CLIENT: NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY

Country:  United States

Sector:  Utility & Infrastructure

Service:  Financial Management

Project:  Rate Consultant

Project Description: IBS is a subcontractor to Amawalk providing rate consulting services to the Authority, Board and NYCDEP. As Rate Advisor to the Board, the team, led by Amawalk, annually prepares the cost of service and rate recommendations for the wholesale water. The team, has successfully prepared the forecasted cash flows, sources & uses of capital funds, rate projections and supporting financial tables for the bonds issued by the Authority since contract inception. The team also works collaboratively with NYCDEP and the Authority to annually develop and present the proposed revenue requirements, rates and supporting data for in-City customers to the Commissioner, the City's Budget Director and Board. We use a multi-year perspective. The team routinely monitors system cash flows during each year. The team developed and maintains the cash flow and rate forecasting model for the water and sewer system; using the model, we assist the NYCDEP Chief Financial Officer (“CFO”) in evaluating the impacts of alternative operating and capital improvement scenarios. The team surveys the water, sewer and stormwater rates and capital improvement programs for major U.S. cities to compare with NYC and provides data on

other utility practices. 

The Authority is a public benefit corporation created in 1985 pursuant to the New York City Municipal Water Finance Authority Act. Authority’s purpose is to finance the capital needs of the water and sewer system of the City of New York (the “System”) which is operated by the NYCDEP. The Board’s mission is to establish rates for and distribute the collected revenues of the System of the City of New York, proactively considering the optimal level to achieve efficient financing of the System’s infrastructure and sustainable provision of high-quality service at a fair price to our customers. In fulfilling its mission, the Board will actively take into account drivers affecting the financial condition of the System, such as the operating and capital needs of the System, protection of the watershed, regulatory requirements and other relevant factors. The NYCDEP mission is to enrich the environment and protect public health for all New Yorkers by providing high quality drinking water, managing wastewater and stormwater, and reducing air, noise, and hazardous materials pollution.