Board extends power to cover Puerto Rico's 78 municipalities

A federal control board that oversees Puerto Rico's finances has extended its power to now cover the U.S. territory's 78 municipalities.

The board announced Thursday that it will also require fiscal plans and budgets from 10 of the municipalities as well as from a government agency that collects property taxes.

In addition, a new fiscal plan was approved by the board that allocates more funding to Puerto Rico's health, education and public safety sectors and contains austerity measures rejected by the local government.

The board lowered its predicted surplus and economic growth for Puerto Rico in the near future.

It said local officials have not implemented several reforms and that the U.S. government has been slow in disbursing disaster recovery funds aimed at helping the island rebuild from Hurricane Maria.