BY Senior Manager 8-Feb-18 T3 - Long-Term Projections Review documents and notes on finance function best practices 2.20 $ 701.00 $ 1,542.20 

Yano,Brian BY Senior Manager 8-Feb-18 T3 - Long-Term Projections Develop analysis for draft FOMB fiscal plan detailing OCFO best practices 

and recommendations for the Commowealth

 2.80 $ 701.00 $ 1,962.80 

Yano,Brian BY Senior Manager 8-Feb-18 T3 - Long-Term Projections Update analysis on OCFO information for fiscal plan based upon feedback 1.60 $ 701.00 $ 1,121.60 

Panagiotakis,Sofia SP Manager 8-Feb-18 T3 - Long-Term Projections Analyze the AP documentation provided by Hacienda to determine what is 

still outstanding from prior years and how much has been encumbered in 

the system.

 1.10 $ 578.00 $ 635.80 

Panagiotakis,Sofia SP Manager 8-Feb-18 T3 - Long-Term Projections Review the time billing reports to determine if they are accurate for tax 

reporting purposes

 0.30 $ 578.00 $ 173.40 

Malhotra,Gaurav GM Partner/Principal 9-Feb-18 T3 - CBA/Labor Agreements Labor costs review. 1.70 $ 845.00 $ 1,436.50 

Loh,Carmen Chng Wen CL Senior 9-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from client site for meetings in San Juan, Puerto Rico to home 5.90 $ 215.00 $ 1,268.50 

Burr,Jeremy JB Senior 9-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to Chicago, IL 4.90 $ 215.00 $ 1,053.50 

Chepenik,Adam Brandon AC Partner/Principal 9-Feb-18 T3 - Long-Term Projections Review net tax and subsidy calculations. 1.20 $ 845.00 $ 1,014.00 

Chepenik,Adam Brandon AC Partner/Principal 9-Feb-18 T3 - Long-Term Projections Call with A Matosantos (Board), N Jaresko (Board), Mckinsey team on 

baseline and measures projections.

 0.70 $ 845.00 $ 591.50 

Chepenik,Adam Brandon AC Partner/Principal 9-Feb-18 T3 - Long-Term Projections Prepare summary of Puerto Rico implications from disaster supplemental 

for N Jaresko (Board) review.

 0.70 $ 845.00 $ 591.50 

Chepenik,Adam Brandon AC Partner/Principal 9-Feb-18 T3 - Long-Term Projections Read federal disaster supplemental legislation to identify Puerto Rico longterm iimpacts at request of N Jaresko (Board 1.90 $ 845.00 $ 1,605.50 

Chepenik,Adam Brandon AC Partner/Principal 9-Feb-18 T3 - Fee Applications / Retention Call with D Neziroski (EY) and A Chepenik (EY) to discuss fee 

applications.

 0.60 $ 845.00 $ 507.00 

Neziroski,David DN Staff 9-Feb-18 T3 - Fee Applications / Retention Call with D Neziroski (EY) and A Chepenik (EY) to discuss fee 

applications.

 0.60 $ 236.00 $ 141.60 

Koch,Cathleen M CK Partner/Principal 9-Feb-18 T3 -Creditor Mediation Support 2hrs - Puerto Rico -- Opp Zones. Analyze the impact on investment of the 

Opp Zone provision based on JCT analysis

 2.00 $ 845.00 $ 1,690.00 

Mullins,Daniel R DM Executive Director 9-Feb-18 T3 - Long-Term Projections Review of government's fiscal plan, review of 154 projections, participation 

on conference calls.

 0.80 $ 788.00 $ 630.40 

Panagiotakis,Sofia SP Manager 9-Feb-18 T3 - Long-Term Projections Participate in Board call with other advisors to discuss baseline and 

measures projections.

 0.70 $ 578.00 $ 404.60 

Panagiotakis,Sofia SP Manager 9-Feb-18 T3 - Long-Term Projections Compare the March and August fiscal plans to understand the revised 

pension plan projections and how they tie back to the FY18 budget.

 1.30 $ 578.00 $ 751.40 

Panagiotakis,Sofia SP Manager 9-Feb-18 T3 - Long-Term Projections Revise the reconciliation of the budget to the fiscal plan based on 

comments from N. Jaresko that provides more detail on the General Fund, 

Federal Funds, and Other funds.

 2.60 $ 578.00 $ 1,502.80 

Panagiotakis,Sofia SP Manager 9-Feb-18 T3 - Long-Term Projections Revise the reconciliation of the budget to the fiscal plan to create a bridge 

on pension from the different fiscal plans and to the FY18 budget.

 0.90 $ 578.00 $ 520.20 

Panagiotakis,Sofia SP Manager 9-Feb-18 T3 - Long-Term Projections Review feedback that has been provided by creditors on the fiscal plan. 0.80 $ 578.00 $ 462.40 

Rodriguez-Ramos,Rosa M. RR Executive Director 9-Feb-18 T3 - Long-Term Projections Perform additional analysis that reviews how the provisions in recently 

passed tax legislation could impact/ be applicable to PR operations 

commenting on opportunity zone provisions

 1.50 $ 788.00 $ 1,182.00 

Chepenik,Adam Brandon AC Partner/Principal 9-Feb-18 T3 - Long-Term Projections Participate in weekly board call led by N Jaresko (Board). Joined by J 

Santambrogio (EY) and A Chepenik (EY) as well as McKinsey, and 

O'Neill teams.

 1.90 $ 845.00 $ 1,605.50 

Santambrogio,Juan JS Executive Director 9-Feb-18 T3 - Long-Term Projections Participate in weekly board call led by N Jaresko (Board). Joined by J 

Santambrogio (EY) and A Chepenik (EY) as well as McKinsey, and 

O'Neill teams

 1.90 $ 788.00 $ 1,497.20 

Yano,Brian BY Senior Manager 9-Feb-18 T3 - Long-Term Projections Review latest draft of the OCFO write up for the fiscal plan 0.40 $ 701.00 $ 280.40 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 6 of 55
Exhibit C 7 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Burr,Jeremy JB Senior 9-Feb-18 T3 - Long-Term Projections Prepare follow-up questions for Law 70 and Voluntary Transition Plan 

("VTP") in preparations for meeting with AAFAF

 1.70 $ 430.00 $ 731.00 

Santambrogio,Juan JS Executive Director 9-Feb-18 T3 - Long-Term Projections Review reconciliation of Budget to Fiscal Plan 1.0 0.80 $ 788.00 $ 630.40 

Santambrogio,Juan JS Executive Director 9-Feb-18 T3 - Long-Term Projections Review draft languae of Office of the CFO structure for Fiscal Plan 0.70 $ 788.00 $ 551.60 

Panagiotakis,Sofia SP Manager 9-Feb-18 T3 - Long-Term Projections Review summary of Law 70 provided by C. Loh (EY) to understand 

potential impact to the budget and to the fiscal plan.

 0.30 $ 578.00 $ 173.40 

Porepa,Jodi JP Senior Manager 10-Feb-18 T3 - Long-Term Projections Follow up on outstanding questions related to prior year payables 3.20 $ 701.00 $ 2,243.20 

Porepa,Jodi JP Senior Manager 10-Feb-18 T3 - Long-Term Projections Review reporting on title III and prepare analysis compared to Board 

approval

 1.20 $ 701.00 $ 841.20 

Mackie,James JM Executive Director 10-Feb-18 T3 - Long-Term Projections Examine the provisions in the US Budget Bill that Expanded Opp Zones in 

PR

 1.50 $ 788.00 $ 1,182.00 

Phillips,Andrew D AP Partner/Principal 10-Feb-18 T3 - Long-Term Projections Emailed responses to questions on size of potential investment in 

Opportunity Funds and Zones. 

 0.40 $ 845.00 $ 338.00 

Phillips,Andrew D AP Partner/Principal 10-Feb-18 T3 - Long-Term Projections Research on structure of funds, nature of deferred capital gains, 0.70 $ 845.00 $ 591.50 

Phillips,Andrew D AP Partner/Principal 10-Feb-18 T3 - Long-Term Projections reviewing data on historical investments, GDP in Puerto Rico. 0.60 $ 845.00 $ 507.00 

Porepa,Jodi JP Senior Manager 11-Feb-18 T3 - Long-Term Projections Draft communication from Board on revenues 2.50 $ 701.00 $ 1,752.50 

Herman,Michael Scott MH Senior Manager 11-Feb-18 T3 - Long-Term Projections Analysis of the Bipartisan Budget Act of 2018 0.50 $ 701.00 $ 350.50 

Porepa,Jodi JP Senior Manager 11-Feb-18 T3 - Long-Term Projections Review certain budget reapportionment requests 1.10 $ 701.00 $ 771.10 

Yano,Brian BY Senior Manager 12-Feb-18 T3 - Long-Term Projections Review current FOMB version of the fiscal plan to understand variances 

with Commonwealth plan 

 2.80 $ 701.00 $ 1,962.80 

Yano,Brian BY Senior Manager 12-Feb-18 T3 - Long-Term Projections Prepare for meeting with FOMB team regarding PRASA milestones and 

other to do items

 2.40 $ 701.00 $ 1,682.40 

Porepa,Jodi JP Senior Manager 12-Feb-18 T3 - Long-Term Projections Revise FOMB communication to clent 1.10 $ 701.00 $ 771.10 

Chepenik,Adam Brandon AC Partner/Principal 12-Feb-18 T3 - Long-Term Projections Prepare long-term subsidy projections table. 1.90 $ 845.00 $ 1,605.50 

Chepenik,Adam Brandon AC Partner/Principal 12-Feb-18 T3 - Long-Term Projections Update and refine subsidy projections based on feedback. 1.60 $ 845.00 $ 1,352.00 

Chepenik,Adam Brandon AC Partner/Principal 12-Feb-18 T3 - Long-Term Projections Participate in check in call with N Jaresko (Board) on FP1.0 to 2.0 to FY18 

projections. Joined by J Santambrogio (EY), A Chepenik (EY) and 

Mckinsey team.

 1.30 $ 845.00 $ 1,098.50 

Santambrogio,Juan JS Executive Director 12-Feb-18 T3 - Long-Term Projections Participate in check in call with N Jaresko (Board) on FP1.0 to 2.0 to FY18 

projections. Joined by J Santambrogio (EY), A Chepenik (EY) and 

Mckinsey team.

 1.30 $ 788.00 $ 1,024.40 

Loh,Carmen Chng Wen CL Senior 12-Feb-18 T3 - Long-Term Projections Review passing of Opportunity Zone bill for inclusion of Puerto Rico and 

relevant materials

 1.30 $ 430.00 $ 559.00 

Loh,Carmen Chng Wen CL Senior 12-Feb-18 T3 - Long-Term Projections Prepare summary of Opportunity Zone bill inclusion for Puerto Rico to the 

FOMB

 1.70 $ 430.00 $ 731.00 

Loh,Carmen Chng Wen CL Senior 12-Feb-18 T3 - Long-Term Projections Review Opportunity Zone bill summary relevant to Puerto Rico, for the 

FOMB 

 1.10 $ 430.00 $ 473.00 

Loh,Carmen Chng Wen CL Senior 12-Feb-18 T3 - Long-Term Projections Revise Opportunity Zone bill summary based on feedback from internal 

experts 

 0.60 $ 430.00 $ 258.00 

Mackie,James JM Executive Director 12-Feb-18 T3 - Long-Term Projections Analyze and edit memo drafted by C Loh on the effect of US Budget's 

Oppo Zone Expansion for PR

 2.50 $ 788.00 $ 1,970.00 

Santambrogio,Juan JS Executive Director 12-Feb-18 T3 - Long-Term Projections Participate in call with J. Santambrogio (EY) and S. Panagiotakis (EY) to 

discuss how to bridge pension costs from the March to the August fiscal 

plan and to the FY18 budget

 1.10 $ 788.00 $ 866.80 

Panagiotakis,Sofia SP Manager 12-Feb-18 T3 - Long-Term Projections Participate in call with J. Santambrogio (EY) and S. Panagiotakis (EY) to 

discuss how to bridge pension costs from the March to the August fiscal 

plan and to the FY18 budget.

 1.10 $ 578.00 $ 635.80 

Panagiotakis,Sofia SP Manager 12-Feb-18 T3 - Long-Term Projections Participate in call with J. Burr (EY) and S. Panagiotakis (EY) to discuss the 

FY17 and FY18 budget and how it is corporated in the Fiscal Plan.

 0.40 $ 578.00 $ 231.20 

Burr,Jeremy JB Senior 12-Feb-18 T3 - Long-Term Projections Participate in call with J. Burr (EY) and S. Panagiotakis (EY) to discuss the 

FY17 and FY18 budget and how it is incorporated in the Fiscal Plan.

 0.40 $ 430.00 $ 172.00 

Panagiotakis,Sofia SP Manager 12-Feb-18 T3 - Long-Term Projections Draft email to F Fornia (Board) to further understand change in pension 

from March to August fiscal plan.

 0.20 $ 578.00 $ 115.60 

Panagiotakis,Sofia SP Manager 12-Feb-18 T3 - Long-Term Projections Revise the pension bridges in the fiscal plan to budget reconciliation based 

on conversation with J. Santambrogio (EY) and comments from F Fornia 

(Board).

 0.80 $ 578.00 $ 462.40 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 7 of 55
Exhibit C 8 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Panagiotakis,Sofia SP Manager 12-Feb-18 T3 - Long-Term Projections Review the FY17 and FY18 budgets to understand major changes from one 

budget to the other and the impact it had on fiscal plan 1.0 (March version).

 0.80 $ 578.00 $ 462.40 

Panagiotakis,Sofia SP Manager 12-Feb-18 T3 - Long-Term Projections Review McKinsey's analysis of the FY17, FY18 budgets vs the Board's 

fiscal plan to assist McKinsey to identify the major causes of the variances.

 0.90 $ 578.00 $ 520.20 

Panagiotakis,Sofia SP Manager 12-Feb-18 T3 - Long-Term Projections Participate in call with McKinsey to discuss the variances between the 

FY17 and FY18 budgets and the impact on the Board's fiscal plan.

 1.30 $ 578.00 $ 751.40 

Panagiotakis,Sofia SP Manager 12-Feb-18 T3 - Long-Term Projections Review the government's allocations of expense measures in the FY18 

budget to help explain some of the variances in the FY17 and FY18 

budgets.

 0.40 $ 578.00 $ 231.20 

Phillips,Andrew D AP Partner/Principal 12-Feb-18 T3 - Long-Term Projections Assist with drafting and review of Opportunity fund zones assessment 

memo for FOMB long-term projections and potential impact

 0.50 $ 845.00 $ 422.50 

Rodriguez-Ramos,Rosa M. RR Executive Director 12-Feb-18 T3 - Long-Term Projections Providing feedback/certain comments to one pager summary about 

proposed tax reform. also commenting about act 154 possible alternative 

(rate aspects) and related in the context of GILTI

 1.60 $ 788.00 $ 1,260.80 

Santambrogio,Juan JS Executive Director 12-Feb-18 T3 - Long-Term Projections Participate in call with J. Santambrogio (EY) and S. Panagiotakis (EY) to 

analyze the pension costs included in the March and August fiscal plans.

 0.90 $ 788.00 $ 709.20 

Panagiotakis,Sofia SP Manager 12-Feb-18 T3 - Long-Term Projections Participate in call with J. Santambrogio (EY) and S. Panagiotakis (EY) to 

analyze the pension costs included in the March and August fiscal plans.

 0.90 $ 578.00 $ 520.20 

Panagiotakis,Sofia SP Manager 12-Feb-18 T3 - Long-Term Projections Participate in call with McKinsey and J. Santambrogio (EY), S. 

Panagiotakis (EY) to discuss the bridge from the budget to Fiscal Plan 2.0 

and a comparison of measures in the government and board fiscal plans

 0.90 $ 578.00 $ 520.20 

Santambrogio,Juan JS Executive Director 12-Feb-18 T3 - Long-Term Projections Participate in call with McKinsey and J. Santambrogio (EY), S. 

Panagiotakis (EY) to discuss the bridge from the budget to Fiscal Plan 2.0 

and a comparison of measures in the government and board fiscal plan

 0.90 $ 788.00 $ 709.20 

Santambrogio,Juan JS Executive Director 12-Feb-18 T3 - Long-Term Projections Review presentation on reconciliation of Budget to fiscal Plan 1.30 $ 788.00 $ 1,024.40 

Loh,Carmen Chng Wen CL Senior 12-Feb-18 T3 - Long-Term Projections Review latest submission PREPA fiscal plans and underlying model 1.20 $ 430.00 $ 516.00 

Aldana Herbas,Jose 

Alberto

HA Staff 12-Feb-18 T3 - Long-Term Projections Analyze "Preliminary Observations on January 2018 Draft Fiscal Plan" 

deck

 1.30 $ 236.00 $ 306.80 

Aldana Herbas,Jose 

Alberto

HA Staff 12-Feb-18 T3 - Long-Term Projections Update PRASA Fiscal Plan charts 0.70 $ 236.00 $ 165.20 

Chepenik,Adam Brandon AC Partner/Principal 13-Feb-18 T3 - Long-Term Projections Call with S Panagiatakas (EY) and A Chepenik (EY) to discuss fiscal plan 

to budget reconciliation for fiscal plan purposes.

 0.50 $ 845.00 $ 422.50 

Panagiotakis,Sofia SP Manager 13-Feb-18 T3 - Long-Term Projections Call with S Panagiatakas (EY) and A Chepenik (EY) to discuss fiscal plan 

to budget reconciliation for fiscal plan purposes.

 0.50 $ 578.00 $ 289.00 

Chepenik,Adam Brandon AC Partner/Principal 13-Feb-18 T3 - Long-Term Projections Prepare and send response to N Jaresko (Board) and M Tullia (Board) on 

treatment of additional local healthcare funds in long term model.

 0.30 $ 845.00 $ 253.50 

Burr,Jeremy JB Senior 13-Feb-18 T3 - Long-Term Projections Call with D Udom (Mckinsey), S Panagiotakis (EY), J Burr (EY), A 

Chepenik (EY) to discuss rum tax cover in long term calculations.

 0.50 $ 430.00 $ 215.00 

Chepenik,Adam Brandon AC Partner/Principal 13-Feb-18 T3 - Long-Term Projections Call with D Udom (Mckinsey), S Panagiatakas (EY), J Burr (EY) to discuss 

rum cover over long term calculations.

 0.50 $ 845.00 $ 422.50 

Panagiotakis,Sofia SP Manager 13-Feb-18 T3 - Long-Term Projections Call with D Udom (Mckinsey), S Panagiatakas (EY), J Burr (EY) to discuss 

rum cover over long term calculations.

 0.50 $ 578.00 $ 289.00 

Chepenik,Adam Brandon AC Partner/Principal 13-Feb-18 T3 - Long-Term Projections Participate in call on fiscal plan with N Jaresko (Board), Mckinsey, M 

Tullia (Board) to discuss fiscal plan.

 1.10 $ 845.00 $ 929.50 

Chepenik,Adam Brandon AC Partner/Principal 13-Feb-18 T3 - Long-Term Projections Participate in call with M Bienenstock (Proskauer), J Gavin (Citi), D Skeele 

(Board), A Biggs (Board), to discuss fiscal plan forecasts and pension 

strategy for fiscal plan.

 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 13-Feb-18 T3 - Long-Term Projections Call with C Loh (EY) and A Chepenik (EY) to discuss tax forecasting 

project.

 0.30 $ 845.00 $ 253.50 

Loh,Carmen Chng Wen CL Senior 13-Feb-18 T3 - Long-Term Projections Call with C Loh (EY) and A Chepenik (EY) to discuss tax forecasting 

project.

 0.30 $ 430.00 $ 129.00 

Chepenik,Adam Brandon AC Partner/Principal 13-Feb-18 T3 - Long-Term Projections Draft and send email to S O'Rourke (Mckinsey) on long-term projections 

related to healthcare and medicaid.

 0.70 $ 845.00 $ 591.50 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 8 of 55
Exhibit C 9 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 13-Feb-18 T3 - Long-Term Projections Review OCFO materials for long-term feasibility and prepare materials for 

board review on it.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 13-Feb-18 T3 - Long-Term Projections Prepare and end long-term tax analysis for fiscal plan impact to N Jaresko 

(Board).

 0.80 $ 845.00 $ 676.00 

Loh,Carmen Chng Wen CL Senior 13-Feb-18 T3 - Long-Term Projections Review latest fiscal plan model submitted by the Government for 

projections related to incentives

 0.60 $ 430.00 $ 258.00 

Loh,Carmen Chng Wen CL Senior 13-Feb-18 T3 - Long-Term Projections Review latest fiscal plan model submitted by the Government for corporate 

and individual tax reform impact projections

 1.30 $ 430.00 $ 559.00 

Loh,Carmen Chng Wen CL Senior 13-Feb-18 T3 - Long-Term Projections Prepare sensitivity analysis on corporate and individual tax reform 

measures as proposed in the fiscal plan

 1.10 $ 430.00 $ 473.00 

Loh,Carmen Chng Wen CL Senior 13-Feb-18 T3 - Long-Term Projections Review corporate and individual tax reform impact analysis with 

S.Panagiotakis (EY) and C.Loh (EY)

 1.40 $ 430.00 $ 602.00 

Panagiotakis,Sofia SP Manager 13-Feb-18 T3 - Long-Term Projections Review corporate and individual tax reform impact analysis with C. Loh 

(EY) and S.Panagiotakis (EY).

 1.40 $ 578.00 $ 809.20 

Loh,Carmen Chng Wen CL Senior 13-Feb-18 T3 - Long-Term Projections Revise sensitivity analysis on corporate and individual tax reform measures 

as proposed in the fiscal plan based on feedback from A.Chepenik (EY)

 0.40 $ 430.00 $ 172.00 

Panagiotakis,Sofia SP Manager 13-Feb-18 T3 - Long-Term Projections Participate in call with McKinsey to discuss the normalization of FY17 and 

the FY18 budget to get to operational expenses for fiscal plan entities to 

determine if the fiscal plan baseline are reasonable.

 1.70 $ 578.00 $ 982.60 

Panagiotakis,Sofia SP Manager 13-Feb-18 T3 - Long-Term Projections Participate in call with AAFAF to discuss the other income expenses and 

what should be included in the fiscal plan baseline.

 0.30 $ 578.00 $ 173.40 

Panagiotakis,Sofia SP Manager 13-Feb-18 T3 - Long-Term Projections Review the FY17 and FY18 budget to determine what items should be 

eliminated to arrive at a normalized operating budget that could be 

compared to the fiscal plan.

 2.40 $ 578.00 $ 1,387.20 

Panagiotakis,Sofia SP Manager 13-Feb-18 T3 - Long-Term Projections Draft letter for the Board to send to the government requesting more 

information on Other income in the FY18 budget to determine if these 

expenses should be included in the Fiscal plan baseline

 0.40 $ 578.00 $ 231.20 

Panagiotakis,Sofia SP Manager 13-Feb-18 T3 - Long-Term Projections Review the impact of tax incentives and tax reforms in the fiscal plan to 

deterimine how to analyze a decline in the corporate and individual taxes 

which will be offset by incentives.

 0.40 $ 578.00 $ 231.20 

Porepa,Jodi JP Senior Manager 13-Feb-18 T3 - Long-Term Projections Provide recommendations on monthly reports 1.00 $ 701.00 $ 701.00 

Porepa,Jodi JP Senior Manager 13-Feb-18 T3 - Long-Term Projections Summarize key takeaways from discussions on budget to actual reports 1.20 $ 701.00 $ 841.20 

Porepa,Jodi JP Senior Manager 13-Feb-18 T3 - Long-Term Projections Follow up on tax expenditure reports and other tax credit reporting 0.80 $ 701.00 $ 560.80 

Porepa,Jodi JP Senior Manager 13-Feb-18 T3 - Long-Term Projections Identify potential surplus/deficit in agency budget information provided by 

Government

 2.10 $ 701.00 $ 1,472.10 

Porepa,Jodi JP Senior Manager 13-Feb-18 T3 - Long-Term Projections Review monthly reporting provided by Government 1.50 $ 701.00 $ 1,051.50 

Porepa,Jodi JP Senior Manager 13-Feb-18 T3 - Long-Term Projections Follow up on impact of certain laws to budget 1.60 $ 701.00 $ 1,121.60 

Porepa,Jodi JP Senior Manager 13-Feb-18 T3 - Long-Term Projections Review updated budgetary reserves 1.00 $ 701.00 $ 701.00 

Porepa,Jodi JP Senior Manager 13-Feb-18 T3 - Long-Term Projections Prepare for meetings with agencies on variance analysis to budget 0.60 $ 701.00 $ 420.60 

Santambrogio,Juan JS Executive Director 13-Feb-18 T3 - Long-Term Projections Participate in call with J. Santambrogio (EY) and S. Panagiotakis (EY) to 

analyze revenue and expenses for FY17 and FY18 for the fiscal plans.

 0.80 $ 788.00 $ 630.40 

Panagiotakis,Sofia SP Manager 13-Feb-18 T3 - Long-Term Projections Participate in call with J. Santambrogio (EY) and S. Panagiotakis (EY) to 

analyze revenue and expenses for FY17 and FY18 for the fiscal plans.

 0.80 $ 578.00 $ 462.40 

Santambrogio,Juan JS Executive Director 13-Feb-18 T3 - Long-Term Projections Participate in call with J. Santambrogio (EY) and S. Panagiotakis (EY) to 

discuss the FY17 and FY18 budget analysis compared to the Fiscal Plan 

base line.

 0.30 $ 788.00 $ 236.40 

Panagiotakis,Sofia SP Manager 13-Feb-18 T3 - Long-Term Projections Participate in call with J. Santambrogio (EY) and S. Panagiotakis (EY) to 

discuss the FY17 and FY18 budget analysis compared to the Fiscal Plan 

base line.

 0.30 $ 578.00 $ 173.40 

Santambrogio,Juan JS Executive Director 13-Feb-18 T3 - Long-Term Projections Participate in call with A Matosantos (Board), C Garcia (Board), N Jaresko 

(Board), M Tullia (Board), J Santambrogio (EY), A Chepenik (EY), S 

Panagiatakas (EY), A Wolfe (Board), to discuss revisions to projections.

 1.40 $ 788.00 $ 1,103.20 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 9 of 55
Exhibit C 10 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Panagiotakis,Sofia SP Manager 13-Feb-18 T3 - Long-Term Projections Participate in call with A Matosantos (Board), C Garcia (Board), N Jaresko 

(Board), M Tullia (Board), J Santambrogio (EY), A Chepenik (EY), S 

Panagiatakas (EY), A Wolfe (Board), to discuss revisions to projections.

 1.40 $ 578.00 $ 809.20 

Chepenik,Adam Brandon AC Partner/Principal 13-Feb-18 T3 - Long-Term Projections Participate in call with A Matosantos (Board), C Garcia (Board), N Jaresko 

(Board), M Tullia (Board), J Santambrogio (EY), A Chepenik (EY), S 

Panagiatakas (EY), A Wolfe (Board), to discuss revisions to projections.

 1.40 $ 845.00 $ 1,183.00 

Santambrogio,Juan JS Executive Director 13-Feb-18 T3 - Long-Term Projections Review latest version of Fiscal Plan prepared by the Government and 

released on 2/12

 2.60 $ 788.00 $ 2,048.80 

Aldana Herbas,Jose 

Alberto

HA Staff 13-Feb-18 T3 - Long-Term Projections Participate in call with J.Santambrogio (EY), J.Porepa (EY), B.Yano (EY), 

and J.Aldana (EY) discussing fiscal plan milestones and assignments

 0.40 $ 236.00 $ 94.40 

Santambrogio,Juan JS Executive Director 13-Feb-18 T3 - Long-Term Projections Participate in call with J.Santambrogio (EY), J.Porepa (EY), B.Yano (EY), 

and J.Aldana (EY) discussing fiscal plan milestones and assignments

 0.40 $ 788.00 $ 315.20 

Porepa,Jodi JP Senior Manager 13-Feb-18 T3 - Long-Term Projections Participate in call with J.Santambrogio (EY), J.Porepa (EY), B.Yano (EY), 

and J.Aldana (EY) discussing fiscal plan milestones and assignments

 0.40 $ 701.00 $ 280.40 

Yano,Brian BY Senior Manager 13-Feb-18 T3 - Long-Term Projections Participate in call with J.Santambrogio (EY), J.Porepa (EY), B.Yano (EY), 

and J.Aldana (EY) discussing fiscal plan milestones and assignments

 0.40 $ 701.00 $ 280.40 

Porepa,Jodi JP Senior Manager 14-Feb-18 T3 - Long-Term Projections Review and update analysis on Offie of Chief Financial Officer 1.60 $ 701.00 $ 1,121.60 

Panagiotakis,Sofia SP Manager 14-Feb-18 T3 - Long-Term Projections Research HTA's revenues to understand sources, the flow of funds from the 

General fund to HTA and how certain tax sources are allocated to them

 1.80 $ 578.00 $ 1,040.40 

Santambrogio,Juan JS Executive Director 14-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Atlanta, GA to New York, NY 2.50 $ 394.00 $ 985.00 

Burr,Jeremy JB Senior 14-Feb-18 T3 - Long-Term Projections Analyze the current budget for ASES and prepare analysis on funding 

opportunities given the current shortfall expected

 2.10 $ 430.00 $ 903.00 

Chepenik,Adam Brandon AC Partner/Principal 14-Feb-18 T3 - Long-Term Projections Participate in call with J Santambrogio (EY), C Loh (EY), A Chepenik 

(EY), F Parez (Hacienda), E Rios (Hacienda), J York (Conway) to discus 

incentive projections in fiscal plan.

 1.30 $ 845.00 $ 1,098.50 

Loh,Carmen Chng Wen CL Senior 14-Feb-18 T3 - Long-Term Projections Participate in call with J Santambrogio (EY), C Loh (EY), A Chepenik 

(EY), F Parez (Hacienda), E Rios (Hacienda), J York (Conway) to discus 

incentive projections in fiscal plan.

 1.30 $ 430.00 $ 559.00 

Santambrogio,Juan JS Executive Director 14-Feb-18 T3 - Long-Term Projections Participate in call with J Santambrogio (EY), C Loh (EY), A Chepenik 

(EY), F Parez (Hacienda), E Rios (Hacienda), J York (Conway) to discus 

incentive projections in fiscal plan

 1.30 $ 788.00 $ 1,024.40 

Chepenik,Adam Brandon AC Partner/Principal 14-Feb-18 T3 - Long-Term Projections Discussion on forecast approach and incentive lists with A Chepenik (EY) 

and C Loh (EY)

 0.40 $ 845.00 $ 338.00 

Loh,Carmen Chng Wen CL Senior 14-Feb-18 T3 - Long-Term Projections Discussion on forecast approach and incentive lists with A Chepenik (EY) 

and C Loh (EY)

 0.40 $ 430.00 $ 172.00 

Chepenik,Adam Brandon AC Partner/Principal 14-Feb-18 T3 - Long-Term Projections Participate in call with N Jaresko (EY), S O'Rorke (Mckinsey), O Shah 

(Mckinsey), J Santambrogio (EY), S Panagiatakas (EY), C Loh (EY), A 

Wolfe (Board), M Tullia (Board).

 1.20 $ 845.00 $ 1,014.00 

Loh,Carmen Chng Wen CL Senior 14-Feb-18 T3 - Long-Term Projections Participate in call with N Jaresko (EY), S O'Rorke (Mckinsey), O Shah 

(Mckinsey), J Santambrogio (EY), S Panagiotakis (EY), C Loh (EY), A 

Wolfe (Board), M Tulla (Board).

 1.20 $ 430.00 $ 516.00 

Santambrogio,Juan JS Executive Director 14-Feb-18 T3 - Long-Term Projections Participate in call with N Jaresko (EY), S O'Rorke (Mckinsey), O Shah 

(Mckinsey), J Santambrogio (EY), S Panagiatakas (EY), C Loh (EY), A 

Wolfe (Board) M Tullia (Board)

 1.20 $ 788.00 $ 945.60 

Panagiotakis,Sofia SP Manager 14-Feb-18 T3 - Long-Term Projections Participate in call with N Jaresko (EY), S O'Rorke (Mckinsey), O Shah 

(Mckinsey), J Santambrogio (EY), S Panagiatakas (EY), C Loh (EY), A 

Wolfe (Board), M Tullia (Board).

 1.20 $ 578.00 $ 693.60 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 10 of 55
Exhibit C 11 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 14-Feb-18 T3 - Long-Term Projections Participate in call with A Wolfe (Board) to discuss long-term projections 

and interplay with tax reform.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 14-Feb-18 T3 - Long-Term Projections Update long-term projections from comprehensive reform materials for N 

Jaresko (Board) in preparation for Board discussion.

 1.40 $ 845.00 $ 1,183.00 

Chepenik,Adam Brandon AC Partner/Principal 14-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Washington, DC to New York, NY 4.00 $ 422.50 $ 1,690.00 

Chepenik,Adam Brandon AC Partner/Principal 14-Feb-18 T3 - Long-Term Projections Participate in meeting with A Phillips (EY) and A Chepenik (EY) to discuss 

long-term forecasting calculations in Puerto Rico.

 0.30 $ 845.00 $ 253.50 

Phillips,Andrew D AP Partner/Principal 14-Feb-18 T3 - Long-Term Projections Participate in meeting with A Phillips (EY) and A Chepenik (EY) to discuss 

long-term forecasting calculations in Puerto Rico.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 14-Feb-18 T3 - Long-Term Projections Call with J David (Mckinsey) to discuss long-term tax reform forecast in 

government's fiscal plan.

 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 14-Feb-18 T3 - Long-Term Projections Update long-term forecasting slides based on N Jaresko (Board) feedback. 1.60 $ 845.00 $ 1,352.00 

Chepenik,Adam Brandon AC Partner/Principal 14-Feb-18 T3 - Long-Term Projections Update fiscal plan slides for Board presentation in advance of discussion 

with Governor on the topic.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 14-Feb-18 T3 - Long-Term Projections Based on additional feedback, update projections and one-pager for long 

term fiscal plan forecast.

 0.90 $ 845.00 $ 760.50 

Koch,Cathleen M CK Partner/Principal 14-Feb-18 T3 -Creditor Mediation Support Review revenue estimates of international reform provisions and reviewing 

work on effect of International Tax Porvisions on Puerto Rico

 2.00 $ 845.00 $ 1,690.00 

Loh,Carmen Chng Wen CL Senior 14-Feb-18 T3 - Long-Term Projections Reconcile incentives cost as reflected in the Fiscal Plan and DDEC report 

from the Commonwealth

 0.70 $ 430.00 $ 301.00 

Loh,Carmen Chng Wen CL Senior 14-Feb-18 T3 - Long-Term Projections Revise incentives list for the FOMB to reflect feedback from the Hacienda 

and Conway MacKenzie

 0.60 $ 430.00 $ 258.00 

Loh,Carmen Chng Wen CL Senior 14-Feb-18 T3 - Long-Term Projections Review incentives information sent by Conway MacKenzie in preparation 

for discussion call on population included in the fiscal plan projections

 0.40 $ 430.00 $ 172.00 

Loh,Carmen Chng Wen CL Senior 14-Feb-18 T3 - Long-Term Projections Review post measures corporate taxes for sensitivity analysis 0.70 $ 430.00 $ 301.00 

Loh,Carmen Chng Wen CL Senior 14-Feb-18 T3 - Long-Term Projections Revise sensitivity analysis on corporate tax reform measures as proposed in 

the fiscal plan

 0.80 $ 430.00 $ 344.00 

Mackie,James JM Executive Director 14-Feb-18 T3 - Long-Term Projections Comments on tax reform slides for Oversight Board discussion, drafted by 

J. Davis

 0.70 $ 788.00 $ 551.60 

Mackie,James JM Executive Director 14-Feb-18 T3 - Long-Term Projections Examine how the US Budget's expasion of Opp Zones in PR differned 

from the provisions in TCJA

 1.80 $ 788.00 $ 1,418.40 

Panagiotakis,Sofia SP Manager 14-Feb-18 T3 - Long-Term Projections Participate in call with McKinsey to discuss the final version of their 

analysis on normalizing the FY17 and FY18 budgets and the comparison to 

the Board's fiscal plan

 0.80 $ 578.00 $ 462.40 

Panagiotakis,Sofia SP Manager 14-Feb-18 T3 - Long-Term Projections Review the slide drafted by J. Porepa (EY) discussing the OCFO reform in 

the government fiscal plan to provide comments.

 0.20 $ 578.00 $ 115.60 

Panagiotakis,Sofia SP Manager 14-Feb-18 T3 - Long-Term Projections Review slides prepared by A. Chepenik (EY) on coporate tax reform to 

provide comments prior to sending to the Board.

 0.30 $ 578.00 $ 173.40 

Panagiotakis,Sofia SP Manager 14-Feb-18 T3 - Long-Term Projections Compare the revised 2/12 Government fiscal plan to the prior one from 

1/24 to identify changes and understand the build up of the general fund.

 2.20 $ 578.00 $ 1,271.60 

Yano,Brian BY Senior Manager 14-Feb-18 T3 - Long-Term Projections Review latest draft of OCFO information 0.40 $ 701.00 $ 280.40 

Yano,Brian BY Senior Manager 14-Feb-18 T3 - Long-Term Projections Review questions and related documents on HTA inflows and outflows 

question re FY19 budget and fiscal plan

 0.60 $ 701.00 $ 420.60 

Burr,Jeremy JB Senior 14-Feb-18 T3 - Long-Term Projections Prepare summary email with all information received from DNR and EQB 

related to the Oil and Tire budget revision requests to be used by FOMB in 

final decision

 0.60 $ 430.00 $ 258.00 

Loh,Carmen Chng Wen CL Senior 15-Feb-18 T3 - Long-Term Projections Prepare PRASA budget review charts for latest fiscal plan projections and 

expanded model

 2.30 $ 430.00 $ 989.00 

Loh,Carmen Chng Wen CL Senior 15-Feb-18 T3 - Long-Term Projections Review PRASA fiscal plan's supporting model for latest projections 

submitted

 1.60 $ 430.00 $ 688.00 

Chepenik,Adam Brandon AC Partner/Principal 15-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to Washington, DC 4.00 $ 422.50 $ 1,690.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 11 of 55
Exhibit C 12 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 15-Feb-18 T3 - Long-Term Projections Meeting with A Matosantos (Board), C Garcia (Board), N Jaresko (Board), 

J Santambrogio (EY), K Hiteshew (EY), A Chepenik (EY), A Wolfe 

(Board), and Mckinsey team to discuss baseline projections in fiscal plan.

 1.00 $ 845.00 $ 845.00 

Chepenik,Adam Brandon AC Partner/Principal 15-Feb-18 T3 - Long-Term Projections Participate in meeting with A Matosantos (board), A Chepenik (EY), C 

Garcia (board), A Wolfe (Board), N Jaresko (Board), K Rifkind (Board), J 

Santambrogio (EY), J Porepa (EY), J Gavin (Citi), and Mckinsey teams to 

prepare for fiscal plan negotiation with Governor and Governor's advisors.

 3.90 $ 845.00 $ 3,295.50 

Porepa,Jodi JP Senior Manager 15-Feb-18 T3 - Long-Term Projections Participate in meeting with A Matosantos (board), A Chepenik (EY), C 

Garcia (board), A Wolfe (Board), N Jaresko (Board), K Rifkind (Board), J 

Santambrogio (EY), J Porepa (EY), J Gavin (Citi), and Mckinsey teams to 

prepare for fiscal plan negotiation with Governor and Governor's advisors.

 3.90 $ 701.00 $ 2,733.90 

Santambrogio,Juan JS Executive Director 15-Feb-18 T3 - Long-Term Projections Participate in meeting with A Matosantos (board), A Chepenik (EY), C 

Garcia (board), A Wolfe (Board), N Jaresko (Board), K Rifkind (Board), J 

Santambrogio (EY), J Porepa (EY), J Gavin (Citi), and Mckinsey teams to 

prepare for fiscal plan negotiation with Governor and Governor's advisors.

 3.90 $ 788.00 $ 3,073.20 

Chepenik,Adam Brandon AC Partner/Principal 15-Feb-18 T3 - Long-Term Projections Participate in call with E Rios (Hacienda) to discuss long term forecast 

implications for fiscal plan and revenue assumptions.

 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 15-Feb-18 T3 - Long-Term Projections Discussion call with J.York (CMK), B.Biggio (CMK), A.Chepenik (EY), 

E.Calvesbert and C.Loh (EY) to discuss incentives sizing in the Fiscal Plan

 0.60 $ 845.00 $ 507.00 

Loh,Carmen Chng Wen CL Senior 15-Feb-18 T3 - Long-Term Projections Discussion call with J.York (CMK), B.Biggio (CMK), A.Chepenik (EY), 

E.Calvesbert and C.Loh (EY) to discuss incentives sizing in the Fiscal Plan

 0.60 $ 430.00 $ 258.00 

Hymovitz Cardona,Pablo S CH Executive Director 15-Feb-18 T3 - Long-Term Projections Respond to transfer pricing question as it relates to phantom profits; 

analyze impact of Act 154 excise tax as it relates to GILTI.

 1.50 $ 788.00 $ 1,182.00 

Mackie,James JM Executive Director 15-Feb-18 T3 - Long-Term Projections Analyze the effect of US tax reform on PR, esp. GILTI and FTC 

provisions, email to A. Chepenik

 1.50 $ 788.00 $ 1,182.00 

Rodriguez-Ramos,Rosa M. RR Executive Director 15-Feb-18 T3 - Long-Term Projections Prepare feedback/certain comments to one pager summary about proposed 

tax reform, also commenting about act 154 possible alternative (rate 

aspects) and related in the context of GILTI

 0.40 $ 788.00 $ 315.20 

Santambrogio,Juan JS Executive Director 15-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to Atlanta, NY 2.50 $ 394.00 $ 985.00 

Santambrogio,Juan JS Executive Director 15-Feb-18 T3 - Long-Term Projections Analyze updated version of Fiscal Plan prepared by the Government to 

understand treatment of 2018 baseline expenditures

 2.40 $ 788.00 $ 1,891.20 

Loh,Carmen Chng Wen CL Senior 15-Feb-18 T3 - Long-Term Projections Revise PRASA budget review charts for latest fiscal plan projections based 

on feedback from B.Yano (EY)

 1.30 $ 430.00 $ 559.00 

Porepa,Jodi JP Senior Manager 16-Feb-18 T3 - Long-Term Projections Draft consolidated comments and provide to government 1.90 $ 701.00 $ 1,331.90 

Yano,Brian BY Senior Manager 16-Feb-18 T3 - Long-Term Projections Review latest updates to general fund FY19 process to understand issues 

with PRASA process

 1.40 $ 701.00 $ 981.40 

Yano,Brian BY Senior Manager 16-Feb-18 T3 - Long-Term Projections Analyze summary notes and todos on COSSEC and deliverables 1.20 $ 701.00 $ 841.20 

Chepenik,Adam Brandon AC Partner/Principal 16-Feb-18 T3 - Long-Term Projections Call with J Hymovitz (EY) and A Chepenik (EY) to discuss long-term 

projections on tax collections.

 0.40 $ 845.00 $ 338.00 

Hymovitz Cardona,Pablo S CH Executive Director 16-Feb-18 T3 - Long-Term Projections Call with J Hymovitz (EY) and A Chepenik (EY) to discuss long-term 

projections on tax collections.

 0.40 $ 788.00 $ 315.20 

Chepenik,Adam Brandon AC Partner/Principal 16-Feb-18 T3 - Long-Term Projections Prepare and send communication to J Davis (McKinsey) on long-term tax 

assumptions in fiscal plan.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 16-Feb-18 T3 - Long-Term Projections Call with S O'Roarke (Mckinsey), K Rifkind (Board), T Witner (Mckinsey) 

to discuss Medicaid projections in fiscal plan.

 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 16-Feb-18 T3 - Long-Term Projections Draft and send tax projections message on long-term fiscal plan. 0.60 $ 845.00 $ 507.00 

Hymovitz Cardona,Pablo S CH Executive Director 16-Feb-18 T3 - Long-Term Projections Analyze PR tax reform implications and potential changes or replacement 

for Act 154 excise tax.

 0.80 $ 788.00 $ 630.40 

Chepenik,Adam Brandon AC Partner/Principal 16-Feb-18 T3 - Long-Term Projections Conference call with P Hymovitz (EY) to discuss transfer pricing question 

as it relates to phantom profits

 0.30 $ 845.00 $ 253.50 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 12 of 55
Exhibit C 13 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Hymovitz Cardona,Pablo S CH Executive Director 16-Feb-18 T3 - Long-Term Projections Conference call with A Chepenik (EY) to discuss transfer pricing question 

as it relates to phantom profits

 0.30 $ 788.00 $ 236.40 

Santambrogio,Juan JS Executive Director 16-Feb-18 T3 - Long-Term Projections Analyze treatment of ASES funding in revised Fiscal Plan model 1.10 $ 788.00 $ 866.80 

Santambrogio,Juan JS Executive Director 16-Feb-18 T3 - Long-Term Projections Prepare a summary of discussions between Board and Government for 

internal team

 0.60 $ 788.00 $ 472.80 

Yano,Brian BY Senior Manager 16-Feb-18 T3 - Long-Term Projections Review readout from meeting between FOMB and Governor regarding 

fiscal plan

 0.20 $ 701.00 $ 140.20 

Loh,Carmen Chng Wen CL Senior 16-Feb-18 T3 - Long-Term Projections Prepare FEMA funding and PW reports reconciliation for funds disbursed 

to PR agencies

 1.20 $ 430.00 $ 516.00 

Chepenik,Adam Brandon AC Partner/Principal 16-Feb-18 T3 - Long-Term Projections Call with J Santambrogio (EY) and A Chepenik (EY) to discuss budget and 

fiscal plan workstreams.

 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 16-Feb-18 T3 - Long-Term Projections Prepare and send communication on hmgp efforts. 0.40 $ 845.00 $ 338.00 

Santambrogio,Juan JS Executive Director 16-Feb-18 T3 - Long-Term Projections Call with J Santambrogio (EY) and A Chepenik (EY) to discuss budget and 

fiscal plan workstreams.

 0.40 $ 788.00 $ 315.20 

Chepenik,Adam Brandon AC Partner/Principal 18-Feb-18 T3 - Long-Term Projections Research and answer N Jaresko (Board) question around 1% revenue loss 

expectations for long-term projections from corporate tax reform.

 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 19-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Washington, DC to San Juan, PR 7.00 $ 422.50 $ 2,957.50 

Malhotra,Gaurav GM Partner/Principal 19-Feb-18 T3 - Long-Term Projections Review Financial and Economic Analysis. 2.70 $ 845.00 $ 2,281.50 

Yano,Brian BY Senior Manager 19-Feb-18 T3 - Long-Term Projections Provide feedback on draft Commonwealth fiscal plan revenue letter 2.10 $ 701.00 $ 1,472.10 

Porepa,Jodi JP Senior Manager 19-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to San Juan, PR 4.00 $ 350.50 $ 1,402.00 

Santambrogio,Juan JS Executive Director 19-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Atlanta, GA to San Juan, PR 3.50 $ 394.00 $ 1,379.00 

Loh,Carmen Chng Wen CL Senior 19-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel From Washington, DC to San Juan, PR 6.20 $ 215.00 $ 1,333.00 

Panagiotakis,Sofia SP Manager 19-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to San Juan, PR 4.00 $ 289.00 $ 1,156.00 

Porepa,Jodi JP Senior Manager 19-Feb-18 T3 - Long-Term Projections Review proposed timing and make adjustments as necessary 1.60 $ 701.00 $ 1,121.60 

Chepenik,Adam Brandon AC Partner/Principal 19-Feb-18 T3 - Long-Term Projections Review disaster aid recovery projections for M Vizcarrondo (Board) for use 

as board talking points.

 0.80 $ 845.00 $ 676.00 

Chepenik,Adam Brandon AC Partner/Principal 19-Feb-18 T3 - Long-Term Projections Review, edit, and comment on Board version of draft fiscal plan document. 2.10 $ 845.00 $ 1,774.50 

Malhotra,Gaurav GM Partner/Principal 19-Feb-18 T3 - Long-Term Projections Review Long-Term Projections. 3.10 $ 845.00 $ 2,619.50 

Rodriguez-Ramos,Rosa M. RR Executive Director 19-Feb-18 T3 - Long-Term Projections Review and comment on proposed federal legislation pages 124 to 184 

regarding certain aspects of obligations to file a return and what at source. 

also requirements of audited financial statements. responses about 

opportunity zones and eb5 program

 0.30 $ 788.00 $ 236.40 

Burr,Jeremy JB Senior 19-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Chicago, IL to San Juan, PR 2.00 $ 215.00 $ 430.00 

Chepenik,Adam Brandon AC Partner/Principal 19-Feb-18 T3 - Long-Term Projections Call with F Pla (EY) and A Chepenik (EY) to discuss PR disaster recovery 

workstreams and disaster projections.

 0.50 $ 845.00 $ 422.50 

Chepenik,Adam Brandon AC Partner/Principal 19-Feb-18 T3 - Long-Term Projections Review terms for appropriating funds to PREPA from general fund. 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 19-Feb-18 T3 - Long-Term Projections Discussion with J El Koury (Board) about accounting implications from 

general fund loan to PREPA.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 20-Feb-18 T3 - Long-Term Projections Review EB-5 and tax treaty information for N Jaresko (Board). 1.20 $ 845.00 $ 1,014.00 

Porepa,Jodi JP Senior Manager 20-Feb-18 T3 - Long-Term Projections Review proposed timing and make adjustments as necessary 1.10 $ 701.00 $ 771.10 

Burr,Jeremy JB Senior 20-Feb-18 T3 - Long-Term Projections Review the Fiscal Plan 2.0 for modeling of ASES in preparations for 

budget review

 1.60 $ 430.00 $ 688.00 

Burr,Jeremy JB Senior 20-Feb-18 T3 - Long-Term Projections Participate in meeting with J. Burr (EY) and S. Panagiotakis (EY) to 

discuss the treatment of ASES and other component units in the 

government's fiscal plan

 0.40 $ 430.00 $ 172.00 

Panagiotakis,Sofia SP Manager 20-Feb-18 T3 - Long-Term Projections Participate in meeting with J. Burr (EY) and S. Panagiotakis (EY) to 

discuss the treatment of ASES and other component units in the 

government's fiscal plan.

 0.40 $ 578.00 $ 231.20 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 13 of 55
Exhibit C 14 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Hymovitz Cardona,Pablo S CH Executive Director 20-Feb-18 T3 - Long-Term Projections Conference call with PR Treasury Departmenti internal revenue officials to 

discuss general parameters of PR tax reform and enforcement measures 

under consideration

 1.10 $ 788.00 $ 866.80 

Hymovitz Cardona,Pablo S CH Executive Director 20-Feb-18 T3 - Long-Term Projections Review various e-mails related to PR tax reform changes and enforcement 

measures.

 0.50 $ 788.00 $ 394.00 

Santambrogio,Juan JS Executive Director 20-Feb-18 T3 - Long-Term Projections Analyze economic development recommendations at the request of the 

FOMB Executive Director

 0.60 $ 788.00 $ 472.80 

Mackie,James JM Executive Director 20-Feb-18 T3 - Long-Term Projections Analyseze and review the effct of US tax Reform on PR & territories & 

research the appliciblity of US IRC Code Section 199 (the manufacturing 

deduction) to PR

 0.50 $ 788.00 $ 394.00 

Santambrogio,Juan JS Executive Director 20-Feb-18 T3 - Long-Term Projections Review alternative treatment of funds to ASES in the fiscal plan model 0.40 $ 788.00 $ 315.20 

Chepenik,Adam Brandon AC Partner/Principal 20-Feb-18 T3 - Long-Term Projections Discussion with A Chepenik (EY), J Burr (EY) and S Panagiotakis (EY) to 

explains healthcare cost assumptions for discussion in ASES B2A meeting

 0.40 $ 845.00 $ 338.00 

Loh,Carmen Chng Wen CL Senior 20-Feb-18 T3 - Long-Term Projections Review PREPA submitted documents related to FY19 budget review - 

fiscal plan updates and monthly liquidity reports

 0.60 $ 430.00 $ 258.00 

Panagiotakis,Sofia SP Manager 20-Feb-18 T3 - Long-Term Projections Discussion with A Chepenik (EY), J Burr (EY) and S Panagiotakis (EY) to 

explains healthcare cost assumptions for discussion in ASES B2A meeting

 0.40 $ 578.00 $ 231.20 

Panagiotakis,Sofia SP Manager 20-Feb-18 T3 - Long-Term Projections Participate in call with M. Tullia (Board) to discuss the general fund 

forecast and various assumptions that should be used.

 0.40 $ 578.00 $ 231.20 

Burr,Jeremy JB Senior 20-Feb-18 T3 - Long-Term Projections Discussion with A Chepenik (EY), J Burr (EY) and S Panagiotakis (EY) to 

explains healthcare cost assumptions for discussion in ASES B2A meeting

 0.40 $ 430.00 $ 172.00 

Santambrogio,Juan JS Executive Director 21-Feb-18 T3 - Long-Term Projections Analyze estimated variances between FY18 budget and actual results based 

on known items

 2.30 $ 788.00 $ 1,812.40 

Burr,Jeremy JB Senior 21-Feb-18 T3 - Long-Term Projections Prepare final analysis of Feb 15 data release incorporating error reporting - 

analysis will be used for discussion purposes and FOMB presentations

 2.70 $ 430.00 $ 1,161.00 

Panagiotakis,Sofia SP Manager 21-Feb-18 T3 - Long-Term Projections Revise the general fund budget forecast through the end of the fiscal year 

with updated information and different assumptions.

 1.80 $ 578.00 $ 1,040.40 

Porepa,Jodi JP Senior Manager 21-Feb-18 T3 - Long-Term Projections Follow up on outstanding questions relating to Law 70 and the voluntary 

transition program

 1.10 $ 701.00 $ 771.10 

Panagiotakis,Sofia SP Manager 21-Feb-18 T3 - Long-Term Projections Participate in meeting with M. Tullia (Board) to discuss the general fund 

forecast and the implications.

 1.10 $ 578.00 $ 635.80 

Burr,Jeremy JB Senior 21-Feb-18 T3 - Long-Term Projections Participate in discussion with E Arroyo (FOMB) regarding tax expenditure 

reporting and current AP reporting for the government

 1.20 $ 430.00 $ 516.00 

Burr,Jeremy JB Senior 21-Feb-18 T3 - Long-Term Projections Continue reviewing Gov't Fiscal Plan as it relates to ASES and the $4.8bn 

they will receive this year to develop follow-up questions

 0.90 $ 430.00 $ 387.00 

Chepenik,Adam Brandon AC Partner/Principal 21-Feb-18 T3 - Long-Term Projections Respond to S Negron (Board) request for federal tax information on Act 

154 filers.

 0.20 $ 845.00 $ 169.00 

Chepenik,Adam Brandon AC Partner/Principal 21-Feb-18 T3 - Long-Term Projections Discuss tax reform review legislation with R Rodriguez-Ramos (EY), P 

Hymovitz Cardona (EY), and A Chepenik (EY) for evaluation and 

assessment of reforms.

 0.40 $ 845.00 $ 338.00 

Rodriguez-Ramos,Rosa M. RR Executive Director 21-Feb-18 T3 - Long-Term Projections Discuss tax reform review legislation with R Rodriguez-Ramos (EY), P 

Hymovitz Cardona (EY), and A Chepenik (EY) for evaluation and 

assessment of reforms.

 0.40 $ 788.00 $ 315.20 

Hymovitz Cardona,Pablo S CH Executive Director 21-Feb-18 T3 - Long-Term Projections Discuss tax reform review legislation with R Rodriguez-Ramos (EY), P 

Hymovitz Cardona (EY), and A Chepenik (EY) for evaluation and 

assessment of reforms

 0.40 $ 788.00 $ 315.20 

Hymovitz Cardona,Pablo S CH Executive Director 21-Feb-18 T3 - Long-Term Projections Begin review of draft PR tax reform legislation and provide high level 

implications of proposed changes.

 2.60 $ 788.00 $ 2,048.80 

Panagiotakis,Sofia SP Manager 21-Feb-18 T3 - Long-Term Projections Analyze the Department of Education federal funding to determine the 

various components and respond to McKinsey's questions.

 0.70 $ 578.00 $ 404.60 

Loh,Carmen Chng Wen CL Senior 21-Feb-18 T3 - Long-Term Projections Review draft bill for Puerto Rico tax reform as submitted by the Hacienda 

to reflect ammendments due to projections in the Fiscal Plan

 1.00 $ 430.00 $ 430.00 

Chepenik,Adam Brandon AC Partner/Principal 21-Feb-18 T3 - Long-Term Projections Discuss tax reform approach with C Loh (EY) on tax legislation. 0.20 $ 845.00 $ 169.00 

Loh,Carmen Chng Wen CL Senior 21-Feb-18 T3 - Long-Term Projections Discuss tax reform approach with A Chepenik (EY) on tax legislation. 0.20 $ 430.00 $ 86.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 14 of 55
Exhibit C 15 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Mackie,James JM Executive Director 21-Feb-18 T3 - Long-Term Projections Investigate the availability of tax and financial data on PR Act 154 

companies, 

 2.10 $ 788.00 $ 1,654.80 

Mackie,James JM Executive Director 21-Feb-18 T3 - Long-Term Projections Investigate the applictaion of & rationale for lifitng the US federal excise 

tax on insurance premiums paid by US domestic companies to PR 

insurance companies email to A Chepenik

 1.90 $ 788.00 $ 1,497.20 

Maldonado,Nelson NM Manager 21-Feb-18 T3 - Long-Term Projections Draft bullets with comments on draft bill for tax reform pages 1 to 59. 1.80 $ 578.00 $ 1,040.40 

Maldonado,Nelson NM Manager 21-Feb-18 T3 - Long-Term Projections Review and analysis of draft bill for tax reform pages 31 to 59 3.10 $ 578.00 $ 1,791.80 

Maldonado,Nelson NM Manager 21-Feb-18 T3 - Long-Term Projections Review and analysis of draft bill for tax reform pages 1 to 30 3.10 $ 578.00 $ 1,791.80 

Mercado-Reyes,Pedro Ivan PM Manager 21-Feb-18 T3 - Long-Term Projections Review of tax reform bill Articles 60 through 90 to analyze salient 

provisions related to informative returns, sales and use tax and others and 

prepare summary.

 3.10 $ 578.00 $ 1,791.80 

Mercado-Reyes,Pedro Ivan PM Manager 21-Feb-18 T3 - Long-Term Projections Review of tax reform bill Articles 91 through 116 related to closing 

agreements, retirement plans, IRAs, penalties and others to analyze salient 

provisions and prepare summary.

 2.60 $ 578.00 $ 1,502.80 

Panagiotakis,Sofia SP Manager 21-Feb-18 T3 - Long-Term Projections Analyze the fiscal plan model to determine if ASES should show a surplus 

that flows to the bottom line. 

 0.60 $ 578.00 $ 346.80 

Burr,Jeremy JB Senior 21-Feb-18 T3 - Long-Term Projections Prepare follow-up questions for Marta Alvarez Lopez (Hacienda) related to 

the Tax Credit reporting provided by AAFAF over the last two months

 0.90 $ 430.00 $ 387.00 

Rodriguez-Ramos,Rosa M. RR Executive Director 21-Feb-18 T3 - Long-Term Projections Continue revision and comments on proposed bill pages 124 to 184 mainly 

related to certain aspects of obligations to file a return and wht at source, 

also requirements of audited financial statements. Draft responses about 

opportunity zones and the eb5 program

 1.90 $ 788.00 $ 1,497.20 

Santambrogio,Juan JS Executive Director 21-Feb-18 T3 - Long-Term Projections Review historical TSA cash flows in relation to their effect on the 

reconciliation adjustment

 1.20 $ 788.00 $ 945.60 

Santambrogio,Juan JS Executive Director 21-Feb-18 T3 - Long-Term Projections Review proposed draft of tax reform legislation prepared by the 

Government

 2.60 $ 788.00 $ 2,048.80 

Chepenik,Adam Brandon AC Partner/Principal 21-Feb-18 T3 - Long-Term Projections Update note for N Jareko (Board) on EB-5 waivers and treaty negotiations 

with additional information received from National Tax Office.

 0.30 $ 845.00 $ 253.50 

Panagiotakis,Sofia SP Manager 21-Feb-18 T3 - Long-Term Projections Review the reaportionment request for the Dept. of Recreation sent by 

OMB to determine if there are any potential issues that the Board should be 

aware of.

 0.30 $ 578.00 $ 173.40 

Chepenik,Adam Brandon AC Partner/Principal 21-Feb-18 T3 - Long-Term Projections Review R Rodriguez-Ramos (EY) feedback on EB-5 waiver program. 0.20 $ 845.00 $ 169.00 

Yano,Brian BY Senior Manager 22-Feb-18 T3 - Long-Term Projections Update instrumentality timeline on process deck for latest FOMB letter 2.20 $ 701.00 $ 1,542.20 

Chepenik,Adam Brandon AC Partner/Principal 22-Feb-18 T3 - Long-Term Projections Participate in weekly government advisors catch up meeting to discuss 

workstreams outstanding with A Chepenik (EY), J Santambrogio (EY), S 

Panagiotakis (EY), J Porepa (EY), A Mendez (AAFAF), B Fernandez 

(AAFAF) S Rodriguez (FOMB) and Conway McKenzie

 1.10 $ 845.00 $ 929.50 

Santambrogio,Juan JS Executive Director 22-Feb-18 T3 - Long-Term Projections Participate in weekly government advisors catch up meeting to discuss 

workstreams outstanding with A Chepenik (EY), J Santambrogio (EY), S 

Panagiotakis (EY), J Porepa (EY), A Mendez (AAFAF), B Fernandez 

(AAFAF) S Rodriguez (FOMB) and Conway McKenzie

 1.10 $ 788.00 $ 866.80 

Porepa,Jodi JP Senior Manager 22-Feb-18 T3 - Long-Term Projections Participate in weekly government advisors catch up meeting to discuss 

workstreams outstanding with A Chepenik (EY), J Santambrogio (EY), S 

Panagiotakis (EY), J Porepa (EY), A Mendez (AAFAF), B Fernandez 

(AAFAF) S Rodriguez (FOMB) and Conway McKenzie

 1.10 $ 701.00 $ 771.10 

Panagiotakis,Sofia SP Manager 22-Feb-18 T3 - Long-Term Projections Participate in weekly government advisors catch up meeting to discuss 

workstreams outstanding with A Chepenik (EY), J Santambrogio (EY), S 

Panagiotakis (EY), J Porepa (EY), A Mendez (AAFAF), B Fernandez 

(AAFAF) S Rodriguez (FOMB) and Conway McKenzie

 1.10 $ 578.00 $ 635.80 

Panagiotakis,Sofia SP Manager 22-Feb-18 T3 - Long-Term Projections Analyze the non-general fund portion of the paygo to determine the 

agencies that make up each component.

 0.80 $ 578.00 $ 462.40 

Chepenik,Adam Brandon AC Partner/Principal 22-Feb-18 T3 - Long-Term Projections Participate in call with S O'Rorke (Mckinsey), O Shah (Mckinsey), M 

Tullia (Board), J Reed (Mckinsey), to discuss baseline projections in fiscal 

plan

 0.60 $ 845.00 $ 507.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 15 of 55
Exhibit C 16 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Hymovitz Cardona,Pablo S CH Executive Director 22-Feb-18 T3 - Long-Term Projections Review of draft PR tax reform legislation and provide high level 

implications of proposed changes; review and edit changes highlighted by 

managers Pedro Mercado and Nelson Maldonado

 4.30 $ 788.00 $ 3,388.40 

Loh,Carmen Chng Wen CL Senior 22-Feb-18 T3 - Long-Term Projections Review tax expenditure report materials and incentives master list in 

preparation for meeting with at the Hacienda

 0.80 $ 430.00 $ 344.00 

Panagiotakis,Sofia SP Manager 22-Feb-18 T3 - Long-Term Projections Prepare for call with Conway Mackensie to to discuss the reconciliation 

adjustment based on the revised FY15 data by preparing a summary chart 

showing the impact of the two approaches.

 0.70 $ 578.00 $ 404.60 

Rodriguez-Ramos,Rosa M. RR Executive Director 22-Feb-18 T3 - Long-Term Projections REVIEW PROPOSED BILL PAGES 124 TO 184 MAINLY RELATED 

TO CERTAIN ASPECTS OF OBLIGATIONS TO FILE A RETURN 

AND WHT AT SOURCE. ALSO REQUIREMENTS OF AUDITED 

FINANCIAL STATEMENTS. RESPONSES ABOUT OZ, EB5 

PROGRAM AND OTHER SIMILAR

 1.00 $ 788.00 $ 788.00 

Panagiotakis,Sofia SP Manager 22-Feb-18 T3 - Long-Term Projections Review the Act 154 Scenarios and tax reform calculations to understand the 

revenue build in the fiscal plan.

 0.40 $ 578.00 $ 231.20 

Porepa,Jodi JP Senior Manager 23-Feb-18 T3 - Long-Term Projections Review proposed timing and make adjustments as necessary 2.10 $ 701.00 $ 1,472.10 

Porepa,Jodi JP Senior Manager 23-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to New York, NY 4.00 $ 350.50 $ 1,402.00 

Loh,Carmen Chng Wen CL Senior 23-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to Washington, DC 6.50 $ 215.00 $ 1,397.50 

Santambrogio,Juan JS Executive Director 23-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to Atlanta, GA 3.50 $ 394.00 $ 1,379.00 

Chepenik,Adam Brandon AC Partner/Principal 23-Feb-18 T3 - Long-Term Projections Participate in weekly board call with advisors. Led by N Jaresko (Board), 

with Board members, J Santambrogio (EY) and A Chepenik (EY).

 1.60 $ 845.00 $ 1,352.00 

Santambrogio,Juan JS Executive Director 23-Feb-18 T3 - Long-Term Projections Participate in weekly board call with advisors. Led by N Jaresko (Board), 

with Board members, J Santambrogio (EY) and A Chepenik (EY).

 1.60 $ 788.00 $ 1,260.80 

Panagiotakis,Sofia SP Manager 23-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to New York, NY 4.00 $ 289.00 $ 1,156.00 

Burr,Jeremy JB Senior 23-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to Chicago, IL 4.40 $ 215.00 $ 946.00 

Chepenik,Adam Brandon AC Partner/Principal 23-Feb-18 T3 - Long-Term Projections Draft and send analysis on GDB and federal deposits to N Jaresko (Board). 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 23-Feb-18 T3 - Long-Term Projections Meeting with C Loh (EY) and A Chepenik (EY) with E Rios (Hacienda) 

and R Cruz (Hacienda) to discuss long term projections and development of 

tax expenditure report.

 1.30 $ 845.00 $ 1,098.50 

Loh,Carmen Chng Wen CL Senior 23-Feb-18 T3 - Long-Term Projections Meeting with C Loh (EY) and A Chepenik (EY) with E Rios (Hacienda) 

and R Cruz (Hacienda) to discuss long term projections and development of 

tax expenditure report

 1.30 $ 430.00 $ 559.00 

Panagiotakis,Sofia SP Manager 23-Feb-18 T3 - Long-Term Projections Participate in call with B. Biggio (Conway), J. York (Conway), J. 

Santambrogio (EY) and S. Panagiotakis (EY) to discuss the adjustments in 

the reconciliation adjustment analysis and the impact on the fiscal plan

 0.50 $ 578.00 $ 289.00 

Santambrogio,Juan JS Executive Director 23-Feb-18 T3 - Long-Term Projections Participate in call with B. Biggio (Conway), J. York (Conway), J. 

Santambrogio (EY) and S. Panagiotakis (EY) to discuss the adjustments in 

the reconciliation adjustment analysis and the impact on the fiscal plan.

 0.50 $ 788.00 $ 394.00 

Panagiotakis,Sofia SP Manager 23-Feb-18 T3 - Long-Term Projections Draft responses to M. Tullia (Board) and E. Arroyo (Board) to respond to 

questions on the historical cash flow analysis.

 0.20 $ 578.00 $ 115.60 

Rodriguez-Ramos,Rosa M. RR Executive Director 23-Feb-18 T3 - Long-Term Projections Finalize comments started earlier on opportunity zones and the eb5 

program.

 0.60 $ 788.00 $ 472.80 

Rodriguez-Ramos,Rosa M. RR Executive Director 23-Feb-18 T3 - Long-Term Projections Review requirements of audited financial statements. 0.40 $ 788.00 $ 315.20 

Chepenik,Adam Brandon AC Partner/Principal 25-Feb-18 T3 - Long-Term Projections Call with O Shah (Mckinsey) to discuss long-term reconciliations between 

fiscal plans.

 0.20 $ 845.00 $ 169.00 

Chepenik,Adam Brandon AC Partner/Principal 25-Feb-18 T3 - Long-Term Projections Correspondence regarding M Tullia (Board) asks related to reconciliations 

between long term plans.

 0.60 $ 845.00 $ 507.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 16 of 55
Exhibit C 17 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Porepa,Jodi JP Senior Manager 26-Feb-18 T3 - Long-Term Projections Review status of Title III fees and impact on liquidity reserve 2.20 $ 701.00 $ 1,542.20 

Burr,Jeremy JB Senior 26-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Chicago, IL to New York, NY 4.00 $ 215.00 $ 860.00 

Porepa,Jodi JP Senior Manager 26-Feb-18 T3 - Long-Term Projections Follow up on status of liquidity reserve budget reapportionment request 1.20 $ 701.00 $ 841.20 

Loh,Carmen Chng Wen CL Senior 26-Feb-18 T3 - Long-Term Projections Prepare reconciliation for agencies listing based on data received from 

OMB, local counsel and Ankura Consulting Group

 1.70 $ 430.00 $ 731.00 

Aldana Herbas,Jose 

Alberto

HA Staff 26-Feb-18 T3 - Long-Term Projections Review of all documentation in data room pertinent to revenues in updated 

Fiscal Plan of CW as of February 12, 2018

 2.90 $ 236.00 $ 684.40 

Aldana Herbas,Jose 

Alberto

HA Staff 26-Feb-18 T3 - Long-Term Projections Analyze buildup of revenues in most recent Fiscal Plan of the CW, 

including macroeconomic assumptions, revenue measures, revenue 

breakdown, etc.

 2.30 $ 236.00 $ 542.80 

Aldana Herbas,Jose 

Alberto

HA Staff 26-Feb-18 T3 - Long-Term Projections Compare covered entities from a variety of different sources, including 

OMB, Ankura and Proskauer to identify discrepancies and potentially 

missing information

 1.40 $ 236.00 $ 330.40 

Burr,Jeremy JB Senior 26-Feb-18 T3 - Long-Term Projections Review FP revenue assumptions and model build to prepare summary for 

FOMB presentation

 3.10 $ 430.00 $ 1,333.00 

Chepenik,Adam Brandon AC Partner/Principal 26-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to Washington, DC 4.00 $ 422.50 $ 1,690.00 

Chepenik,Adam Brandon AC Partner/Principal 26-Feb-18 T3 - Long-Term Projections Review and draft key points on long-term tax reform legislative impact to 

projections for N Jaresko (Board).

 1.30 $ 845.00 $ 1,098.50 

Chepenik,Adam Brandon AC Partner/Principal 26-Feb-18 T3 - Long-Term Projections Participate in meeting with P Hymovitz (EY) and A Chepenik (EY) to 

discuss long-term tax analysis proposal on fiscal plan.

 0.30 $ 845.00 $ 253.50 

Hymovitz Cardona,Pablo S CH Executive Director 26-Feb-18 T3 - Long-Term Projections Participate in meeting with P Hymovitz (EY) and A Chepenik (EY) to 

discuss long-term tax analysis proposal on fiscal plan.

 0.30 $ 788.00 $ 236.40 

Chepenik,Adam Brandon AC Partner/Principal 26-Feb-18 T3 - Long-Term Projections Participate in call with J Padilla (Board), M Tullia (Board), J Santambrogio 

(EY), A Chepenik (EY), J Reed (Mckinsey), T Duvall (Mckinsey) to 

discuss Jayson's recollections on long-term budgeting and forecast process 

as part of fiscal plan revision

 0.80 $ 845.00 $ 676.00 

Santambrogio,Juan JS Executive Director 26-Feb-18 T3 - Long-Term Projections Participate in call with J Padilla (Board), M Tullia (Board), J Santambrogio 

(EY), A Chepenik (EY), J Reed (Mckinsey), T Duvall (Mckinsey) to 

discuss Jayson's recollections on long-term budgeting and forecast process 

as part of fiscal plan revision

 0.80 $ 788.00 $ 630.40 

Chepenik,Adam Brandon AC Partner/Principal 26-Feb-18 T3 - Long-Term Projections Participate in follow up call with M Tullia (Board) to discuss J Padilla's 

(Board) comments on forecasting deficiencies.

 0.20 $ 845.00 $ 169.00 

Hymovitz Cardona,Pablo S CH Executive Director 26-Feb-18 T3 - Long-Term Projections Review and edit tax reform summary prepared at request of FOMB. 1.20 $ 788.00 $ 945.60 

Loh,Carmen Chng Wen CL Senior 26-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Washington, DC to New York, NY 3.60 $ 215.00 $ 774.00 

Maldonado,Nelson NM Manager 26-Feb-18 T3 - Long-Term Projections Second review of draft bill for tax reform and updates to highlight bullets 3.10 $ 578.00 $ 1,791.80 

Rodriguez-Ramos,Rosa M. RR Executive Director 26-Feb-18 T3 - Long-Term Projections Draft proposed amendments and new code provisions as part of tax reform 

proposal. read and review pages 124 to184. 

 1.20 $ 788.00 $ 945.60 

Rodriguez-Ramos,Rosa M. RR Executive Director 26-Feb-18 T3 - Long-Term Projections Prepare summary of highlights of such provisions to include subject matters 

related to wht at source, non-deductibility of certain items if not properly 

deposited or reported, new requirements related to submission of audited 

financial statements among others

 1.40 $ 788.00 $ 1,103.20 

Santambrogio,Juan JS Executive Director 26-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Atlanta, GA to New York, NY 2.50 $ 394.00 $ 985.00 

Porepa,Jodi JP Senior Manager 27-Feb-18 T3 - Long-Term Projections Review comparison of final agency inventory listing to covered entity 

listing

 2.80 $ 701.00 $ 1,962.80 

Porepa,Jodi JP Senior Manager 27-Feb-18 T3 - Long-Term Projections Follow up on outstanding agencies from comparison of inventory to 

covered entity listing

 2.60 $ 701.00 $ 1,822.60 

Chepenik,Adam Brandon AC Partner/Principal 27-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel back from New York to Washington, DC following advisors 

meeting.

 4.00 $ 422.50 $ 1,690.00 

Yano,Brian BY Senior Manager 27-Feb-18 T3 - Long-Term Projections Review draft exhibit with the bridge between PRASA fiscal plan and 

budget numbers

 1.50 $ 701.00 $ 1,051.50 

Loh,Carmen Chng Wen CL Senior 27-Feb-18 T3 - Long-Term Projections Revise fiscal plan baseline risks presentation risks presentation to the 

FOMB on the general fund revenue and expense projections

 1.30 $ 430.00 $ 559.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 17 of 55
Exhibit C 18 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 27-Feb-18 T3 - Long-Term Projections Call with G Malhotra (EY) and A Chepenik (EY) to discuss Puerto Rico 

workstreams and prepare for Thursday session with FOMB members.

 0.60 $ 845.00 $ 507.00 

Malhotra,Gaurav GM Partner/Principal 27-Feb-18 T3 - Long-Term Projections Call with G Malhotra (EY) and A Chepenik (EY) to discuss Puerto Rico 

workstreams and prepare for Thursday session with FOMB members.

 0.60 $ 845.00 $ 507.00 

Burr,Jeremy JB Senior 27-Feb-18 T3 - Long-Term Projections Prepare summary of YTD budget by visibility and concept of spend to 

support baseline presentation for the fiscal plan

 2.90 $ 430.00 $ 1,247.00 

Burr,Jeremy JB Senior 27-Feb-18 T3 - Long-Term Projections Prepare summary of issues arising from the FY18 budget for baseline 

presentation

 2.30 $ 430.00 $ 989.00 

Burr,Jeremy JB Senior 27-Feb-18 T3 - Long-Term Projections Prepare summary of revenue assumptions in the Goverment Fiscal Plan for 

baseline presentation

 1.20 $ 430.00 $ 516.00 

Burr,Jeremy JB Senior 27-Feb-18 T3 - Long-Term Projections Prepare summary of reconciliation adjustment assumptions used for FY18 

budget as it compares to FY19 baseline assumption for baseline 

presentation

 1.70 $ 430.00 $ 731.00 

Chepenik,Adam Brandon AC Partner/Principal 27-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Washington, DC to New York, NY 4.00 $ 422.50 $ 1,690.00 

Chepenik,Adam Brandon AC Partner/Principal 27-Feb-18 T3 - Long-Term Projections Update additional tax estimate readout components for long-term forecast. 0.40 $ 845.00 $ 338.00 

Malhotra,Gaurav GM Partner/Principal 27-Feb-18 T3 - Long-Term Projections Review of government fiscal Plan 2.70 $ 845.00 $ 2,281.50 

Malhotra,Gaurav GM Partner/Principal 27-Feb-18 T3 - Long-Term Projections Review of board proposal 1.80 $ 845.00 $ 1,521.00 

Malhotra,Gaurav GM Partner/Principal 27-Feb-18 T3 - Long-Term Projections Formulation of key issues and potential areas of review between fiscal plans 1.50 $ 845.00 $ 1,267.50 

Rodriguez-Ramos,Rosa M. RR Executive Director 27-Feb-18 T3 - Long-Term Projections Draft of proposed amendments and new code provisions as part of tax 

reform proposal. read and review pages 124 to184. prepared summary of 

highlights of such provisions. includes subject matters related to wht at 

source, non-deductibility of certain items if not properly deposited or 

reported, new requirements related to submission of audited financial 

statements among others

 1.10 $ 788.00 $ 866.80 

Chepenik,Adam Brandon AC Partner/Principal 27-Feb-18 T3 - Long-Term Projections Participate in meeting on **measures** estimates with government and 

board advisors to diligence long-term fiscal plan estimates. Participants 

include J Santambogio (EY), A Chepenik (EY), S Panagiatakas (EY), 

Conway Mackenzie Mckinsey Ankura Blue House Capital teams

 2.90 $ 845.00 $ 2,450.50 

Santambrogio,Juan JS Executive Director 27-Feb-18 T3 - Long-Term Projections Participate in meeting on **measures** estimates with government and 

board advisors to diligence long-term fiscal plan estimates. Participants 

include J Santambogio (EY), A Chepenik (EY), S Panagiatakas (EY), 

Conway Mackenzie Mckinsey Ankura Blue House Capital teams

 2.90 $ 788.00 $ 2,285.20 

Panagiotakis,Sofia SP Manager 27-Feb-18 T3 - Long-Term Projections Participate in meeting on **measures** estimates with government and 

board advisors to diligence long-term fiscal plan estimates. Participants 

include J Santambogio (EY), A Chepenik (EY), S Panagiatakas (EY), 

Conway Mackenzie Mckinsey Ankura Blue House Capital teams

 2.90 $ 578.00 $ 1,676.20 

Chepenik,Adam Brandon AC Partner/Principal 27-Feb-18 T3 - Long-Term Projections Call with C Rivas (OMB), M Tullia (Board), J Santambrogio and S. 

Panagiotakis (EY), J Reed (Mckinsey), T Duvall (Mckinsey) to discuss 

forecasting overages as part of the fiscal plan process.

 1.30 $ 845.00 $ 1,098.50 

Santambrogio,Juan JS Executive Director 27-Feb-18 T3 - Long-Term Projections Call with C Rivas (OMB), M Tullia (Board), A. Chepenil and S. 

Panagiotakis (EY), J Reed (Mckinsey), T Duvall (Mckinsey) to discuss 

forecasting overages as part of the fiscal plan process.

 1.30 $ 788.00 $ 1,024.40 

Panagiotakis,Sofia SP Manager 27-Feb-18 T3 - Long-Term Projections Call with C Rivas (OMB), M Tullia (Board), A. Chepenil and J 

Santambrogio (EY), J Reed (Mckinsey), T Duvall (Mckinsey) to discuss 

forecasting overages as part of the fiscal plan process

 1.30 $ 578.00 $ 751.40 

Chepenik,Adam Brandon AC Partner/Principal 27-Feb-18 T3 - Long-Term Projections Participate in meeting on **baseline** estimates with government and 

board advisors to diligence long-term fiscal plan estimates. Participants 

include J Santambogio (EY), A Chepenik (EY), S Panagiatakas (EY), 

Conway Mackenzie Mckinsey Ankura Blue House Capital teams

 3.60 $ 845.00 $ 3,042.00 

Santambrogio,Juan JS Executive Director 27-Feb-18 T3 - Long-Term Projections Participate in meeting on **baseline** estimates with government and 

board advisors to diligence long-term fiscal plan estimates. Participants 

include J Santambogio (EY), A Chepenik (EY), S Panagiatakas (EY), 

Conway Mackenzie Mckinsey Ankura Blue House Capital teams

 3.60 $ 788.00 $ 2,836.80 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 18 of 55
Exhibit C 19 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Panagiotakis,Sofia SP Manager 27-Feb-18 T3 - Long-Term Projections Participate in meeting on **baseline** estimates with government and 

board advisors to diligence long-term fiscal plan estimates. Participants 

include J Santambogio (EY), A Chepenik (EY), S Panagiatakas (EY), 

Conway Mackenzie Mckinsey Ankura Blue House Capital teams

 3.60 $ 578.00 $ 2,080.80 

Chepenik,Adam Brandon AC Partner/Principal 27-Feb-18 T3 - Long-Term Projections Participate in meeting with O Shah (Mckinsey), J Reed (Mckinsey), A 

Chepenik (EY), J Santambrogio (EY), and S Panagiatakas (EY) to discuss 

approach to data forecast presentation for A Matosantos (Board) and M 

Tullia (Board)

 0.60 $ 845.00 $ 507.00 

Santambrogio,Juan JS Executive Director 27-Feb-18 T3 - Long-Term Projections Participate in meeting with O Shah (Mckinsey), J Reed (Mckinsey), A 

Chepenik (EY), J Santambrogio (EY), and S Panagiatakas (EY) to discuss 

approach to data forecast presentation for A Matosantos (Board) and M 

Tullia (Board)

 0.60 $ 788.00 $ 472.80 

Panagiotakis,Sofia SP Manager 27-Feb-18 T3 - Long-Term Projections Participate in meeting with O Shah (Mckinsey), J Reed (Mckinsey), A 

Chepenik (EY), J Santambrogio (EY), and S Panagiatakas (EY) to discuss 

approach to data forecast presentation for A Matosantos (Board) and M 

Tullia (Board)

 0.60 $ 578.00 $ 346.80 

Chepenik,Adam Brandon AC Partner/Principal 27-Feb-18 T3 - Long-Term Projections Call with J Coleman (GDB), G Laverne (GDB), M Tullia (Board), J 

Santambrogio (EY), J Reed (Mckinsey), T Duvall (Mckinsey) to discuss 

their perspective on forecasting overages as part of the fiscal plan process.

 0.70 $ 845.00 $ 591.50 

Santambrogio,Juan JS Executive Director 27-Feb-18 T3 - Long-Term Projections Call with J Coleman (GDB), G Laverne (GDB), M Tullia (Board), J 

Santambrogio (EY), J Reed (Mckinsey), T Duvall (Mckinsey) to discuss 

their perspective on forecasting overages as part of the fiscal plan process.

 0.70 $ 788.00 $ 551.60 

Chepenik,Adam Brandon AC Partner/Principal 27-Feb-18 T3 - Long-Term Projections Participate in call with J Davis (Mckinsey) to discuss long term tax 

proposal impacts on projections.

 0.20 $ 845.00 $ 169.00 

Yano,Brian BY Senior Manager 27-Feb-18 T3 - Long-Term Projections Review deck with historical AP analysis on Commonwealth general fund 0.90 $ 701.00 $ 630.90 

Porepa,Jodi JP Senior Manager 28-Feb-18 T3 - Long-Term Projections Identify additional considerations for omnibus resolution 2.20 $ 701.00 $ 1,542.20 

Porepa,Jodi JP Senior Manager 28-Feb-18 T3 - Long-Term Projections Review government payables estimate 1.20 $ 701.00 $ 841.20 

Loh,Carmen Chng Wen CL Senior 28-Feb-18 T3 - Long-Term Projections Prepare summary of Title III disbursements paid through reapportioned 

reserves based on the latest report received from OMB

 0.80 $ 430.00 $ 344.00 

Aldana Herbas,Jose 

Alberto

HA Staff 28-Feb-18 T3 - Long-Term Projections Review functional structure of the Government of Puerto Rico provided by 

Ankuar

 1.40 $ 236.00 $ 330.40 

Loh,Carmen Chng Wen CL Senior 28-Feb-18 T3 - Long-Term Projections Review covered entities and commonwealth agencies listing for discussion 

with OMB on excluded agencies

 0.70 $ 430.00 $ 301.00 

Burr,Jeremy JB Senior 28-Feb-18 T3 - Long-Term Projections Prepare summary of outstanding accounts payable as of June 30, 2017 and 

February 16, 2018 for use of baseline presentation

 2.20 $ 430.00 $ 946.00 

Burr,Jeremy JB Senior 28-Feb-18 T3 - Long-Term Projections Consolidate all FOMB presentation slides for the baseline presentation with 

A Matosantos (FOMB) including reconciliation adjustment ("RA"), FP 1.0 

to 2.0 bridge, discussions with Gov't officials, and YTD budget expense 

over-runs

 3.30 $ 430.00 $ 1,419.00 

Burr,Jeremy JB Senior 28-Feb-18 T3 - Long-Term Projections Prepare a presentation of all agencies contributing and receiving pension 

obligations for inclusion in the baseline presentation

 1.90 $ 430.00 $ 817.00 

Burr,Jeremy JB Senior 28-Feb-18 T3 - Long-Term Projections Prepare for meeting with A Matosantos Meeting by meeting with M Tulla 

(FOMB), L Olazabal (FOMB), O Shah (Mckinsey), J Reed (Mckinsey), A 

Chepenik (EY), J Burr (EY), S Panagiotakis (EY), and J Santambrogio 

(EY) to discuss baseline forecast estimates

 3.40 $ 430.00 $ 1,462.00 

Chepenik,Adam Brandon AC Partner/Principal 28-Feb-18 T3 - Long-Term Projections Prepare for meeting with A Matosantos Meeting by meeting with M Tullia 

(FOMB), L Olazabal (FOMB), O Shah (Mckinsey), J Reed (Mckinsey), A 

Chepenik (EY), J Burr (EY), S Panagiotakis (EY), and J Santambrogio 

(EY) to discuss baseline forecast estimates

 3.40 $ 845.00 $ 2,873.00 

Panagiotakis,Sofia SP Manager 28-Feb-18 T3 - Long-Term Projections Prepare for meeting with A Matosantos Meeting by meeting with M Tullia 

(FOMB), L Olazabal (FOMB), O Shah (Mckinsey), J Reed (Mckinsey), A 

Chepenik (EY), J Burr (EY), S Panagiotakis (EY), and J Santambrogio 

(EY) to discuss baseline forecast estimates

 3.40 $ 578.00 $ 1,965.20 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 19 of 55
Exhibit C 20 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Santambrogio,Juan JS Executive Director 28-Feb-18 T3 - Long-Term Projections Prepare for meeting with A Matosantos Meeting by meeting with M Tullia 

(FOMB), L Olazabal (FOMB), O Shah (Mckinsey), J Reed (Mckinsey), A 

Chepenik (EY), J Burr (EY), S Panagiotakis (EY), and J Santambrogio 

(EY) to discuss baseline forecast estimates

 3.40 $ 788.00 $ 2,679.20 

Chepenik,Adam Brandon AC Partner/Principal 28-Feb-18 T3 - Non-working travel (billed at 50% of rates) Travel from Washington, DC to New York, NY 4.00 $ 422.50 $ 1,690.00 

Chepenik,Adam Brandon AC Partner/Principal 28-Feb-18 T3 - Long-Term Projections Draft and send response on long term tax forecast to N Jaresko (Board) in 

response to tax readout information sent.

 0.90 $ 845.00 $ 760.50 

Chepenik,Adam Brandon AC Partner/Principal 28-Feb-18 T3 - Long-Term Projections Participate in call with E Rios (Hacienda), S Roarke (Mckinsey), J Reed 

(Mckinsey), O Shah (Mckinsey), A Chepenik (EY), S Panagiotakis (EY), J 

Santambrogio (EY) to discuss Hacienda long-term revenue forecast.

 1.10 $ 845.00 $ 929.50 

Panagiotakis,Sofia SP Manager 28-Feb-18 T3 - Long-Term Projections Participate in call with E Rios (Hacienda), S Roarke (Mckinsey), J Reed 

(Mckinsey), O Shah (Mckinsey), A Chepenik (EY), S Panagiotakis (EY), J 

Santambrogio (EY) to discuss Hacienda long-term revenue forecast.

 1.10 $ 578.00 $ 635.80 

Santambrogio,Juan JS Executive Director 28-Feb-18 T3 - Long-Term Projections Participate in call with E Rios (Hacienda), S Roarke (Mckinsey), J Reed 

(Mckinsey), O Shah (Mckinsey), A Chepenik (EY), S Panagiotakis (EY), J 

Santambrogio (EY) to discuss Hacienda long-term revenue forecast.

 1.10 $ 788.00 $ 866.80 

Chepenik,Adam Brandon AC Partner/Principal 28-Feb-18 T3 - Long-Term Projections Collect and send information on org charts to S Negron (FOMB) for 

FOMB consideration.

 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 28-Feb-18 T3 - Long-Term Projections Overnight working session to continue preparations for meeting with A 

Matosantos (FOMB), led by M Tullia (FOMB), L Olazabal (FOMB), O 

Shah (Mckinsey), J Reed (Mckinsey), A Chepenik (EY), S Panagiotakis 

(EY) and J Santambrogio (EY)

 3.60 $ 845.00 $ 3,042.00 

Panagiotakis,Sofia SP Manager 28-Feb-18 T3 - Long-Term Projections Participate in call with E Rios (Hacienda), S Roarke (Mckinsey), J Reed 

(Mckinsey), O Shah (Mckinsey), A Chepenik (EY), S Panagiotakis (EY), J 

Santambrogio (EY) to discuss Hacienda long-term revenue forecast.

 3.60 $ 578.00 $ 2,080.80 

Santambrogio,Juan JS Executive Director 28-Feb-18 T3 - Long-Term Projections Participate in call with E Rios (Hacienda), S Roarke (Mckinsey), J Reed 

(Mckinsey), O Shah (Mckinsey), A Chepenik (EY), S Panagiotakis (EY), J 

Santambrogio (EY) to discuss Hacienda long-term revenue forecast.

 3.60 $ 788.00 $ 2,836.80 

Hymovitz Cardona,Pablo S CH Executive Director 28-Feb-18 T3 - Long-Term Projections Review questions sent by N Jaresko (Board) related to 25% limitation 

imposed on credits issued under incentives laws and provide analysis and 

commentary

 1.50 $ 788.00 $ 1,182.00 

Santambrogio,Juan JS Executive Director 28-Feb-18 T3 - Long-Term Projections Participate in call with Conway Mackenzie to discuss FY18 revenue 

assumptions

 0.90 $ 788.00 $ 709.20 

Santambrogio,Juan JS Executive Director 28-Feb-18 T3 - Long-Term Projections Amend materials to be used in presentation to A Matosantos (FOMB) 

regarding FY18 baseline

 3.20 $ 788.00 $ 2,521.60 

Santambrogio,Juan JS Executive Director 28-Feb-18 T3 - Long-Term Projections Draft slides on reconvciliation adjustment for meeting with FOMB and 

advisors

 1.60 $ 788.00 $ 1,260.80 

Panagiotakis,Sofia SP Manager 28-Feb-18 T3 - Long-Term Projections Prepare slides for meeting with A. Matosantos (Board) to explain changes 

in controls and reporting from the first fiscal plan to the current fiscal plan 

and for the general fund forecast.

 1.80 $ 578.00 $ 1,040.40 

Panagiotakis,Sofia SP Manager 28-Feb-18 T3 - Long-Term Projections Revise slides for meeting with A. Matosantos (Board) based on comments 

meeting with McKinsey, M. Tulla (FOMB) and J. Santambrogio (EY). 

Revise reconciliation adjustment slides, General Fund forecast slides and 

AP slides

 2.10 $ 578.00 $ 1,213.80 

Panagiotakis,Sofia SP Manager 28-Feb-18 T3 - Long-Term Projections Participate in meeting with L. Olazabal (FOMB), E. Arroyo (FOMB) to 

discuss the Government's AP forecast to determine what should be included 

in the presentation.

 0.80 $ 578.00 $ 462.40 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 20 of 55
Exhibit C 21 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 1-Mar-18 T3 - Long-Term Projections Participate in pre- working session on central government plan with Board 

and N Jaresko (Board) to prepare for meeting with the Governor. 

Participants include A Wolfe (Board), Board members, N Jaresko (Board), 

Mckinsey, Citi, A Chepenik (EY), J Santambrogio (EY), G Malhotra (EY).

 3.10 $ 845.00 $ 2,619.50 

Santambrogio,Juan JS Executive Director 1-Mar-18 T3 - Long-Term Projections Participate in pre- working session on central government plan with Board 

and N Jaresko (Board) to prepare for meeting with the Governor. 

Participants include A Wolfe (Board), Board members, N Jaresko (Board), 

Mckinsey, Citi, A Chepenik (EY), J Santambrogio (EY), G Malhotra (EY).

 3.10 $ 788.00 $ 2,442.80 

Chepenik,Adam Brandon AC Partner/Principal 1-Mar-18 T3 - Long-Term Projections Meeting with A Matosantos (FOMB), M Tulla (FOMB), L Olazabal 

(FOMB), O Shah (Mckinsey), J Reed (Mckinsey), A Chepenik (EY), S 

Panagiotakis (EY), J Santambrogio (EY) and J Burr (EY) to discuss data 

and analytics around reconciliation adjustment and ability to remove or 

keep it

 2.80 $ 845.00 $ 2,366.00 

Santambrogio,Juan JS Executive Director 1-Mar-18 T3 - Long-Term Projections Meeting with A Matosantos (FOMB), M Tulla (FOMB), L Olazabal 

(FOMB), O Shah (Mckinsey), J Reed (Mckinsey), A Chepenik (EY), S 

Panagiotakis (EY), J Santambrogio (EY) and J Burr (EY) to discuss data 

and analytics around reconciliation adjustment and ability to remove or 

keep it

 2.80 $ 788.00 $ 2,206.40 

Chepenik,Adam Brandon AC Partner/Principal 1-Mar-18 T3 - Long-Term Projections Meeting with M Tullia (FOMB), L Olazabal (FOMB), O Shah (Mckinsey), 

J Reed (Mckinsey), A Chepenik (EY), J Burr (EY), S Panagiotakis (EY), J 

Santambrogio (EY), and A Wolfe (Board) to finalize preparations for 

meeting with A Matosantos (Board)

 2.60 $ 845.00 $ 2,197.00 

Chepenik,Adam Brandon AC Partner/Principal 1-Mar-18 T3 - Long-Term Projections Prepare for pre- working session before board meeting. Participants 

include A Chepenik (EY), J Santambrogio (EY), G Malhotra (EY).

 2.60 $ 845.00 $ 2,197.00 

Santambrogio,Juan JS Executive Director 1-Mar-18 T3 - Long-Term Projections Meeting with M Tullia (FOMB), L Olazabal (FOMB), O Shah (Mckinsey), 

J Reed (Mckinsey), A Chepenik (EY), J Burr (EY), S Panagiotakis (EY), J 

Santambrogio (EY), and A Wolfe (Board) to finalize preparations for 

meeting with A Matosantos (Board)

 2.60 $ 788.00 $ 2,048.80 

Santambrogio,Juan JS Executive Director 1-Mar-18 T3 - Long-Term Projections Prepare for pre- working session before board meeting. Participants 

include A Chepenik (EY), J Santambrogio (EY), G Malhotra (EY).

 2.60 $ 788.00 $ 2,048.80 

Burr,Jeremy JB Senior 1-Mar-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to Chicago, IL 4.00 $ 215.00 $ 860.00 

Panagiotakis,Sofia SP Manager 1-Mar-18 T3 - Long-Term Projections Meeting with A Matosantos (FOMB), M Tulla (FOMB), L Olazabal 

(FOMB), O Shah (Mckinsey), J Reed (Mckinsey), A Chepenik (EY), S 

Panagiotakis (EY), J Santambrogio (EY) and J Burr (EY) to discuss data 

and analytics around reconciliation adjustment and ability to remove or 

keep it

 2.80 $ 578.00 $ 1,618.40 

Panagiotakis,Sofia SP Manager 1-Mar-18 T3 - Long-Term Projections Meeting with M Tullia (FOMB), L Olazabal (FOMB), O Shah (Mckinsey), 

J Reed (Mckinsey), A Chepenik (EY), J Burr (EY), S Panagiotakis (EY), J 

Santambrogio (EY), and A Wolfe (Board) to finalize preparations for 

meeting with A Matosantos (Board)

 2.60 $ 578.00 $ 1,502.80 

Chepenik,Adam Brandon AC Partner/Principal 1-Mar-18 T3 - Long-Term Projections Participate in pre- working session on PREPA and PRASA fiscal plans with 

Board and N Jaresko (Board) to prepare for meeting with the Governor. 

Participants include A Wolfe (Board), Board members, N Jaresko (Board), 

Mckinsey, Citi, A Chepenik (EY), J Santambrogio (EY), G Malhotra (EY).

 1.70 $ 845.00 $ 1,436.50 

Santambrogio,Juan JS Executive Director 1-Mar-18 T3 - Long-Term Projections Participate in pre- working session on PREPA and PRASA fiscal plans with 

Board and N Jaresko (Board) to prepare for meeting with the Governor. 

Participants include A Wolfe (Board), Board members, N Jaresko (Board), 

Mckinsey, Citi, A Chepenik (EY), J Santambrogio (EY), G Malhotra (EY).

 1.70 $ 788.00 $ 1,339.60 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 21 of 55
Exhibit C 22 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Burr,Jeremy JB Senior 1-Mar-18 T3 - Long-Term Projections Meeting with A Matosantos (FOMB), M Tulla (FOMB), L Olazabal 

(FOMB), O Shah (Mckinsey), J Reed (Mckinsey), A Chepenik (EY), S 

Panagiotakis (EY), J Santambrogio (EY) and J Burr (EY) to discuss data 

and analytics around reconciliation adjustment and ability to remove or 

keep it

 2.80 $ 430.00 $ 1,204.00 

Burr,Jeremy JB Senior 1-Mar-18 T3 - Long-Term Projections Meeting with M Tullia (FOMB), L Olazabal (FOMB), O Shah (Mckinsey), 

J Reed (Mckinsey), A Chepenik (EY), J Burr (EY), S Panagiotakis (EY), J 

Santambrogio (EY), and A Wolfe (Board) to finalize preparations for 

meeting with A Matosantos (Board)

 2.60 $ 430.00 $ 1,118.00 

Yano,Brian BY Senior Manager 1-Mar-18 T3 - Long-Term Projections Review COSSEC's 2017 fiscal plan to address open questions 1.30 $ 701.00 $ 911.30 

Malhotra,Gaurav GM Partner/Principal 1-Mar-18 T3 - Long-Term Projections Prepare for all day meetinf with the Board and other advisors 0.70 $ 845.00 $ 591.50 

Hymovitz Cardona,Pablo S CH Executive Director 1-Mar-18 T3 - Long-Term Projections Review documentation and analysis from work group related to principles 

of PR tax reform.

 0.70 $ 788.00 $ 551.60 

Aldana Herbas,Jose 

Alberto

HA Staff 1-Mar-18 T3 - Long-Term Projections Analysis of COSSEC's Fiscal Plan as of August 2017, with emphasis on 

capital and liquidity scenarios

 2.20 $ 236.00 $ 519.20 

Aldana Herbas,Jose 

Alberto

HA Staff 1-Mar-18 T3 - Long-Term Projections Reviewof NCUA's stress testing and capital analysis of COSSEC 2.20 $ 236.00 $ 519.20 

Panagiotakis,Sofia SP Manager 1-Mar-18 T3 - Long-Term Projections Revise reconciliation adjustment slides for meeting with A. Matosantos 

based on pre-meeting with team.

 0.70 $ 578.00 $ 404.60 

Panagiotakis,Sofia SP Manager 1-Mar-18 T3 - Long-Term Projections Participate in meeting with J. Reed (McKinsey) to discuss changes to the 

deck for the FOMB meeting.

 0.60 $ 578.00 $ 346.80 

Malhotra,Gaurav GM Partner/Principal 1-Mar-18 T3 - Long-Term Projections Participate in pre- working session on central government plan with Board 

and N Jaresko (Board) to prepare for meeting with the Governor. 

Participants include A Wolfe (Board), Board members, N Jaresko (Board), 

Mckinsey, Citi, A Chepenik (EY), J Santambrogio (EY), G Malhotra (EY).

 3.10 $ 845.00 $ 2,619.50 

Malhotra,Gaurav GM Partner/Principal 1-Mar-18 T3 - Long-Term Projections Prepare for pre- working session before board meeting. Participants 

include A Chepenik (EY), J Santambrogio (EY), G Malhotra (EY).

 2.60 $ 845.00 $ 2,197.00 

Malhotra,Gaurav GM Partner/Principal 1-Mar-18 T3 - Long-Term Projections Participate in pre- working session on PREPA and PRASA fiscal plans with 

Board and N Jaresko (Board) to prepare for meeting with the Governor. 

Participants include A Wolfe (Board), Board members, N Jaresko (Board), 

Mckinsey, Citi, A Chepenik (EY), J Santambrogio (EY), G Malhotra (EY).

 1.70 $ 845.00 $ 1,436.50 

Chepenik,Adam Brandon AC Partner/Principal 2-Mar-18 T3 - Long-Term Projections Participate in ***mid day*** briefings with N Jaresko (FOMB), board 

members, Mckinsey, and Citi to discuss ongoing negotiations with 

Governor and government.

 2.90 $ 845.00 $ 2,450.50 

Chepenik,Adam Brandon AC Partner/Principal 2-Mar-18 T3 - Long-Term Projections Participate in ***morning*** meeting with N Jaresko (FOMB), Board 

members, Citi, Mckinsey, in preparation for negotiations with Governor 

and government team on long-term fiscal plan.

 2.40 $ 845.00 $ 2,028.00 

Santambrogio,Juan JS Executive Director 2-Mar-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to Atlanta, GA 2.50 $ 394.00 $ 985.00 

Loh,Carmen Chng Wen CL Senior 2-Mar-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to Washington, DC 4.20 $ 215.00 $ 903.00 

Yano,Brian BY Senior Manager 2-Mar-18 T3 - Long-Term Projections Review COSSEC analysis on the cooperatives 2.40 $ 701.00 $ 1,682.40 

Chepenik,Adam Brandon AC Partner/Principal 2-Mar-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to Washington, DC 1.50 $ 422.50 $ 633.75 

Mackie,James JM Executive Director 2-Mar-18 T3 - Long-Term Projections Assist with evaluation of long-term tax reform proposal considerations for 

N Jaresko (FOMB) review

 1.30 $ 788.00 $ 1,024.40 

Chepenik,Adam Brandon AC Partner/Principal 2-Mar-18 T3 - Long-Term Projections Work on long-term projections for update to fiscal plan analysis 0.80 $ 845.00 $ 676.00 

Porepa,Jodi JP Senior Manager 2-Mar-18 T3 - Long-Term Projections Provide comments on Government proposed report. 1.20 $ 701.00 $ 841.20 

Yano,Brian BY Senior Manager 2-Mar-18 T3 - Long-Term Projections Review draft instrumentality package for 3/5 meeting with FOMB staff 0.80 $ 701.00 $ 560.80 

Chepenik,Adam Brandon AC Partner/Principal 2-Mar-18 T3 - Long-Term Projections Call with F Pares (Hacienda), J Davis (Mckinsey), C Loh (EY), Deloitte, 

and A Chepenik (EY) to discuss tax working group work plan and process 

for the next several days.

 0.60 $ 845.00 $ 507.00 

Hymovitz Cardona,Pablo S CH Executive Director 2-Mar-18 T3 - Long-Term Projections Conference call with A Chepnik (EY) regarding development of revised 

proposal for a tax system.

 0.60 $ 788.00 $ 472.80 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 22 of 55
Exhibit C 23 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Aldana Herbas,Jose 

Alberto

HA Staff 2-Mar-18 T3 - Long-Term Projections Review working draft of PRASA's Fiscal Plan as of February 26, 2018 1.90 $ 236.00 $ 448.40 

Aldana Herbas,Jose 

Alberto

HA Staff 2-Mar-18 T3 - Long-Term Projections Continue analysis of NCUA's stress testing and capital analysis of COSSEC 1.80 $ 236.00 $ 424.80 

Chepenik,Adam Brandon AC Partner/Principal 2-Mar-18 T3 - Long-Term Projections Participate in meeting with B Yano (EY), J Alberto Aldana Herbas (EY) 

and A Chepenik (EY) to discuss COSSEC budget process and capital 

needs

 0.50 $ 845.00 $ 422.50 

Chepenik,Adam Brandon AC Partner/Principal 2-Mar-18 T3 - Long-Term Projections Participate in readout from government working group session with Board. 

readout led by N Jaresko (FOMB), with Mckinsey, Citi, A Wolfe (FOMB

 0.40 $ 845.00 $ 338.00 

Loh,Carmen Chng Wen CL Senior 2-Mar-18 T3 - Long-Term Projections Call with F Pares (Hacienda), J Davis (Mckinsey), C Loh (EY), Deloitte, 

and A Chepenik (EY) to discuss tax working group work plan and process 

for the next several days.

 0.60 $ 430.00 $ 258.00 

Loh,Carmen Chng Wen CL Senior 2-Mar-18 T3 - Long-Term Projections Prepare initial workplan for fiscal plan tax reform projections working 

group revisions 

 0.60 $ 430.00 $ 258.00 

Chepenik,Adam Brandon AC Partner/Principal 2-Mar-18 T3 - Long-Term Projections Participate in ***afternoon*** briefings with N Jaresko (FOMB), board 

members, Mckinsey, and Citi to discuss ongoing negotiations with 

Governor and government

 0.30 $ 845.00 $ 253.50 

Mackie,James JM Executive Director 2-Mar-18 T3 - Long-Term Projections Participate in call on PR tax reform analysis with A Chepenik (EY) 0.30 $ 788.00 $ 236.40 

Loh,Carmen Chng Wen CL Senior 2-Mar-18 T3 - Long-Term Projections Prepare revenue neutrality schedule for tax reform projections review for 

the working group between the Government and the FOMB

 0.40 $ 430.00 $ 172.00 

Yano,Brian BY Senior Manager 2-Mar-18 T3 - Long-Term Projections Review readout from FOMB 3.2 team call 0.20 $ 701.00 $ 140.20 

Loh,Carmen Chng Wen CL Senior 2-Mar-18 T3 - Long-Term Projections Revise docs for meeting with E.A. on key topics under discussion 0.20 $ 430.00 $ 86.00 

Chepenik,Adam Brandon AC Partner/Principal 2-Mar-18 T3 - Long-Term Projections Conference call with P Hymovitz (EY) regarding development of revised 

proposal for a tax system.

 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 4-Mar-18 T3 - Long-Term Projections Participate in kickoff working group session with R Maldonado (Hacienda), 

E Rios (Hacienda), F Pares (Hacienda), M Laboy (DDEC), C Sobrino 

(Fortaleza), A Chepenik (EY), C Loh (EY), J Davis (Mckinsey) to start 

discussing long-term forecast for tax reform

 4.10 $ 845.00 $ 3,464.50 

Loh,Carmen Chng Wen CL Senior 4-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel from Washington, DC to San Juan, PR for meetings with 

FOMB staff

 6.30 $ 215.00 $ 1,354.50 

Chepenik,Adam Brandon AC Partner/Principal 4-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel from Washington, DC to San Juan, PR for meetings with 

FOMB staff

 3.00 $ 422.50 $ 1,267.50 

Loh,Carmen Chng Wen CL Senior 4-Mar-18 T3 - Long-Term Projections Participate in kickoff working group session with R Maldonado (Hacienda), 

E Rios (Hacienda), F Pares (Hacienda), M Laboy (DDEC), C Sobrino 

(Fortaleza), A Chepenik (EY), C Loh (EY), J Davis (Mckinsey) to start 

discussing long-term forecast for tax reform

 4.10 $ 430.00 $ 1,763.00 

Santambrogio,Juan JS Executive Director 4-Mar-18 T3 - Long-Term Projections Review tax reform status update document for Fiscal Plan 0.80 $ 788.00 $ 630.40 

Chepenik,Adam Brandon AC Partner/Principal 4-Mar-18 T3 - Long-Term Projections Email communication to FOMB and N Jaresko (FOMB) with readout from 

first working group meeting on tax reform for the fiscal plan.

 0.30 $ 845.00 $ 253.50 

Loh,Carmen Chng Wen CL Senior 4-Mar-18 T3 - Long-Term Projections Analyze the tax reform proposal document for expense and revenue 

forecast on proposed initiaves as of Feb 2018

 0.80 $ 430.00 $ 344.00 

Chepenik,Adam Brandon AC Partner/Principal 4-Mar-18 T3 - Long-Term Projections Participate in call with S O'Rourke (Mckinsey), J Reed (Mckinsey), O Shah 

(Mckinsey), J Santambrogio (EY), A Chepenik (EY), S Panagiotakis (EY), 

to discuss budget forecast process for certain special revenue funds.

 0.40 $ 845.00 $ 338.00 

Santambrogio,Juan JS Executive Director 4-Mar-18 T3 - Long-Term Projections Participate in call with S O'Rourke (Mckinsey), J Reed (Mckinsey), O Shah 

(Mckinsey), J Santambrogio (EY), A Chepenik (EY), S Panagiotakis (EY), 

to discuss budget forecast process for certain special revenue funds.

 0.40 $ 788.00 $ 315.20 

Loh,Carmen Chng Wen CL Senior 4-Mar-18 T3 - Long-Term Projections Prepare analysis for tax reform measures and identify revenue contributors 

and cost areas

 0.70 $ 430.00 $ 301.00 

Panagiotakis,Sofia SP Manager 4-Mar-18 T3 - Long-Term Projections Participate in call with S O'Rourke (Mckinsey), J Reed (Mckinsey), O Shah 

(Mckinsey), J Santambrogio (EY), A Chepenik (EY), S Panagiotakis (EY), 

to discuss budget forecast process for certain special revenue funds

 0.40 $ 578.00 $ 231.20 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 23 of 55
Exhibit C 24 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 5-Mar-18 T3 - Long-Term Projections Participate in working group meeting with R Maldonado (Hacienda), E 

Rios (Hacienda), F Pares (Hacienda), A Chepenik (EY), C Loh (EY), D 

Mullins (EY), J Mackie (EY), J Davis (Mckinsey) to discuss long-term tax 

reform forecast

 2.80 $ 845.00 $ 2,366.00 

Mackie,James JM Executive Director 5-Mar-18 T3 - Long-Term Projections Participate in working group meeting with R Maldonado (Hacienda), E 

Rios (Hacienda), F Pares (Hacienda), A Chepenik (EY), C Loh (EY), D 

Mullins (EY), J Mackie (EY), J Davis (Mckinsey) to discuss long-term tax 

reform forecast

 2.80 $ 788.00 $ 2,206.40 

Mullins,Daniel R DM Executive Director 5-Mar-18 T3 - Long-Term Projections Participate in working group meeting with R Maldonado (Hacienda), E 

Rios (Hacienda), F Pares (Hacienda), A Chepenik (EY), C Loh (EY), D 

Mullins (EY), J Mackie (EY), J Davis (Mckinsey) to discuss long-term tax 

reform forecast

 2.80 $ 788.00 $ 2,206.40 

Porepa,Jodi JP Senior Manager 5-Mar-18 T3 - Long-Term Projections Update revised guidelines for milestone 4. 3.00 $ 701.00 $ 2,103.00 

Yano,Brian BY Senior Manager 5-Mar-18 T3 - Long-Term Projections Review latest FY19 budget process deck for PRASA for latest updates to 

address feedback from FOMB staff

 2.20 $ 701.00 $ 1,542.20 

Chepenik,Adam Brandon AC Partner/Principal 5-Mar-18 T3 - Long-Term Projections Call with J Mackie (EY) and A Chepenik (EY) to discuss N Jaresko 

(FOMB) request for changes to GILTI provisions in Federal tax.

 1.50 $ 845.00 $ 1,267.50 

Loh,Carmen Chng Wen CL Senior 5-Mar-18 T3 - Long-Term Projections Participate in working group meeting with R Maldonado (Hacienda), E 

Rios (Hacienda), F Pares (Hacienda), A Chepenik (EY), C Loh (EY), D 

Mullins (EY), J Mackie (EY), J Davis (Mckinsey) to discuss long-term tax 

reform forecast

 2.80 $ 430.00 $ 1,204.00 

Yano,Brian BY Senior Manager 5-Mar-18 T3 - Long-Term Projections Review latest draft of the instrumentality package for meeting with FOMB 

staff

 1.70 $ 701.00 $ 1,191.70 

Santambrogio,Juan JS Executive Director 5-Mar-18 T3 - Long-Term Projections Review FY18 Budget to Fiscal plan bridge analysis 1.40 $ 788.00 $ 1,103.20 

Porepa,Jodi JP Senior Manager 5-Mar-18 T3 - Long-Term Projections Review updated payables information. 1.40 $ 701.00 $ 981.40 

Chepenik,Adam Brandon AC Partner/Principal 5-Mar-18 T3 - Long-Term Projections Draft and transmit summary email on conversations on long-term 

projections to N Jaresko (FOMB) and FOMB members.

 1.10 $ 845.00 $ 929.50 

Porepa,Jodi JP Senior Manager 5-Mar-18 T3 - Long-Term Projections Analyze specific financial analysis provided requested by Board. 1.10 $ 701.00 $ 771.10 

Chepenik,Adam Brandon AC Partner/Principal 5-Mar-18 T3 - Long-Term Projections Participate in pre-meeting with J Davis (Mckinsey), A Chepenik (EY), C 

Loh (EY)to prepare for Hacienda meeting on long-term tax reform forecast.

 0.90 $ 845.00 $ 760.50 

Chepenik,Adam Brandon AC Partner/Principal 5-Mar-18 T3 - Long-Term Projections Meeting with C Loh (EY) and A Chepenik (EY) to discuss tax reform 

projections next steps.

 0.90 $ 845.00 $ 760.50 

Loh,Carmen Chng Wen CL Senior 5-Mar-18 T3 - Long-Term Projections Update analysis for tax reform measures to reflect latest revenue and 

expense contributors in the long term projections round matters revenue 

neutrality

 1.30 $ 430.00 $ 559.00 

Chepenik,Adam Brandon AC Partner/Principal 5-Mar-18 T3 - Long-Term Projections Participate in call with R Maldonado (Hacienda) and F Parez (Hacienda) to 

discuss Hacienda's proposal for pay fors to offset tax reform projected 

losses.

 0.60 $ 845.00 $ 507.00 

Loh,Carmen Chng Wen CL Senior 5-Mar-18 T3 - Long-Term Projections Participate in pre-meeting with J Davis (Mckinsey), A Chepenik (EY), C 

Loh (EY)to prepare for Hacienda meeting on long-term tax reform forecast.

 0.90 $ 430.00 $ 387.00 

Loh,Carmen Chng Wen CL Senior 5-Mar-18 T3 - Long-Term Projections Meeting with C Loh (EY) and A Chepenik (EY) to discuss tax reform 

projections next steps

 0.90 $ 430.00 $ 387.00 

Mackie,James JM Executive Director 5-Mar-18 T3 - Long-Term Projections Call with J Mackie (EY) and A Chepenik (EY) to discuss N Jaresko 

(FOMB) request for changes to GILTI provisions in Federal tax.

 1.50 $ 788.00 $ 1,182.00 

Chepenik,Adam Brandon AC Partner/Principal 6-Mar-18 T3 - Long-Term Projections Participate in diligence session with F Pena (Hacienda), J Davis 

(Mckinsey), A Chepenik (EY), C Loh (EY), E Rios (Hacienda), H Arronoz 

(Deloitte) to discuss payfor alternatives

 2.60 $ 845.00 $ 2,197.00 

Chepenik,Adam Brandon AC Partner/Principal 6-Mar-18 T3 - Long-Term Projections Participate in working group meeting with R Maldonado (Hacienda), E 

Rios (Hacienda), F Pares (Hacienda), M Laboy (DDEC), A Chepenik (EY), 

C Loh (EY), D Mullins (EY), J Mackie (EY), J Davis (Mckinsey) to 

discuss tax credits and tax subsidies

 2.50 $ 845.00 $ 2,112.50 

Chepenik,Adam Brandon AC Partner/Principal 6-Mar-18 T3 - Long-Term Projections Prepare developing tax presentation and model for long-term forecast 

discussion with FOMB members.

 2.40 $ 845.00 $ 2,028.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 24 of 55
Exhibit C 25 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Mackie,James JM Executive Director 6-Mar-18 T3 - Long-Term Projections Participate in working group meeting with R Maldonado (Hacienda), E 

Rios (Hacienda), F Pares (Hacienda), M Laboy (DDEC), A Chepenik (EY), 

C Loh (EY), D Mullins (EY), J Mackie (EY), J Davis (Mckinsey) to 

discuss tax credits and tax subsidies

 2.50 $ 788.00 $ 1,970.00 

Chepenik,Adam Brandon AC Partner/Principal 6-Mar-18 T3 - Long-Term Projections Participate in follow up meeting to discuss pay fors and tax credit 

assumptions for long-term tax projections with F Pena (Hacienda), E Rios 

(Hacienda) A Chepenik (EY) C Loh (EY) J Davis (Mckinsey)

 1.90 $ 845.00 $ 1,605.50 

Malhotra,Gaurav GM Partner/Principal 6-Mar-18 T3 - Long-Term Projections Review long term forecast estimates and bridging analysis in fiscal plan 1.60 $ 845.00 $ 1,352.00 

Chepenik,Adam Brandon AC Partner/Principal 6-Mar-18 T3 - Long-Term Projections Participate in meeting with N Jaresko (FOMB), S Negron (FOMB), C Loh 

(EY), A Chepenik (EY), J Davis (Mckinsey) to review long term tax 

planning proposal

 1.40 $ 845.00 $ 1,183.00 

Loh,Carmen Chng Wen CL Senior 6-Mar-18 T3 - Long-Term Projections Participate in diligence session with F Pares (Hacienda), J Davis 

(Mckinsey), A Chepenik (EY), C Loh (EY), E Rios (Hacienda), H Arronoz 

(Deloitte) to discuss payfor alternatives

 2.60 $ 430.00 $ 1,118.00 

Santambrogio,Juan JS Executive Director 6-Mar-18 T3 - Long-Term Projections Review analysis from Conway on mapping of cash flows to budget for 

FY17

 1.40 $ 788.00 $ 1,103.20 

Loh,Carmen Chng Wen CL Senior 6-Mar-18 T3 - Long-Term Projections Participate in working group meeting with R Maldonado (Hacienda), E 

Rios (Hacienda), F Pares (Hacienda), M Laboy (DDEC), A Chepenik (EY), 

C Loh (EY), D Mullins (EY), J Mackie (EY), J Davis (Mckinsey) to 

discuss tax credits and tax subsidies

 2.50 $ 430.00 $ 1,075.00 

Loh,Carmen Chng Wen CL Senior 6-Mar-18 T3 - Long-Term Projections Prepare analysis on the long-term tax reform proposal and 

recommendations to the FOMB based on Government data

 2.10 $ 430.00 $ 903.00 

Loh,Carmen Chng Wen CL Senior 6-Mar-18 T3 - Long-Term Projections Participate in follow up meeting to discuss pay fors and tax credit 

assumptions for long-term tax projections with F Pares (Hacienda), E Rios 

(Hacienda), A Chepenik (EY), C Loh (EY), J Davis (Mckinsey)

 1.90 $ 430.00 $ 817.00 

Porepa,Jodi JP Senior Manager 6-Mar-18 T3 - Long-Term Projections Prepare for weekly touchpoint with Oversight Board staff. 1.10 $ 701.00 $ 771.10 

Whitten III,Robert Holt IW Senior Manager 6-Mar-18 T3 - Long-Term Projections Review of draft legislative text on GILTI 1.00 $ 701.00 $ 701.00 

Mullins,Daniel R DM Executive Director 6-Mar-18 T3 - Long-Term Projections Review of government's fiscal plan and 154 projections 0.80 $ 788.00 $ 630.40 

Loh,Carmen Chng Wen CL Senior 6-Mar-18 T3 - Long-Term Projections Participate in meeting with N Jaresko (FOMB), S Negron (FOMB), C Loh 

(EY), A Chepenik (EY), J Davis (Mckinsey) to review long term tax 

planning proposal

 1.40 $ 430.00 $ 602.00 

Chepenik,Adam Brandon AC Partner/Principal 6-Mar-18 T3 - Long-Term Projections Meeting with R Maldonado (Hacienda), F Pena (Hacienda), J Davis 

(Mckinsey), A Chepenik (EY), C Loh (EY), E Rios (Hacienda) to discuss 

alternatives for long-term tax forecast.

 0.50 $ 845.00 $ 422.50 

Chepenik,Adam Brandon AC Partner/Principal 6-Mar-18 T3 - Long-Term Projections Call with T Whitten (EY), A Chepenik (EY), C Koch (EY) to discuss 

federal language to assist with tax reform.

 0.40 $ 845.00 $ 338.00 

Hymovitz Cardona,Pablo S CH Executive Director 6-Mar-18 T3 - Long-Term Projections Discuss implications of 4th quarter estimated payments on April 15th 

income tax payments.

 0.40 $ 788.00 $ 315.20 

Loh,Carmen Chng Wen CL Senior 6-Mar-18 T3 - Long-Term Projections Analyze cash grants documents from the Government in relation to the longterm tax reform forecast 0.70 $ 430.00 $ 301.00 

Mullins,Daniel R DM Executive Director 6-Mar-18 T3 - Long-Term Projections Participate in working group meeting with R Maldonado (Hacienda), E 

Rios (Hacienda), F Pares (Hacienda), M Laboy (DDEC), A Chepenik (EY), 

C Loh (EY), D Mullins (EY), J Mackie (EY), J Davis (Mckinsey) to 

discuss tax credits and tax subsidies

 2.50 $ 788.00 $ 1,970.00 

Whitten III,Robert Holt IW Senior Manager 6-Mar-18 T3 - Long-Term Projections Call with T Whitten (EY), A Chepenik (EY), C Koch (EY) to discuss 

federal language to assist with tax reform.

 0.40 $ 701.00 $ 280.40 

Koch,Cathleen M CK Partner/Principal 6-Mar-18 T3 - Long-Term Projections Call with T Whitten (EY), A Chepenik (EY), C Koch (EY) to discuss 

federal language to assist with tax reform.

 0.40 $ 845.00 $ 338.00 

Mackie,James JM Executive Director 7-Mar-18 T3 - Long-Term Projections PR Tax reform (calls & prep) 3.00 $ 788.00 $ 2,364.00 

Porepa,Jodi JP Senior Manager 7-Mar-18 T3 - Long-Term Projections Review summaries on certain agencies in advance of in-person meetings 

with agencies.

 2.10 $ 701.00 $ 1,472.10 

Chepenik,Adam Brandon AC Partner/Principal 7-Mar-18 T3 - Long-Term Projections Finalize materials to be used in call with N Jaresko (FOMB) and FOMB 

members on long-term forecast from tax reform proposal.

 1.10 $ 845.00 $ 929.50 

Loh,Carmen Chng Wen CL Senior 7-Mar-18 T3 - Long-Term Projections Update analysis on the long-term tax reform proposal based on latest 

information from the Government

 2.10 $ 430.00 $ 903.00 

Chepenik,Adam Brandon AC Partner/Principal 7-Mar-18 T3 - Long-Term Projections Draft talking points for FOMB members to use in principals discussion on 

long-term tax reform legislation and forecasting approach.

 1.20 $ 845.00 $ 1,014.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 25 of 55
Exhibit C 26 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 7-Mar-18 T3 - Long-Term Projections Draft talking points for FOMB use in principals discussion on long-term tax 

forecast.

 0.90 $ 845.00 $ 760.50 

Loh,Carmen Chng Wen CL Senior 7-Mar-18 T3 - Long-Term Projections Prepare long-term tax reform scoring and alternative scenario planning 

based on the Board's feedback on revenues generation assessment

 1.60 $ 430.00 $ 688.00 

Chepenik,Adam Brandon AC Partner/Principal 7-Mar-18 T3 - Long-Term Projections Participate in call with J Davis (Mckinsey), A Chepenik (EY), C Loh (EY), 

F Pena (Hacienda), E Rios (Hacienda) to discuss feedback from FOMB on 

preliminary views

 0.80 $ 845.00 $ 676.00 

Santambrogio,Juan JS Executive Director 7-Mar-18 T3 - Long-Term Projections Review analysis of PAYGO expense by agency related to federal funding 0.70 $ 788.00 $ 551.60 

Chepenik,Adam Brandon AC Partner/Principal 7-Mar-18 T3 - Long-Term Projections Participate in call with N Jaresko (FOMB), S Negron (FOMB), C Loh 

(EY), A Chepenik (EY), J Davis (Mckinsey), A Matosantos (FOMB), and 

JR Gonzalez (FOMB) to discuss governments long-term projections 

associated with tax reform

 0.60 $ 845.00 $ 507.00 

Panagiotakis,Sofia SP Manager 7-Mar-18 T3 - Long-Term Projections Review the OMB analysis on the explanation of Other income included in 

the FY18 budget to determine if it makes sense and should be part of the 

revised fiscal plan

 0.70 $ 578.00 $ 404.60 

Loh,Carmen Chng Wen CL Senior 7-Mar-18 T3 - Long-Term Projections Participate in call with J Davis (Mckinsey), A Chepenik (EY), C Loh (EY), 

F Pena (Hacienda), E Rios (Hacienda) to discuss feedback from FOMB on 

preliminary views.

 0.80 $ 430.00 $ 344.00 

Chepenik,Adam Brandon AC Partner/Principal 7-Mar-18 T3 - Long-Term Projections Debrief on the tax policy call and workplan for the day with J Davis 

(Mckinsey), C Loh (EY), and A Chepenik (EY).

 0.40 $ 845.00 $ 338.00 

Aldana Herbas,Jose 

Alberto

HA Staff 7-Mar-18 T3 - Long-Term Projections Analyze Puerto Rico municipal debt history 1.20 $ 236.00 $ 283.20 

Loh,Carmen Chng Wen CL Senior 7-Mar-18 T3 - Long-Term Projections Participate in call with N Jaresko (FOMB), S Negron (FOMB), C Loh 

(EY), A Chepenik (EY), J Davis (Mckinsey), A Matosantos (FOMB), and 

JR Gonzalez (FOMB) to discuss governments long-term projections 

associated with tax reform

 0.60 $ 430.00 $ 258.00 

Chepenik,Adam Brandon AC Partner/Principal 7-Mar-18 T3 - Long-Term Projections Debrief with N Jaresko (FOMB) and S Negron (FOMB) on long-term 

assumptions from tax reform proposal.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 7-Mar-18 T3 - Long-Term Projections Answer additional questions for N Jaresko (FOMB) on long-term forecast 

for FOMB call.

 0.30 $ 845.00 $ 253.50 

Loh,Carmen Chng Wen CL Senior 7-Mar-18 T3 - Long-Term Projections Prepare tax reform scoring for feedback to the Government based on 

FOMB feedback on reasonableness of revenues generation

 0.40 $ 430.00 $ 172.00 

Loh,Carmen Chng Wen CL Senior 7-Mar-18 T3 - Long-Term Projections Debrief on the tax policy call and workplan for the day with J Davis 

(Mckinsey), C Loh (EY), and A Chepenik (EY).

 0.40 $ 430.00 $ 172.00 

Santambrogio,Juan JS Executive Director 8-Mar-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to Atlanta, GA 3.50 $ 394.00 $ 1,379.00 

Chepenik,Adam Brandon AC Partner/Principal 8-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel back from San Juan, PR to Washington, DC from 

meetings with FOMB staff

 3.00 $ 422.50 $ 1,267.50 

Malhotra,Gaurav GM Partner/Principal 8-Mar-18 T3 - Long-Term Projections Continue review long term forecast estimates and bridging analysis in fiscal 

plan

 2.40 $ 845.00 $ 2,028.00 

Yano,Brian BY Senior Manager 8-Mar-18 T3 - Long-Term Projections Provide feedback on latest draft of milestone #4 and #2 for selected 

instrumentalities

 2.40 $ 701.00 $ 1,682.40 

Panagiotakis,Sofia SP Manager 8-Mar-18 T3 - Long-Term Projections Participate in call with J. Porepa (EY) and S. Panagiotakis (EY) to discuss 

the Governments fiscal plan and discuss the process to review revenue for 

the 2nd milestone.

 1.40 $ 578.00 $ 809.20 

Aldana Herbas,Jose 

Alberto

HA Staff 8-Mar-18 T3 - Long-Term Projections Prepare slides on FY19 Budget to Fiscal Plan reconciliation 2.10 $ 236.00 $ 495.60 

Aldana Herbas,Jose 

Alberto

HA Staff 8-Mar-18 T3 - Long-Term Projections Prepare slides on FY19 GF revenue key assumptions 1.80 $ 236.00 $ 424.80 

Aldana Herbas,Jose 

Alberto

HA Staff 8-Mar-18 T3 - Long-Term Projections Analyze macroeconomic assumptions in the Fiscal Plan 1.10 $ 236.00 $ 259.60 

Aldana Herbas,Jose 

Alberto

HA Staff 8-Mar-18 T3 - Long-Term Projections Review tax reform measures and scoring for the FY18 baseline 0.90 $ 236.00 $ 212.40 

Chepenik,Adam Brandon AC Partner/Principal 9-Mar-18 T3 - Long-Term Projections Participate in weekly board and advisors call led by N Jaresko (FOMB), 

FOMB board members, Mckinsey, Citi, and G Malhotra (EY), J 

Santambrogio (EY) and A Chepenik (EY)

 1.60 $ 845.00 $ 1,352.00 

Yano,Brian BY Senior Manager 9-Mar-18 T3 - Long-Term Projections Analyze PRASA liquidity scenarios slides 1.40 $ 701.00 $ 981.40 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 26 of 55
Exhibit C 27 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Loh,Carmen Chng Wen CL Senior 9-Mar-18 T3 - Long-Term Projections Prepare summary of key assumptions to the Government's fiscal plan 

baseline, forecast revenues and proposed measures 

 2.10 $ 430.00 $ 903.00 

Loh,Carmen Chng Wen CL Senior 9-Mar-18 T3 - Long-Term Projections Participate in call with S Panagiotakis, C Loh, and J Burr (EY) to discuss 

current revenue build of the fiscal plan as it relates to certifying the FY19 

budget

 1.90 $ 430.00 $ 817.00 

Burr,Jeremy JB Senior 9-Mar-18 T3 - Long-Term Projections Participate in call with S Panagiotakis, C Loh, and J Burr (EY) to discuss 

current revenue build of the fiscal plan as it relates to certifying the FY19 

budget

 1.90 $ 430.00 $ 817.00 

Loh,Carmen Chng Wen CL Senior 9-Mar-18 T3 - Long-Term Projections Review underlying assumptions to the Government's fiscal plan baseline, 

forecast revenues and proposed measures 

 1.70 $ 430.00 $ 731.00 

Chepenik,Adam Brandon AC Partner/Principal 9-Mar-18 T3 - Long-Term Projections Prepare and send analysis on revised tax plan to FOMB board members and 

N Jaresko (FOMB).

 0.80 $ 845.00 $ 676.00 

Porepa,Jodi JP Senior Manager 9-Mar-18 T3 - Long-Term Projections Review actual disaster spend reporting 0.90 $ 701.00 $ 630.90 

Aldana Herbas,Jose 

Alberto

HA Staff 9-Mar-18 T3 - Long-Term Projections Analyze PRASA's liquidity scenarios based on a variety of assumptions 2.50 $ 236.00 $ 590.00 

Santambrogio,Juan JS Executive Director 9-Mar-18 T3 - Long-Term Projections Review materials for executive FOMB call 0.70 $ 788.00 $ 551.60 

Aldana Herbas,Jose 

Alberto

HA Staff 9-Mar-18 T3 - Long-Term Projections Update list of considerations for the omnibus resolution 2.10 $ 236.00 $ 495.60 

Aldana Herbas,Jose 

Alberto

HA Staff 9-Mar-18 T3 - Long-Term Projections Analyze UPR's Fiscal Plan as of March 8, 2018 1.90 $ 236.00 $ 448.40 

Panagiotakis,Sofia SP Manager 9-Mar-18 T3 - Long-Term Projections Review the analysis provided by Hacienda on the Paygo debt from 

municipalities and public corporations to understand impact to budget.

 0.60 $ 578.00 $ 346.80 

Chepenik,Adam Brandon AC Partner/Principal 9-Mar-18 T3 - Long-Term Projections Participate in conversation with F Pares (Hacienda) to discuss long-term tax 

forecast.

 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 9-Mar-18 T3 - Long-Term Projections Participate in call with C Loh (EY) and A Chepenik (EY) to discuss revised 

tax model.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 9-Mar-18 T3 - Long-Term Projections Participate in call with N Jaresko (FOMB), S Negron (FOMB to discuss 

governor's new tax proposal.

 0.20 $ 845.00 $ 169.00 

Loh,Carmen Chng Wen CL Senior 9-Mar-18 T3 - Long-Term Projections Update long-term tax reform scoring based on the Government's latest 

proposal based on feedback from the FOMB on pay-fors

 0.30 $ 430.00 $ 129.00 

Malhotra,Gaurav GM Partner/Principal 9-Mar-18 T3 - Long-Term Projections Participate in weekly board and advisors call led by N Jaresko (FOMB), 

FOMB board members, Mckinsey, Citi, and G Malhotra (EY), J 

Santambrogio (EY) and A Chepenik (EY)

 1.60 $ 845.00 $ 1,352.00 

Santambrogio,Juan JS Executive Director 9-Mar-18 T3 - Long-Term Projections Participate in weekly board and advisors call led by N Jaresko (FOMB), 

FOMB board members, Mckinsey, Citi, and G Malhotra (EY), J 

Santambrogio (EY), and A Chepenik (EY).

 1.60 $ 788.00 $ 1,260.80 

Loh,Carmen Chng Wen CL Senior 9-Mar-18 T3 - Long-Term Projections Participate in call with C Loh (EY) and A Chepenik (EY) to discuss revised 

tax model.

 0.30 $ 430.00 $ 129.00 

Chepenik,Adam Brandon AC Partner/Principal 10-Mar-18 T3 - Long-Term Projections Call with F Pena (Hacienda), E Rios (Hacienda), and J Davis (Mckinsey) to 

discuss updated long-term projections for tax reform proposal in fiscal 

plan.

 1.10 $ 845.00 $ 929.50 

Chepenik,Adam Brandon AC Partner/Principal 10-Mar-18 T3 - Long-Term Projections Participate in pre-call with J Davis (Mckinsey) to discuss approach towards 

discussion with F Pena (Hacienda) on long term tax reform.

 0.90 $ 845.00 $ 760.50 

Chepenik,Adam Brandon AC Partner/Principal 10-Mar-18 T3 - Long-Term Projections Post call debrief conversation with J Davis (Mckinsey) on next steps and 

follow up on long-term tax reform proposal.

 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 11-Mar-18 T3 - Long-Term Projections Draft summary of conclusions to N Jaresko (FOMB) on long-term tax 

reform estimate calculations.

 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 11-Mar-18 T3 - Long-Term Projections Review and comment on J Davis (Mckinsey) projections on long-term tax 

reform calculations.

 0.40 $ 845.00 $ 338.00 

Outlaw,Jessica R. JO Manager 12-Mar-18 T3 - Non-working travel (billed at 50% of rates) Travel from Salt Lake City, UT to New York, NY 6.20 $ 289.00 $ 1,791.80 

Chepenik,Adam Brandon AC Partner/Principal 12-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel from Washington, DC to San Juan, PR for meetings with 

FOMB staff

 3.00 $ 422.50 $ 1,267.50 

Hymovitz Cardona,Pablo S CH Executive Director 12-Mar-18 T3 - Long-Term Projections Discussion with PRTD officials regarding tax reform proposals and 

government readiness to implement changes in a short time frame.

 2.30 $ 788.00 $ 1,812.40 

Yano,Brian BY Senior Manager 12-Mar-18 T3 - Long-Term Projections Review milestone #2 documents from selected instrumentalities to 

understand prior year approval process and internal projections

 2.40 $ 701.00 $ 1,682.40 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 27 of 55
Exhibit C 28 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Yano,Brian BY Senior Manager 12-Mar-18 T3 - Long-Term Projections Analyze public corps without a fiscal plan data to address FOMB requests 2.20 $ 701.00 $ 1,542.20 

Burr,Jeremy JB Senior 12-Mar-18 T3 - Long-Term Projections Review Component Unit assumptions in the FP to prepare questions for 

Gov't and support an FOMB presentation - PRIDCO, ASEM and Cardio

 3.20 $ 430.00 $ 1,376.00 

Yano,Brian BY Senior Manager 12-Mar-18 T3 - Long-Term Projections Analysis of draft deck for meeting with certain instrumentalities to discuss 

FY19 process

 1.90 $ 701.00 $ 1,331.90 

Porepa,Jodi JP Senior Manager 12-Mar-18 T3 - Long-Term Projections Update FOMB process Gnatt chart at 1.50 $ 701.00 $ 1,051.50 

Loh,Carmen Chng Wen CL Senior 12-Mar-18 T3 - Long-Term Projections Prepare breakdown of tax reform proposal estimates based on latest data 

received from the Government on specifics of revenue streams

 1.80 $ 430.00 $ 774.00 

Loh,Carmen Chng Wen CL Senior 12-Mar-18 T3 - Long-Term Projections Prepare schedule tax of credits and grants reconciling between existing 

availability and proposed changes

 1.50 $ 430.00 $ 645.00 

Panagiotakis,Sofia SP Manager 12-Mar-18 T3 - Long-Term Projections Analyze the Government's submission Other Income and its connection to 

the fiscal plan to determine if there are any issues.

 0.70 $ 578.00 $ 404.60 

Santambrogio,Juan JS Executive Director 12-Mar-18 T3 - Long-Term Projections Participate in call with Deloitte, McKinsey, J. Santambrogio (EY) and 

S.Panagiotakis (EY) to discuss the Other Income analysis prepared by 

OMB and its impact on the fiscal plan.

 0.50 $ 788.00 $ 394.00 

Santambrogio,Juan JS Executive Director 12-Mar-18 T3 - Long-Term Projections Participate in call with A. Chepenik (EY) and S. Panagiotakis (EY) to 

discuss the UPR Fy18 budget allocation in comparison to the March 2017 

Fiscal Plan 

 0.40 $ 788.00 $ 315.20 

Panagiotakis,Sofia SP Manager 12-Mar-18 T3 - Long-Term Projections Participate in call with Deloitte, McKinsey, J. Santambrogio (EY) and 

S.Panagiotakis (EY) to discuss the Other Income analysis prepared by 

OMB and its impact on the fiscal plan.

 0.50 $ 578.00 $ 289.00 

Panagiotakis,Sofia SP Manager 12-Mar-18 T3 - Long-Term Projections Prepare document for call with Deloitte, McKinsey to discuss Other Income 

and its impact on the fiscal plan.

 0.40 $ 578.00 $ 231.20 

Panagiotakis,Sofia SP Manager 12-Mar-18 T3 - Long-Term Projections Participate in call with A. Chepenik (EY) and S. Panagiotakis (EY) to 

discuss the UPR Fy18 budget allocation in comparison to the March 2017 

Fiscal Plan. 

 0.40 $ 578.00 $ 231.20 

Santambrogio,Juan JS Executive Director 13-Mar-18 T3 - Non-working travel (billed at 50% of rates) Travel from San Juan, PR to New York, NY 4.00 $ 394.00 $ 1,576.00 

Chepenik,Adam Brandon AC Partner/Principal 13-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel back from San Juan, PR to Washington, DC from 

meetings with FOMB staff

 3.00 $ 422.50 $ 1,267.50 

Yano,Brian BY Senior Manager 13-Mar-18 T3 - Long-Term Projections Review draft COSSEC fiscal plan v2.0 to determine issues that need to be 

addressed with regards to FY19 budget

 2.80 $ 701.00 $ 1,962.80 

Malhotra,Gaurav GM Partner/Principal 13-Mar-18 T3 - Long-Term Projections Continue to evaluate forecast estimates in fiscal plan 2.30 $ 845.00 $ 1,943.50 

Yano,Brian BY Senior Manager 13-Mar-18 T3 - Long-Term Projections Review draft HTA fiscal plan v2.0 to determine issues that need to be 

addressed with regards to FY19 budget

 2.30 $ 701.00 $ 1,612.30 

Malhotra,Gaurav GM Partner/Principal 13-Mar-18 T3 - Long-Term Projections Evaluate forecast estiamtes provided in fiscal plan 1.90 $ 845.00 $ 1,605.50 

Porepa,Jodi JP Senior Manager 13-Mar-18 T3 - Long-Term Projections Review internal budget process documents and provide comments 2.10 $ 701.00 $ 1,472.10 

Outlaw,Jessica R. JO Manager 13-Mar-18 T3 - Long-Term Projections Analyze Assumptions for Individual Income Tax Revenue as part of the 

General Fund within the Fiscal Plan

 2.10 $ 578.00 $ 1,213.80 

Porepa,Jodi JP Senior Manager 13-Mar-18 T3 - Long-Term Projections Review information provided by Government on paygo 1.70 $ 701.00 $ 1,191.70 

Chepenik,Adam Brandon AC Partner/Principal 13-Mar-18 T3 - Long-Term Projections Work with C Loh (EY) and A Chepenik (EY) to refine long-term tax 

forecasting model with FOMB parameters and Hacienda feedback.

 1.40 $ 845.00 $ 1,183.00 

Mackie,James JM Executive Director 13-Mar-18 T3 - Long-Term Projections Call on PR tax reform proposal 1.30 $ 788.00 $ 1,024.40 

Chepenik,Adam Brandon AC Partner/Principal 13-Mar-18 T3 - Long-Term Projections Participate in meeting with F Pares (Hacienda), E Rios (Hacienda), C Loh 

(EY), A Chepenik (EY), J Davis (Mckinsey), J Mackie (EY), A Phillips 

(EY), H Marquez (Delloitte), A Toro Casellas (BlueHous), and four 

members of DDEC team to follow up on latest tax reform proposal 

estimates and convey FOMB positions

 1.20 $ 845.00 $ 1,014.00 

Burr,Jeremy JB Senior 13-Mar-18 T3 - Long-Term Projections Review FY18 actuals forecast to determine additional spending outside of 

the budget to prepare for FOMB discussion

 2.20 $ 430.00 $ 946.00 

Burr,Jeremy JB Senior 13-Mar-18 T3 - Long-Term Projections Review the Measures in the Fiscal Plan and prepare a summary for 

inclusion in the FY19 Resolutions

 1.90 $ 430.00 $ 817.00 

Outlaw,Jessica R. JO Manager 13-Mar-18 T3 - Long-Term Projections Analyze reported Paygo invoiced amounts and debts by entity. 1.40 $ 578.00 $ 809.20 

Santambrogio,Juan JS Executive Director 13-Mar-18 T3 - Long-Term Projections Participate in Debt Sub-Committee call to discuss creditor negotiations 

update

 0.90 $ 788.00 $ 709.20 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 28 of 55
Exhibit C 29 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Outlaw,Jessica R. JO Manager 13-Mar-18 T3 - Long-Term Projections Analyze Assumptions for Non Resident Withholings Revenue as part of the 

General Fund within the Fiscal Plan

 1.20 $ 578.00 $ 693.60 

Aldana Herbas,Jose 

Alberto

HA Staff 13-Mar-18 T3 - Long-Term Projections Analyze HTA's draft Fiscal Plan 2.60 $ 236.00 $ 613.60 

Loh,Carmen Chng Wen CL Senior 13-Mar-18 T3 - Long-Term Projections Work with C Loh (EY) and A Chepenik (EY) to refine long-term tax 

forecasting model with FOMB parameters and Hacienda feedback.

 1.40 $ 430.00 $ 602.00 

Outlaw,Jessica R. JO Manager 13-Mar-18 T3 - Long-Term Projections Analyze Assumptions for Corporate Income Tax Revenue as part of the 

General Fund within the Fiscal Plan

 0.90 $ 578.00 $ 520.20 

Outlaw,Jessica R. JO Manager 13-Mar-18 T3 - Long-Term Projections Analyze Assumptions for Alcoholic Beverage Revenue as part of the 

General Fund within the Fiscal Plan

 0.90 $ 578.00 $ 520.20 

Loh,Carmen Chng Wen CL Senior 13-Mar-18 T3 - Long-Term Projections Participate in meeting with F Pares (Hacienda), E Rios (Hacienda), C Loh 

(EY), A Chepenik (EY), J Davis (Mckinsey), J Mackie (EY), A Phillips 

(EY), H Marquez (Delloitte), A Toro Casellas (BlueHous), and four 

members of DDEC team to follow up on latest tax reform proposal 

estimates and convey FOMB positions

 1.20 $ 430.00 $ 516.00 

Loh,Carmen Chng Wen CL Senior 13-Mar-18 T3 - Long-Term Projections Revise long-term tax forecasting model based on the Government's latest 

ammendments to proposals

 1.10 $ 430.00 $ 473.00 

Santambrogio,Juan JS Executive Director 13-Mar-18 T3 - Long-Term Projections Review materials used for call on union discussions on pension 0.60 $ 788.00 $ 472.80 

Chepenik,Adam Brandon AC Partner/Principal 13-Mar-18 T3 - Long-Term Projections Draft follow up note on latest tax developments for N Jaresko (FOMB). 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 13-Mar-18 T3 - Long-Term Projections Participate in call with McKinsey, A. Chepenik (EY) and S. Panagiotakis 

(EY) to discuss the UPR FY18 budget allocation in comparison to the 

March 2017 Fiscal Plan. 

 0.50 $ 845.00 $ 422.50 

Santambrogio,Juan JS Executive Director 13-Mar-18 T3 - Long-Term Projections Participate in call with McKinsey to discuss UPR General Fund 

appropriation

 0.50 $ 788.00 $ 394.00 

Loh,Carmen Chng Wen CL Senior 13-Mar-18 T3 - Long-Term Projections Prepare tax reform proposal language for incorporation in the fiscal plan for 

matters regarding performance tracking

 0.90 $ 430.00 $ 387.00 

Burr,Jeremy JB Senior 13-Mar-18 T3 - Long-Term Projections Review PayGo obligations to summarize non-payment by municipalities 

and agencies outside of the general fund

 0.90 $ 430.00 $ 387.00 

Chepenik,Adam Brandon AC Partner/Principal 13-Mar-18 T3 - Long-Term Projections Participate in call with A Chepenik (EY), C Loh, and J Davis (Mckinsey) to 

transition tax work stream for evening principals call.

 0.40 $ 845.00 $ 338.00 

Panagiotakis,Sofia SP Manager 13-Mar-18 T3 - Long-Term Projections Participate in call with McKinsey, A. Chepenik (EY) and S. Panagiotakis 

(EY) to discuss the UPR FY18 budget allocation in comparison to the 

March 2017 Fiscal Plan 

 0.50 $ 578.00 $ 289.00 

Aldana Herbas,Jose 

Alberto

HA Staff 13-Mar-18 T3 - Long-Term Projections Prepare and distrubute list of questions on HTA's draft Fiscal Plan 1.10 $ 236.00 $ 259.60 

Aldana Herbas,Jose 

Alberto

HA Staff 13-Mar-18 T3 - Long-Term Projections Analyze paygo payments and individual contributions debt by entity 0.80 $ 236.00 $ 188.80 

Loh,Carmen Chng Wen CL Senior 13-Mar-18 T3 - Long-Term Projections Participate in call with A Chepenik (EY), C Loh, and J Davis (Mckinsey) to 

transition tax work stream for evening principals call.

 0.40 $ 430.00 $ 172.00 

Chepenik,Adam Brandon AC Partner/Principal 13-Mar-18 T3 - Long-Term Projections Call with N Jaresko (FOMB) and S Negron (FOMB) to review negotiating 

agreement with Hacienda on tax reform estimates and projections.

 0.20 $ 845.00 $ 169.00 

Chepenik,Adam Brandon AC Partner/Principal 13-Mar-18 T3 - Long-Term Projections Participate in follow up discussion with F Pares (Hacienda) to discuss longterm tax forecast model. 0.20 $ 845.00 $ 169.00 

Loh,Carmen Chng Wen CL Senior 14-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel back from San Juan, PR to Washington, DC from 

meetings with FOMB staff

 7.10 $ 215.00 $ 1,526.50 

Burr,Jeremy JB Senior 14-Mar-18 T3 - Long-Term Projections Continue reviewing 13 component unit assumptions in the fiscal plan to 

prepare for the FOMB's review of FY19 revenue budget - PORTS, PBA, 

ADEA

 3.10 $ 430.00 $ 1,333.00 

Outlaw,Jessica R. JO Manager 14-Mar-18 T3 - Long-Term Projections Analyze Assumptions for Special Revenue as part of the General Fund 

within the Fiscal Plan

 2.20 $ 578.00 $ 1,271.60 

Porepa,Jodi JP Senior Manager 14-Mar-18 T3 - Long-Term Projections Prepare for meeting with Oversight Board staff on long-term estimated 

impacts

 1.80 $ 701.00 $ 1,261.80 

Burr,Jeremy JB Senior 14-Mar-18 T3 - Long-Term Projections Continue reviewing 13 component unit assumptions in the fiscal plan to 

prepare for the FOMB's review of FY19 revenue budget - Tourism, ASES, 

PRITA

 2.40 $ 430.00 $ 1,032.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 29 of 55
Exhibit C 30 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 14-Mar-18 T3 - Long-Term Projections Participate in call with J Santambrogio (EY), S Panagiotakis (EY), and A 

Chepenik (EY) to discuss long-term fiscal plan reconciliations with FY17 

and FY18 budgets in advance of advisor discussion with BlueHous, 

Mckinsey and Rothschild Used for Fiscal Plan 2 0

 0.90 $ 845.00 $ 760.50 

Santambrogio,Juan JS Executive Director 14-Mar-18 T3 - Long-Term Projections Participate in call with J Santambrogio (EY), S Panagiotakis (EY), and A 

Chepenik (EY) to discuss long-term fiscal plan reconciliations with FY17 

and FY18 budgets in advance of advisor discussion with BlueHous, 

Mckinsey and Rothschild Used for Fiscal Plan 2 0

 0.90 $ 788.00 $ 709.20 

Outlaw,Jessica R. JO Manager 14-Mar-18 T3 - Long-Term Projections Analyze Assumptions for Cigarettes and Rum Revenue as part of the 

General Fund within the Fiscal Plan

 1.20 $ 578.00 $ 693.60 

Outlaw,Jessica R. JO Manager 14-Mar-18 T3 - CBA/Labor Agreements Review first set of CBA files transmitted from O'neill regarding TP and 

Law 70 materials

 1.20 $ 578.00 $ 693.60 

Outlaw,Jessica R. JO Manager 14-Mar-18 T3 - Long-Term Projections Review Paygo email correspondence between B Fernandez (AAFAF), M 

Tulla (FOMB), and M Yassin (AAFAF) in preparation for email 

correspondence to B Fernandez (AAFAF)

 1.10 $ 578.00 $ 635.80 

Porepa,Jodi JP Senior Manager 14-Mar-18 T3 - Long-Term Projections Review OMB database 0.90 $ 701.00 $ 630.90 

Yano,Brian BY Senior Manager 14-Mar-18 T3 - Long-Term Projections Review updated analysis on OMB vs billings information for PRASA vs 

agencies

 0.90 $ 701.00 $ 630.90 

Outlaw,Jessica R. JO Manager 14-Mar-18 T3 - Long-Term Projections Analyze Assumptions for CRIM Revenue as part of the General Fund 

within the Fiscal Plan

 1.00 $ 578.00 $ 578.00 

Aldana Herbas,Jose 

Alberto

HA Staff 14-Mar-18 T3 - Long-Term Projections Analyze PRASA’s A/R from other Government agencies 2.40 $ 236.00 $ 566.40 

Burr,Jeremy JB Senior 14-Mar-18 T3 - Long-Term Projections Continue review of PayGo obligations sent from Hacienda to compare 

against FY18 Budgeted amounts and determine potential shortfalls

 1.30 $ 430.00 $ 559.00 

Outlaw,Jessica R. JO Manager 14-Mar-18 T3 - Long-Term Projections Analyze Assumptions for Cigarettes and Rum Revenue as part of the 

General Fund within the Fiscal Plan

 0.90 $ 578.00 $ 520.20 

Panagiotakis,Sofia SP Manager 14-Mar-18 T3 - Long-Term Projections Participate in call with J Santambrogio (EY), S Panagiotakis (EY), and A 

Chepenik (EY) to discuss long-term fiscal plan reconciliations with FY17 

and FY18 budgets in advance of advisor discussion with BlueHous, 

Mckinsey and Rothschild Used for Fiscal Plan 2 0

 0.90 $ 578.00 $ 520.20 

Chepenik,Adam Brandon AC Partner/Principal 14-Mar-18 T3 - Long-Term Projections Participate in advisor call on UPR reconciliation between fiscal plan and 

budgets. Participants include J Reed (Mckinsey), D Udom (Mckinsey), O 

Shah (Mckinsey), M Stefanko (Mckinsey), A Chepenik (EY), J 

Santambrogio (EY), S Panagiotakis (EY), A Toro (BlueHaus), B Biggio 

(Conway) J Kang (Rothschild)

 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 14-Mar-18 T3 - Long-Term Projections Update UPR reconciliations between fiscal plans and budget amounts. 0.60 $ 845.00 $ 507.00 

Santambrogio,Juan JS Executive Director 14-Mar-18 T3 - Long-Term Projections Participate in advisor call on UPR reconciliation between fiscal plan and 

budgets. Participants include J Reed (Mckinsey), D Udom (Mckinsey), O 

Shah (Mckinsey), T Whitner (Mckinsey), M Stefanko (Mckinsey), A 

Chepenik (EY), J Santambrogio (EY), S Panagiotakis (EY), A Toro 

(BlueHaus) B Biggio (Conway) J Kang (Rothschild)

 0.60 $ 788.00 $ 472.80 

Chepenik,Adam Brandon AC Partner/Principal 14-Mar-18 T3 - Long-Term Projections Participate in UPR fiscal plan to budget reconciliation conversation with S 

Panagiotakis (EY), A Chepenik (EY), J Reed (Mckinsey), and D Udom 

(Mckinsey)

 0.50 $ 845.00 $ 422.50 

Panagiotakis,Sofia SP Manager 14-Mar-18 T3 - Long-Term Projections Prepare analysis comparing UPR FY18 Budget allocation to the March 

2017 Fiscal Plan.

 0.70 $ 578.00 $ 404.60 

Panagiotakis,Sofia SP Manager 14-Mar-18 T3 - Long-Term Projections Participate in advisor call on UPR reconciliation between fiscal plan and 

budgets. Participants include J Reed (Mckinsey), D Udom (Mckinsey), O 

Shah (Mckinsey), T Whitner (Mckinsey), M Stefanko (Mckinsey), A 

Chepenik (EY), J Santambrogio (EY), S Panagiotakis (EY), A Toro 

(BlueHaus) B Biggio (Conway) J Kang (Rothschild)

 0.60 $ 578.00 $ 346.80 

Chepenik,Adam Brandon AC Partner/Principal 14-Mar-18 T3 - Long-Term Projections Participate in call with F Parez (Hacianda) to discuss latest long-term tax 

projections.

 0.40 $ 845.00 $ 338.00 

Panagiotakis,Sofia SP Manager 14-Mar-18 T3 - Long-Term Projections Participate in UPR fiscal plan to budget reconciliation conversation with S 

Panagiotakis (EY), A Chepenik (EY), J Reed (Mckinsey), and D Udom 

(Mckinsey)

 0.50 $ 578.00 $ 289.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 30 of 55
Exhibit C 31 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 14-Mar-18 T3 - Long-Term Projections Call with A Toro (BlueHaus) and A Chepenik (EY) to discuss UPR bridges 

between fiscal plan and budget amounts.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 14-Mar-18 T3 - Long-Term Projections Draft email to N Jaresko (FOMB) and J Davis (Mckinsey) describing latest 

tax projections proposal.

 0.30 $ 845.00 $ 253.50 

Yano,Brian BY Senior Manager 14-Mar-18 T3 - Long-Term Projections Analyze feedback received on select HTA projection questions 0.20 $ 701.00 $ 140.20 

Outlaw,Jessica R. JO Manager 14-Mar-18 T3 - Long-Term Projections Prepare email correspondence to B Fernandez (AAFAF) regarding 

outstanding questions from Paygo files.

 0.20 $ 578.00 $ 115.60 

Mullins,Daniel R DM Executive Director 15-Mar-18 T3 - Long-Term Projections Review of government's fiscal plan, review of 154 projections, participation 

on conference calls.

 4.60 $ 788.00 $ 3,624.80 

Outlaw,Jessica R. JO Manager 15-Mar-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to Salt Lake City, UT 6.20 $ 289.00 $ 1,791.80 

Santambrogio,Juan JS Executive Director 15-Mar-18 T3 - Non-working travel (billed at 50% of rates) Travel from New York, NY to Atlanta, GA 2.50 $ 394.00 $ 985.00 

Porepa,Jodi JP Senior Manager 15-Mar-18 T3 - Long-Term Projections Review summary of compliance with milestone 2 2.70 $ 701.00 $ 1,892.70 

Outlaw,Jessica R. JO Manager 15-Mar-18 T3 - Long-Term Projections Analyze Assumptions for Enterprise Revenue as part of the General Fund 

within the Fiscal Plan

 2.80 $ 578.00 $ 1,618.40 

Santambrogio,Juan JS Executive Director 15-Mar-18 T3 - Long-Term Projections Review presentation of reconciliation of fiscal plan to budget 1.40 $ 788.00 $ 1,103.20 

Burr,Jeremy JB Senior 15-Mar-18 T3 - Long-Term Projections Analyze the fiscal plan for revenues related to the General Fund and Federal 

Fund in order to prepare follow-up questions for the government regarding 

the FOMB's FY19 revenue review

 2.10 $ 430.00 $ 903.00 

Santambrogio,Juan JS Executive Director 15-Mar-18 T3 - Long-Term Projections Analyze inclusion of Law 70 as part of the FY18 budget 1.10 $ 788.00 $ 866.80 

Outlaw,Jessica R. JO Manager 15-Mar-18 T3 - CBA/Labor Agreements Review additional CBA files transmitted regarding TP and Law 70 

materials

 1.40 $ 578.00 $ 809.20 

Chepenik,Adam Brandon AC Partner/Principal 15-Mar-18 T3 - Long-Term Projections Participate in call on UPR appropriation in budget and fiscal plan to 

reconcile long-term appropriation with J Reed (Mckinsey), D Udom 

(Mckinsey), O Shah (Mckinsey), J Santambrogio (EY), S Panagiotakis 

(EY) A Chepenik (EY) J Kang (Rothschild) A Toro (BlueHaus)

 0.80 $ 845.00 $ 676.00 

Santambrogio,Juan JS Executive Director 15-Mar-18 T3 - Long-Term Projections Participate in call on UPR appropriation in budget and fiscal plan to 

reconcile long-term appropriation with J Reed (Mckinsey), D Udom 

(Mckinsey), O Shah (Mckinsey), J Santambrogio (EY), S Panagiotakis 

(EY) A Chepenik (EY) J Kang (Rothschild) A Toro (BlueHaus)

 0.80 $ 788.00 $ 630.40 

Santambrogio,Juan JS Executive Director 15-Mar-18 T3 - Long-Term Projections Review budgetary reserve assumptions in Fiscal Plan to be incorporated 

into budget process 

 0.70 $ 788.00 $ 551.60 

Panagiotakis,Sofia SP Manager 15-Mar-18 T3 - Long-Term Projections Participate in call on UPR appropriation in budget and fiscal plan to 

reconcile long-term appropriation with J Reed (Mckinsey), D Udom 

(Mckinsey), O Shah (Mckinsey), J Santambrogio (EY), S Panagiotakis 

(EY) A Chepenik (EY) J Kang (Rothschild) A Toro (BlueHaus)

 0.80 $ 578.00 $ 462.40 

Outlaw,Jessica R. JO Manager 15-Mar-18 T3 - Long-Term Projections Review the FOMB Data Request File 0.80 $ 578.00 $ 462.40 

Chepenik,Adam Brandon AC Partner/Principal 15-Mar-18 T3 - Long-Term Projections Call with J Reed (Mckinsey), D Odum (Mckinsey), O Shah (Mckinsey), A 

Chepenik (EY), J Santambrogio (EY) to discuss Law 70 appropriations and 

inclusion or exclusion from fiscal plans and budgets.

 0.40 $ 845.00 $ 338.00 

Santambrogio,Juan JS Executive Director 15-Mar-18 T3 - Long-Term Projections Call with J Reed (Mckinsey), D Odum (Mckinsey), O Shah (Mckinsey), A 

Chepenik (EY), J Santambrogio (EY) to discuss Law 70 appropriations and 

inclusion or exclusion from fiscal plans and budgets

 0.40 $ 788.00 $ 315.20 

Chepenik,Adam Brandon AC Partner/Principal 15-Mar-18 T3 - Long-Term Projections Participate in follow up call with J Davis (Mckinsey) to discuss N Jaresko 

(FOMB) subsequent response to long-term tax revenue modeling.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 15-Mar-18 T3 - Long-Term Projections Collect and send rum tax cover over materials to Mckinsey team. 0.30 $ 845.00 $ 253.50 

Santambrogio,Juan JS Executive Director 15-Mar-18 T3 - Long-Term Projections Review communication to McKinsey team regarding fiscal plan questions 0.30 $ 788.00 $ 236.40 

Aldana Herbas,Jose 

Alberto

HA Staff 15-Mar-18 T3 - Long-Term Projections Analyze Law 70 and voluntary transition program (VTP) 0.90 $ 236.00 $ 212.40 

Chepenik,Adam Brandon AC Partner/Principal 15-Mar-18 T3 - Long-Term Projections Call with J Davis (Mckinsey) to discuss N Jaresko (FOMB) email related to 

call with F Parez (Hacienda) on long-term tax modeling assumptions.

 0.20 $ 845.00 $ 169.00 

Chepenik,Adam Brandon AC Partner/Principal 15-Mar-18 T3 - Long-Term Projections Call with J Kang (Rothschild) to explain rum tax flow of funds modeling 

analysis.

 0.20 $ 845.00 $ 169.00 

Chepenik,Adam Brandon AC Partner/Principal 15-Mar-18 T3 - Long-Term Projections Review long-term rum tax cover over modeling approach and draft email 

response explaining nuances of approach.

 0.20 $ 845.00 $ 169.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 31 of 55
Exhibit C 32 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Aldana Herbas,Jose 

Alberto

HA Staff 15-Mar-18 T3 - Long-Term Projections Review 5-year budgetary reserve 0.40 $ 236.00 $ 94.40 

Chepenik,Adam Brandon AC Partner/Principal 15-Mar-18 T3 - Long-Term Projections Answer follow up questions from J Kang (Rothschild) on flow of funds for 

rum tax cover over.

 0.10 $ 845.00 $ 84.50 

Yano,Brian BY Senior Manager 16-Mar-18 T3 - Long-Term Projections Update work plan for instrumentalities based upon recent correspondence 

and client feedback regarding short and longer term priorities

 2.30 $ 701.00 $ 1,612.30 

Santambrogio,Juan JS Executive Director 16-Mar-18 T3 - Long-Term Projections Participate in call with J Santambrogio, J Outlaw, and J Burr (EY) to 

discuss fiscal plan revenue assumptions and areas of key considerations for 

the FOMB's review of budget to fiscal plan consistency

 1.20 $ 788.00 $ 945.60 

Santambrogio,Juan JS Executive Director 16-Mar-18 T3 - Long-Term Projections Participate in call with Board and Advisors regarding weekly Board update 1.20 $ 788.00 $ 945.60 

Chepenik,Adam Brandon AC Partner/Principal 16-Mar-18 T3 - Long-Term Projections Participate in call with J Davis (Mckinsey), F Pares (Hacienda), H 

Rodrigues (Deloitte) to discuss final updated tax reform proposal.

 0.90 $ 845.00 $ 760.50 

Outlaw,Jessica R. JO Manager 16-Mar-18 T3 - Long-Term Projections Participate in call with J Santambrogio, J Outlaw, and J Burr (EY) to 

discuss fiscal plan revenue assumptions and areas of key considerations for 

the FOMB's review of budget to fiscal plan consistency

 1.20 $ 578.00 $ 693.60 

Chepenik,Adam Brandon AC Partner/Principal 16-Mar-18 T3 - Long-Term Projections Draft updated communication and analysis for FOMB members and N 

Jaresko (FOMB) on updated Hacienda tax proposal.

 0.70 $ 845.00 $ 591.50 

Outlaw,Jessica R. JO Manager 16-Mar-18 T3 - Long-Term Projections Analyze Assumptions for Special Revenue as part of the General Fund 

within the Fiscal Plan

 0.90 $ 578.00 $ 520.20 

Chepenik,Adam Brandon AC Partner/Principal 16-Mar-18 T3 - Long-Term Projections Call with M Tullia (FOMB) to explain reconciliations between fiscal plans 

and budgets on UPR appropriations and Act 70.

 0.30 $ 845.00 $ 253.50 

Santambrogio,Juan JS Executive Director 16-Mar-18 T3 - Long-Term Projections Call with J Santambrogio (EY) and A Chepenik (EY) to discuss budget 

workstream.

 0.30 $ 788.00 $ 236.40 

Chepenik,Adam Brandon AC Partner/Principal 17-Mar-18 T3 - Long-Term Projections Call with N Jaresko (FOMB), A Matosantos (FOMB), J Gonzalez (FOMB), 

J Davis (Mckinsey) to discuss long-term tax proposal as part of fiscal plan 

process

 0.90 $ 845.00 $ 760.50 

Chepenik,Adam Brandon AC Partner/Principal 17-Mar-18 T3 - Long-Term Projections Draft follow up analysis on long-term reform proposal estimates. 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 17-Mar-18 T3 - Long-Term Projections Participate in call with A Toro (BlueHaus) about DDEC incentives code 

changes as part of payfors for long-term reform and estimates.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 17-Mar-18 T3 - Long-Term Projections Continue to draft analysis on long-term reform proposal and share analysis 

with FOMB members.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 17-Mar-18 T3 - Long-Term Projections Call with E Trigo (O'neill) to discuss long-term reform proposal and 

elements associated with drafting legislation to enforce reforms.

 0.30 $ 845.00 $ 253.50 

Outlaw,Jessica R. JO Manager 18-Mar-18 T3 - Non-working travel (billed at 50% of rates) Travel from Salt Lake City, UT to San Juan, PR 11.00 $ 289.00 $ 3,179.00 

Chepenik,Adam Brandon AC Partner/Principal 18-Mar-18 T3 - Long-Term Projections Draft and update revised slides explaining fiscal plan and legislative 

language needed to respond to the FOMB.

 2.10 $ 845.00 $ 1,774.50 

Chepenik,Adam Brandon AC Partner/Principal 18-Mar-18 T3 - Long-Term Projections Discussion call with E Fritz (O'Neill), I Vincenty (O'Neill), A Chepenik 

(EY), J Davis (McKinsey), C Loh (EY) on tax policy language for the 

fiscal plan proposal

 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 18-Mar-18 T3 - Long-Term Projections Participate in call with F Pena (Hacienda) and H Marquez (Delloitte) to 

discuss FOMB current position on long-term tax reform proposal.

 0.60 $ 845.00 $ 507.00 

Loh,Carmen Chng Wen CL Senior 18-Mar-18 T3 - Long-Term Projections Analyze case studies on trigger mechanisms used in other U.S. states 

regarding performance measurement against fiscal plan proposals

 0.80 $ 430.00 $ 344.00 

Loh,Carmen Chng Wen CL Senior 18-Mar-18 T3 - Long-Term Projections Discussion call with E Fritz (O'Neill), I Vincenty (O'Neill), A Chepenik 

(EY), J Davis (McKinsey), C Loh (EY) on tax policy language for the 

fiscal plan proposal

 0.60 $ 430.00 $ 258.00 

Chepenik,Adam Brandon AC Partner/Principal 18-Mar-18 T3 - Long-Term Projections Participate in call with J Davis (Mckinsey) to discuss latest proposal from 

Hacienda on long-term tax reform effort to go into the fiscal plan.

 0.30 $ 845.00 $ 253.50 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 32 of 55
Exhibit C 33 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 19-Mar-18 T3 - Long-Term Projections Participate in FOMB board member call led by N Jaresko (FOMB), with 

Mckinsey, O'Neill, E Barak (Proskauer), A Wolfe (FOMB), A Chepenik 

(EY), G Malhotra (EY), and J Santambrogio (EY) to review current status 

of long-term fiscal plan assumptions and remaining open items before fiscal 

plan certification. Reviewed all key working group assumptions, reforms, 

and estimates

 3.80 $ 845.00 $ 3,211.00 

Santambrogio,Juan JS Executive Director 19-Mar-18 T3 - Long-Term Projections Participate in FOMB board member call led by N Jaresko (FOMB), with 

Mckinsey, O'Neill, E Barak (Proskauer), A Wolfe (FOMB), A Chepenik 

(EY), G Malhotra (EY), and J Santambrogio (EY) to review current status 

of long-term fiscal plan assumptions and remaining open items before fiscal 

plan certification. Reviewed all key working group assumptions, reforms, 

and estimates

 3.80 $ 788.00 $ 2,994.40 

Loh,Carmen Chng Wen CL Senior 19-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel from Washington, DC to San Juan, PR for meetings with 

FOMB staff

 6.70 $ 215.00 $ 1,440.50 

Porepa,Jodi JP Senior Manager 19-Mar-18 T3 - Long-Term Projections Review updated milestone 4 guidelines and feedback provided 2.60 $ 701.00 $ 1,822.60 

Yano,Brian BY Senior Manager 19-Mar-18 T3 - Long-Term Projections Review data on PRASA CIP and draft plan to develop a plan for the long 

term implementation

 2.30 $ 701.00 $ 1,612.30 

Yano,Brian BY Senior Manager 19-Mar-18 T3 - Long-Term Projections Address question from Board staff on PRASA expenses 2.10 $ 701.00 $ 1,472.10 

Yano,Brian BY Senior Manager 19-Mar-18 T3 - Long-Term Projections Address open items regarding COSSEC FY19 budget and contingent risks 2.10 $ 701.00 $ 1,472.10 

Burr,Jeremy JB Senior 19-Mar-18 T3 - Long-Term Projections Prepare summary analysis of March 15th data release to support FOMB 

analysis and prepare for in person meetings

 3.20 $ 430.00 $ 1,376.00 

Chepenik,Adam Brandon AC Partner/Principal 19-Mar-18 T3 - Long-Term Projections Call with N Jaresko (FOMB), M Tullia (FOMB), S O'Rorke (Mckinsey), T 

Duvall (Mckinsey), B Chappuis (McKinsey), A Wolfe (FOMB) to discuss 

FOMB updates for fiscal plan process and remaining open items.

 1.60 $ 845.00 $ 1,352.00 

Hymovitz Cardona,Pablo S CH Executive Director 19-Mar-18 T3 - Long-Term Projections Conference call with PRTD officials regarding amendments to the PR IRC; 

review and comment on tax reform presentation.

 1.60 $ 788.00 $ 1,260.80 

Porepa,Jodi JP Senior Manager 19-Mar-18 T3 - CBA/Labor Agreements Identify labor negotiation scope of analysis 1.50 $ 701.00 $ 1,051.50 

Outlaw,Jessica R. JO Manager 19-Mar-18 T3 - Long-Term Projections Review General Fund revenue assumtions of 3/17/18 Draft Fiscal Plan 1.80 $ 578.00 $ 1,040.40 

Santambrogio,Juan JS Executive Director 19-Mar-18 T3 - Long-Term Projections Review materials for Board call on Fiscal Plans 1.20 $ 788.00 $ 945.60 

Chepenik,Adam Brandon AC Partner/Principal 19-Mar-18 T3 - Long-Term Projections Participate in call with E Trigo (O'neill) to incorporate additional revisions 

to long-term tax reform proposal slides for fiscal plan and legislation based 

on N Jaresko (FOMB) feedback

 1.10 $ 845.00 $ 929.50 

Outlaw,Jessica R. JO Manager 19-Mar-18 T3 - Long-Term Projections Analyze PayGo file prepared by J Collins (McKinsey) 1.40 $ 578.00 $ 809.20 

Chepenik,Adam Brandon AC Partner/Principal 19-Mar-18 T3 - Long-Term Projections Update tax reform legislative slides. 0.90 $ 845.00 $ 760.50 

Outlaw,Jessica R. JO Manager 19-Mar-18 T3 - Long-Term Projections Review Individual Income Tax section of 3/17/18 Draft Fiscal Plan 1.20 $ 578.00 $ 693.60 

Yano,Brian BY Senior Manager 19-Mar-18 T3 - Long-Term Projections Provide feedback on updates to FY19 revenue bridge deck 0.70 $ 701.00 $ 490.70 

Aldana Herbas,Jose 

Alberto

HA Staff 19-Mar-18 T3 - Long-Term Projections Update slides on Office of the CFO, incorporating team's feedback 1.90 $ 236.00 $ 448.40 

Yano,Brian BY Senior Manager 19-Mar-18 T3 - Long-Term Projections Draft correspodence to address Board staff's question on COSSEC 0.60 $ 701.00 $ 420.60 

Yano,Brian BY Senior Manager 19-Mar-18 T3 - Long-Term Projections Review notes on UPR appropriations 0.50 $ 701.00 $ 350.50 

Outlaw,Jessica R. JO Manager 19-Mar-18 T3 - Long-Term Projections Prepare for meeting with J Collins (McKinsey) and J Burr (EY) to review 

FY18 PayGo balances

 0.50 $ 578.00 $ 289.00 

Chepenik,Adam Brandon AC Partner/Principal 19-Mar-18 T3 - Long-Term Projections Participate in call with J Davis (Mckinsey) to discuss updates on fiscal plan 

slides for long-term tax reform and COSSEC implications to the fiscal plan.

 0.30 $ 845.00 $ 253.50 

Outlaw,Jessica R. JO Manager 19-Mar-18 T3 - Long-Term Projections Meet with J Collins (McKinsey) and J Burr (EY) to review FY18 PayGo 

balances

 0.40 $ 578.00 $ 231.20 

Chepenik,Adam Brandon AC Partner/Principal 19-Mar-18 T3 - Long-Term Projections Participate in call with N Jaresko (FOMB) and S Negron (FOMB) to 

discuss feedback on proposed fiscal plan tax slides for inclusion.

 0.20 $ 845.00 $ 169.00 

Chepenik,Adam Brandon AC Partner/Principal 19-Mar-18 T3 - Long-Term Projections Research and send E Trigo (O'Neill) rum tax cover over component 

assessment for long-term projections and estimates.

 0.20 $ 845.00 $ 169.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 33 of 55
Exhibit C 34 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Malhotra,Gaurav GM Partner/Principal 19-Mar-18 T3 - Long-Term Projections Participate in FOMB board member call led by N Jaresko (FOMB), with 

Mckinsey, O'Neill, E Barak (Proskauer), A Wolfe (FOMB), A Chepenik 

(EY), G Malhotra (EY), and J Santambrogio (EY) to review current status 

of long-term fiscal plan assumptions and remaining open items before fiscal 

plan certification. Reviewed all key working group assumptions, reforms, 

and estimates

 3.80 $ 845.00 $ 3,211.00 

Malhotra,Gaurav GM Partner/Principal 20-Mar-18 T3 - Long-Term Projections Review Financial and Economic Analysis. 2.60 $ 845.00 $ 2,197.00 

Malhotra,Gaurav GM Partner/Principal 20-Mar-18 T3 - Long-Term Projections Review Financial and Economic Analysis. 1.70 $ 845.00 $ 1,436.50 

Outlaw,Jessica R. JO Manager 20-Mar-18 T3 - Long-Term Projections Review SUT assumptions within Fiscal Plan 2.40 $ 578.00 $ 1,387.20 

Panagiotakis,Sofia SP Manager 20-Mar-18 T3 - Long-Term Projections Review the 3/17/2018 version of the fiscal plan to understand changes from 

previous versions and identify potential issues.

 2.10 $ 578.00 $ 1,213.80 

Yano,Brian BY Senior Manager 20-Mar-18 T3 - Long-Term Projections Draft questions with regardings to PRASA liquidity 1.70 $ 701.00 $ 1,191.70 

Outlaw,Jessica R. JO Manager 20-Mar-18 T3 - Long-Term Projections Review Rum assumptions within Fiscal Plan 1.90 $ 578.00 $ 1,098.20 

Chepenik,Adam Brandon AC Partner/Principal 20-Mar-18 T3 - Long-Term Projections Participate in meeting with A Mendez (AAFAF), R Wagstaff (Conway), J 

Aponte (OMB), R Guerra (Hacienda), R Wagstaff (Conway), S Rodriguez 

(FOMB), E Arroyo (EY), J Burr (EY), J Santambrogio (EY), J Porepa 

(EY), A Chepenik (EY), to continue discussing Budget Milestone #4 

process and information flow. Discuss in detail items #1 through #5 on the 

list

 1.00 $ 845.00 $ 845.00 

Outlaw,Jessica R. JO Manager 20-Mar-18 T3 - Long-Term Projections Analyze PayGo file prepared by J Collins (McKinsey) 1.10 $ 578.00 $ 635.80 

Chepenik,Adam Brandon AC Partner/Principal 20-Mar-18 T3 - Long-Term Projections Participate in call with J Outlaw (EY), A Chepenik (EY), and J Burr (EY) 

to discuss EY workstreams and fiscal plan model.

 0.60 $ 845.00 $ 507.00 

Panagiotakis,Sofia SP Manager 20-Mar-18 T3 - Long-Term Projections Prepare reconciliation of the January 2018, 2/12 and 3/17 versions of the 

fiscal plan to explain changes and identify issues.

 0.70 $ 578.00 $ 404.60 

Outlaw,Jessica R. JO Manager 20-Mar-18 T3 - Long-Term Projections Participate in call with J Outlaw (EY), A Chepenik (EY), and J Burr (EY) 

to discuss EY work streams and fiscal plan model

 0.60 $ 578.00 $ 346.80 

Outlaw,Jessica R. JO Manager 20-Mar-18 T3 - Long-Term Projections Prepare PayGo table after reviewing updated PayGo ERS data. 0.60 $ 578.00 $ 346.80 

Burr,Jeremy JB Senior 20-Mar-18 T3 - Long-Term Projections Review PayGo obligations in the 3/17/2018 Fiscal plan released to prepare 

analysis on FY18 expected general fund obligations

 0.80 $ 430.00 $ 344.00 

Aldana Herbas,Jose 

Alberto

HA Staff 20-Mar-18 T3 - Long-Term Projections Modify PRASA's 13 week cash flow template per team's feedback 1.30 $ 236.00 $ 306.80 

Aldana Herbas,Jose 

Alberto

HA Staff 20-Mar-18 T3 - Long-Term Projections Review CIP implementation plan for PRASA 1.10 $ 236.00 $ 259.60 

Burr,Jeremy JB Senior 20-Mar-18 T3 - Long-Term Projections Participate in call with J Outlaw (EY), A Chepenik (EY), and J Burr (EY) 

to discuss EY workstreams and fiscal plan model

 0.60 $ 430.00 $ 258.00 

Aldana Herbas,Jose 

Alberto

HA Staff 20-Mar-18 T3 - Long-Term Projections Review PRASA's 13 week cash flow template submitted by McKinsey 

team

 0.80 $ 236.00 $ 188.80 

Santambrogio,Juan JS Executive Director 21-Mar-18 T3 - Long-Term Projections Review Fiscal Plan materials prepared by the Government 2.90 $ 788.00 $ 2,285.20 

Outlaw,Jessica R. JO Manager 21-Mar-18 T3 -Creditor Mediation Support Review of OMB Dataroom Agency Listing Inventory 3.20 $ 578.00 $ 1,849.60 

Chepenik,Adam Brandon AC Partner/Principal 21-Mar-18 T3 - Long-Term Projections Participate in conversation with Professor S Conrad (UNC), N Jaresko 

(FOMB), J Davis (Mckinsey), A Chepenik (EY), J Mackie (EY), R 

Rodriguez (EY), P Hymovitz (EY) to discuss long-term tax reform 

proposal in fiscal plan

 1.60 $ 845.00 $ 1,352.00 

Burr,Jeremy JB Senior 21-Mar-18 T3 - Long-Term Projections Forecast the FY18 actuals relative to the budget using new information 

from the 3/20 fiscal plan release to support FOMB review analysis and 

preparations for shortfalls

 3.10 $ 430.00 $ 1,333.00 

Mackie,James JM Executive Director 21-Mar-18 T3 - Long-Term Projections Participate in conversation with Professor S Conrad (UNC), N Jaresko 

(FOMB), J Davis (Mckinsey), A Chepenik (EY), J Mackie (EY), R 

Rodriguez (EY), P Hymovitz (EY) to discuss long-term tax reform 

proposal in fiscal plan

 1.60 $ 788.00 $ 1,260.80 

Porepa,Jodi JP Senior Manager 21-Mar-18 T3 - Long-Term Projections Update FY19 budget process for General Fund and other fund types 1.70 $ 701.00 $ 1,191.70 

Porepa,Jodi JP Senior Manager 21-Mar-18 T3 - Long-Term Projections Prepare for touchpoint with Oversight Board staff on tying fiscal plan to 

budget

 1.70 $ 701.00 $ 1,191.70 

Outlaw,Jessica R. JO Manager 21-Mar-18 T3 - Long-Term Projections Analyze Excise Tax for Rum Calculation from the General Fund 2.00 $ 578.00 $ 1,156.00 

Loh,Carmen Chng Wen CL Senior 21-Mar-18 T3 - Long-Term Projections Prepare summary of compliance for agencies to guidelines in Milestone 2 

in relation to the FY19 revenue budget review

 2.30 $ 430.00 $ 989.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 34 of 55
Exhibit C 35 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 21-Mar-18 T3 - Long-Term Projections Participate in meeting with A Chepenik, B Yano, J Burr, J Porepa, J 

Santambrogio, C Loh, J Aldana, and J Outlaw (EY) to discuss the current 

status of the Fiscal Plan and budgeted revenue forecast, $4.8bn ASES 

funding, and key deliverables for the Commonwealth (CW) and 

instrumentalities corresponding to the milestone #2

 1.10 $ 845.00 $ 929.50 

Panagiotakis,Sofia SP Manager 21-Mar-18 T3 - Long-Term Projections Review the 3/20/2018 version of the fiscal plan to understand changes from 

previous versions and identify potential issues.

 1.60 $ 578.00 $ 924.80 

Hymovitz Cardona,Pablo S CH Executive Director 21-Mar-18 T3 - Long-Term Projections Review final deck of proposed changes to tax law and provide comments 

and impression.

 1.10 $ 788.00 $ 866.80 

Koch,Cathleen M CK Partner/Principal 21-Mar-18 T3 -Creditor Mediation Support Review budget act for PR provisions, compose emails. 1.00 $ 845.00 $ 845.00 

Yano,Brian BY Senior Manager 21-Mar-18 T3 - Long-Term Projections Prepare for discussion with PRASA finance team 1.20 $ 701.00 $ 841.20 

Outlaw,Jessica R. JO Manager 21-Mar-18 T3 - CBA/Labor Agreements Continue to analyze the VTP and Law 70 files 1.10 $ 578.00 $ 635.80 

Hymovitz Cardona,Pablo S CH Executive Director 21-Mar-18 T3 - Long-Term Projections Prepare for meeting with FOMB regarding long term tax reform 0.80 $ 788.00 $ 630.40 

Chepenik,Adam Brandon AC Partner/Principal 21-Mar-18 T3 - Long-Term Projections Research rum tax credit backup information for long-term forecast at the 

request of Reed (Mckinsey).

 0.70 $ 845.00 $ 591.50 

Burr,Jeremy JB Senior 21-Mar-18 T3 - Long-Term Projections Continue component unit review with new fiscal plan (3/20/2018) and 

revenue budget impact in preparation for the FY19 revenue certification 

 1.20 $ 430.00 $ 516.00 

Hymovitz Cardona,Pablo S CH Executive Director 21-Mar-18 T3 - Long-Term Projections Meeting with R Rodriguez (EY) to discuss potential opportunities for tax 

amendments.

 0.60 $ 788.00 $ 472.80 

Chepenik,Adam Brandon AC Partner/Principal 21-Mar-18 T3 - Long-Term Projections Review updated tax proposal information included in fiscal plan proposal. 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 21-Mar-18 T3 - Long-Term Projections Review updated rum tax forecast for fiscal plan model. 0.40 $ 845.00 $ 338.00 

Aldana Herbas,Jose 

Alberto

HA Staff 21-Mar-18 T3 - Long-Term Projections Edit and share PRASA's reporting package with McKinsey team 1.20 $ 236.00 $ 283.20 

Aldana Herbas,Jose 

Alberto

HA Staff 21-Mar-18 T3 - Long-Term Projections Participate in meeting with A Chepenik, B Yano, J Burr, J Porepa, J 

Santambrogio, C Loh, J Aldana, and J Outlaw (EY) to discuss the current 

status of the Fiscal Plan and budgeted revenue forecast, $4.8bn ASES 

funding, and key deliverables for the Commonwealth (CW) and 

instrumentalities corresponding to the milestone #2

 1.10 $ 236.00 $ 259.60 

Chepenik,Adam Brandon AC Partner/Principal 21-Mar-18 T3 - Long-Term Projections Review omnibus legislation for Puerto RIco provisions to see if it impacts 

long-term fiscal plan projections.

 0.30 $ 845.00 $ 253.50 

Aldana Herbas,Jose 

Alberto

HA Staff 21-Mar-18 T3 - Long-Term Projections Consolidate notes on ASES B2A meeting 0.70 $ 236.00 $ 165.20 

Hymovitz Cardona,Pablo S CH Executive Director 21-Mar-18 T3 - Long-Term Projections Participate in conversation with Professor S Conrad (UNC), N Jaresko 

(FOMB), J Davis (Mckinsey), A Chepenik (EY), J Mackie (EY), R 

Rodriguez (EY), P Hymovitz (EY) to discuss long-term tax reform 

proposal in fiscal plan

 1.60 $ 788.00 $ 1,260.80 

Rodriguez-Ramos,Rosa M. RR Executive Director 21-Mar-18 T3 - Long-Term Projections Participate in conversation with Professor S Conrad (UNC), N Jaresko 

(FOMB), J Davis (Mckinsey), A Chepenik (EY), J Mackie (EY), R 

Rodriguez (EY), P Hymovitz (EY) to discuss long-term tax reform 

proposal in fiscal plan

 1.60 $ 788.00 $ 1,260.80 

Rodriguez-Ramos,Rosa M. RR Executive Director 21-Mar-18 T3 - Long-Term Projections Meeting with P Hymovitz (EY) to discuss potential opportunities for tax 

amendments.

 0.60 $ 788.00 $ 472.80 

Chepenik,Adam Brandon AC Partner/Principal 22-Mar-18 T3 - Long-Term Projections Participate in fiscal plan call with N Jaresko (FOMB), S O'Roarke 

(Mckinsey), T Duvall (Mckinsey), B Chapeaus (Mckinsey), S Negron 

(FOMB), M Vizarono (FOMB), C Loh (EY), A Wolfe (FOMB), A 

Chepenik (EY). Discuss additional revisions needed to update fiscal plan 

materials

 1.90 $ 845.00 $ 1,605.50 

Porepa,Jodi JP Senior Manager 22-Mar-18 T3 - Long-Term Projections Review consolidated list of reporting requirements and provide comments 

to update

 2.10 $ 701.00 $ 1,472.10 

Outlaw,Jessica R. JO Manager 22-Mar-18 T3 - Long-Term Projections Analyze Revised Excise Tax for Rum Waterfall Calculation from the 

General Fund

 1.90 $ 578.00 $ 1,098.20 

Chepenik,Adam Brandon AC Partner/Principal 22-Mar-18 T3 - Long-Term Projections Review and revise tax estimate lides for fiscal plan. 1.20 $ 845.00 $ 1,014.00 

Burr,Jeremy JB Senior 22-Mar-18 T3 - Long-Term Projections Forecast the FY18 actuals relative to the budget using new information 

from the 3/22 fiscal plan release to support FOMB review analysis and 

preparations for shortfalls

 2.20 $ 430.00 $ 946.00 

Yano,Brian BY Senior Manager 22-Mar-18 T3 - Long-Term Projections Analyze latest GDB fiscal plan and budget information 1.20 $ 701.00 $ 841.20 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 35 of 55
Exhibit C 36 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Loh,Carmen Chng Wen CL Senior 22-Mar-18 T3 - Long-Term Projections Participate in fiscal plan call with N Jaresko (FOMB), S O'Roarke 

(Mckinsey), T Duvall (Mckinsey), B Chapeaus (Mckinsey), S Negron 

(FOMB), M Vizarono (FOMB), C Loh (EY), A Wolfe (FOMB), A 

Chepenik (EY). Discuss additional revisions needed to update fiscal plan 

materials

 1.90 $ 430.00 $ 817.00 

Outlaw,Jessica R. JO Manager 22-Mar-18 T3 - Long-Term Projections Analyze Excise Tax for Rum Calculation from the General Fund 1.40 $ 578.00 $ 809.20 

Burr,Jeremy JB Senior 22-Mar-18 T3 - Long-Term Projections Forecast the FY18 actuals relative to the budget using new information 

from the 3/22 fiscal plan release to support FOMB review analysis and 

preparations

 1.80 $ 430.00 $ 774.00 

Outlaw,Jessica R. JO Manager 22-Mar-18 T3 - CBA/Labor Agreements Analyze CBA provisions in revised fiscal plan 1.10 $ 578.00 $ 635.80 

Hymovitz Cardona,Pablo S CH Executive Director 22-Mar-18 T3 - Long-Term Projections Search for and provide tax reference material dealing with high earning 

taxpayers to FOMB staff.

 0.80 $ 788.00 $ 630.40 

Chepenik,Adam Brandon AC Partner/Principal 22-Mar-18 T3 - Long-Term Projections Participate in call with A Chepenik (EY), C Loh (EY), and A Gerard 

(Mckinsey) to discuss the way long-term tax reform is modeled in the fiscal 

plan

 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 22-Mar-18 T3 - Long-Term Projections Participate in call with partner to discuss long-term fiscal plan estimates and 

DSA calculations.

 0.60 $ 845.00 $ 507.00 

Chepenik,Adam Brandon AC Partner/Principal 22-Mar-18 T3 - Long-Term Projections Participate in call with F Pares (Hacienda) and H Rodriguez (Delloitte) to 

discuss latest fiscal plan model as it relates to long-term tax reform.

 0.40 $ 845.00 $ 338.00 

Loh,Carmen Chng Wen CL Senior 22-Mar-18 T3 - Long-Term Projections Participate in call with A Chepenik (EY), C Loh (EY), and A Gerard 

(Mckinsey) to discuss the way long-term tax reform is modeled in the fiscal 

plan.

 0.60 $ 430.00 $ 258.00 

Chepenik,Adam Brandon AC Partner/Principal 22-Mar-18 T3 - Long-Term Projections Call with G Malhotra (EY) and A Chepenik (EY) to discuss CBA 

forecasting process and approach.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 22-Mar-18 T3 - Long-Term Projections Call with J Davis (Mckinsey) to discuss COSSEC implications on fiscal 

plan.

 0.20 $ 845.00 $ 169.00 

Malhotra,Gaurav GM Partner/Principal 22-Mar-18 T3 - Long-Term Projections Call with G Malhotra (EY) and A Chepenik (EY) to discuss CBA 

forecasting process and approach.

 0.30 $ 845.00 $ 253.50 

Loh,Carmen Chng Wen CL Senior 23-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel back from San Juan, PR to Washington, DC from 

meetings with FOMB staff

 7.20 $ 215.00 $ 1,548.00 

Chepenik,Adam Brandon AC Partner/Principal 23-Mar-18 T3 - Long-Term Projections Participate in call with labor unions, AAFAF, S Negron (FOMB), and 

Proskauer, to discuss 204 motion submitted by the unions and implications 

on long-term projections.

 1.60 $ 845.00 $ 1,352.00 

Outlaw,Jessica R. JO Manager 23-Mar-18 T3 - CBA/Labor Agreements assess fiscal plan impact on CBA agreements 2.10 $ 578.00 $ 1,213.80 

Chepenik,Adam Brandon AC Partner/Principal 23-Mar-18 T3 - Long-Term Projections Participate in weekly board and advisors call on fiscal plan certification 

concerns and process. Meeting led by N Jaresko (FOMB), FOMB board 

members, Citi, A Wolfe (FOMB), Mckinsey, J Santambrogio (EY), G 

Malhotra (EY) and A Chepenik (EY )

 1.30 $ 845.00 $ 1,098.50 

Santambrogio,Juan JS Executive Director 23-Mar-18 T3 - Long-Term Projections Participate in weekly board and advisors call on fiscal plan certification 

concerns and process. Meeting led by N Jaresko (FOMB), FOMB board 

members, Citi, A Wolfe (FOMB), Mckinsey, J Santambrogio (EY), G 

Malhotra (EY) and A Chepenik (EY )

 1.30 $ 788.00 $ 1,024.40 

Chepenik,Adam Brandon AC Partner/Principal 23-Mar-18 T3 - Long-Term Projections Participate in call with J Santambrogio (EY), A Chepenik (EY), J Outlaw 

(EY), C George (O'Neill), J Capó-Matos (O'Neill) to discuss CBA 

implications and process on long-term estimates in fiscal plan.

 0.60 $ 845.00 $ 507.00 

Loh,Carmen Chng Wen CL Senior 23-Mar-18 T3 - Long-Term Projections Prepare summary slide of proposed tax policy change costs and forecasted 

payfors for inclusion in the fiscal plan 

 0.90 $ 430.00 $ 387.00 

Outlaw,Jessica R. JO Manager 23-Mar-18 T3 - CBA/Labor Agreements Participate in call with J Santambrogio (EY), A Chepenik (EY), J Outlaw 

(EY), C George (O'Neill), J Capó-Matos (O'Neill) to discuss CBA 

implications and process on long-term estimates in fiscal plan

 0.60 $ 578.00 $ 346.80 

Outlaw,Jessica R. JO Manager 23-Mar-18 T3 - CBA/Labor Agreements Discuss labor with C. George (O'neil and Borges) and J. Capo (O'neill and 

Borges)

 0.40 $ 578.00 $ 231.20 

Chepenik,Adam Brandon AC Partner/Principal 23-Mar-18 T3 - Long-Term Projections Call with J Santambrogio (EY) and A Chepenik (EY) to discus Puerto Rico 

fiscal plan workstreams.

 0.20 $ 845.00 $ 169.00 

Santambrogio,Juan JS Executive Director 23-Mar-18 T3 - Long-Term Projections Call with J Santambrogio (EY) and A Chepenik (EY) to discus Puerto Rico 

fiscal plan workstreams.

 0.20 $ 788.00 $ 157.60 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 36 of 55
Exhibit C 37 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Malhotra,Gaurav GM Partner/Principal 23-Mar-18 T3 - Long-Term Projections Participate in weekly board and advisors call on fiscal plan certification 

concerns and process. Meeting led by N Jaresko (FOMB), FOMB board 

members, Citi, A Wolfe (FOMB), Mckinsey, J Santambrogio (EY), G 

Malhotra (EY) and A Chepenik (EY )

 1.60 $ 845.00 $ 1,352.00 

Santambrogio,Juan JS Executive Director 23-Mar-18 T3 - Long-Term Projections Participate in call with J Santambrogio (EY), A Chepenik (EY), J Outlaw 

(EY), C George (O'Neill), J Capó-Matos (O'Neill) to discuss CBA 

implications and process on long-term estimates in fiscal plan

 0.60 $ 788.00 $ 472.80 

Burr,Jeremy JB Senior 24-Mar-18 T3 - Long-Term Projections Review the 3/22/2018 fiscal plan for details on the special revenue funds 

and ingresos propios to begin preparations of the FY19 revenue 

certification

 2.10 $ 430.00 $ 903.00 

Outlaw,Jessica R. JO Manager 24-Mar-18 T3 - Long-Term Projections Review General Fund revenue assumptions of 3/22/18 Draft Fiscal Plan 0.90 $ 578.00 $ 520.20 

Loh,Carmen Chng Wen CL Senior 24-Mar-18 T3 - Long-Term Projections Review latest fiscal plan model for updates to key revenue and expense 

contributors for FY19

 0.90 $ 430.00 $ 387.00 

Aldana Herbas,Jose 

Alberto

HA Staff 24-Mar-18 T3 - Long-Term Projections Update key GF revenue assumptions slide incorporating sources and 

feedback provided by team members

 1.20 $ 236.00 $ 283.20 

Chepenik,Adam Brandon AC Partner/Principal 25-Mar-18 T3 - Long-Term Projections Participate in FOMB board member call with advisors to review fiscal plan 

assumptions and gaps between Governor and FOMB versions of the fiscal 

plan. Led by N Jaresko (FOMB) with participation from Mckinsey, Andy 

Wolfe (FOMB) Citi Proskauer O'Neill (partial)

 3.80 $ 845.00 $ 3,211.00 

Chepenik,Adam Brandon AC Partner/Principal 25-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel from Washington, DC to San Juan, PR for meetings with 

FOMB staff

 3.00 $ 422.50 $ 1,267.50 

Burr,Jeremy JB Senior 25-Mar-18 T3 - Long-Term Projections Prepare summary slides of special revenue funds and ingresos propios for 

the FY19 revenue certification by the FOMB

 2.60 $ 430.00 $ 1,118.00 

Outlaw,Jessica R. JO Manager 25-Mar-18 T3 - Long-Term Projections Review General Fund revenue assumtions of 3/22/18 Draft Fiscal Plan 1.70 $ 578.00 $ 982.60 

Santambrogio,Juan JS Executive Director 25-Mar-18 T3 - Long-Term Projections Review debt capacity analysis prepared by McKinsey 1.10 $ 788.00 $ 866.80 

Aldana Herbas,Jose 

Alberto

HA Staff 25-Mar-18 T3 - Long-Term Projections Review OMB’s data repository 0.80 $ 236.00 $ 188.80 

Loh,Carmen Chng Wen CL Senior 26-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel from Washington, DC to San Juan, PR for meetings with 

FOMB staff

 6.20 $ 215.00 $ 1,333.00 

Santambrogio,Juan JS Executive Director 26-Mar-18 T3 - Long-Term Projections Review fiscal plan financial projections and support model prepared by the 

Government 

 1.90 $ 788.00 $ 1,497.20 

Outlaw,Jessica R. JO Manager 26-Mar-18 T3 - Long-Term Projections Prepare Milestone 2 Revenue Slides for the General Fund 2.30 $ 578.00 $ 1,329.40 

Chepenik,Adam Brandon AC Partner/Principal 26-Mar-18 T3 - Long-Term Projections Participate in weekly budget meeting with M Tullia (EY), S Rodriguez 

(EY), E Arroyo (EY), A Chepenik (EY), J Santambrogio (EY), J Porepa 

(EY), and B Yano (EY), to review updates to budgeting timeline and 

schedule

 1.40 $ 845.00 $ 1,183.00 

Malhotra,Gaurav GM Partner/Principal 26-Mar-18 T3 - Long-Term Projections Review Financial and Economic Analysis. 1.20 $ 845.00 $ 1,014.00 

Porepa,Jodi JP Senior Manager 26-Mar-18 T3 - Long-Term Projections Participate in weekly budget meeting with M Tullia (EY), S Rodriguez 

(EY), E Arroyo (EY), A Chepenik (EY), J Santambrogio (EY), J Porepa 

(EY), and B Yano (EY), to review updates to budgeting timeline and 

schedule

 1.40 $ 701.00 $ 981.40 

Burr,Jeremy JB Senior 26-Mar-18 T3 - Long-Term Projections Review 13 independently forecasted component unit notes to prepare for 

call with Conway to discuss component unit assumptions in the FP

 2.20 $ 430.00 $ 946.00 

Chepenik,Adam Brandon AC Partner/Principal 26-Mar-18 T3 - Long-Term Projections Participate in call with G Malhotra (EY) and A Chepenik (EY) to discuss 

core fiscal plan assumptions and methodology as well as ways to market the 

plan once it becomes public

 1.10 $ 845.00 $ 929.50 

Panagiotakis,Sofia SP Manager 26-Mar-18 T3 - Long-Term Projections Review the component units in the 3/22 version of the fiscal plan to prepare 

questions for call with Conway.

 1.60 $ 578.00 $ 924.80 

Loh,Carmen Chng Wen CL Senior 26-Mar-18 T3 - Long-Term Projections Revise list of tax credits and cash grants covered under fiscal plan 

projections based on discussion with DDEC and the Hacienda 

 1.70 $ 430.00 $ 731.00 

Santambrogio,Juan JS Executive Director 26-Mar-18 T3 - Long-Term Projections Review language in OCFO slides for the fiscal plan 0.90 $ 788.00 $ 709.20 

Panagiotakis,Sofia SP Manager 26-Mar-18 T3 - Long-Term Projections Meeting with R Di Napoli, N Rouzler (Conway), J Burr, S Panagiotakis 

(EY) to discuss independently forecasted component unit assumptions has 

presented in the 3/22/2017 fiscal plan

 1.20 $ 578.00 $ 693.60 

Chepenik,Adam Brandon AC Partner/Principal 26-Mar-18 T3 - Long-Term Projections Edit, redline and update tax credit and cash grant slide for fiscal plan. 0.70 $ 845.00 $ 591.50 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 37 of 55
Exhibit C 38 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Burr,Jeremy JB Senior 26-Mar-18 T3 - Long-Term Projections Meeting with R Di Napoli, N Rouzler (Conway), J Burr, S Panagiotakis 

(EY) to discuss independently forecasted component unit assumptions has 

presented in the 3/22/2017 fiscal plan

 1.20 $ 430.00 $ 516.00 

Loh,Carmen Chng Wen CL Senior 26-Mar-18 T3 - Long-Term Projections Prepare updated list of tax credits and cash grants covered under fiscal plan 

projections 

 1.20 $ 430.00 $ 516.00 

Chepenik,Adam Brandon AC Partner/Principal 26-Mar-18 T3 - Long-Term Projections Review and discuss slides for fiscal plan editing with C Loh (EY) and A 

Chepenik (EY).

 0.60 $ 845.00 $ 507.00 

Outlaw,Jessica R. JO Manager 26-Mar-18 T3 - Long-Term Projections Continue to analyze CBA provisions in revised fiscal plan 0.70 $ 578.00 $ 404.60 

Chepenik,Adam Brandon AC Partner/Principal 26-Mar-18 T3 - Long-Term Projections Edit and redline OCFO slides for fiscal plan. 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 26-Mar-18 T3 - Long-Term Projections Participate in call with H Marquez (Delloitte), C Loh (EY), and A Chepenik 

(EY) to discuss cash grant and tax credit incentives in long-term Hacienda 

forecast.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 26-Mar-18 T3 - Long-Term Projections Edit and redline GILTI tax slide for fiscal plan. 0.30 $ 845.00 $ 253.50 

Loh,Carmen Chng Wen CL Senior 26-Mar-18 T3 - Long-Term Projections Participate in call with H Marquez (Delloitte), C Loh (EY), and A Chepenik 

(EY) to discuss cash grant and tax credit incentives in long-term Hacienda 

forecast.

 0.30 $ 430.00 $ 129.00 

Loh,Carmen Chng Wen CL Senior 26-Mar-18 T3 - Long-Term Projections Review and discuss slides for fiscal plan editing with C Loh (EY) and A 

Chepenik (EY).

 0.60 $ 430.00 $ 258.00 

Malhotra,Gaurav GM Partner/Principal 26-Mar-18 T3 - Long-Term Projections Participate in call with G Malhotra (EY) and A Chepenik (EY) to discuss 

core fiscal plan assumptions and methodology as well as ways to market the 

plan once it becomes public

 0.10 $ 845.00 $ 84.50 

Santambrogio,Juan JS Executive Director 26-Mar-18 T3 - Long-Term Projections Participate in weekly budget meeting with M Tullia (EY), S Rodriguez 

(EY), E Arroyo (EY), A Chepenik (EY), J Santambrogio (EY), J Porepa 

(EY), and B Yano (EY), to review updates to budgeting timeline and 

schedule

 1.40 $ 788.00 $ 1,103.20 

Outlaw,Jessica R. JO Manager 27-Mar-18 T3 - CBA/Labor Agreements Continue to analyze CBA provisions in revised fiscal plan 2.10 $ 578.00 $ 1,213.80 

Loh,Carmen Chng Wen CL Senior 27-Mar-18 T3 - Long-Term Projections Prepare summary of Paygo language for inclusion in the FY19 budget 

enforcement mechanisms considerations for FOMB and local counsel 

review

 1.20 $ 430.00 $ 516.00 

Loh,Carmen Chng Wen CL Senior 27-Mar-18 T3 - Long-Term Projections Review prior year budget resolution language in relation to enforcement of 

PayGo payments

 1.10 $ 430.00 $ 473.00 

Panagiotakis,Sofia SP Manager 27-Mar-18 T3 - Long-Term Projections Review the draft revenues provided by McKinsey for the FOMB model to 

see how it compares to the Government's fiscal plan.

 0.60 $ 578.00 $ 346.80 

Santambrogio,Juan JS Executive Director 28-Mar-18 T3 - Long-Term Projections Travel from San Juan, PR to Atlanta, GA 3.50 $ 788.00 $ 2,758.00 

Chepenik,Adam Brandon AC Partner/Principal 28-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel back from San Juan, PR to Washington, DC from 

meetings with FOMB staff

 3.00 $ 422.50 $ 1,267.50 

Santambrogio,Juan JS Executive Director 28-Mar-18 T3 - Long-Term Projections Analyze fiscal plan and support financial projections model prepared by the 

Board

 2.70 $ 788.00 $ 2,127.60 

Porepa,Jodi JP Senior Manager 28-Mar-18 T3 - Long-Term Projections Debrief with Oversight Board staff on OMB responses to outstanding 

questions

 2.60 $ 701.00 $ 1,822.60 

Malhotra,Gaurav GM Partner/Principal 28-Mar-18 T3 - Long-Term Projections Review Financial and Economic Analysis. 2.10 $ 845.00 $ 1,774.50 

Porepa,Jodi JP Senior Manager 28-Mar-18 T3 - Long-Term Projections Prepare for discussions with OMB and outstanding information required 2.40 $ 701.00 $ 1,682.40 

Santambrogio,Juan JS Executive Director 28-Mar-18 T3 - Long-Term Projections Review FOMB Fiscal Plan letters to the Government with required changes 1.70 $ 788.00 $ 1,339.60 

Burr,Jeremy JB Senior 28-Mar-18 T3 - Long-Term Projections Review Milestone #2 Submission for the Commonwealth and prepare 

follow-up questions for AAFAF/Conway

 3.10 $ 430.00 $ 1,333.00 

Outlaw,Jessica R. JO Manager 28-Mar-18 T3 - Long-Term Projections Prepare Monthly FY18-FY19 General Fund Revenue Analysis 2.20 $ 578.00 $ 1,271.60 

Panagiotakis,Sofia SP Manager 28-Mar-18 T3 - Long-Term Projections Review the March 22 Government fiscal plan to see how revenue's and 

expenditures have changed compared to prior versions and what potential 

issues may still exist

 2.10 $ 578.00 $ 1,213.80 

Porepa,Jodi JP Senior Manager 28-Mar-18 T3 - Long-Term Projections Review reporting requirements and compare to current requirements as well 

as FY19 fiscal plan

 1.40 $ 701.00 $ 981.40 

Burr,Jeremy JB Senior 28-Mar-18 T3 - Long-Term Projections Review 3/22 fiscal plan for budgetary reserves (or lack thereof) to discuss 

$130mm/annual emergency reserve with FOMB

 2.20 $ 430.00 $ 946.00 

Loh,Carmen Chng Wen CL Senior 28-Mar-18 T3 - Long-Term Projections Review latest fiscal plan from the government in relation to areas of tax 

measures and tax reform forecasts

 1.60 $ 430.00 $ 688.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 38 of 55
Exhibit C 39 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Panagiotakis,Sofia SP Manager 28-Mar-18 T3 - Long-Term Projections Review the FOMB's version of the fiscal plan presentation to understand 

changes from prior versions and compare it to the government's version

 1.10 $ 578.00 $ 635.80 

Yano,Brian BY Senior Manager 28-Mar-18 T3 - Long-Term Projections Review follow ups from comments from FOMB staff 0.60 $ 701.00 $ 420.60 

Aldana Herbas,Jose 

Alberto

HA Staff 28-Mar-18 T3 - Long-Term Projections Review PRASA's revised Fiscal Plan 1.70 $ 236.00 $ 401.20 

Loh,Carmen Chng Wen CL Senior 28-Mar-18 T3 - Long-Term Projections Prepare fiscal plan redline for feedback to the government in relation to 

areas of tax measures and tax reform forecasts

 0.90 $ 430.00 $ 387.00 

Panagiotakis,Sofia SP Manager 28-Mar-18 T3 - Long-Term Projections Review the new laws the FOMB requested additional research on to 

determine if there are risks for the fiscal plan or the budget.

 0.30 $ 578.00 $ 173.40 

Outlaw,Jessica R. JO Manager 28-Mar-18 T3 - Long-Term Projections Call with Andy Wolfe (PROMESA) to discuss macro-economic 

assumptions in the Fiscal Plan

 0.10 $ 578.00 $ 57.80 

Loh,Carmen Chng Wen CL Senior 29-Mar-18 T3 - Non-working travel (billed at 50% of rates) T3 Related Travel back from San Juan, PR to Washington, DC from 

meetings with FOMB staff

 5.90 $ 215.00 $ 1,268.50 

Outlaw,Jessica R. JO Manager 29-Mar-18 T3 - Long-Term Projections Review Special Revenue Funds Guideline Submission files 2.50 $ 578.00 $ 1,445.00 

Porepa,Jodi JP Senior Manager 29-Mar-18 T3 - Long-Term Projections Review summary on agency information uploaded to Government 

repository

 1.90 $ 701.00 $ 1,331.90 

Yano,Brian BY Senior Manager 29-Mar-18 T3 -Creditor Mediation Support Draft updates to EY priviledge log 1.70 $ 701.00 $ 1,191.70 

Santambrogio,Juan JS Executive Director 29-Mar-18 T3 - Long-Term Projections Participate in call with R Wagstaff, R Di Napoli, B Boigio (Conway), J 

Santambrogio, J Outlaw, S Panagiotakis, and J Burr (EY) to discuss FY19 

revenue submission for milestone #2 and tie-out to fiscal plan

 1.20 $ 788.00 $ 945.60 

Santambrogio,Juan JS Executive Director 29-Mar-18 T3 - Long-Term Projections Review analysis comparing revenue estimates from FOMB and 

Government

 1.20 $ 788.00 $ 945.60 

Chepenik,Adam Brandon AC Partner/Principal 29-Mar-18 T3 - Long-Term Projections Participate in call with J Porepa (EY), J Santambrogio (EY), A Chepenik 

(EY), M Tullia (FOMB), K Rifkind (FOMB), E Trigo (O'Neill), J Burr 

(EY), to discuss enforcement language from fiscal plan integration into 

budget certification

 1.10 $ 845.00 $ 929.50 

Outlaw,Jessica R. JO Manager 29-Mar-18 T3 - CBA/Labor Agreements Review labor negotiations strategy 1.20 $ 578.00 $ 693.60 

Chepenik,Adam Brandon AC Partner/Principal 29-Mar-18 T3 – Plan of Adjustment Prepare list of EY privileged and pre-decisional documents at Proskauer's 

request.

 0.60 $ 845.00 $ 507.00 

Aldana Herbas,Jose 

Alberto

HA Staff 29-Mar-18 T3 - Long-Term Projections Analyze Commonwealth Fiscal Plan used for Milestone 2 submission 1.80 $ 236.00 $ 424.80 

Panagiotakis,Sofia SP Manager 29-Mar-18 T3 - Long-Term Projections Participate in call with J. Santambrogio (EY) and S. Panagiotakis (EY) to 

discuss the fiscal plan deficit and the impact on the budget.

 0.70 $ 578.00 $ 404.60 

Panagiotakis,Sofia SP Manager 29-Mar-18 T3 - Long-Term Projections Participate in call with J. Burr (EY) and S. Panagiotakis (EY) to discuss the 

review of new laws which the FOMB requested additional review and the 

General Fund forecast analysis

 0.70 $ 578.00 $ 404.60 

Yano,Brian BY Senior Manager 29-Mar-18 T3 -Creditor Mediation Support Discussion with A Bargoot (Proskauer) regarding discovery privilege log 0.20 $ 701.00 $ 140.20 

Panagiotakis,Sofia SP Manager 30-Mar-18 T3 - Long-Term Projections Analyze the fiscal plan deficit to determine the impact on the budget for the 

general fund and other funds. 

 2.20 $ 578.00 $ 1,271.60 

Outlaw,Jessica R. JO Manager 30-Mar-18 T3 - CBA/Labor Agreements Review labor CBA files 1.80 $ 578.00 $ 1,040.40 

Outlaw,Jessica R. JO Manager 30-Mar-18 T3 - Long-Term Projections Prepare analysis of agency special revenue fund estimates 1.20 $ 578.00 $ 693.60 

Outlaw,Jessica R. JO Manager 30-Mar-18 T3 - Long-Term Projections Continue to analyze CBA provisions in revised fiscal plan 1.00 $ 578.00 $ 578.00 

Burr,Jeremy JB Senior 30-Mar-18 T3 - Long-Term Projections Review Component Unit weekly report for consistency with Fiscal Plan and 

to assist in agency due diligence

 1.30 $ 430.00 $ 559.00 

Aldana Herbas,Jose 

Alberto

HA Staff 30-Mar-18 T3 - Long-Term Projections Analyze most recent audited financial statements for the UPR 2.10 $ 236.00 $ 495.60 

Outlaw,Jessica R. JO Manager 30-Mar-18 T3 - CBA/Labor Agreements Call with J. Santambrogio (EY) to discuss labor negotiations. 0.50 $ 578.00 $ 289.00 

Outlaw,Jessica R. JO Manager 30-Mar-18 T3 - CBA/Labor Agreements Prepare for call with J. Santambrogio (EY) to discuss labor negotiations 0.40 $ 578.00 $ 231.20 

Porepa,Jodi JP Senior Manager 30-Mar-18 T3 - Long-Term Projections Review follow up questions for Government and provide feedback 0.20 $ 701.00 $ 140.20 

Santambrogio,Juan JS Executive Director 30-Mar-18 T3 - CBA/Labor Agreements Call with J. Outlaw (EY) to discuss labor negotiations. 0.50 $ 788.00 $ 394.00 

Burr,Jeremy JB Senior 31-Mar-18 T3 - Long-Term Projections Prepare summary slides of component units for FOMB revenue 

certification

 1.90 $ 430.00 $ 817.00 

Burr,Jeremy JB Senior 31-Mar-18 T3 - Long-Term Projections Review Component Unit responses from Conway to prepare summary 

analysis

 0.60 $ 430.00 $ 258.00 

Loh,Carmen Chng Wen CL Senior 1-Apr-18 T3 - Long-Term Projections Update revenue measures based on latest fiscal plan proposal for FY19 

revenue budget presentation to the FOMB

 1.40 $ 430.00 $ 602.00 

Yano,Brian BY Senior Manager 2-Apr-18 T3 -Creditor Mediation Support Update EY discovery privilege list 2.60 $ 701.00 $ 1,822.60 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 39 of 55
Exhibit C 40 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Yano,Brian BY Senior Manager 2-Apr-18 T3 -Creditor Mediation Support Review draft AAFAF / Commonwealth discovery privilege list 1.40 $ 701.00 $ 981.40 

Panagiotakis,Sofia SP Manager 2-Apr-18 T3 -Creditor Mediation Support Review and update privileged log in response to the 2004 discovery request 1.60 $ 578.00 $ 924.80 

Yano,Brian BY Senior Manager 2-Apr-18 T3 -Creditor Mediation Support Review draft FOMB discovery privilege list 1.30 $ 701.00 $ 911.30 

Burr,Jeremy JB Senior 2-Apr-18 T3 - Long-Term Projections Prepare updated FY19 revenue budget slides on Special Revenue Funds and 

Component Units

 2.10 $ 430.00 $ 903.00 

Yano,Brian BY Senior Manager 2-Apr-18 T3 -Creditor Mediation Support Review comments on EY discovery privilege list 1.20 $ 701.00 $ 841.20 

Panagiotakis,Sofia SP Manager 2-Apr-18 T3 - Long-Term Projections Review the revenues and expenditures of the 3/23 Fiscal Plan model to 

understand what has changed from the previous draft version.

 1.40 $ 578.00 $ 809.20 

Burr,Jeremy JB Senior 2-Apr-18 T3 - Long-Term Projections Prepare component unit analysis slides and special revenue fund analysis 

slides for FOMB revenue certification deck

 1.70 $ 430.00 $ 731.00 

Panagiotakis,Sofia SP Manager 2-Apr-18 T3 - Long-Term Projections Update the fiscal plan deficit analysis to understand impact to the fiscal 

plan based on the 3/23 plan.

 1.20 $ 578.00 $ 693.60 

Burr,Jeremy JB Senior 2-Apr-18 T3 - Long-Term Projections Review new fiscal plan sent by Conway (as of 3/23) for differences and 

necessary updates to FY18 budget forecast

 1.60 $ 430.00 $ 688.00 

Aldana Herbas,Jose 

Alberto

HA Staff 2-Apr-18 T3 - Long-Term Projections Review slides on key General Fund revenue assumptions 1.70 $ 236.00 $ 401.20 

Loh,Carmen Chng Wen CL Senior 2-Apr-18 T3 - Long-Term Projections Review OMB dataroom updates for FY19 budgeted revenues by agency as 

of the latest data refresh

 0.90 $ 430.00 $ 387.00 

Chepenik,Adam Brandon AC Partner/Principal 2-Apr-18 T3 - Long-Term Projections Prepare review of fiscal plan strategy 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 2-Apr-18 T3 - Long-Term Projections Call with G Malhotra (EY) and A Chepenik (EY) to discuss fiscal plan 

proposals and strategy going forward.

 0.40 $ 845.00 $ 338.00 

Malhotra,Gaurav GM Partner/Principal 2-Apr-18 T3 - Long-Term Projections Call with G Malhotra (EY) and A Chepenik (EY) to discuss fiscal plan 

proposals and strategy going forward.

 0.40 $ 845.00 $ 338.00 

Aldana Herbas,Jose 

Alberto

HA Staff 2-Apr-18 T3 - Long-Term Projections Participate in discussion with E. Arroyo (FOMB) about HTA inflows / 

outflows

 1.10 $ 236.00 $ 259.60 

Chepenik,Adam Brandon AC Partner/Principal 2-Apr-18 T3 - Long-Term Projections Continue to prepare review of fiscal plan strategy 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 2-Apr-18 T3 - Long-Term Projections Meet with C Loh (EY) and A Chepenik (EY) to discuss projections and 

next steps for fiscal plan.

 0.30 $ 845.00 $ 253.50 

Aldana Herbas,Jose 

Alberto

HA Staff 2-Apr-18 T3 - Long-Term Projections Update internal communication workplan based on changes in the budget 

process for the Commonwealth

 0.90 $ 236.00 $ 212.40 

Chepenik,Adam Brandon AC Partner/Principal 2-Apr-18 T3 - Long-Term Projections Call with C Loh (EY) and A Chepenik (EY) to discuss tax numbers. 0.20 $ 845.00 $ 169.00 

Loh,Carmen Chng Wen CL Senior 2-Apr-18 T3 - Long-Term Projections Meet with C Loh (EY) and A Chepenik (EY) to discuss projections and 

next steps for fiscal plan

 0.30 $ 430.00 $ 129.00 

Loh,Carmen Chng Wen CL Senior 2-Apr-18 T3 - Long-Term Projections Call with C Loh (EY) and A Chepenik (EY) to discuss tax numbers 0.20 $ 430.00 $ 86.00 

Yano,Brian BY Senior Manager 3-Apr-18 T3 - Long-Term Projections Analyze revenue and other information in PRASA financial and operating 

report

 2.30 $ 701.00 $ 1,612.30 

Yano,Brian BY Senior Manager 3-Apr-18 T3 -Creditor Mediation Support Draft changes to discovery log 1.70 $ 701.00 $ 1,191.70 

Panagiotakis,Sofia SP Manager 3-Apr-18 T3 - Long-Term Projections Participate in meeting with J. Burr (EY) J. Outlaw, and S. Panagiotakis 

(EY) to discuss the reconciliation of the component units to Milestone 2 

and to the fiscal plan. 

 1.30 $ 578.00 $ 751.40 

Outlaw,Jessica R. JO Manager 3-Apr-18 T3 - Long-Term Projections Participate in meeting with J. Burr (EY) J. Outlaw, and S. Panagiotakis 

(EY) to discuss the reconciliation of the component units to Milestone 2 

and to the fiscal plan. 

 1.30 $ 578.00 $ 751.40 

Porepa,Jodi JP Senior Manager 3-Apr-18 T3 - Long-Term Projections Participate in meeting with S Negron (FOMB), J Porepa (EY) and C Loh 

(EY) to discuss Fiscal Plan post-certification reporting mechanisms for the 

enforcement language included in the budget resolution

 0.80 $ 701.00 $ 560.80 

Yano,Brian BY Senior Manager 3-Apr-18 T3 - Long-Term Projections Review CW fiscal plan bridge vs prior plan 0.80 $ 701.00 $ 560.80 

Burr,Jeremy JB Senior 3-Apr-18 T3 - Long-Term Projections Participate in meeting with J. Burr (EY) J. Outlaw, and S. Panagiotakis 

(EY) to discuss the reconciliation of the component units to Milestone 2 

and to the fiscal plan 

 1.30 $ 430.00 $ 559.00 

Burr,Jeremy JB Senior 3-Apr-18 T3 - Long-Term Projections Review McKinsey's forecast of FY19 for consistency with Gov't plan 1.30 $ 430.00 $ 559.00 

Panagiotakis,Sofia SP Manager 3-Apr-18 T3 - Long-Term Projections Review the component units in the 3/23 version of the fiscal plan to 

understand changes and identify questions for the Conway team.

 0.90 $ 578.00 $ 520.20 

Loh,Carmen Chng Wen CL Senior 3-Apr-18 T3 - Long-Term Projections Prepare summary of case studies of expenditure limits and revenue 

alternatives in municipal budgeting

 1.20 $ 430.00 $ 516.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 40 of 55
Exhibit C 41 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 3-Apr-18 T3 - Long-Term Projections Call with S Panagiotakis (EY), J Burr (EY), and A Chepenik (EY) to 

discuss revenue shortfall violation letter.

 0.60 $ 845.00 $ 507.00 

Burr,Jeremy JB Senior 3-Apr-18 T3 - Long-Term Projections Review the component units' gross-up estimated by AAFAF versus total 

gross-up implied in the FP to prepare follow-up questions related to the 

revenue certification

 1.10 $ 430.00 $ 473.00 

Santambrogio,Juan JS Executive Director 3-Apr-18 T3 - Long-Term Projections Review FOMB discovery request submitted by Proskauer 0.60 $ 788.00 $ 472.80 

Panagiotakis,Sofia SP Manager 3-Apr-18 T3 - Long-Term Projections Analyze the differences between the March 2017 fiscal plan and the March 

2018 fiscal plan to understand what is driving the difference in the cash 

flow after measures

 0.80 $ 578.00 $ 462.40 

Yano,Brian BY Senior Manager 3-Apr-18 T3 - Long-Term Projections Review FOMB fiscal plan notice of violation letter 0.60 $ 701.00 $ 420.60 

Burr,Jeremy JB Senior 3-Apr-18 T3 - Long-Term Projections Review FP1.0 from 3/26/17 comparing the differences to the FP dated 

3/23/18 to prepare key points on surplus estimate by the government

 0.90 $ 430.00 $ 387.00 

Panagiotakis,Sofia SP Manager 3-Apr-18 T3 - Long-Term Projections Call with S Panagiotakis (EY), J Burr (EY), and A Chepenik (EY) to 

discuss revenue shortfall violation letter.

 0.60 $ 578.00 $ 346.80 

Panagiotakis,Sofia SP Manager 3-Apr-18 T3 - Long-Term Projections Review the OMB letter identifying new unexpected expenses and compare 

them to the fiscal plan and to the expenses already identified.

 0.60 $ 578.00 $ 346.80 

Loh,Carmen Chng Wen CL Senior 3-Apr-18 T3 - Long-Term Projections Participate in meeting with S Negron (FOMB), J Porepa (EY) and C Loh 

(EY) to discuss Fiscal Plan post-certification reporting mechanisms for the 

enforcement language included in the budget resolution

 0.80 $ 430.00 $ 344.00 

Yano,Brian BY Senior Manager 3-Apr-18 T3 - Long-Term Projections Review updated CW fiscal plan bridge vs prior plan 0.40 $ 701.00 $ 280.40 

Burr,Jeremy JB Senior 3-Apr-18 T3 - Long-Term Projections Call with S Panagiotakis (EY), J Burr (EY), and A Chepenik (EY) to 

discuss revenue shortfall violation letter.

 0.60 $ 430.00 $ 258.00 

Chepenik,Adam Brandon AC Partner/Principal 3-Apr-18 T3 - Long-Term Projections Participate in call with F Pena (Hacienda) to discuss fiscal plan layout for 

tax reform plans.

 0.30 $ 845.00 $ 253.50 

Chepenik,Adam Brandon AC Partner/Principal 3-Apr-18 T3 - Long-Term Projections Edit FY18 budget to fiscal plan revenue shortfall violation letter. 0.30 $ 845.00 $ 253.50 

Loh,Carmen Chng Wen CL Senior 3-Apr-18 T3 - Long-Term Projections Review Fiscal Plan post-certification reporting mechanisms for the purpose 

of enforcement language

 0.50 $ 430.00 $ 215.00 

Yano,Brian BY Senior Manager 4-Apr-18 T3 -Creditor Mediation Support Update EY discovery log for feedback received to add other fomb parties 2.70 $ 701.00 $ 1,892.70 

Yano,Brian BY Senior Manager 4-Apr-18 T3 - Long-Term Projections Review CW developed fiscal plan materials that impact budget process 2.30 $ 701.00 $ 1,612.30 

Burr,Jeremy JB Senior 4-Apr-18 T3 - Long-Term Projections Prepare supporting due diligence of 13 component units to support revenue 

certification - summary analysis includes comparison of FY19 FP to OMB 

Submission files provided by individual agencies

 2.90 $ 430.00 $ 1,247.00 

Porepa,Jodi JP Senior Manager 4-Apr-18 T3 - Long-Term Projections Update resolution considerations based on Fiscal Plan measures 1.50 $ 701.00 $ 1,051.50 

Burr,Jeremy JB Senior 4-Apr-18 T3 - Long-Term Projections Prepare supporting due diligence of 13 component units to support revenue 

certification - summary analysis includes comparison of OMB Submission 

files provided by individual agencies to the FY18 Sabana file (expense 

budgets from prior year)

 2.30 $ 430.00 $ 989.00 

Rodriguez-Ramos,Rosa M. RR Executive Director 4-Apr-18 T3 - Long-Term Projections Analyze certain aspects of the proposed flat rates regimes for service 

providers pursuant to request from executive director.

 1.20 $ 788.00 $ 945.60 

Burr,Jeremy JB Senior 4-Apr-18 T3 - Long-Term Projections Update Component Unit workbook with non-independently forecasted 

component units as provided by the OMB Submission comparing them to 

FY18 Sabana File to support FY19 revenue certification

 1.60 $ 430.00 $ 688.00 

Panagiotakis,Sofia SP Manager 4-Apr-18 T3 - Long-Term Projections Review the documents uploaded by the component units to support their 

revenue assumptions to determine how useful and what kind of support was 

provided in order to evaluate the reasonableness of component unit 

revenues

 1.10 $ 578.00 $ 635.80 

Loh,Carmen Chng Wen CL Senior 4-Apr-18 T3 - Long-Term Projections Update internal workplan and schedule based on revisions to expected 

fiscal plan certification

 1.40 $ 430.00 $ 602.00 

Panagiotakis,Sofia SP Manager 4-Apr-18 T3 - Long-Term Projections Prepare a slide identifying the limitations in the budget and the fiscal plan 

that prevent us from identifying the revenue for the budget by fund types. 

 0.90 $ 578.00 $ 520.20 

Loh,Carmen Chng Wen CL Senior 4-Apr-18 T3 - Long-Term Projections Update revenue forecast letter for PREPA for review by the FOMB 

regarding forecast data as detailed in the Fiscal Plan 

 1.20 $ 430.00 $ 516.00 

Loh,Carmen Chng Wen CL Senior 4-Apr-18 T3 - Long-Term Projections Review forecasted revenue in special revenue funds, other income and 

enterprise fund balances by agency based on OMB's dataroom refresh

 1.20 $ 430.00 $ 516.00 

Panagiotakis,Sofia SP Manager 4-Apr-18 T3 - Long-Term Projections Compare the revenue measures in the FOMB plan with the government 

plan to understand variances and impacted line items.

 0.70 $ 578.00 $ 404.60 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 41 of 55
Exhibit C 42 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Burr,Jeremy JB Senior 4-Apr-18 T3 - Long-Term Projections Prepare minor adjustments to the FY18 budget forecasted for FOMB 

review

 0.90 $ 430.00 $ 387.00 

Panagiotakis,Sofia SP Manager 4-Apr-18 T3 - Long-Term Projections Review the letter to CRIM drafted by the OMB and compare the 

municipalities appropriation to the March 2017 and 3/23/2018 fiscal plan.

 0.60 $ 578.00 $ 346.80 

Burr,Jeremy JB Senior 4-Apr-18 T3 - Long-Term Projections Prepare summary component unit update slide for revenue deck for FOMB 

presentation

 0.70 $ 430.00 $ 301.00 

Yano,Brian BY Senior Manager 4-Apr-18 T3 - Long-Term Projections Review near term instrumentality matters impacted the FP and budget 0.40 $ 701.00 $ 280.40 

Loh,Carmen Chng Wen CL Senior 4-Apr-18 T3 - Long-Term Projections Review tax initiatives and corresponding costs and payoffs proposed by the 

Government in the latest Fiscal Plan proposal received 

 0.60 $ 430.00 $ 258.00 

Yano,Brian BY Senior Manager 5-Apr-18 T3 -Creditor Mediation Support Review comments on discovery log 3.10 $ 701.00 $ 2,173.10 

Outlaw,Jessica R. JO Manager 5-Apr-18 T3 - CBA/Labor Agreements Participate in meeting with C. George (O'Neill and Borges) to discuss CBA 

Review

 1.90 $ 578.00 $ 1,098.20 

Burr,Jeremy JB Senior 5-Apr-18 T3 - Long-Term Projections Review milestone #2 documents for HFA (component unit) to prepare 

follow-up questions for revenue certification

 2.30 $ 430.00 $ 989.00 

Yano,Brian BY Senior Manager 5-Apr-18 T3 -Creditor Mediation Support Update EY discovery log to address additional feedback 1.20 $ 701.00 $ 841.20 

Burr,Jeremy JB Senior 5-Apr-18 T3 - Long-Term Projections Review milestone #2 documents for SIFC (component unit) to prepare 

follow-up questions for revenue certification

 1.90 $ 430.00 $ 817.00 

Burr,Jeremy JB Senior 5-Apr-18 T3 - Long-Term Projections Review milestone #2 documents for ASES (component unit) to prepare 

follow-up questions for revenue certification

 1.60 $ 430.00 $ 688.00 

Panagiotakis,Sofia SP Manager 5-Apr-18 T3 - Long-Term Projections Participate in meeting with J. Burr (EY) and S. Panagiotakis (EY) to 

compare the component units in the fiscal plan with historical budgets and 

the Government's FY18 weekly component unit liquidity report to 

understand variances

 1.10 $ 578.00 $ 635.80 

Aldana Herbas,Jose 

Alberto

HA Staff 5-Apr-18 T3 - Long-Term Projections Analyze PRASA's Fiscal Plan as of April 5, 2018 2.30 $ 236.00 $ 542.80 

Yano,Brian BY Senior Manager 5-Apr-18 T3 -Creditor Mediation Support Address questions from Proskauer on discovery log 0.70 $ 701.00 $ 490.70 

Burr,Jeremy JB Senior 5-Apr-18 T3 - Long-Term Projections Participate in meeting with J. Burr (EY) and S. Panagiotakis (EY) to 

compare the component units in the fiscal plan with historical budgets and 

the Government's FY18 weekly component unit liquidity report to 

understand variances

 1.10 $ 430.00 $ 473.00 

Burr,Jeremy JB Senior 5-Apr-18 T3 - Long-Term Projections Prepare agenda and questions for Component Unit discussion and FY19 

revenue budget with Conway on 4/6

 0.90 $ 430.00 $ 387.00 

Loh,Carmen Chng Wen CL Senior 5-Apr-18 T3 -Creditor Mediation Support Review discovery document as advised by general counsel to the FOMB to 

ensure relevant areas are covered

 0.70 $ 430.00 $ 301.00 

Chepenik,Adam Brandon AC Partner/Principal 5-Apr-18 T3 - Long-Term Projections Participate in call with S Panagiotakis (EY) and A Chepenik (EY) to 

discuss reconciliation to municipal subsidy figures.

 0.30 $ 845.00 $ 253.50 

Panagiotakis,Sofia SP Manager 5-Apr-18 T3 - Long-Term Projections Participate in call with S Panagiotakis (EY) and A Chepenik (EY) to 

discuss reconciliation to municipal subsidy figures.

 0.30 $ 578.00 $ 173.40 

Aldana Herbas,Jose 

Alberto

HA Staff 5-Apr-18 T3 - Long-Term Projections Update historical revenue analysis slides for PRASA to reflect changes in 

the most recent version of PRASA's Fiscal Plan

 0.60 $ 236.00 $ 141.60 

Loh,Carmen Chng Wen CL Senior 5-Apr-18 T3 - Long-Term Projections Discussion with J Davis (McKinsey) on calculation methodology of 

proposed tax initiatives in the Government's latest Fiscal Plan update

 0.30 $ 430.00 $ 129.00 

Yano,Brian BY Senior Manager 6-Apr-18 T3 - Long-Term Projections Analyze latest PRASA FP and budget information provided by PRASA 2.80 $ 701.00 $ 1,962.80 

Panagiotakis,Sofia SP Manager 6-Apr-18 T3 - Long-Term Projections Participate in weekly meeting with the Board to discuss long-term fiscal 

plan. Meeting led by N Jaresko (EY). Joined by G Malhotra (EY), A 

Chepenik (EY), S Panagiotakis (EY), J Aldana (EY)

 2.20 $ 578.00 $ 1,271.60 

Burr,Jeremy JB Senior 6-Apr-18 T3 - Long-Term Projections Prepare questions for Component Units (HFA, Tourism, Convention, 

ADEA, PRIDCO) for discussion with Conway regarding the FY19 budget

 2.90 $ 430.00 $ 1,247.00 

Yano,Brian BY Senior Manager 6-Apr-18 T3 - Long-Term Projections Analyze FP and budget information for GDB 1.70 $ 701.00 $ 1,191.70 

Burr,Jeremy JB Senior 6-Apr-18 T3 - Long-Term Projections Review milestone #2 documents for PRIDCO (component unit) to prepare 

follow-up questions for revenue certification

 2.10 $ 430.00 $ 903.00 

Panagiotakis,Sofia SP Manager 6-Apr-18 T3 - Long-Term Projections Review component units in the 4/5 Government fiscal plan to prepare 

questions for the call with Conway.

 1.40 $ 578.00 $ 809.20 

Aldana Herbas,Jose 

Alberto

HA Staff 6-Apr-18 T3 - Long-Term Projections Analyze review of Commonwealth, PRASA and PREPA Fiscal Plan 

submissions provided by McKinsey team

 3.30 $ 236.00 $ 778.80 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 42 of 55
Exhibit C 43 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Malhotra,Gaurav GM Partner/Principal 6-Apr-18 T3 - Long-Term Projections Provide analysis and feedback on long-term estimates included in fiscal 

plan

 0.90 $ 845.00 $ 760.50 

Panagiotakis,Sofia SP Manager 6-Apr-18 T3 - Long-Term Projections Participate in call with S Panagiotakis, J Outlaw, J Burr (EY), R Wagstaff, 

R Di Napoli, B Biggio (Conway) to discuss component unit's revenue as 

submitted to OMB by the agency and stated in the fiscal plan

 1.20 $ 578.00 $ 693.60 

Outlaw,Jessica R. JO Manager 6-Apr-18 T3 - Long-Term Projections Participate in call with S Panagiotakis, J Outlaw, J Burr (EY), R Wagstaff, 

R Di Napoli, B Biggio (Conway) to discuss component unit's revenue as 

submitted to OMB by the agency and stated in the fiscal plan

 1.20 $ 578.00 $ 693.60 

Panagiotakis,Sofia SP Manager 6-Apr-18 T3 - Long-Term Projections Review the Government's fiscal plan dated 4/5 to understand what has 

changed from prior versions. 

 1.10 $ 578.00 $ 635.80 

Aldana Herbas,Jose 

Alberto

HA Staff 6-Apr-18 T3 - Long-Term Projections Participate in weekly meeting with the Board to discuss long-term fiscal 

plan. Meeting led by N Jaresko (EY). Joined by G Malhotra (EY), A 

Chepenik (EY), S Panagiotakis (EY), J Aldana (EY)

 2.20 $ 236.00 $ 519.20 

Burr,Jeremy JB Senior 6-Apr-18 T3 - Long-Term Projections Participate in call with S Panagiotakis, J Outlaw, J Burr (EY), R Wagstaff, 

R Di Napoli, B Biggio (Conway) to discuss component unit's revenue as 

submitted to OMB by the agency and stated in the fiscal plan

 1.20 $ 430.00 $ 516.00 

Burr,Jeremy JB Senior 6-Apr-18 T3 - Long-Term Projections Prepare follow-up questions for four agencies (component units) that did 

not submit FY19 projections to OMB 

 1.20 $ 430.00 $ 516.00 

Chepenik,Adam Brandon AC Partner/Principal 6-Apr-18 T3 - Long-Term Projections Participate in conversation with F Pena (Hacienda) to discuss revenue 

forecast.

 0.60 $ 845.00 $ 507.00 

Panagiotakis,Sofia SP Manager 6-Apr-18 T3 - Long-Term Projections Review the Component unit analysis prepared by Conway for the nonindependently forecasted component units to understand surplus included in 

the fiscal plan.

 0.60 $ 578.00 $ 346.80 

Chepenik,Adam Brandon AC Partner/Principal 6-Apr-18 T3 - Long-Term Projections Draft write up on readout for N Jaresko (FOMB) and S Negron (FOMB) on 

A Chepenik's (EY) conversation with F Pena (Hacienda) on revenue 

forecast.

 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 6-Apr-18 T3 - Long-Term Projections Call with S Panagiotakis (EY) and A Chepenik to discuss long-term 

projections and reconciliation process.

 0.30 $ 845.00 $ 253.50 

Aldana Herbas,Jose 

Alberto

HA Staff 6-Apr-18 T3 - Long-Term Projections Update historical revenue analysis for PRASA based on E. Arroyo's 

(FOMB) feedback

 0.90 $ 236.00 $ 212.40 

Panagiotakis,Sofia SP Manager 6-Apr-18 T3 - Long-Term Projections Call with S Panagiotakis (EY) and A Chepenik to discuss long-term 

projections and reconciliation process.

 0.30 $ 578.00 $ 173.40 

Panagiotakis,Sofia SP Manager 7-Apr-18 T3 - Long-Term Projections Update the FY19 budget deficit analysis based on the Government's 4/5 

Fiscal plan, to understand potential budget gap in the general and 

consolidated budget

 0.80 $ 578.00 $ 462.40 

Panagiotakis,Sofia SP Manager 7-Apr-18 T3 - Long-Term Projections Draft email to Conway following call on Friday 4/6 summarizing additional 

questions on the fiscal plan and the component units

 0.30 $ 578.00 $ 173.40 

Burr,Jeremy JB Senior 8-Apr-18 T3 - Long-Term Projections Update Component unit slide with FY18 liquidity report info and FY17 

actuals for the FOMB FY19 revenue deck presentation

 3.80 $ 430.00 $ 1,634.00 

Outlaw,Jessica R. JO Manager 8-Apr-18 T3 - CBA/Labor Agreements Begin to prepare labor plan presentation slides 1.20 $ 578.00 $ 693.60 

Outlaw,Jessica R. JO Manager 9-Apr-18 T3 - CBA/Labor Agreements Edit slides 1 to 7 on labor plan presentation for FOMB review 3.40 $ 578.00 $ 1,965.20 

Santambrogio,Juan JS Executive Director 9-Apr-18 T3 - Long-Term Projections Review New Fiscal Plan version prepared by the Government dated April 5 

for implications to budget

 2.40 $ 788.00 $ 1,891.20 

Burr,Jeremy JB Senior 9-Apr-18 T3 - Long-Term Projections Review the FY18 Budget Resolutions for 12 component units for 

comparison against FY19 Revenue projection

 3.70 $ 430.00 $ 1,591.00 

Burr,Jeremy JB Senior 9-Apr-18 T3 - Long-Term Projections Prepare follow-up email to PBA, PRITA, Cardio, Ports (component unit) 

to request FY19 projections and due diligence questions

 2.70 $ 430.00 $ 1,161.00 

Outlaw,Jessica R. JO Manager 9-Apr-18 T3 - Long-Term Projections Begin review of FOMB fiscal plan 1.70 $ 578.00 $ 982.60 

Burr,Jeremy JB Senior 9-Apr-18 T3 - Long-Term Projections Review milestone #2 documents for HFA (component unit) to prepare 

follow-up questions for revenue certification

 2.20 $ 430.00 $ 946.00 

Burr,Jeremy JB Senior 9-Apr-18 T3 - Long-Term Projections Prepare follow-up questions for Conway based on (1) follow-up items from 

Fri 4/6 call (2) new diligence done on component units (3) list of Budget 

items to exclude/include

 1.60 $ 430.00 $ 688.00 

Yano,Brian BY Senior Manager 9-Apr-18 T3 -Creditor Mediation Support Review comments on discovery matters 0.80 $ 701.00 $ 560.80 

Loh,Carmen Chng Wen CL Senior 9-Apr-18 T3 - Long-Term Projections Update fiscal plan measures proposed by the Government impacting the 

FY19 budgeted revenues

 1.30 $ 430.00 $ 559.00 

Chepenik,Adam Brandon AC Partner/Principal 9-Apr-18 T3 - Long-Term Projections Update and send note on Opportunity Zones to N Jaresko (FOMB) 0.60 $ 845.00 $ 507.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 43 of 55
Exhibit C 44 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Santambrogio,Juan JS Executive Director 9-Apr-18 T3 - Long-Term Projections Participate in call with M. Tulla (Board), J. Santambrogio (EY), and S. 

Panagiotakis (EY) to discuss the revenue analysis for independently 

forecasted component units in the fiscal plan

 0.50 $ 788.00 $ 394.00 

Santambrogio,Juan JS Executive Director 9-Apr-18 T3 - Long-Term Projections Participate in meeting with E. Arroyo (Board), J. Santambrogio (EY), and 

S. Panagiotakis (EY) to discuss the prior year encumbrances and the 

payment of prior year payables.

 0.40 $ 788.00 $ 315.20 

Panagiotakis,Sofia SP Manager 9-Apr-18 T3 - Long-Term Projections Participate in call with M. Tulla (Board), J. Santambrogio (EY), and S. 

Panagiotakis (EY) to discuss the revenue analysis for independently 

forecasted component units in the fiscal plan.

 0.50 $ 578.00 $ 289.00 

Panagiotakis,Sofia SP Manager 9-Apr-18 T3 - Long-Term Projections Participate in meeting with E. Arroyo (Board), J. Santambrogio (EY), and 

S. Panagiotakis (EY) to discuss the prior year encumbrances and the 

payment of prior year payables

 0.40 $ 578.00 $ 231.20 

Outlaw,Jessica R. JO Manager 10-Apr-18 T3 - CBA/Labor Agreements Continue to edit slides 8 through 15 on labor work plan presentation for 

FOMB review

 3.20 $ 578.00 $ 1,849.60 

Santambrogio,Juan JS Executive Director 10-Apr-18 T3 - Long-Term Projections Analyze financial projections model in Government's April 5 fiscal plan to 

understand implications to Budget

 1.90 $ 788.00 $ 1,497.20 

Panagiotakis,Sofia SP Manager 10-Apr-18 T3 - Long-Term Projections Update FY19 budget revenue analysis and revenue letter based on the 

FOMB version of the fiscal plan.

 2.10 $ 578.00 $ 1,213.80 

Santambrogio,Juan JS Executive Director 10-Apr-18 T3 - Long-Term Projections Review PREPA and HTA fiscal plans for impact on budget process 1.40 $ 788.00 $ 1,103.20 

Panagiotakis,Sofia SP Manager 10-Apr-18 T3 - Long-Term Projections Review the FOMB's version of the fiscal plan to understand changes from 

prior versions and compare it to the government's version.

 1.80 $ 578.00 $ 1,040.40 

Panagiotakis,Sofia SP Manager 10-Apr-18 T3 - Long-Term Projections Participate in meeting with McKinsey, J. Burr (EY), J. Outlaw (EY) and S. 

Panagiotakis to discuss the assumptions in the FOMB's version of the fiscal 

plan J Outlaw left early

 1.60 $ 578.00 $ 924.80 

Burr,Jeremy JB Senior 10-Apr-18 T3 - Long-Term Projections Update the component unit due diligence work book to include the FOMB 

fiscal plan provided by McKinsey to compare difference from 

Government's plan

 2.10 $ 430.00 $ 903.00 

Koch,Cathleen M CK Partner/Principal 10-Apr-18 T3 - Long-Term Projections Review long-term projections email from A Chepenik (EY) and discuss 

with A Chepenik (EY) and Michael Mundaca (EY)

 1.00 $ 845.00 $ 845.00 

Loh,Carmen Chng Wen CL Senior 10-Apr-18 T3 - Long-Term Projections Update Board presentation for PREPA's accounts payables and 

intergovernmental payables analysis based on historical metrics and actuals 

received from the Government

 1.70 $ 430.00 $ 731.00 

Outlaw,Jessica R. JO Manager 10-Apr-18 T3 - CBA/Labor Agreements Continue review of pages 15 to 40 of revised fiscal plan 1.20 $ 578.00 $ 693.60 

Burr,Jeremy JB Senior 10-Apr-18 T3 - Long-Term Projections Participate in meeting with McKinsey, J. Burr (EY), J. Outlaw (EY) and S. 

Panagiotakis to discuss the assumptions in the FOMB's version of the fiscal 

plan. J. Outlaw left early

 1.60 $ 430.00 $ 688.00 

Loh,Carmen Chng Wen CL Senior 10-Apr-18 T3 - Long-Term Projections Update Board presentation for PREPA's accounts receivables analysis 

based on historical metrics and actuals based on updated data from the 

Government

 1.50 $ 430.00 $ 645.00 

Outlaw,Jessica R. JO Manager 10-Apr-18 T3 - Long-Term Projections Participate in meeting with McKinsey, J. Burr (EY), J. Outlaw (EY) and S. 

Panagiotakis to discuss the assumptions in the FOMB's version of the fiscal 

plan. (partial attendance)

 1.10 $ 578.00 $ 635.80 

Burr,Jeremy JB Senior 10-Apr-18 T3 - Long-Term Projections Review FOMB's fiscal plan for updates to the FY18 expense budget 

forecast

 1.20 $ 430.00 $ 516.00 

Panagiotakis,Sofia SP Manager 10-Apr-18 T3 - Long-Term Projections Participate in meeting with J. Burr (EY) and S. Panagiotakis (EY) to 

analyze the component units in the Board's version of the fiscal plan and 

compare the revenue to the milestone 2 submission.

 0.80 $ 578.00 $ 462.40 

Aldana Herbas,Jose 

Alberto

HA Staff 10-Apr-18 T3 - Long-Term Projections Analyze COSSEC's revised Fiscal Plan as of April 5, 2018 1.80 $ 236.00 $ 424.80 

Loh,Carmen Chng Wen CL Senior 10-Apr-18 T3 - Long-Term Projections Review FY18 Certified Budget for comparison against revised baseline for 

FY18 revenues in the latest proposed Fiscal Plan

 0.90 $ 430.00 $ 387.00 

Aldana Herbas,Jose 

Alberto

HA Staff 10-Apr-18 T3 - Long-Term Projections Review "Analysis of COSSEC Draft Fiscal Plan - Revised" dated April 8, 

2018

 1.60 $ 236.00 $ 377.60 

Burr,Jeremy JB Senior 10-Apr-18 T3 - Long-Term Projections Participate in meeting with J. Burr (EY) and S. Panagiotakis (EY) to 

analyze the component units in the Board's version of the fiscal plan and 

compare the revenue to the milestone 2 submission

 0.80 $ 430.00 $ 344.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 44 of 55
Exhibit C 45 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Burr,Jeremy JB Senior 10-Apr-18 T3 - Long-Term Projections Review FOMB's fiscal plan for updates to the FY19 revenue forecast (as 

compared to the Government's plan)

 0.70 $ 430.00 $ 301.00 

Yano,Brian BY Senior Manager 10-Apr-18 T3 - Long-Term Projections Review govt letter on COSSEC FP 0.40 $ 701.00 $ 280.40 

Yano,Brian BY Senior Manager 11-Apr-18 T3 - Long-Term Projections Provide feedback revenue letters for selected instrumentalities including 

feedback on public corps without fiscal plan needs

 2.70 $ 701.00 $ 1,892.70 

Outlaw,Jessica R. JO Manager 11-Apr-18 T3 - CBA/Labor Agreements Continue review of pages 40 to 70 of revised fiscal plan 2.70 $ 578.00 $ 1,560.60 

Burr,Jeremy JB Senior 11-Apr-18 T3 - Long-Term Projections Review milestone #2 documents for PRIDCO (component unit) to prepare 

follow-up questions for revenue certification

 2.20 $ 430.00 $ 946.00 

Panagiotakis,Sofia SP Manager 11-Apr-18 T3 - Long-Term Projections Participate in meeting with J Reed, D Udom, O Shah (McKinsey) S 

Panagiotakis (EY), J Burr (EY) to discuss the FOMB's fiscal plan including 

the FY18 budget, FY19 budget and Component Units.

 1.40 $ 578.00 $ 809.20 

Burr,Jeremy JB Senior 11-Apr-18 T3 - Long-Term Projections Prepare summary review analysis of SIFC to prepare follow-up questions 

for the agency

 1.80 $ 430.00 $ 774.00 

Panagiotakis,Sofia SP Manager 11-Apr-18 T3 - Long-Term Projections Prepare FY19 budget revenue based on the Government's 4/5 plan to share 

with the Government in the meeting on 4/12

 1.20 $ 578.00 $ 693.60 

Burr,Jeremy JB Senior 11-Apr-18 T3 - Long-Term Projections Participate in meeting with J Reed, D Udom, O Shah (McKinsey) S 

Panagiotakis (EY), J Burr (EY) to discuss the FOMB's fiscal plan including 

the FY18 budget, FY19 budget and Component Units.

 1.40 $ 430.00 $ 602.00 

Panagiotakis,Sofia SP Manager 11-Apr-18 T3 - Long-Term Projections Compare the federal funds assumptions included in the FOMB and 

Government version of the fiscal plan to understand impact to revenue 

letter

 0.90 $ 578.00 $ 520.20 

Panagiotakis,Sofia SP Manager 11-Apr-18 T3 - Long-Term Projections Revise the presentation on the FY19 revenue budget based on the FOMB 

plan. 

 0.60 $ 578.00 $ 346.80 

Aldana Herbas,Jose 

Alberto

HA Staff 11-Apr-18 T3 - Long-Term Projections Review cash controls page for UPR Fiscal Plan 0.70 $ 236.00 $ 165.20 

Yano,Brian BY Senior Manager 12-Apr-18 T3 - Long-Term Projections Review latest draft FOMB FP plans for certain instrumentalities 2.20 $ 701.00 $ 1,542.20 

Burr,Jeremy JB Senior 12-Apr-18 T3 - Long-Term Projections Review milestone #2 documents for ASEM (component unit) to prepare 

follow-up questions for revenue certification

 3.30 $ 430.00 $ 1,419.00 

Outlaw,Jessica R. JO Manager 12-Apr-18 T3 - CBA/Labor Agreements Continue review of pages 70 to 100 of revised fiscal plan 1.80 $ 578.00 $ 1,040.40 

Burr,Jeremy JB Senior 12-Apr-18 T3 - Long-Term Projections Review milestone #2 documents for ADEA (component unit) to prepare 

follow-up questions for revenue certification

 2.30 $ 430.00 $ 989.00 

Chepenik,Adam Brandon AC Partner/Principal 12-Apr-18 T3 - Long-Term Projections Edit Oklahoma forecasting overview sheet for M Tullia (FOMB) before 

sending it to him.

 0.90 $ 845.00 $ 760.50 

Loh,Carmen Chng Wen CL Senior 12-Apr-18 T3 - Long-Term Projections Update revenue bridge for PREPA based on feedback from the FOMB 

regarding prevailing fiscal plan projections that should be reflected

 1.10 $ 430.00 $ 473.00 

Chepenik,Adam Brandon AC Partner/Principal 12-Apr-18 T3 - Long-Term Projections Participate in call with J Alberto Aldana Herbas (EY) and A Chepenik 

(EY) to discuss M Tullia (FOMB) request for a detailed overview on how 

Oklahoma does its budgeting forecasting process.

 0.30 $ 845.00 $ 253.50 

Panagiotakis,Sofia SP Manager 12-Apr-18 T3 - Long-Term Projections Review the component unit write up analysis prepared by McKinsey when 

reviewing the Independently Forecasted component units in the fiscal plan 

to understand impact to FY19 budget

 0.40 $ 578.00 $ 231.20 

Chepenik,Adam Brandon AC Partner/Principal 13-Apr-18 T3 - Long-Term Projections Draft overview of how Puerto Rico forecasting process can be mapped to 

Oklahoma process and send memo to M Tullia (FOMB).

 2.10 $ 845.00 $ 1,774.50 

Hymovitz Cardona,Pablo S CH Executive Director 13-Apr-18 T3 - Long-Term Projections Research financial responsibility tests in the previous and current versions 

of the PR Code.

 1.80 $ 788.00 $ 1,418.40 

Chepenik,Adam Brandon AC Partner/Principal 13-Apr-18 T3 - Long-Term Projections Participate in FOMB board with advisors led by N Jaresko (FOMB) with 

board members to discuss long-term fiscal plan. Joined by G Malhotra 

(EY), J Santambrogio (EY), A Chepenik (EY).

 1.20 $ 845.00 $ 1,014.00 

Malhotra,Gaurav GM Partner/Principal 13-Apr-18 T3 - Long-Term Projections Participate in FOMB board with advisors led by N Jaresko (FOMB) with 

board members to discuss long-term fiscal plan. Joined by G Malhotra 

(EY), J Santambrogio (EY), A Chepenik (EY).

 1.20 $ 845.00 $ 1,014.00 

Santambrogio,Juan JS Executive Director 13-Apr-18 T3 - Long-Term Projections Participate in FOMB board with advisors led by N Jaresko (FOMB) with 

board members to discuss long-term fiscal plan. Joined by G Malhotra 

(EY) J Santambrogio (EY) A Chepenik (EY)

 1.20 $ 788.00 $ 945.60 

Chepenik,Adam Brandon AC Partner/Principal 13-Apr-18 T3 - Long-Term Projections Participate in COSSEC fiscal plan forecasting discussion with FOB board 

members. Meeting led by N Jaresko (FOMB) with McKinsey team.

 0.90 $ 845.00 $ 760.50 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 45 of 55
Exhibit C 46 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Panagiotakis,Sofia SP Manager 13-Apr-18 T3 - Long-Term Projections Research the clawback revenue the flows through the TSA and through the 

component units to determine what is included in the fiscal plan and how 

that should be used for budgeted revenue

 1.20 $ 578.00 $ 693.60 

Panagiotakis,Sofia SP Manager 13-Apr-18 T3 - Long-Term Projections Participate in call with S Panagiotakis (EY) and J Burr (EY) to discuss 

remaining due diligence for Component Units and Special Revenue Funds 

for the FY19 revenue certification 

 1.10 $ 578.00 $ 635.80 

Burr,Jeremy JB Senior 13-Apr-18 T3 - Long-Term Projections Review information and responses from our due diligence request from 

Cardio (component unit) 

 1.40 $ 430.00 $ 602.00 

Panagiotakis,Sofia SP Manager 13-Apr-18 T3 - Long-Term Projections Research the how the slot revenue and room tax revenue flow through the 

fiscal plan model to understand how it should be captured in the budgeted 

revenue.

 0.90 $ 578.00 $ 520.20 

Burr,Jeremy JB Senior 13-Apr-18 T3 - Long-Term Projections Participate in call with S Panagiotakis (EY) and J Burr (EY) to discuss 

remaining due diligence for Component Units and Special Revenue Funds 

for the FY19 revenue certification 

 1.10 $ 430.00 $ 473.00 

Porepa,Jodi JP Senior Manager 13-Apr-18 T3 - Long-Term Projections Participate in call with A. Mendez (AAFAF) and S. Panagiotakis (EY) to 

discuss clawback revenue used for budget purposes and balancing the 

budget.

 0.60 $ 701.00 $ 420.60 

Panagiotakis,Sofia SP Manager 13-Apr-18 T3 - Long-Term Projections Participate in weekly meeting with the Board to discuss long-term fiscal 

plan. Meeting led by N Jaresko (EY). Joined by A. Chepenik (EY), J. 

Santambrogio (EY), J. Porepa (EY) and S. Panagiotakis (EY). S. 

Panagiotakis joined late

 0.70 $ 578.00 $ 404.60 

Panagiotakis,Sofia SP Manager 13-Apr-18 T3 - Long-Term Projections Participate in call with J. Reed (McKinsey) and J. Outlaw (EY) to discuss 

federal funds revenue and claw back revenue in the fiscal plan.

 0.60 $ 578.00 $ 346.80 

Outlaw,Jessica R. JO Manager 13-Apr-18 T3 - Long-Term Projections Participate in call with J. Reed (McKinsey) and S. Panagiotakis (EY) to 

discuss federal funds revenue and claw back revenue in the fiscal plan.

 0.60 $ 578.00 $ 346.80 

Panagiotakis,Sofia SP Manager 13-Apr-18 T3 - Long-Term Projections Participate in call with A. Mendez (AAFAF) and J. Porepa (EY) to discuss 

clawback revenue used for budget purposes and balancing the budget.

 0.60 $ 578.00 $ 346.80 

Burr,Jeremy JB Senior 13-Apr-18 T3 - Long-Term Projections Follow-up with McKinsey on modeling of PBA in the fiscal plan in 

comparison to the agencies FY18 total budget

 0.70 $ 430.00 $ 301.00 

Outlaw,Jessica R. JO Manager 13-Apr-18 T3 - Long-Term Projections Participate in call with J Outlaw (EY) and J Burr (EY) to discuss 

Department of Labor ingresos propios due diligence

 0.40 $ 578.00 $ 231.20 

Loh,Carmen Chng Wen CL Senior 13-Apr-18 T3 - Long-Term Projections Prepare correspondence email for request of FY19 revenues and historical 

data supporting the fiscal plan projections received

 0.50 $ 430.00 $ 215.00 

Burr,Jeremy JB Senior 13-Apr-18 T3 - Long-Term Projections Participate in call with J Outlaw (EY) and J Burr (EY) to discuss 

Department of Labor ingresos propios due diligence

 0.40 $ 430.00 $ 172.00 

Santambrogio,Juan JS Executive Director 15-Apr-18 T3 - Long-Term Projections Review and provide comments to draft New Fiscal Plan document 2.80 $ 788.00 $ 2,206.40 

Panagiotakis,Sofia SP Manager 16-Apr-18 T3 - Long-Term Projections Prepare a reconciliation of the budget to the Government's 4/5 fiscal plan to 

understand the potential deficit in the general fund, Other funds and 

consolidated budget. 

 2.10 $ 578.00 $ 1,213.80 

Chepenik,Adam Brandon AC Partner/Principal 16-Apr-18 T3 - Long-Term Projections Review and comment on introduction section of the draft fiscal plan. Send 

comments to S Negron (FOMB).

 1.40 $ 845.00 $ 1,183.00 

Chepenik,Adam Brandon AC Partner/Principal 16-Apr-18 T3 - Long-Term Projections Review and comment on OCFO section of the draft fiscal plan. 1.30 $ 845.00 $ 1,098.50 

Outlaw,Jessica R. JO Manager 16-Apr-18 T3 - CBA/Labor Agreements Continue review of pages 100 to end of revised fiscal plan 1.70 $ 578.00 $ 982.60 

Chepenik,Adam Brandon AC Partner/Principal 16-Apr-18 T3 - Long-Term Projections Review and comment on tax section of the draft fiscal plan. Send 

comments to S Negron (FOMB) and McKinsey team.

 1.10 $ 845.00 $ 929.50 

Rodriguez-Ramos,Rosa M. RR Executive Director 16-Apr-18 T3 - Long-Term Projections Email N Jareko (FOMB) and A Chepenik (EY) with notes about key 

changes in filed tax proposal bill from previous version at N Jaresko 

(FOMB) request.

 1.00 $ 788.00 $ 788.00 

Burr,Jeremy JB Senior 16-Apr-18 T3 - Long-Term Projections Prepare for call with HFA to discuss FY19 budget 1.80 $ 430.00 $ 774.00 

Chepenik,Adam Brandon AC Partner/Principal 16-Apr-18 T3 - Long-Term Projections Review and comment on tax section of the draft fiscal plan. Send 

comments to S Negron (FOMB) and McKinsey team

 0.90 $ 845.00 $ 760.50 

Loh,Carmen Chng Wen CL Senior 16-Apr-18 T3 - Long-Term Projections Review proposed legislative text for tax policy changes from the 

Government related to fiscal plan projections

 1.70 $ 430.00 $ 731.00 

Yano,Brian BY Senior Manager 16-Apr-18 T3 - Long-Term Projections Review comments on COSSEC FP and budget 0.90 $ 701.00 $ 630.90 

Burr,Jeremy JB Senior 16-Apr-18 T3 - Long-Term Projections Participate in call with HFA S Panagiotakis (EY), J Burr (EY) to discuss 

FY19 budget forecast

 1.20 $ 430.00 $ 516.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 46 of 55
Exhibit C 47 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Yano,Brian BY Senior Manager 17-Apr-18 T3 - Long-Term Projections Analyze latest HTA projections 3.10 $ 701.00 $ 2,173.10 

Yano,Brian BY Senior Manager 17-Apr-18 T3 - Long-Term Projections Review latest PRASA projections 2.80 $ 701.00 $ 1,962.80 

Outlaw,Jessica R. JO Manager 17-Apr-18 T3 - CBA/Labor Agreements Prepare summary analysis on revised fiscal plan 2.90 $ 578.00 $ 1,676.20 

Burr,Jeremy JB Senior 17-Apr-18 T3 - Long-Term Projections Prepare summary table to discussion/agenda related to the independently 

forecasted Component Units meeting at AAFAF on 4/18 with Conway

 3.30 $ 430.00 $ 1,419.00 

Hymovitz Cardona,Pablo S CH Executive Director 17-Apr-18 T3 - Long-Term Projections Conference call with Francisco Pares from the PRTD's Internal Revenue 

Area regarding SUT tax rates in tax reform project; review draft tax 

amendments

 1.30 $ 788.00 $ 1,024.40 

Rodriguez-Ramos,Rosa M. RR Executive Director 17-Apr-18 T3 - Long-Term Projections Send follow up email to N Jaresko (FOMB) and A Chepenik (EY) on tax 

reform bill-with notes about key changes in filed bill from previous version.

 1.00 $ 788.00 $ 788.00 

Loh,Carmen Chng Wen CL Senior 17-Apr-18 T3 - Long-Term Projections Draft summary of proposed legislative text related to tax policy changes 

impacting fiscal plan projections for the FOMB

 1.80 $ 430.00 $ 774.00 

Burr,Jeremy JB Senior 17-Apr-18 T3 - Long-Term Projections Prepare for meeting at AAFAF to discuss FY19 budget item inclusions and 

component unit revenue gross up

 1.70 $ 430.00 $ 731.00 

Mullins,Daniel R DM Executive Director 17-Apr-18 T3 - Long-Term Projections Review mechanics and mechanisms of appropriations limits in the US 

states and assisting in development of slide for presentation to Board and 

Government of alternatives

 0.80 $ 788.00 $ 630.40 

Loh,Carmen Chng Wen CL Senior 17-Apr-18 T3 - Long-Term Projections Update key deliverables slides to reflect changes based on feedback from 

FOMB related to latest fiscal plan development 

 1.40 $ 430.00 $ 602.00 

Loh,Carmen Chng Wen CL Senior 17-Apr-18 T3 - Long-Term Projections Discussion with H Marquez (Deloitte) on proposed legislative text for tax 

policy changes impacting fiscal plan projections

 1.20 $ 430.00 $ 516.00 

Loh,Carmen Chng Wen CL Senior 17-Apr-18 T3 - Long-Term Projections Update summary with based on feedback from internal tax experts on latest 

legislative changes and impact on fiscal plan enforcement

 1.20 $ 430.00 $ 516.00 

Burr,Jeremy JB Senior 17-Apr-18 T3 - Long-Term Projections Review revenue items sent from ADEA to adjust milestone #3 revenue 

letter and prepare follow-up questions

 0.90 $ 430.00 $ 387.00 

Chepenik,Adam Brandon AC Partner/Principal 17-Apr-18 T3 - Long-Term Projections Draft and send comments on long-term tax reform proposal forecast and 

legislation to N Jaresko (FOMB) describing differences between fiscal plan 

and forecast from legislation as proposed

 0.40 $ 845.00 $ 338.00 

Aldana Herbas,Jose 

Alberto

HA Staff 17-Apr-18 T3 - Long-Term Projections Analyze PRASA's Fiscal Plan model as of April 15, 2018 1.30 $ 236.00 $ 306.80 

Mullins,Daniel R DM Executive Director 18-Apr-18 T3 - Long-Term Projections Continue to review of appropriations limits and assessment of role of 

financial controller in comparison to role of treasurer and budget officers in 

Puerto Rico for reporting and presentation to Board and Government.

 3.10 $ 788.00 $ 2,442.80 

Chepenik,Adam Brandon AC Partner/Principal 18-Apr-18 T3 - Long-Term Projections Read and provide line edit reviews on long-term fiscal plan draft report for 

publication.

 2.10 $ 845.00 $ 1,774.50 

Burr,Jeremy JB Senior 18-Apr-18 T3 - Long-Term Projections Update revenue letter appendices for the consolidated budget based on 

FOMB's fiscal plan

 3.90 $ 430.00 $ 1,677.00 

Outlaw,Jessica R. JO Manager 18-Apr-18 T3 - CBA/Labor Agreements Continue to edit summary analysis on revised fiscal plan based on feedback 

received 

 2.90 $ 578.00 $ 1,676.20 

Panagiotakis,Sofia SP Manager 18-Apr-18 T3 - Long-Term Projections Review the certified fiscal plan to understand the changes from the 4/5 plan 

and the impact on the revenue letter. 

 2.10 $ 578.00 $ 1,213.80 

Porepa,Jodi JP Senior Manager 18-Apr-18 T3 - Long-Term Projections Participate in meeting with R Wagstaff, B Biggio, J York (Conway), A 

Mendez (AAFAF), S Panagiotakis, J Porepa, J Burr (EY), S Rodriguez 

(FOMB) to discuss independently forecasted component units' FP forecast 

versus agency forecasts

 1.70 $ 701.00 $ 1,191.70 

Porepa,Jodi JP Senior Manager 18-Apr-18 T3 - Long-Term Projections Update presentation on milestones including key budget-related decisions 

and guidelines

 1.70 $ 701.00 $ 1,191.70 

Panagiotakis,Sofia SP Manager 18-Apr-18 T3 - Long-Term Projections Participate in meeting with R Wagstaff, B Biggio, J York (Conway), A 

Mendez (AAFAF), S Panagiotakis, J Porepa, J Burr (EY), S Rodriguez 

(FOMB) to discuss independently forecasted component units' FP forecast 

versus agency forecasts

 1.70 $ 578.00 $ 982.60 

Yano,Brian BY Senior Manager 18-Apr-18 T3 - Long-Term Projections Draft follow up list on HTA numbers 1.40 $ 701.00 $ 981.40 

Burr,Jeremy JB Senior 18-Apr-18 T3 - Long-Term Projections Update independently forecasted component unit revenue numbers with 

information gained with AAFAF/Conway

 2.10 $ 430.00 $ 903.00 

Burr,Jeremy JB Senior 18-Apr-18 T3 - Long-Term Projections Prepare agenda and questions for the 4/18 component unit discussion with 

AAFAF/Conway

 1.80 $ 430.00 $ 774.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 47 of 55
Exhibit C 48 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Burr,Jeremy JB Senior 18-Apr-18 T3 - Long-Term Projections Review FOMB Fiscal Plan (4/18) to prepare revenue letter 1.80 $ 430.00 $ 774.00 

Burr,Jeremy JB Senior 18-Apr-18 T3 - Long-Term Projections Participate in meeting with R Wagstaff, B Biggio, J York (Conway), A 

Mendez (AAFAF), S Panagiotakis, J Porepa, J Burr (EY), S Rodriguez 

(FOMB) to discuss independently forecasted component units' FP forecast 

versus agency forecasts

 1.70 $ 430.00 $ 731.00 

Loh,Carmen Chng Wen CL Senior 18-Apr-18 T3 - Long-Term Projections Revise budget enforcement language summary based on review with 

McKinsey on fiscal plan post-certification reporting related to the FY19 

budget resolution

 1.30 $ 430.00 $ 559.00 

Santambrogio,Juan JS Executive Director 18-Apr-18 T3 - Long-Term Projections Review draft Q&A for Board's fiscal plan submission 0.70 $ 788.00 $ 551.60 

Loh,Carmen Chng Wen CL Senior 18-Apr-18 T3 - Long-Term Projections Review PREPA latest FOMB Fiscal Plan on matters related to revenue 

forecasts and revisions 

 1.10 $ 430.00 $ 473.00 

Loh,Carmen Chng Wen CL Senior 18-Apr-18 T3 - Long-Term Projections Review updated fiscal plan post-certification reporting for PREPA, PRHTA 

and PRASA related to FY19 enforcement in the budget resolution

 0.90 $ 430.00 $ 387.00 

Aldana Herbas,Jose 

Alberto

HA Staff 18-Apr-18 T3 - Long-Term Projections Prepare FY19 revenue per Fiscal Plan to FY19 Budget bridge 1.50 $ 236.00 $ 354.00 

Porepa,Jodi JP Senior Manager 18-Apr-18 T3 - Long-Term Projections Participate in call with J. Porepa (EY), J. Burr (EY) and S. Panagiotakis 

(EY) to discuss the FOMB's final fiscal plan and the revisions to the 

revenue letter based on the FOMB's plan

 0.50 $ 701.00 $ 350.50 

Panagiotakis,Sofia SP Manager 18-Apr-18 T3 - Long-Term Projections Participate in call S Panagiotakis and J Burr (EY) to discuss agenda and 

outstanding questions for AAFAF/Conway related to independently 

forecasted component units

 0.60 $ 578.00 $ 346.80 

Loh,Carmen Chng Wen CL Senior 18-Apr-18 T3 - Long-Term Projections Update revenue bridge for PREPA between historical actuals and revised 

forecasts as indicated in the latest fiscal plan version

 0.80 $ 430.00 $ 344.00 

Aldana Herbas,Jose 

Alberto

HA Staff 18-Apr-18 T3 - Long-Term Projections Research states that have a structure similar to the Office of the CFO in the 

Commonwealth's Fiscal Plan

 1.30 $ 236.00 $ 306.80 

Panagiotakis,Sofia SP Manager 18-Apr-18 T3 - Long-Term Projections Participate in call with J. Porepa (EY), J. Burr (EY) and S. Panagiotakis 

(EY) to discuss the FOMB's final fiscal plan and the revisions to the 

revenue letter based on the FOMB's plan.

 0.50 $ 578.00 $ 289.00 

Burr,Jeremy JB Senior 18-Apr-18 T3 - Long-Term Projections Participate in call S Panagiotakis and J Burr (EY) to discuss agenda and 

outstanding questions for AAFAF/Conway related to independently 

forecasted component units

 0.60 $ 430.00 $ 258.00 

Loh,Carmen Chng Wen CL Senior 18-Apr-18 T3 - Long-Term Projections Review the Commonwealth's latest FOMB Fiscal Plan on matters related 

tax initiatives and corresponding payoffs

 0.50 $ 430.00 $ 215.00 

Burr,Jeremy JB Senior 18-Apr-18 T3 - Long-Term Projections Participate in call with J. Porepa (EY), J. Burr (EY) and S. Panagiotakis 

(EY) to discuss the FOMB's final fiscal plan and the revisions to the 

revenue letter based on the FOMB's plan.

 0.50 $ 430.00 $ 215.00 

Aldana Herbas,Jose 

Alberto

HA Staff 18-Apr-18 T3 - Long-Term Projections Update FY19 revenue per Fiscal Plan to FY19 Budget bridge based on 

team's feedback

 0.80 $ 236.00 $ 188.80 

Loh,Carmen Chng Wen CL Senior 18-Apr-18 T3 - Long-Term Projections Discussion with S Brady (McKinsey) regarding drivers for change in 

revenue between certified FY18 numbers vs. revised FY18 baseline

 0.40 $ 430.00 $ 172.00 

Loh,Carmen Chng Wen CL Senior 18-Apr-18 T3 - Long-Term Projections Update key deliverables slides to reflect latest information on related to 

latest fiscal plan published

 0.30 $ 430.00 $ 129.00 

Porepa,Jodi JP Senior Manager 19-Apr-18 T3 - Long-Term Projections Participate in pre meeting with board to prepare for public board meeting. 

Led by N Jaresko (FOMB). Joined by McKinsey, A Wolfe (FOMB), 

Board members, Citi, J Porepa (EY), A Chepenik (EY), and J Burr (EY)

 2.90 $ 701.00 $ 2,032.90 

Outlaw,Jessica R. JO Manager 19-Apr-18 T3 - CBA/Labor Agreements Review and update first part of fiscal plan again to make sure key points 

were incorporated properly

 2.70 $ 578.00 $ 1,560.60 

Santambrogio,Juan JS Executive Director 19-Apr-18 T3 - Long-Term Projections Review financial projections in fiscal plan to understand balancing of 

general funds and other funds

 1.80 $ 788.00 $ 1,418.40 

Chepenik,Adam Brandon AC Partner/Principal 19-Apr-18 T3 - Long-Term Projections Participate in public board meeting session on PREPA fiscal plan 

certification.

 1.30 $ 845.00 $ 1,098.50 

Burr,Jeremy JB Senior 19-Apr-18 T3 - Long-Term Projections Review fiscal plan revenue measures to adjust revenue line items for 

financial reporting purposes

 2.30 $ 430.00 $ 989.00 

Chepenik,Adam Brandon AC Partner/Principal 19-Apr-18 T3 - Long-Term Projections Participate in public board meeting on PRASA fiscal plan certification. 1.10 $ 845.00 $ 929.50 

Yano,Brian BY Senior Manager 19-Apr-18 T3 - Long-Term Projections Review of backup support for PREPA fiscal plan numbers provided by 

McKinsey

 1.30 $ 701.00 $ 911.30 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 48 of 55
Exhibit C 49 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Burr,Jeremy JB Senior 19-Apr-18 T3 - Long-Term Projections Provide detailed footnotes of all revenue adjustments from the fiscal plan to 

the FY19 revenue budget

 2.10 $ 430.00 $ 903.00 

Chepenik,Adam Brandon AC Partner/Principal 19-Apr-18 T3 - Long-Term Projections Participate in budgeting discussion with board members led by M Tullia 

(FOMB). Joined by McKinsey, A Wolfe (FOMB), Board members, Citi, J 

Porepa (EY) A Chepenik (EY) J Burr (EY) and N Jaresko (FOMB)

 1.00 $ 845.00 $ 845.00 

Burr,Jeremy JB Senior 19-Apr-18 T3 - Long-Term Projections Apply revenue measures for the slot machine excise tax through the 

Tourism waterfall to see impact to consolidated budget line items

 1.70 $ 430.00 $ 731.00 

Porepa,Jodi JP Senior Manager 19-Apr-18 T3 - Long-Term Projections Participate in budgeting discussion with board members led by M Tullia 

(FOMB). Joined by McKinsey, A Wolfe (FOMB), Board members, Citi, J 

Porepa (EY), A Chepenik (EY), J Burr (EY), and N Jaresko (FOMB)

 1.00 $ 701.00 $ 701.00 

Burr,Jeremy JB Senior 19-Apr-18 T3 - Long-Term Projections Meeting with J Burr (EY) and A Chepenik (EY) to review and reconcile 

fiscal plan to budget estimates for revenue letters on the budget.

 1.60 $ 430.00 $ 688.00 

Aldana Herbas,Jose 

Alberto

HA Staff 19-Apr-18 T3 - Long-Term Projections Analyze PRASA's certified Fiscal Plan dated April 19, 2018 2.70 $ 236.00 $ 637.20 

Loh,Carmen Chng Wen CL Senior 19-Apr-18 T3 - Long-Term Projections Review projections and updates to PREPA's Fiscal Plan as detailed by the 

FOMB

 1.30 $ 430.00 $ 559.00 

Loh,Carmen Chng Wen CL Senior 19-Apr-18 T3 - Long-Term Projections Update May and June workplans for the Commonwealth to reflect key 

deliverables related to the latest Fiscal Plan update

 1.30 $ 430.00 $ 559.00 

Chepenik,Adam Brandon AC Partner/Principal 19-Apr-18 T3 - Long-Term Projections Call with F Fornia (FOMB), S Panagiotakis (EY), and A Chepenik (EY) to 

discuss long-term pension gross up assumptions in the fiscal plan.

 0.60 $ 845.00 $ 507.00 

Burr,Jeremy JB Senior 19-Apr-18 T3 - Long-Term Projections Participate in budgeting discussion with board members led by M Tulla 

(FOMB). Joined by McKinsey, A Wolfe (FOMB), Board members, Citi, J 

Porepa (EY), A Chepenik (EY), J Burr (EY), and N Jaresko (FOMB)

 1.00 $ 430.00 $ 430.00 

Burr,Jeremy JB Senior 19-Apr-18 T3 - Long-Term Projections Apply revenue measures for the AirBnB excise tax through the Tourism 

waterfall to see impact to consolidated budget line items

 0.90 $ 430.00 $ 387.00 

Loh,Carmen Chng Wen CL Senior 19-Apr-18 T3 - Long-Term Projections Review tax policy change proposals in relation to adjustment for the Fiscal 

Plan measures for the FY19 revenue budget

 0.90 $ 430.00 $ 387.00 

Panagiotakis,Sofia SP Manager 19-Apr-18 T3 - Long-Term Projections Call with F Fornia (FOMB), S Panagiotakis (EY), and A Chepenik (EY) to 

discuss long-term pension gross up assumptions in the fiscal plan.

 0.60 $ 578.00 $ 346.80 

Loh,Carmen Chng Wen CL Senior 19-Apr-18 T3 - Long-Term Projections Update PREPA revenue forecast letter based on latest projections as 

reflected in the FOMB Fiscal Plan

 0.80 $ 430.00 $ 344.00 

Loh,Carmen Chng Wen CL Senior 19-Apr-18 T3 - Long-Term Projections Update May and June workplans for instrumentalities to reflect key 

deliverables related to the latest Fiscal Plan update

 0.80 $ 430.00 $ 344.00 

Chepenik,Adam Brandon AC Partner/Principal 19-Apr-18 T3 - Long-Term Projections Review and prepare N Jaresko (FOMB) comments on budget enforcement 

from fiscal plan for public board meeting on fiscal plan certification.

 0.40 $ 845.00 $ 338.00 

Burr,Jeremy JB Senior 19-Apr-18 T3 - Long-Term Projections Update the revenue letter appendices to adjust for new PayGo revenue 

entering the TSA

 0.70 $ 430.00 $ 301.00 

Yano,Brian BY Senior Manager 19-Apr-18 T3 - Long-Term Projections Develop correspondence to McKinsey and FOMB staff to address 

variances in numbers provided by McKinsey to the numbers in the certified 

fiscal plan made public on 4/18

 0.40 $ 701.00 $ 280.40 

Aldana Herbas,Jose 

Alberto

HA Staff 19-Apr-18 T3 - Long-Term Projections Prepare final version of PRASA's historical revenue analysis slide 

incorporating certified Fiscal Plan numbers

 1.10 $ 236.00 $ 259.60 

Chepenik,Adam Brandon AC Partner/Principal 19-Apr-18 T3 - Long-Term Projections Call with A Mendez (AAFAF) to discuss slot machine revenue forecast 

assumption and how that translates from the fiscal plan to the budget 

estimates.

 0.30 $ 845.00 $ 253.50 

Burr,Jeremy JB Senior 19-Apr-18 T3 - Long-Term Projections Review information regarding PayGo payments flowing into the TSA from 

corporations related to the Commonwealth

 0.40 $ 430.00 $ 172.00 

Burr,Jeremy JB Senior 19-Apr-18 T3 - Long-Term Projections Discussion revenue measures impact to FY19 budget with J Reed (Mck), D 

Odum (Mck), P Bailison (McK), S O'Rourke (McK)

 0.40 $ 430.00 $ 172.00 

Aldana Herbas,Jose 

Alberto

HA Staff 19-Apr-18 T3 - Long-Term Projections Analyze impact of gaming tax on the revenues of the Commonwealth, as 

outlined in the certified Fiscal Plan

 0.70 $ 236.00 $ 165.20 

Chepenik,Adam Brandon AC Partner/Principal 20-Apr-18 T3 - Long-Term Projections Participate in UPR, HTA, GDB, and COSSEC fiscal plan certification 

public meeting with J Porepa (EY), C Loh (EY), and J Burr (EY).

 3.20 $ 845.00 $ 2,704.00 

Burr,Jeremy JB Senior 20-Apr-18 T3 - Long-Term Projections Participate in UPR, HTA, GDB, and COSSEC fiscal plan certification 

public meeting with J Porepa (EY), C Loh (EY), and J Burr (EY).

 3.20 $ 430.00 $ 1,376.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 49 of 55
Exhibit C 50 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Loh,Carmen Chng Wen CL Senior 20-Apr-18 T3 - Long-Term Projections Participate in UPR, HTA, GDB, and COSSEC fiscal plan certification 

public meeting with J Porepa (EY), C Loh (EY), and J Burr (EY).

 3.20 $ 430.00 $ 1,376.00 

Chepenik,Adam Brandon AC Partner/Principal 20-Apr-18 T3 - Long-Term Projections Edit and finalize draft revenue letter, including reconciliation validations. 1.30 $ 845.00 $ 1,098.50 

Burr,Jeremy JB Senior 20-Apr-18 T3 - Long-Term Projections Update final appendices for the revenue letter to include all footnotes and 

measure adjustments (by line item)

 2.40 $ 430.00 $ 1,032.00 

Burr,Jeremy JB Senior 20-Apr-18 T3 - Long-Term Projections Update final footnotes for the planned adjustments from the FP to the FY19 

budget revenue letter

 2.10 $ 430.00 $ 903.00 

Aldana Herbas,Jose 

Alberto

HA Staff 20-Apr-18 T3 - Long-Term Projections Conduct preliminary analysis of certified Fiscal Plan for COSSEC, UPR, 

GDB and HTA

 2.80 $ 236.00 $ 660.80 

Loh,Carmen Chng Wen CL Senior 20-Apr-18 T3 - Long-Term Projections Update PREPA revenue bridge based on discussions with McKinsey on 

relevant projections based on the FOMB's certified fiscal plan

 1.20 $ 430.00 $ 516.00 

Yano,Brian BY Senior Manager 20-Apr-18 T3 - Long-Term Projections Discussion with S Brady, A Bielenberg (McKinsey) and E Arroyo (FOMB) 

to address variances in PREPA revenue numbers between the budget 

numbers and FOMB fiscal plan public version.

 0.30 $ 701.00 $ 210.30 

Panagiotakis,Sofia SP Manager 20-Apr-18 T3 - Long-Term Projections Call with S Panagiotakis (EY) and J Burr (EY) to discuss disclosure 

requirements of revenue letter adjustments

 0.30 $ 578.00 $ 173.40 

Burr,Jeremy JB Senior 20-Apr-18 T3 - Long-Term Projections Call with S Panagiotakis (EY) and J Burr (EY) to discuss disclosure 

requirements of revenue letter adjustments

 0.30 $ 430.00 $ 129.00 

Burr,Jeremy JB Senior 20-Apr-18 T3 - Long-Term Projections Discussion with J Reed (McK), S O'Rourke (McK), P Bailison (McK) and J 

Burr (EY) to discuss slot machine fee measures, marijuana excise tax 

measures AirBnB excise tax measures

 0.30 $ 430.00 $ 129.00 

Burr,Jeremy JB Senior 21-Apr-18 T3 - Long-Term Projections Review gaming fee measure laws to determine impact to FY19 budget and 

update the revenue letter

 2.20 $ 430.00 $ 946.00 

Outlaw,Jessica R. JO Manager 22-Apr-18 T3 - CBA/Labor Agreements Finalize review of labor plan presentation for FOMB consideration 1.60 $ 578.00 $ 924.80 

Outlaw,Jessica R. JO Manager 23-Apr-18 T3 - CBA/Labor Agreements Prepare labor work plan presentation 2.90 $ 578.00 $ 1,676.20 

Mackie,James JM Executive Director 23-Apr-18 T3 - Long-Term Projections Analyze a US Senate Bill that would provide a tax credit for US branches in 

PR and relief from GILTI for US CFCs in PR

 1.90 $ 788.00 $ 1,497.20 

Outlaw,Jessica R. JO Manager 23-Apr-18 T3 - CBA/Labor Agreements Go over edits and proposed conclusions and analysis on revised fiscal plan 2.20 $ 578.00 $ 1,271.60 

Burr,Jeremy JB Senior 23-Apr-18 T3 - Long-Term Projections Review the fiscal plan for new the measures to prepare for the agency 

mapping of expense measures

 2.70 $ 430.00 $ 1,161.00 

Chepenik,Adam Brandon AC Partner/Principal 23-Apr-18 T3 - Long-Term Projections Review and type of long-term forecast impact from tax legislation. 1.20 $ 845.00 $ 1,014.00 

Santambrogio,Juan JS Executive Director 23-Apr-18 T3 - Long-Term Projections Review potential errors in fiscal plan identified by creditor advisor 0.90 $ 788.00 $ 709.20 

Outlaw,Jessica R. JO Manager 23-Apr-18 T3 - Long-Term Projections Prepare Milestone 2 Revenue Slides for the General Fund 1.10 $ 578.00 $ 635.80 

Burr,Jeremy JB Senior 23-Apr-18 T3 - Long-Term Projections Review Fiscal Plan write up for details on the revenue measures for 

marijuana excise tax and the Airbnb tax

 1.40 $ 430.00 $ 602.00 

Porepa,Jodi JP Senior Manager 23-Apr-18 T3 - Long-Term Projections Call with E Trigo (O'Neill), J Porepa (EY), S Panagiotakis (EY), J Burr 

(EY) to discuss claw back revenue, COFINA, new marijuana excise tax and 

new Airbnb tax 

 0.80 $ 701.00 $ 560.80 

Santambrogio,Juan JS Executive Director 23-Apr-18 T3 - CBA/Labor Agreements Make changes to labor presentation to be discussed with advisor group 0.70 $ 788.00 $ 551.60 

Yano,Brian BY Senior Manager 23-Apr-18 T3 - Long-Term Projections Provide feedback to address variances between public fiscal plan for 

PREPA and budget numbers

 0.70 $ 701.00 $ 490.70 

Panagiotakis,Sofia SP Manager 23-Apr-18 T3 - Long-Term Projections Call with E Trigo (O'Neill), J Porepa (EY), S Panagiotakis (EY), J Burr 

(EY) to discuss claw back revenue, COFINA, new marijuana exicse tax and 

new Airbnb tax 

 0.80 $ 578.00 $ 462.40 

Aldana Herbas,Jose 

Alberto

HA Staff 23-Apr-18 T3 - Long-Term Projections Review UPR Fiscal Plan model (v10) 1.90 $ 236.00 $ 448.40 

Chepenik,Adam Brandon AC Partner/Principal 23-Apr-18 T3 - CBA/Labor Agreements Discuss labor and CBA review workstream with J Outlaw (EY), J 

Santambrogio (EY), and A Chepenik (EY).

 0.50 $ 845.00 $ 422.50 

Outlaw,Jessica R. JO Manager 23-Apr-18 T3 - CBA/Labor Agreements Incorporate subsequent edits to labor plan presentation received 0.70 $ 578.00 $ 404.60 

Santambrogio,Juan JS Executive Director 23-Apr-18 T3 - CBA/Labor Agreements Discuss labor and CBA review workstream with J Outlaw (EY), J 

Santambrogio (EY), and A Chepenik (EY).

 0.50 $ 788.00 $ 394.00 

Burr,Jeremy JB Senior 23-Apr-18 T3 - Long-Term Projections Call with E Trigo (O'Neill), J Porepa (EY), S Panagiotakis (EY), J Burr 

(EY) to discuss claw back revenue, COFINA, new marijuana excise tax and 

new Airbnb tax 

 0.80 $ 430.00 $ 344.00 

Chepenik,Adam Brandon AC Partner/Principal 23-Apr-18 T3 - Long-Term Projections Participate in call with B. Maciejewski (EY) and A Chepenik (EY) to 

discuss long-term workstreams and analysis.

 0.40 $ 845.00 $ 338.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 50 of 55
Exhibit C 51 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Aldana Herbas,Jose 

Alberto

HA Staff 23-Apr-18 T3 - Long-Term Projections Summarize variances between the UPR Fiscal Plan model and 

Commonwealth Fiscal Plan model that indicate need for updates to the 

models

 1.40 $ 236.00 $ 330.40 

Outlaw,Jessica R. JO Manager 23-Apr-18 T3 - CBA/Labor Agreements Discuss labor and CBA review workstream with J Outlaw (EY), J 

Santambrogio (EY), and A Chepenik (EY).

 0.50 $ 578.00 $ 289.00 

Maciejewski,Brigid Jean BM Manager 23-Apr-18 T3 - Long-Term Projections Participate in call with B. Maciejewski (EY) and A Chepenik (EY) to 

discuss long-term workstreams and analysis.

 0.40 $ 578.00 $ 231.20 

Yano,Brian BY Senior Manager 23-Apr-18 T3 - Long-Term Projections Review email from creditor inquiring as to why certain CW fiscal plan 

numbers have variances.

 0.20 $ 701.00 $ 140.20 

Yano,Brian BY Senior Manager 24-Apr-18 T3 - Long-Term Projections Review HTA fiscal plan 2.80 $ 701.00 $ 1,962.80 

Outlaw,Jessica R. JO Manager 24-Apr-18 T3 - CBA/Labor Agreements Evaluate role of fiscal plan on CBA agreements 2.20 $ 578.00 $ 1,271.60 

Chepenik,Adam Brandon AC Partner/Principal 24-Apr-18 T3 - Long-Term Projections Catch up meeting to discuss progress on fiscal plan estimates and path 

forward with G Malhotra (EY), J Santambrogio (EY), A Chepenik (EY), 

and K Hiteshew (EY).

 1.40 $ 845.00 $ 1,183.00 

Malhotra,Gaurav GM Partner/Principal 24-Apr-18 T3 - Long-Term Projections Catch up meeting to discuss progress on fiscal plan estimates and path 

forward with G Malhotra (EY), J Santambrogio (EY), A Chepenik (EY), 

and K Hiteshew (EY)

 1.40 $ 845.00 $ 1,183.00 

Santambrogio,Juan JS Executive Director 24-Apr-18 T3 - Long-Term Projections Catch up meeting to discuss progress on fiscal plan estimates and path 

forward with G Malhotra (EY), J Santambrogio (EY), A Chepenik (EY), 

and K Hiteshew (EY).

 1.40 $ 788.00 $ 1,103.20 

Chepenik,Adam Brandon AC Partner/Principal 24-Apr-18 T3 - Long-Term Projections Meeting with G Malhotra (EY), J Santambrogio (EY), and A Chepenik 

(EY) to discuss long-term forecasting workstream.

 1.00 $ 845.00 $ 845.00 

Malhotra,Gaurav GM Partner/Principal 24-Apr-18 T3 - Long-Term Projections Meeting with G Malhotra (EY), J Santambrogio (EY), and A Chepenik 

(EY) to discuss long-term forecasting workstream.

 1.00 $ 845.00 $ 845.00 

Santambrogio,Juan JS Executive Director 24-Apr-18 T3 - Long-Term Projections Meeting with G Malhotra (EY), J Santambrogio (EY), and A Chepenik 

(EY) to discuss long-term forecasting workstream.

 1.00 $ 788.00 $ 788.00 

Chepenik,Adam Brandon AC Partner/Principal 24-Apr-18 T3 - Long-Term Projections Update, finalize and transmit view on long-term tax forecast impact to N 

Jaresko (FOMB).

 0.90 $ 845.00 $ 760.50 

Chepenik,Adam Brandon AC Partner/Principal 24-Apr-18 T3 - Long-Term Projections Call with E Trigo (O'Neill), J Burr (EY), M Tulla (EY), and A Chepenik 

(EY) to discuss clawback and moratorium revenue treatment.

 0.80 $ 845.00 $ 676.00 

Aldana Herbas,Jose 

Alberto

HA Staff 24-Apr-18 T3 - Long-Term Projections Review UPR Fiscal Plan model (v11) to ensure that variances with the 

Commonwealth Fiscal Plan model were adjusted

 2.10 $ 236.00 $ 495.60 

Burr,Jeremy JB Senior 24-Apr-18 T3 - Long-Term Projections Participate in call with E Trigo (O'Neill) to discuss laws behind the current 

revenue measures and presentation of revenues subject to the moratorium

 0.90 $ 430.00 $ 387.00 

Panagiotakis,Sofia SP Manager 24-Apr-18 T3 - Long-Term Projections Review the fiscal plan to understand the changes to ASES and review 

moratorium related revenue

 0.60 $ 578.00 $ 346.80 

Burr,Jeremy JB Senior 24-Apr-18 T3 - Long-Term Projections Call with E Trigo (O'Neill), J Burr (EY), M Tulla (EY), and A Chepenik 

(EY) to discuss claw back and moratorium revenue treatment.

 0.80 $ 430.00 $ 344.00 

Chepenik,Adam Brandon AC Partner/Principal 24-Apr-18 T3 - Long-Term Projections Call with S Oroarke (McKinsey), J Reed (McKinsey), F Fornia (FOMB) to 

discuss pension flows and asset sale projections.

 0.40 $ 845.00 $ 338.00 

Outlaw,Jessica R. JO Manager 25-Apr-18 T3 - CBA/Labor Agreements Review of CBAs and documents provided by O'Neill and Borges 3.20 $ 578.00 $ 1,849.60 

Burr,Jeremy JB Senior 25-Apr-18 T3 - Long-Term Projections Prepare analysis of the implied expenses for FY19 by agency according to 

the Fiscal Plan

 3.30 $ 430.00 $ 1,419.00 

Burr,Jeremy JB Senior 25-Apr-18 T3 - Long-Term Projections Prepare summary expense measures' template for a discussion with 

McKinsey on how to map the measures by agencies

 2.40 $ 430.00 $ 1,032.00 

Outlaw,Jessica R. JO Manager 25-Apr-18 T3 - CBA/Labor Agreements Prepare for labor work plan discussion with J Santambrogio (EY), and A 

Chepenik (EY).

 1.30 $ 578.00 $ 751.40 

Aldana Herbas,Jose 

Alberto

HA Staff 25-Apr-18 T3 - Long-Term Projections Revise FY19 revenue per Fiscal Plan to FY19 budget reconciliation for 

Commonwealth

 2.90 $ 236.00 $ 684.40 

Outlaw,Jessica R. JO Manager 25-Apr-18 T3 - CBA/Labor Agreements Continue to evaluate role of fiscal plan on CBA agreements 1.10 $ 578.00 $ 635.80 

Porepa,Jodi JP Senior Manager 25-Apr-18 T3 - Long-Term Projections Participate in call with S O'Rourke (McKinsey), O Shah (McKinsey), P 

Bailinson (McKinsey), J Reed (McKinsey), J Porepa (EY), S Panagiotakis 

(EY), J Burr (EY) to discuss the agency expectations of expense measures

 0.80 $ 701.00 $ 560.80 

Panagiotakis,Sofia SP Manager 25-Apr-18 T3 - Long-Term Projections Update the presentation on revenue with updated reconciliations of budget 

to the fiscal plan.

 0.90 $ 578.00 $ 520.20 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 51 of 55
Exhibit C 52 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Panagiotakis,Sofia SP Manager 25-Apr-18 T3 - Long-Term Projections Participate in call with S O'Rourke (McKinsey), O Shah (McKinsey), P 

Bailinson (McKinsey), J Reed (McKinsey), J Porepa (EY), S Panagiotakis 

(EY), J Burr (EY) to discuss the agency expectations of expense measures

 0.80 $ 578.00 $ 462.40 

Panagiotakis,Sofia SP Manager 25-Apr-18 T3 - Long-Term Projections Review the tax incentives impact to each line item in the general fund and 

outside the general fund to the fiscal plan document to determine if any 

changes are needed to the revenue letter

 0.70 $ 578.00 $ 404.60 

Burr,Jeremy JB Senior 25-Apr-18 T3 - Long-Term Projections Participate in call with S O'Rourke (McKinsey), O Shah (McKinsey), P 

Bailinson (McKinsey), J Reed (McKinsey), J Porepa (EY), S Panagiotakis 

(EY), J Burr (EY) to discuss the agency expectations of expense measures

 0.80 $ 430.00 $ 344.00 

Panagiotakis,Sofia SP Manager 25-Apr-18 T3 - Long-Term Projections Participate in call with S. Rodriguez (FOMB) to discuss the reconciliation 

of the Board's fiscal plan to the government's.

 0.30 $ 578.00 $ 173.40 

Outlaw,Jessica R. JO Manager 26-Apr-18 T3 - CBA/Labor Agreements Continue review of CBAs and documents provided by O'Neill and Borges 3.40 $ 578.00 $ 1,965.20 

Burr,Jeremy JB Senior 26-Apr-18 T3 - Long-Term Projections Prepare internal summary analysis comparing the FOMB FP to the Gov't 

FP in order to gauge Gov't deliverable expectations going forward and 

highlight the key variances between the plans

 2.40 $ 430.00 $ 1,032.00 

Burr,Jeremy JB Senior 26-Apr-18 T3 - Long-Term Projections Review the rightsizing model from the Gov't and FOMB group discussions 

to analyze budget impacts for FY19

 1.90 $ 430.00 $ 817.00 

Malhotra,Gaurav GM Partner/Principal 26-Apr-18 T3 - Long-Term Projections Review Long-Term Projections. 0.90 $ 845.00 $ 760.50 

Chepenik,Adam Brandon AC Partner/Principal 26-Apr-18 T3 - CBA/Labor Agreements Call with J Laurance (EY), M Poland (EY), D GIlbertson (EY), J 

Santambrogio (EY), and A Chepenik (EY) to discuss CBA workstream and 

initial efforts and focus of the work.

 0.60 $ 845.00 $ 507.00 

Santambrogio,Juan JS Executive Director 26-Apr-18 T3 - CBA/Labor Agreements Call with J Laurance (EY), M Poland (EY), D GIlbertson (EY), J 

Santambrogio (EY), and A Chepenik (EY) to discuss CBA workstream and 

initial efforts and focus of the work.

 0.60 $ 788.00 $ 472.80 

Mullins,Daniel R DM Executive Director 26-Apr-18 T3 - Long-Term Projections Procedures for instilling fiscal discipline in public sector agencies. 0.60 $ 788.00 $ 472.80 

Chepenik,Adam Brandon AC Partner/Principal 26-Apr-18 T3 - CBA/Labor Agreements Call with A Chepenik (EY), J Outlaw (EY), J Santambrogio (EY), and S 

Hurtado (EY) to discuss approach and deliverables to initial CBA 

workstreams over the next few weeks.

 0.40 $ 845.00 $ 338.00 

Chepenik,Adam Brandon AC Partner/Principal 26-Apr-18 T3 - Long-Term Projections Review and share with K Hiteshew (EY) draft of ERS treatment 

considerations as part of forecast.

 0.40 $ 845.00 $ 338.00 

Santambrogio,Juan JS Executive Director 26-Apr-18 T3 - CBA/Labor Agreements Call with A Chepenik (EY), J Outlaw (EY), J Santambrogio (EY), and S 

Hurtado (EY) to discuss approach and deliverables to initial CBA 

workstreams over the next few weeks

 0.40 $ 788.00 $ 315.20 

Chepenik,Adam Brandon AC Partner/Principal 26-Apr-18 T3 - Long-Term Projections Call with J Burr (EY) and A Chepenik (EY) to discuss 911 operations fee 

diversions.

 0.30 $ 845.00 $ 253.50 

Outlaw,Jessica R. JO Manager 26-Apr-18 T3 - CBA/Labor Agreements Call with A Chepenik (EY), J Outlaw (EY), J Santambrogio (EY), and S 

Hurtado (EY) to discuss approach and deliverables to initial CBA 

workstreams over the next few weeks.

 0.40 $ 578.00 $ 231.20 

Hurtado,Sergio SH Senior 26-Apr-18 T3 - CBA/Labor Agreements Call with A Chepenik (EY), J Outlaw (EY), J Santambrogio (EY), and S 

Hurtado (EY) to discuss approach and deliverables to initial CBA 

workstreams over the next few weeks.

 0.40 $ 430.00 $ 172.00 

Burr,Jeremy JB Senior 26-Apr-18 T3 - Long-Term Projections Call with J Burr (EY) and A Chepenik (EY) to discuss 911 operations fee 

diversions.

 0.30 $ 430.00 $ 129.00 

Yano,Brian BY Senior Manager 27-Apr-18 T3 - Long-Term Projections Analyze HTA fiscal plan numbers and backup excel file and variances 

between numbers due to timing

 3.30 $ 701.00 $ 2,313.30 

Outlaw,Jessica R. JO Manager 27-Apr-18 T3 - CBA/Labor Agreements Summarize key finding and elements of CBAs and documents provided by 

O'Neill and Borges

 2.70 $ 578.00 $ 1,560.60 

Outlaw,Jessica R. JO Manager 27-Apr-18 T3 - Long-Term Projections Review of revised fiscal plan 2.20 $ 578.00 $ 1,271.60 

Mullins,Daniel R DM Executive Director 27-Apr-18 T3 - Long-Term Projections Additional review of measures for inducing fiscal discipline 1.40 $ 788.00 $ 1,103.20 

Panagiotakis,Sofia SP Manager 27-Apr-18 T3 - Long-Term Projections Compare the government's tax incentives to the FOMB's plan to understand 

variances.

 1.90 $ 578.00 $ 1,098.20 

Panagiotakis,Sofia SP Manager 27-Apr-18 T3 - Long-Term Projections Review the fiscal plan to understand labor reform and various other 

reinvestment and how this impacts the budget.

 1.80 $ 578.00 $ 1,040.40 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 52 of 55
Exhibit C 53 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Chepenik,Adam Brandon AC Partner/Principal 27-Apr-18 T3 - CBA/Labor Agreements Participate in CBA/labor working group discussion with J Outlaw (EY), A 

Chepenik (EY), J Santambrogio (EY), S Hurtado (EY), C George (O'Neill), 

and J Capo-Matos (O'Neill) to discuss CBA agreements and union lists.

 1.10 $ 845.00 $ 929.50 

Santambrogio,Juan JS Executive Director 27-Apr-18 T3 - CBA/Labor Agreements Participate in CBA/labor working group discussion with J Outlaw (EY), A 

Chepenik (EY), J Santambrogio (EY), S Hurtado (EY), C George (O'Neill), 

and J Capo-Matos (O'Neill) to discuss CBA agreements and union lists.

 1.10 $ 788.00 $ 866.80 

Burr,Jeremy JB Senior 27-Apr-18 T3 - Long-Term Projections Prepare updated bridge analysis from the FP to the revenue budget to 

support FOMB presentation

 1.80 $ 430.00 $ 774.00 

Aldana Herbas,Jose 

Alberto

HA Staff 27-Apr-18 T3 - Long-Term Projections Develop exhibits indicating variances between HTA Fiscal Plan model and 

Commonwealth Fiscal Plan model

 3.10 $ 236.00 $ 731.60 

Burr,Jeremy JB Senior 27-Apr-18 T3 - Long-Term Projections Prepare considerations for the FOMB presentation/guidance letter for 

implications if the Government Budget is not in compliance with in the FP

 1.70 $ 430.00 $ 731.00 

Outlaw,Jessica R. JO Manager 27-Apr-18 T3 - CBA/Labor Agreements Participate in CBA/labor working group discussion with J Outlaw (EY), A 

Chepenik (EY), J Santambrogio (EY), S Hurtado (EY), C George (O'Neill), 

and J Capo-Matos (O'Neill) to discuss CBA agreements and union lists.

 1.10 $ 578.00 $ 635.80 

Aldana Herbas,Jose 

Alberto

HA Staff 27-Apr-18 T3 - Long-Term Projections Review HTA Fiscal Plan model 2.20 $ 236.00 $ 519.20 

Hurtado,Sergio SH Senior 27-Apr-18 T3 - CBA/Labor Agreements Participate in CBA/labor working group discussion with J Outlaw (EY), A 

Chepenik (EY), J Santambrogio (EY), S Hurtado (EY), C George (O'Neill), 

and J Capo-Matos (O'Neill) to discuss CBA agreements and union lists.

 1.10 $ 430.00 $ 473.00 

Aldana Herbas,Jose 

Alberto

HA Staff 27-Apr-18 T3 - Long-Term Projections Compare HTA Fiscal Plan model to Commonwealth Fiscal Plan model 1.90 $ 236.00 $ 448.40 

Panagiotakis,Sofia SP Manager 27-Apr-18 T3 - Long-Term Projections Call with J York (Conway), S Panagiotakis (EY), J Burr (EY) to discuss 

allocation of tax reform measures (new credits and offsets)

 0.60 $ 578.00 $ 346.80 

Aldana Herbas,Jose 

Alberto

HA Staff 27-Apr-18 T3 - Long-Term Projections Summarize variances between HTA Fiscal Plan model and Commonwealth 

Fiscal Plan model, impact on HTA's projected revenues, and necessary 

adjustments

 1.20 $ 236.00 $ 283.20 

Burr,Jeremy JB Senior 27-Apr-18 T3 - Long-Term Projections Call with J York (Conway), S Panagiotakis (EY), J Burr (EY) to discuss 

allocation of tax reform measures (new credits and offsets)

 0.60 $ 430.00 $ 258.00 

Chepenik,Adam Brandon AC Partner/Principal 27-Apr-18 T3 - Long-Term Projections Participate in weekly board / AAFAF working group discussion. Joined by 

J Porepa (EY), J Burr (EY), J Santambrogio (EY), A Chepenik (EY), S 

Rodriguez (FOMB).

 0.30 $ 845.00 $ 253.50 

Santambrogio,Juan JS Executive Director 27-Apr-18 T3 - Long-Term Projections Participate in weekly board / AAFAF working group discussion. Joined by 

J Porepa (EY), J Burr (EY), J Santambrogio (EY), A Chepenik (EY), S 

Rodriguez (FOMB)

 0.30 $ 788.00 $ 236.40 

Porepa,Jodi JP Senior Manager 27-Apr-18 T3 - Long-Term Projections Participate in weekly board / AAFAF working group discussion. Joined by 

J Porepa (EY), J Burr (EY), J Santambrogio (EY), A Chepenik (EY), S 

Rodriguez (FOMB).

 0.30 $ 701.00 $ 210.30 

Burr,Jeremy JB Senior 27-Apr-18 T3 - Long-Term Projections Participate in weekly board / AAFAF working group discussion. Joined by 

J Porepa (EY), J Burr (EY), J Santambrogio (EY), A Chepenik (EY), S 

Rodriguez (FOMB).

 0.30 $ 430.00 $ 129.00 

Panagiotakis,Sofia SP Manager 28-Apr-18 T3 - Long-Term Projections Review measures information provided by the McKinsey to understand 

impact to each agency and discuss how this maps back to the fiscal plan.

 1.80 $ 578.00 $ 1,040.40 

Burr,Jeremy JB Senior 28-Apr-18 T3 - Long-Term Projections Review rightsizing analysis prepared by McKinsey for consistency with the 

Fiscal Plan and to prepare appendix for revenue supplement letter

 1.70 $ 430.00 $ 731.00 

Burr,Jeremy JB Senior 28-Apr-18 T3 - Long-Term Projections Prepare summary analysis and mapping to the Fiscal Plan of the measures 

provided by McKinsey by agency

 1.60 $ 430.00 $ 688.00 

Burr,Jeremy JB Senior 28-Apr-18 T3 - Long-Term Projections Prepare follow-up questions for McKinsey on rightsizing model 0.70 $ 430.00 $ 301.00 

Burr,Jeremy JB Senior 28-Apr-18 T3 - Long-Term Projections Call with P Bailinson (McKinsey) to discuss rightsizing measures by 

agency 

 0.40 $ 430.00 $ 172.00 

Burr,Jeremy JB Senior 29-Apr-18 T3 - Long-Term Projections Review rightsizing response from McKinsey and update the rightsizing 

appendix for the guidance letter

 1.40 $ 430.00 $ 602.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 53 of 55
Exhibit C 54 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Outlaw,Jessica R. JO Manager 30-Apr-18 T3 - CBA/Labor Agreements Review of labor master schedule 2.80 $ 578.00 $ 1,618.40 

Outlaw,Jessica R. JO Manager 30-Apr-18 T3 - CBA/Labor Agreements Continue to summarize key finding and elements of CBAs and documents 

provided by O'Neill and Borges

 2.40 $ 578.00 $ 1,387.20 

Hurtado,Sergio SH Senior 30-Apr-18 T3 - CBA/Labor Agreements Review of Law 26 and amended terms to benefits 2.80 $ 430.00 $ 1,204.00 

Hurtado,Sergio SH Senior 30-Apr-18 T3 - CBA/Labor Agreements Prepare template for CBA analysis and review of received documents 2.50 $ 430.00 $ 1,075.00 

Burr,Jeremy JB Senior 30-Apr-18 T3 - Long-Term Projections Prepare summary analysis to compare reduction of rightsizing using a 

payroll and non-personnel measure for FY18 budget to FY19 budget as 

shown in the FP - analysis supports guidance letter

 2.40 $ 430.00 $ 1,032.00 

Burr,Jeremy JB Senior 30-Apr-18 T3 - Long-Term Projections Prepare summary analysis of the baseline for each agency used in the 

rightsizing analysis to include in the guidance letter

 2.30 $ 430.00 $ 989.00 

Chepenik,Adam Brandon AC Partner/Principal 30-Apr-18 T3 - Long-Term Projections Participate in call with S O'Rourke (McKinsey), O Shah (McKinsey), M 

Tulla (FOMB), T Duvall (McKinsey), A Bielenberg (McKinsey), J Reed 

(McKinsey), D Udom (McKinsey), J Davis (McKinsey), S Negron 

(FOMB), K Rifkind (FOMB), A Chepenik (EY), J Santambrogio (EY), S 

Panagiotakis (EY), J Burr (EY), C Loh (EY) to discuss mapping fiscal plan 

measures to the budget

 1.10 $ 845.00 $ 929.50 

Santambrogio,Juan JS Executive Director 30-Apr-18 T3 - Long-Term Projections Participate in call with S O'Rourke (McKinsey), O Shah (McKinsey), M 

Tulla (FOMB), T Duvall (McKinsey), A Bielenberg (McKinsey), J Reed 

(McKinsey), D Udom (McKinsey), J Davis (McKinsey), S Negron 

(FOMB), K Rifkind (FOMB), A Chepenik (EY), J Santambrogio (EY), S 

Panagiotakis (EY), J Burr (EY), C Loh (EY) to discuss mapping fiscal plan 

measures to the budget

 1.10 $ 788.00 $ 866.80 

Porepa,Jodi JP Senior Manager 30-Apr-18 T3 - Long-Term Projections Analyze initial expense measure mapping provided 1.20 $ 701.00 $ 841.20 

Burr,Jeremy JB Senior 30-Apr-18 T3 - Long-Term Projections Review Government's expense measure guidance and compare to the 

guidance provided by McKinsey for differences and discussion purposes

 1.80 $ 430.00 $ 774.00 

Loh,Carmen Chng Wen CL Senior 30-Apr-18 T3 - Long-Term Projections Prepare reconciliation for credits/grants included in the tax reform package 

and other incentives that were reshuffled

 1.80 $ 430.00 $ 774.00 

Panagiotakis,Sofia SP Manager 30-Apr-18 T3 - Long-Term Projections Participate in call with S O'Rourke (McKinsey), O Shah (McKinsey), M 

Tulla (FOMB), T Duvall (McKinsey), A Bielenberg (McKinsey), J Reed 

(McKinsey), D Udom (McKinsey), J Davis (McKinsey), S Negron 

(FOMB), K Rifkind (FOMB), A Chepenik (EY), J Santambrogio (EY), S 

Panagiotakis (EY), J Burr (EY), C Loh (EY) to discuss mapping fiscal plan 

measures to the budget

 1.10 $ 578.00 $ 635.80 

Panagiotakis,Sofia SP Manager 30-Apr-18 T3 - Long-Term Projections Review the fiscal plan to understand the details of the tax incentives and 

subsidies in the certified fiscal plan compared to the change requested by 

the government 

 1.10 $ 578.00 $ 635.80 

Pavlenco,Robert J RP Manager 30-Apr-18 T3 - CBA/Labor Agreements Review and analyze memoranda prepared by O'Neill on (1) UPR's and 

PREPA's CBAs vs Law 26 and (2) PREPA's vacation and sick leaves 

pursuant to Law 180, CBAs, and Law 26

 1.10 $ 578.00 $ 635.80 

Yano,Brian BY Senior Manager 30-Apr-18 T3 - Long-Term Projections Review comments on HTA variances 0.80 $ 701.00 $ 560.80 

Chepenik,Adam Brandon AC Partner/Principal 30-Apr-18 T3 - Long-Term Projections Participate in call with A Chepenik (EY), S Panagiotakis (EY), J York 

(Conway), F Battle (Ankura) to discuss fiscal plan to budget mapping.

 0.60 $ 845.00 $ 507.00 

Burr,Jeremy JB Senior 30-Apr-18 T3 - Long-Term Projections Participate in call with S O'Rourke (McKinsey), O Shah (McKinsey), M 

Tulla (FOMB), T Duvall (McKinsey), A Bielenberg (McKinsey), J Reed 

(McKinsey), D Udom (McKinsey), J Davis (McKinsey), S Negron 

(FOMB), K Rifkind (FOMB), A Chepenik (EY), J Santambrogio (EY), S 

Panagiotakis (EY), J Burr (EY), C Loh (EY) to discuss mapping fiscal plan 

measures to the budget

 1.10 $ 430.00 $ 473.00 

Loh,Carmen Chng Wen CL Senior 30-Apr-18 T3 - Long-Term Projections Participate in call with S O'Rourke (McKinsey), O Shah (McKinsey), M 

Tulla (FOMB), T Duvall (McKinsey), A Bielenberg (McKinsey), J Reed 

(McKinsey), D Udom (McKinsey), J Davis (McKinsey), S Negron 

(FOMB), K Rifkind (FOMB), A Chepenik (EY), J Santambrogio (EY), S 

Panagiotakis (EY), J Burr (EY), C Loh (EY) to discuss mapping fiscal plan 

measures to the budget

 1.10 $ 430.00 $ 473.00 

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 54 of 55
Exhibit C 55 of 55

Exhibit C

Financial Oversight and Management Board for Puerto Rico

Summary of Fees by Professional

For the Period February 1, 2018 through April 30, 2018

Name Initials Title Date of 

Service

Project Category Description Time Hourly 

Rate

Total Individual Fees

Burr,Jeremy JB Senior 30-Apr-18 T3 - Long-Term Projections Participate in call with C Loh (EY) and J Burr (EY) to discuss and prepare 

analysis for tax reform credits/grants comparing Gov't plan versus the 

certified fiscal plan

 1.10 $ 430.00 $ 473.00 

Loh,Carmen Chng Wen CL Senior 30-Apr-18 T3 - Long-Term Projections Participate in call with C Loh (EY) and J Burr (EY) to discuss and prepare 

analysis for tax reform credits/grants comparing Gov't plan versus the 

certified fiscal plan

 1.10 $ 430.00 $ 473.00 

Panagiotakis,Sofia SP Manager 30-Apr-18 T3 - Long-Term Projections Review the rightsizing model shared by McKinsey to understand how the 

measures were developed.

 0.80 $ 578.00 $ 462.40 

Panagiotakis,Sofia SP Manager 30-Apr-18 T3 - Long-Term Projections Participate in call with A Chepenik (EY), S Panagiotakis (EY), J York 

(Conway), F Battle (Ankura) to discuss fiscal plan to budget 

 0.60 $ 578.00 $ 346.80 

Aldana Herbas,Jose 

Alberto

HA Staff 30-Apr-18 T3 - Long-Term Projections Prepare schedule portraying variances between the UPR Fiscal Plan 

presentation and the UPR Fiscal Plan model 

 1.40 $ 236.00 $ 330.40 

Loh,Carmen Chng Wen CL Senior 30-Apr-18 T3 - Long-Term Projections Review reserves transfers activity used for emergency and disaster purposes 

based on latest report from the Government

 0.60 $ 430.00 $ 258.00 

Chepenik,Adam Brandon AC Partner/Principal 30-Apr-18 T3 - CBA/Labor Agreements Participate in call with A Chepenik (EY), J Outlaw (EY), R Pavlanco (EY), 

and S Hurtado (EY) to discuss labor assessments and presentation for 

Friday.

 0.30 $ 845.00 $ 253.50 

Pavlenco,Robert J RP Manager 30-Apr-18 T3 - CBA/Labor Agreements Participate in call with A Chepenik (EY), J Outlaw (EY), R Pavlenco (EY), 

and S Hurtado (EY) to discuss labor assessments and presentation for 

Friday

 0.30 $ 578.00 $ 173.40 

Outlaw,Jessica R. JO Manager 30-Apr-18 T3 - CBA/Labor Agreements Participate in call with A Chepenik (EY), J Outlaw (EY), R Pavlanco (EY), 

and S Hurtado (EY) to discuss labor assessments and presentation for 

Friday.

 0.30 $ 578.00 $ 173.40 

Hurtado,Sergio SH Senior 30-Apr-18 T3 - CBA/Labor Agreements Participate in call with A Chepenik (EY), J Outlaw (EY), R Pavlanco (EY), 

and S Hurtado (EY) to discuss labor assessments and presentation for 

Friday

 0.30 $ 430.00 $ 129.00 

Outlaw,Jessica R. JO Manager 30-Apr-18 T3 - CBA/Labor Agreements Participate in call with J Outlaw (EY) and R Pavlenco (EY) to discuss labor 

assessments and review of UPR/PREPA CBA documents 

 0.20 $ 578.00 $ 115.60 

Pavlenco,Robert J RP Manager 30-Apr-18 T3 - CBA/Labor Agreements Participate in call with J Outlaw (EY) and R Pavlenco (EY) to discuss labor 

assessments and review of UPR/PREPA CBA documents

 0.20 $ 578.00 $ 115.60 

Total 1921.9 $1,114,251.25

Case:17-03283-LTS Doc#:3532-3 Filed:07/16/18 Entered:07/16/18 14:28:51 Desc:

Exhibit C Page 55 of 55