University of Puerto Rico. Retirement System. Basic Financial Statements and Required Supplementary Information June 30, 2019 and 2018

We have audited the accompanying financial statements of the University of Puerto Rico Retirement System (the System) as of and for the years ended June 30, 2019 and 2018, and the related notes to the financial statements, which collectively comprise the System’s basic financial statements as listed in the table of contents.