CLIENT: NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY
Country: United States
Sector: Utility/Infrastructure
Service: Financial Management
Project: Rate and Tariff Consultants
Project Description: The New York City Water Supply System provides approximately 1 billion gallons of safe drinking water daily to more than 8.5 million residents of New York City, and to the millions of tourists and commuters who visit the City throughout the year. The water supply system also provides about 110 million gallons a day to approximately one million people living in the counties of Westchester, Putnam, Orange, and Ulster. In all, the New York City Water Supply System provides nearly half the population of New York State with high-quality drinking water
As the Rate Consultant, IBS (with Amawalk) works closely with all four related entities including, the New York City Municipal Water Finance Authority, the New York City Water Board, the New York City Office of Management and Budget, and the New York City Department of Environmental Protection to develop and maintain a working knowledge of the operation and maintenance, revenues and collections, and the billings of the New York City Water and Sewer System.
Our primary role as rate consultants is to provide reports containing recommendations for the revision of the rates, fees and charges necessary to recover the costs of operating and maintaining the system, including debt service. Additionally, we are required to develop various rate alternatives for future years.
Additionally our team prepares the forecasted cash flows, rate projections and supporting financial tables for the bonds issued by the Authority. The team maintains the rate and cash flow forecasting model for the City’s water and sewer system and provides assistance on an as-needed basis relative to cash flow scenarios, practices of other cities and related matters. On behalf of the Authority, the team also conducts an annual survey of water, sewer and stormwater rates and capital improvement programs for major U.S. cities. Mr. Markus of the team has worked with the Authority on each bond issue since the first transaction in 1985. He directed the feasibility studies prior to the creation of the Authority and the Water Board.