nyc water & sewer system fy 2012 financials

8/12/2019 NYC Water & Sewer System FY 2012 Financials

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Municipal Secondary Market Disclosure Filing Sheet

Filing Date: 10/16/2012 4 26 17 PM

Disclosure Type: FinancialOperatingDataDisclosure

Security Information

Issue Dated: notavailable

6497062A5

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2/111

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4/111

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649706AB4649706AC2

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649706AE8

649706AF5

649706AG3

649706AH1

649706AJ7

649706AK4

649706AL2649706AM0

649706AN8

649706AP3

649706AQ1

649706AR9

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5/111

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649706B72649706B80

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649706BD9

649706BE7

649706BF4

649706BG2

649706BH0

649706BJ6

649706BK3

649706BL1

649706BM9

649706BN7

649706BP2

649706BQ0

649706BR8

649706BS6649706BT4

649706BU1

649706BV9

649706BW7

649706BX5

649706BY3

649706BZ0

649706C22

649706C30649706C48

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6/111

649706CG1

649706CH9

649706CJ5

649706CK2

649706CL0

649706CM8

649706CN6649706CP1

649706CQ9

649706CR7

649706CS5

649706CT3

649706CU0

649706CX4

649706CY2

649706CZ9

649706D21

649706D39

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649706D62

649706D70

649706D88

649706D96

649706DA3

649706DB1649706DC9

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649706DE5

649706DF2

649706DG0

649706DH8

649706DJ4

649706DK1

649706DL9649706DM7

649706DN5

649706DP0

649706DQ8

649706DR6

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649706DT2

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649706DV7

649706DW5

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7/111

649706DZ8

649706E20

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649706E79649706E87

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649706EF1

649706EG9

649706EH7

649706EJ3

649706EK0

649706EL8

649706EM6

649706EN4

649706EQ7

649706ER5

649706ES3

649706ET1649706EU8

649706EV6

649706EW4

649706EX2

649706EY0

649706EZ7

649706F29

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8/111

649706FH6

649706FJ2

649706FK9

649706FL7

649706FM5

649706FN3

649706FP8649706FQ6

649706FR4

649706FS2

649706FT0

649706FU7

649706FV5

649706FW3

649706FX1

649706FY9

649706FZ6

649706G28

649706G36

649706G44

649706G51

649706G69

649706G77

649706G85

649706G93

649706GA0649706GB8

649706GC6

649706GD4

649706GE2

649706GF9

649706GG7

649706GH5

649706GJ1

649706GK8649706GL6

649706GM4

649706GN2

649706GP7

649706GQ5

649706GR3

649706GS1

649706GT9

649706GU6

649706GV4

649706GW2


9/111

649706GY8

649706GZ5

649706H27

649706H35

649706H43

649706H50

649706H68649706H76

649706H84

649706H92

649706HA9

649706HB7

649706HC5

649706HD3

649706HF8

649706HG6

649706HH4

649706HJ0

649706HK7

649706HL5

649706HM3

649706HN1

649706HP6

649706HQ4

649706HR2

649706HS0649706HT8

649706HU5

649706HV3

649706HW1

649706HX9

649706HY7

649706HZ4

649706IA8

649706IB6649706IC4

649706ID2

649706J25

649706J33

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649706J90

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10/111

649706JC3

649706JD1

649706JE9

649706JF6

649706JG4

649706JH2

649706JJ8649706JK5

649706JL3

649706JM1

649706JN9

649706JP4

649706JQ2

649706JR0

649706JS8

649706JT6

649706JU3

649706JV1

649706JX7

649706JY5

649706JZ2

649706K23

649706K31

649706K49

649706K56

649706K64649706K72

649706K80

649706K98

649706KA5

649706KB3

649706KC1

649706KD9

649706KE7

649706KF4649706KG2

649706KH0

649706KJ6

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11/111

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649706L71

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649706LA4

649706LB2

649706LC0

649706LD8

649706LE6

649706LF3

649706LG1

649706LH9

649706LJ5

649706LK2

649706LL0

649706LM8649706LN6

649706LP1

649706LQ9

649706LR7

649706LS5

649706LT3

649706LU0

649706LV8

649706LW6649706LX4

649706LY2

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649706M21

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649706M88

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12/111

649706MB1

649706MC9

649706MD7

649706ME5

649706MF2

649706MG0

649706MH8649706MJ4

649706MK1

649706ML9

649706MM7

649706MN5

649706MP0

649706MQ8

649706MR6

649706MS4

649706MT2

649706MU9

649706MV7

649706MW5

649706MX3

649706MY1

649706MZ8

649706N20

649706N38

649706N46649706N53

649706N61

649706N79

649706N87

649706N95

649706NA2

649706NB0

649706NC8

649706ND6649706NE4

649706NF1

649706NG9

649706NH7

649706NJ3

649706NK0

649706NL8

649706NM6

649706NN4

649706NP9

649706NQ7


13/111

649706NS3

649706NT1

649706NU8

649706NV6

649706NW4

649706NX2

649706NY0649706NZ7

649706P28

649706P36

649706P44

649706P51

649706P69

649706P77

649706P85

649706P93

649706PA0

649706PB8

649706PC6

649706PD4

649706PE2

649706PF9

649706PG7

649706PH5

649706PJ1

649706PK8649706PL6

649706PM4

649706PN2

649706PP7

649706PQ5

649706PR3

649706PS1

649706PT9

649706PU6649706PV4

649706PW2

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14/111

649706Q92

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649706QF8649706QG6

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649706QL5

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649706QQ4

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649706QS0

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649706R75

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649706RA8

649706RB6

649706RC4649706RD2

649706RE0

649706RF7

649706RG5

649706RH3

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649706RK6

649706RL4

649706RM2

649706RN0

649706RP5


15/111

649706RR1

649706RS9

649706RT7

649706RU4

649706RV2

649706RW0

649706RX8649706RY6

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649706SD1

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649706SG4

649706SH2

649706SJ8649706SL3

649706SM1

649706SN9

649706SP4

649706SQ2

649706SR0

649706SS8

649706ST6

649706SU3649706SV1

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649706SX7

649706SY5

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649706T57

649706T65

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16/111

649706T99

649706TA6

649706TB4

649706TC2

649706TD0

649706TE8

649706TF5649706TG3

649706TH1

649706TJ7

649706TK4

649706TL2

649706TM0

649706TN8

649706TP3

649706TQ1

649706TR9

649706TS7

649706TT5

649706TU2

649706TV0

649706TW8

649706TX6

649706TY4

649706TZ1

649706U22649706U30

649706U48

649706U55

649706U63

649706U71

649706U89

649706U97

649706UA4

649706UB2649706UC0

649706UD8

649706UE6

649706UF3

649706UG1

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649706UK2

649706UL0

649706UM8

649706UN6


17/111

649706UQ9

649706UR7

649706US5

649706UT3

649706UU0

649706UV8

649706UW6649706UY2

649706UZ9

649706V21

649706V39

649706V47

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649706V62

649706V70

649706V88

649706V96

649706VA3

649706VB1

649706VC9

649706VV7

649706VW5

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649706VY1

649706VZ8

649706W20649706W38

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649706W53

649706W61

649706W79

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649706W95

649706WA2

649706WB0649706WC8

649706WD6

649706WE4

649706WF1

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649706WK0

649706WL8

649706WM6

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18/111

649706WQ7

649706WR5

649706WS3

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649706WU8

649706WV6

649706WW4649706WX2

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649706XH6649706XJ2

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649706XL7

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649706XQ6

649706XR4

649706XS2649706XT0

649706XU7

649706XV5

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649706Y28

649706Y36

649706Y44

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19/111

649706Y77

649706Y85

649706Y93

649706YA0

649706YB8

649706YC6

649706YD4649706YE2

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649706YJ1

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649706YM4

649706YN2

649706YP7

649706YQ5

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649706YS1

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649706YY8649706YZ5

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649706ZA9

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649706ZF8649706ZG6

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20/111

649706ZU5

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64970K2A464970K2B2

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21/111

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64970K4U864970K4V6

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64970K5D564970K5E3

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22/111

64970K5S2

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64970K6A0

64970K6B8

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64970K6D4

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64970K6L6

64970K6M4

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64970K6T964970K6U6

64970K6V4

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64970K6X0

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64970K7A9

64970K7B7

64970K7C564970K7D3

64970K7E1

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64970K7G6

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23/111

64970K7R2

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64970K7V3

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64970K7X964970K7Y7

64970K7Z4

64970K8A8

64970K8B6

64970K8C4

64970K8D2

64970K8E0

64970K8F7

64970K8G5

64970K8H3

64970KA23

64970KA31

64970KA49

64970KA56

64970KA64

64970KA72

64970KA80

64970KA98

64970KAA564970KAB3

64970KAC1

64970KAD9

64970KAE7

64970KAF4

64970KAG2

64970KAH0

64970KAJ6

64970KAK364970KAL1

64970KAM9

64970KAN7

64970KAP2

64970KAQ0

64970KAR8

64970KAS6

64970KAT4

64970KAU1

64970KAV9

64970KAW7


24/111

64970KAY3

64970KAZ0

64970KB22

64970KB30

64970KB48

64970KB55

64970KB6364970KB71

64970KB89

64970KB97

64970KBA4

64970KBB2

64970KBC0

64970KBD8

64970KBE6

64970KBF3

64970KBG1

64970KBH9

64970KBJ5

64970KBK2

64970KBL0

64970KBM8

64970KBN6

64970KBP1

64970KBQ9

64970KBR764970KBS5

64970KBT3

64970KBU0

64970KBV8

64970KBW6

64970KBX4

64970KBY2

64970KBZ9

64970KC2164970KC39

64970KC47

64970KC54

64970KC62

64970KC70

64970KC88

64970KC96

64970KCA3

64970KCB1

64970KCC9

64970KCD7


25/111

64970KCF2

64970KCG0

64970KCH8

64970KCJ4

64970KCK1

64970KCL9

64970KCM764970KCN5

64970KCP0

64970KCQ8

64970KCR6

64970KCS4

64970KCT2

64970KCU9

64970KCV7

64970KCW5

64970KCX3

64970KCY1

64970KCZ8

64970KD20

64970KD38

64970KD46

64970KD53

64970KD61

64970KD79

64970KD8764970KD95

64970KDA2

64970KDB0

64970KDC8

64970KDD6

64970KDE4

64970KDF1

64970KDG9

64970KDH764970KDJ3

64970KDK0

64970KDL8

64970KDM6

64970KDN4

64970KDP9

64970KDQ7

64970KDR5

64970KDS3

64970KDT1

64970KDU8


26/111

64970KDW4

64970KDX2

64970KDY0

64970KDZ7

64970KE29

64970KE37

64970KE4564970KE52

64970KE60

64970KE78

64970KE86

64970KE94

64970KEA1

64970KEB9

64970KEC7

64970KED5

64970KEE3

64970KEF0

64970KEG8

64970KEH6

64970KEJ2

64970KEK9

64970KEL7

64970KEM5

64970KEN3

64970KEP864970KEQ6

64970KER4

64970KES2

64970KET0

64970KEU7

64970KEV5

64970KEW3

64970KEX1

64970KEY964970KEZ6

64970KF28

64970KF36

64970KF44

64970KF51

64970KF69

64970KF77

64970KF85

64970KF93

64970KFA0

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27/111

64970KFD4

64970KFE2

64970KFF9

64970KFG7

64970KFH5

64970KFJ1

64970KFK864970KFL6

64970KFM4

64970KFN2

64970KFP7

64970KFQ5

64970KFR3

64970KFS1

64970KFT9

64970KFU6

64970KFV4

64970KFW2

64970KFX0

64970KFY8

64970KFZ5

64970KG27

64970KG35

64970KG43

64970KG50

64970KG6864970KG76

64970KG84

64970KG92

64970KGA9

64970KGB7

64970KGC5

64970KGD3

64970KGE1

64970KGF864970KGG6

64970KGH4

64970KGJ0

64970KGK7

64970KGL5

64970KGM3

64970KGN1

64970KGP6

64970KGQ4

64970KGR2

64970KGS0


28/111

64970KGU5

64970KGV3

64970KGW1

64970KGX9

64970KGY7

64970KGZ4

64970KH2664970KH34

64970KH42

64970KH59

64970KH67

64970KH75

64970KH83

64970KH91

64970KHA8

64970KHB6

64970KHC4

64970KHD2

64970KHE0

64970KHF7

64970KHG5

64970KHH3

64970KHJ9

64970KHK6

64970KHL4

64970KHM264970KHN0

64970KHP5

64970KHQ3

64970KHR1

64970KHS9

64970KHT7

64970KHU4

64970KHV2

64970KHW064970KHX8

64970KHY6

64970KHZ3

64970KJ24

64970KJ32

64970KJ40

64970KJ57

64970KJ65

64970KJ73

64970KJ81

64970KJ99


29/111

64970KJB4

64970KJC2

64970KJD0

64970KJE8

64970KJF5

64970KJG3

64970KJH164970KJJ7

64970KJK4

64970KJL2

64970KJM0

64970KJN8

64970KJP3

64970KJQ1

64970KJR9

64970KJS7

64970KJT5

64970KJU2

64970KJV0

64970KJW8

64970KJX6

64970KJY4

64970KJZ1

64970KK22

64970KK30

64970KK4864970KK55

64970KK63

64970KK71

64970KK89

64970KK97

64970KKA4

64970KKB2

64970KKC0

64970KKD864970KKE6

64970KKF3

64970KKG1

64970KKH9

64970KKJ5

64970KKK2

64970KKL0

64970KKM8

64970KKN6

64970KKP1

64970KKQ9


30/111

64970KKS5

64970KKT3

64970KKU0

64970KKV8

64970KKW6

64970KKX4

64970KKY264970KKZ9

64970KL21

64970KL39

64970KL47

64970KL54

64970KL62

64970KL70

64970KL88

64970KL96

64970KLA3

64970KLB1

64970KLC9

64970KLD7

64970KLE5

64970KLF2

64970KLG0

64970KLH8

64970KLJ4

64970KLK164970KLL9

64970KLM7

64970KLN5

64970KLP0

64970KLQ8

64970KLR6

64970KLS4

64970KLT2

64970KLU964970KLV7

64970KLW5

64970KLX3

64970KLY1

64970KLZ8

64970KM20

64970KM38

64970KM46

64970KM53

64970KM61

64970KM79


31/111

64970KM95

64970KMA2

64970KMB0

64970KMC8

64970KMD6

64970KME4

64970KMF164970KMG9

64970KMH7

64970KMJ3

64970KMK0

64970KML8

64970KMM6

64970KMN4

64970KMP9

64970KMQ7

64970KMR5

64970KMS3

64970KMT1

64970KMU8

64970KMV6

64970KMW4

64970KMX2

64970KMY0

64970KMZ7

64970KN2964970KN37

64970KN45

64970KN52

64970KN60

64970KN78

64970KN86

64970KN94

64970KNA1

64970KNB964970KNC7

64970KND5

64970KNE3

64970KNF0

64970KNG8

64970KNH6

64970KNJ2

64970KNK9

64970KNL7

64970KNM5

64970KNN3


32/111

64970KNQ6

64970KNR4

64970KNS2

64970KNT0

64970KNU7

64970KNV5

64970KNW364970KNX1

64970KNY9

64970KNZ6

64970KP27

64970KP35

64970KP43

64970KP50

64970KP68

64970KP76

64970KP84

64970KP92

64970KPA9

64970KPB7

64970KPC5

64970KPD3

64970KPE1

64970KPF8

64970KPG6

64970KPH464970KPJ0

64970KPK7

64970KPL5

64970KPM3

64970KPN1

64970KPP6

64970KPQ4

64970KPR2

64970KPS064970KPT8

64970KPU5

64970KPV3

64970KPW1

64970KPX9

64970KPY7

64970KPZ4

64970KQ26

64970KQ34

64970KQ42

64970KQ59


33/111

64970KQ75

64970KQ83

64970KQ91

64970KQA8

64970KQB6

64970KQC4

64970KQD264970KQE0

64970KQF7

64970KQG5

64970KQH3

64970KQJ9

64970KQK6

64970KQL4

64970KQM2

64970KQN0

64970KQP5

64970KQQ3

64970KQR1

64970KQS9

64970KQT7

64970KQU4

64970KQV2

64970KQW0

64970KQX8

64970KQY664970KQZ3

64970KR25

64970KR33

64970KR41

64970KR58

64970KR66

64970KR74

64970KR82

64970KR9064970KRA7

64970KRB5

64970KRC3

64970KRD1

64970KRE9

64970KRF6

64970KRG4

64970KRH2

64970KRJ8

64970KRK5

64970KRL3


34/111

64970KRN9

64970KRP4

64970KRQ2

64970KRR0

64970KRS8

64970KRT6

64970KRU364970KRV1

64970KRW9

64970KRX7

64970KRY5

64970KRZ2

64970KS24

64970KS32

64970KS40

64970KS57

64970KS65

64970KS73

64970KS81

64970KS99

64970KSA6

64970KSB4

64970KSC2

64970KSD0

64970KSE8

64970KSF564970KSG3

64970KSH1

64970KSJ7

64970KSK4

64970KSL2

64970KSM0

64970KSN8

64970KSP3

64970KSQ164970KSR9

64970KSS7

64970KST5

64970KSU2

64970KSV0

64970KSW8

64970KSX6

64970KSY4

64970KSZ1

64970KT23

64970KT31


35/111

64970KT56

64970KT64

64970KT72

64970KT80

64970KT98

64970KTA5

64970KTB364970KTC1

64970KTD9

64970KTE7

64970KTF4

64970KTG2

64970KTH0

64970KTJ6

64970KTK3

64970KTL1

64970KTM9

64970KTN7

64970KTP2

64970KTQ0

64970KTR8

64970KTS6

64970KTT4

64970KTU1

64970KTV9

64970KTW764970KTX5

64970KTY3

64970KTZ0

64970KU21

64970KU39

64970KU47

64970KU54

64970KU62

64970KU7064970KU88

64970KU96

64970KUA3

64970KUB1

64970KUC9

64970KUD7

64970KUE5

64970KUF2

64970KUG0

64970KUH8

64970KUJ4


36/111

64970KUL9

64970KUM7

64970KUN5

64970KUP0

64970KUQ8

64970KUR6

64970KUS464970KUT2

64970KUU9

64970KUV7

64970KUW5

64970KUX3

64970KUY1

64970KUZ8

64970KV20

64970KV38

64970KV46

64970KV53

64970KV61

64970KV79

64970KV87

64970KV95

64970KVA2

64970KVB0

64970KVC8

64970KVD664970KVE4

64970KVF1

64970KVG9

64970KVH7

64970KVJ3

64970KVK0

64970KVL8

64970KVM6

64970KVN464970KVP9

64970KVQ7

64970KVR5

64970KVS3

64970KVT1

64970KVU8

64970KVV6

64970KVW4

64970KVX2

64970KVY0

64970KVZ7


37/111

64970KW37

64970KW45

64970KW52

64970KW60

64970KW78

64970KW86

64970KW9464970KWA1

64970KWB9

64970KWC7

64970KWD5

64970KWE3

64970KWF0

64970KWG8

64970KWH6

64970KWJ2

64970KWK9

64970KWL7

64970KWM5

64970KWN3

64970KWP8

64970KWQ6

64970KWR4

64970KWS2

64970KWT0

64970KWU764970KWV5

64970KWW3

64970KWX1

64970KWY9

64970KWZ6

64970KX28

64970KX36

64970KX44

64970KX5164970KX69

64970KX77

64970KX85

64970KX93

64970KXA0

64970KXB8

64970KXC6

64970KXD4

64970KXE2

64970KXF9

64970KXG7


38/111

64970KXJ1

64970KXK8

64970KXL6

64970KXM4

64970KXN2

64970KXP7

64970KXQ564970KXR3

64970KXS1

64970KXT9

64970KXU6

64970KXV4

64970KXW2

64970KXX0

64970KXY8

64970KXZ5

64970KY27

64970KY35

64970KY43

64970KY50

64970KY68

64970KY76

64970KY84

64970KY92

64970KYA9

64970KYB764970KYC5

64970KYD3

64970KYE1

64970KYF8

64970KYG6

64970KYH4

64970KYJ0

64970KYK7

64970KYL564970KYM3

64970KYN1

64970KYP6

64970KYQ4

64970KYR2

64970KYS0

64970KYT8

64970KYU5

64970KYV3

64970KYW1

64970KYX9


39/111

64970KYZ4

64970KZ26

64970KZ34

64970KZ42

64970KZ59

64970KZ67

64970KZ7564970KZ83

64970KZ91

64970KZA8

64970KZB6

64970KZC4

64970KZD2

64970KZE0

64970KZF7

64970KZG5

64970KZH3

64970KZJ9

64970KZK6

64970KZL4

64970KZM2

64970KZN0

64970KZP5

64970KZQ3

64970KZR1

64970KZS964970KZT7

64970KZU4

64970KZV2

64970KZW0

64970KZX8

64970KZY6

64970KZZ3

64971GAA3

64971GAB164971GAC9

64971GAD7

64971GAE5

64971GAF2

64971GAG0

64971GAH8

64971GAJ4

64971GAK1

64971GAL9

64971GAM7

64971GAN5


40/111

64971GAQ8

64971GAR6

64971GAS4

64971GAT2

64971GAU9

64971GAV7

64971GAW564971GAX3

64971GAY1

64971GAZ8

64971GBA2

64971GBB0

64971GBC8

64971GBD6

64971GBE4

64971GBF1

64971GBG9

64971GBH7

64971GBJ3

64971GBK0

64971GBL8

64971GBM6

64971GBN4

64971GBP9

64971GBQ7

64971GBR564971GBS3

64971GBT1

64971GBU8

64971GBV6

64971GBW4

64971GBX2

64971GBY0

64971GBZ7

64971GCA164971GCB9

64971GCC7

64971GCD5

64971GCE3

64971GCF0

64971GCG8

64971GCH6

64971GCJ2

64971GCK9

64971GCL7

64971GCM5


41/111

64971GCP8

64971GCQ6

64971GCR4

64971GCS2

64971GCT0

64971GCU7

64971GCV564971GCW3

64971GCX1

64971GCY9

64971GCZ6

64971GDA0

64971GDB8

64971GDC6

64971GDD4

64971GDE2

64971GDF9

64971GDG7

64971GDH5

64971GDJ1

64971GDK8

64971GDL6

64971GDM4

64971GDN2

64971GDP7

64971GDQ564971GDR3

64971GDS1

64971GDT9

64971GDU6

64971GDV4

64971GDW2

64971GDX0

64971GDY8

64971GDZ564971GEA9

64971GEB7

64971GEC5

64971GED3

64971GEE1

64971GEF8

64971GEG6

64971GEH4

64971GEJ0

64971GEK7

64971GEL5


42/111

64971GEN1

64971GEP6

64971GEQ4

64971GER2

64971GES0

64971GET8

64971GEU564971GEV3

64971GEW1

64971GEX9

64971GEY7

64971GEZ4

64971GFA8

64971GFB6

64971GFC4

64971GFD2

64971GFE0

64971GFF7

64971GFG5

64971GFH3

64971GFJ9

64971GFK6

64971GFL4

64971GFM2

64971GFN0

64971GFP564971GFQ3

64971GFR1

64971GFS9

64971GFT7

64971GFU4

64971GFV2

64971GFW0

64971GFX8

64971GFY664971GFZ3

64971GGA7

64971GGB5

64971GGC3

64971GGD1

64971GGE9

64971GGF6

64971GGG4

64971GGH2

64971GGJ8

64971GGK5


43/111

64971GGM1

64971GGN9

64971GGP4

64971GGQ2

64971GGR0

64971GGS8

64971GGT664971GGU3

64971GGV1

64971GGW9

64971GGX7

64971GGY5

64971GGZ2

64971GHA6

64971GHB4

64971GHC2

64971GHD0

64971GHE8

64971GHF5

64971GHG3

64971GHH1

64971GHJ7

64971GHK4

64971GHL2

64971GHM0

64971GHN864971GHP3

64971GHQ1

64971GHR9

64971GHS7

64971GHT5

64971GHU2

64971GHV0

64971GHW8

64971GHX664971GHY4

64971GHZ1

64971GJA4

64971GJB2

64971GJC0

64971GJD8

64971GJE6

64971GJF3

64971GJG1

64971GJH9

64971GJJ5


44/111

64971GJL0

64971GJM8

64971GJN6

64971GJP1

64971GJQ9

64971GJR7

64971GJS564971GJT3

64971GJU0

64971GJV8

64971GJW6

64971GJX4

64971GJY2

64971GJZ9

64971GKA2

64971GKB0

64971GKC8

64971GKD6

64971GKE4

64972F2A3

64972F2B1

64972F2C9

64972F2D7

64972F2E5

64972F2F2

64972F2G064972F2H8

64972F2J4

64972F2K1

64972F2L9

64972F2M7

64972F2N5

64972F2P0

64972F2Q8

64972F2R664972F2S4

64972F2T2

64972F2U9

64972F2V7

64972F2W5

64972F2X3

64972F2Y1

64972F2Z8

64972F3A2

64972F3B0

64972F3C8


45/111

64972F3E4

64972F3F1

64972F3G9

64972F3H7

64972F3J3

64972F3K0

64972F3L864972F3M6

64972F3N4

64972F3P9

64972F3Q7

64972F3R5

64972F3S3

64972F3T1

64972F3U8

64972F3V6

64972F3W4

64972F3X2

64972F3Y0

64972F3Z7

64972F4A1

64972F4B9

64972F4C7

64972F4D5

64972F4E3

64972F4F064972F4G8

64972F4H6

64972F4J2

64972F4K9

64972F4L7

64972F4M5

64972F4N3

64972F4P8

64972F4Q664972F4R4

64972F4S2

64972F4T0

64972F4U7

64972F4V5

64972F4W3

64972F4X1

64972F4Y9

64972F4Z6

64972F5A0

64972F5B8


46/111

64972F5D4

64972F5E2

64972F5F9

64972F5G7

64972F5H5

64972F5J1

64972F5K864972F5L6

64972F5M4

64972F5N2

64972F5P7

64972F5Q5

64972F5R3

64972F5S1

64972F5T9

64972F5U6

64972F5V4

64972F5W2

64972F5X0

64972F5Y8

64972F5Z5

64972F6A9

64972F6B7

64972F6C5

64972F6D3

64972F6E164972F6F8

64972F6G6

64972F6H4

64972F6J0

64972F6K7

64972F6L5

64972F6M3

64972F6N1

64972F6P664972F6Q4

64972F6R2

64972F6S0

64972F6T8

64972F6U5

64972F6V3

64972F6W1

64972F6X9

64972F6Y7

64972F6Z4

64972F7A8


47/111

64972F7C4

64972F7D2

64972F7E0

64972F7F7

64972F7G5

64972F7H3

64972F7J964972F7K6

64972F7L4

64972F7M2

64972F7N0

64972F7P5

64972F7Q3

64972F7R1

64972F7S9

64972F7T7

64972F7U4

64972F7V2

64972F7W0

64972F7X8

64972F7Y6

64972F7Z3

64972F8A7

64972F8B5

64972F8C3

64972F8D164972F8E9

64972F8F6

64972F8G4

64972F8H2

64972F8J8

64972F8K5

64972F8L3

64972FA22

64972FA3064972FA48

64972FA55

64972FA63

64972FA71

64972FA89

64972FA97

64972FAA4

64972FAB2

64972FAC0

64972FAD8

64972FAE6


48/111

64972FAG1

64972FAH9

64972FAJ5

64972FAK2

64972FAL0

64972FAM8

64972FAN664972FAP1

64972FAQ9

64972FAR7

64972FAS5

64972FAT3

64972FAU0

64972FAV8

64972FAW6

64972FAX4

64972FAY2

64972FAZ9

64972FB21

64972FB39

64972FB47

64972FB54

64972FB62

64972FB70

64972FB88

64972FB9664972FBA3

64972FBB1

64972FBC9

64972FBD7

64972FBE5

64972FBF2

64972FBG0

64972FBH8

64972FBJ464972FBK1

64972FBL9

64972FBM7

64972FBN5

64972FBP0

64972FBQ8

64972FBR6

64972FBS4

64972FBT2

64972FBU9

64972FBV7


49/111

64972FBX3

64972FBY1

64972FBZ8

64972FC20

64972FC38

64972FC46

64972FC5364972FC61

64972FC79

64972FC87

64972FC95

64972FCA2

64972FCB0

64972FCC8

64972FCD6

64972FCE4

64972FCF1

64972FCG9

64972FCH7

64972FCJ3

64972FCK0

64972FCL8

64972FCM6

64972FCN4

64972FCP9

64972FCQ764972FCR5

64972FCS3

64972FCT1

64972FCU8

64972FCV6

64972FCW4

64972FCX2

64972FCY0

64972FCZ764972FD29

64972FD37

64972FD45

64972FD52

64972FD60

64972FD78

64972FD86

64972FD94

64972FDA1

64972FDB9

64972FDC7


50/111

64972FDE3

64972FDF0

64972FDG8

64972FDH6

64972FDJ2

64972FDK9

64972FDL764972FDM5

64972FDN3

64972FDP8

64972FDQ6

64972FDR4

64972FDS2

64972FDT0

64972FDU7

64972FDV5

64972FDW3

64972FDX1

64972FDY9

64972FDZ6

64972FE28

64972FE36

64972FE44

64972FE51

64972FE69

64972FE7764972FE85

64972FE93

64972FEA0

64972FEB8

64972FEC6

64972FED4

64972FEE2

64972FEF9

64972FEG764972FEH5

64972FEJ1

64972FEK8

64972FEL6

64972FEM4

64972FEN2

64972FEP7

64972FEQ5

64972FER3

64972FES1

64972FET9


51/111

64972FEV4

64972FEW2

64972FEX0

64972FEY8

64972FEZ5

64972FF27

64972FF3564972FF43

64972FF50

64972FF68

64972FF76

64972FF84

64972FF92

64972FFA9

64972FFB7

64972FFC5

64972FFD3

64972FFE1

64972FFF8

64972FFG6

64972FFH4

64972FFJ0

64972FFK7

64972FFL5

64972FFM3

64972FFN164972FFP6

64972FFQ4

64972FFR2

64972FFS0

64972FFT8

64972FFU5

64972FFV3

64972FFW1

64972FFX964972FFY7

64972FFZ4

64972FG26

64972FG34

64972FG42

64972FG59

64972FG67

64972FG75

64972FG83

64972FG91

64972FGA8


52/111

64972FGC4

64972FGD2

64972FGE0

64972FGF7

64972FGG5

64972FGH3

64972FGJ964972FGK6

64972FGL4

64972FGM2

64972FGN0

64972FGP5

64972FGQ3

64972FGR1

64972FGS9

64972FGT7

64972FGU4

64972FGV2

64972FGW0

64972FGX8

64972FGY6

64972FGZ3

64972FH25

64972FH33

64972FH41

64972FH5864972FH66

64972FH74

64972FH82

64972FH90

64972FHA7

64972FHB5

64972FHC3

64972FHD1

64972FHE964972FHF6

64972FHG4

64972FHH2

64972FHJ8

64972FHK5

64972FHL3

64972FHM1

64972FHN9

64972FHP4

64972FHQ2

64972FHR0


53/111

64972FHT6

64972FHU3

64972FHV1

64972FHW9

64972FHX7

64972FHY5

64972FHZ264972FJ23

64972FJ31

64972FJ49

64972FJ56

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Contact Information

Submitter:

Name: DEBORAH COHEN

Phone: 2127889587

City, State, Zip: NEW YORK NY 10007

Email: [email protected]: 75 PARK PLACE

Employer: Office of Management and Budget

Issuer:

Name: DEBORAH COHENPhone: 2127889587City, State, Zip: NEW YORK NY 10007Email: [email protected]

Address: 75 PARK PLACEEmployer: Office of Management and Budget


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New York City Waterand Sewer System(A Component Unit of The City of New York)

Financial Statements as of and for theYears Ended June 30, 2012 and 2011,Required Supplementary Information, andIndependent Auditors Report


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NEW YORK CITY WATER AND SEWER SYSTEM

TABLE OF CONTENTS

Page

INDEPENDENT AUDITORS REPORT 1

MANAGEMENTS DISCUSSION AND ANALYSIS 210

FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDEDJUNE 30, 2012 AND 2011:

Combining Balance Sheets 1114

Combining Statements of Revenues, Expenses and Changes in Net Assets (Deficit) 1516

Combining Statements of Cash Flows 1720

Notes to Financial Statements 2143

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED): 44

Schedule of Funding Progress for the Other Postemployment Benefit Plan 45


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MANAGEMENTS DISCUSSION AND ANALYSIS

- 2 -

Overview of the Financial Statements

The following is an overview of the financial activities of the New York City Water and Sewer System (theSystem) for the fiscal years ended June 30, 2012 and 2011. The System is a joint operation consisting of

two legally separate and independent entities, the New York City Municipal Water Finance Authority (theAuthority) and the New York City Water Board (the Board). The System is a component unit of The Cityof New York (The City).

The basic financial statements of the System, which include the balance sheets, the statements of revenues,expenses and changes in net assets and the statements of cash flows, are presented for the purposes ofdisplaying entity-wide information, in accordance with Governmental Accounting Standards Board (GASB)standards. These financial statements are prepared using the economic resources measurement focus and theaccrual basis of accounting.

Financial Analysis and Results of Operations

The following summarizes the activities of the System for the fiscal years 2012, 2011 and 2010 (inthousands):

2012 2011 2010 2012 v 2011 2011 v 2010

REVENUES:

Water supply and distribution 1,238,352$ 1,158,977$ 1,005,045$ 79,375$ 153,932$

Sewer collection and treatment 1,857,527 1,797,777 1,562,777 59,750 235,000Other operating revenues 140,595 111,552 190,251 29,043 (78,699)

Total operating revenues 3,236,474 3,068,306 2,758,073 168,168 310,233

Subsidy income 196,241 180,986 128,110 15,255 52,876

Investment income 48,936 38,313 65,760 10,623 (27,447)

Total revenues 3,481,651 3,287,605 2,951,943 194,046 335,662

EXPENSES:

Operations and maintenance 1,373,038 1,294,533 1,539,846 78,505 (245,313)

Other operating expenses 73,814 103,334 289,989 (29,520) (186,655) Bad debt expense 28,541 76,799 14,032 (48,258) 62,767

Administration and general 47,402 40,424 40,257 6,978 167

Depreciation and amortization 733,425 628,339 574,483 105,086 53,856

Capital distribution 42,005 53,591 32,580 (11,586) 21,011

Loss on retirement of capital assets 1,646 3,426 23,254 (1,780) (19,828)Interest expense 1,196,647 1,178,226 1,019,633 18,421 158,593

Total expenses 3,496,518 3,378,672 3,534,074 117,846 (155,402)

Net loss before capital contributions (14,867) (91,067) (582,131) 76,200 491,064

CAPITAL CONTRIBUTIONS 26,903 18,696 30,424 8,207 (11,728)

CHANGE IN NET ASSETS 12,036 (72,371) (551,707) 84,407 479,336

NET ASSETS Beginning (352,888) (280,517) 271,190 (72,371) (551,707)

NET (DEFICIT) ASSETS Ending (340,852)$ (352,888)$ (280,517)$ 12,036$ (72,371)$

ariance


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MANAGEMENTS DISCUSSION AND ANALYSIS (CONTINUED)

- 3 -

Operati ng Revenue

2012-2011

Operating revenues increased by $168.2 million or 5.5% due predominantly to a rate increase of 7.5%.

2011-2010

Operating revenues increased by $310.2 million or 11.2% due predominantly to a rate increase of 12.9%.

The following summarizes other operating revenues for fiscal years 2012, 2011, and 2010 (in thousands):

2012 2011 2010 2012 v 2011 2011 v 2010

Upstate water fees 60,891$ 64,737$ 40,876$ (3,846)$ 23,861$

Late payment fees 44,069 30,270 29,107 13,799 1,163

Change in residual interest in sold liens 12,777 (1,734) 2,156 14,511 (3,890)

Release of escrow/trust 7,353 4,406 98,820 2,947 (94,414)Federal funding 2,632 2,504 2,733 128 (229)

Litigation settlement receipt - - 8,867 - (8,867)Connection fees and permits 12,873 11,369 7,692 1,504 3,677

Total other operating revenues 140,595$ 111,552$ 190,251$ 29,043$ (78,699)$

ariance

Other Operating Revenue

2012-2011

In fiscal year 2012, the New York State Department of Environmental Conservation (DEC) returned$7.4 million of escrowed funds to the System, as the New York City Department of Environmental Protection(DEP) met the requirement for secondary treatment at its Newtown Creek Wastewater Treatment Plant inadvance of the established milestone date. The escrow fund had been established in 2009 to cover potentialpenalties that would be incurred in the event DEP missed mandated construction milestones.

Upstate water fees decreased by $3.8 million or 5.9% compared to 2011. The decrease is due primarily to areduction in consumption.

The change in residual interest in sold liens increased by $14.5 million as a bond sale transaction by thepurchasing trust had not been completed as of June 30, 2012.

Connection fees and permits increased by $1.5 million or 13.2% due to a special initiative to bring buildingsinto compliance with the New York State Sanitary Code regarding backflow prevention.

Late payment fees increased by $13.8 million or 45.6% primarily due to the rate increase and a decrease inbilling adjustments. The substantial completion of DEPs installation of its wireless meter reading system hasincreased the number of actual readings and reduced the number of estimated readings that had previouslyresulted in billing adjustments.

Federal funding of $2.6 million was received by the Water Board in fiscal 2012 to support technicalassistance in developing a Contamination Warning System Demonstration Pilot Program.


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- 4 -

2011-2010

In fiscal 2011 the System received $4.4 million from two trust accounts established in 2004. These trust fundswere established to pay for fines pertaining to nitrogen removal and combined sewer overflow abatementpursuant to consent orders from the New York State Department of Environmental Conservation. By meetingcertain conditions, the System was entitled to use the funds from the trust accounts.

Upstate water fees increased by $23.9 million or 58.4% compared to 2010. The increase is due primarily toconsumption related to weather in the summer of 2010 and a rate increase of 24.7%.

The change in residual interest in sold liens decreased by $3.9 million.

Connection fees and permits increased by $3.7 million or 47.8% due to increased new construction activity.

Federal funding was received by the Water Board in fiscal 2011 to support technical assistance in developinga Contamination Warning System Demonstration Pilot Program.


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- 5 -

I nvestment Income

2012-2011

Investment income increased by $10.6 million or 27.7%. The increase was due to a reduction of theunrealized loss on the agreements to purchase securities in fiscal 2012 of $6.1 million compared to a loss of$14.4 million in fiscal 2011. The reduction is primarily due to the maturity of a portion of the agreements topurchase securities. The fair values of the contracts change as a result of changes in market interest rates.

2011-2010

Investment income decreased by $27.4 million or 41.7%. The decrease was due to lower interest rates oninvested assets and an unrealized loss of $14.4 million due to the change in the fair market value ofagreements to purchase securities in fiscal 2011 compared to a loss of $0.3 million in fiscal 2010. The fairvalues of the contracts change as a result of changes in market interest rates.

Operati ng Expenses

2012-2011

Operations and maintenance expenses increased by $78.5 million or 6.1% due primarily to an increase in thefringe benefit rate applicable to City employees from 30% in fiscal year 2011 to 46% in fiscal year 2012.Water Board general and administrative expenses increased by approximately $2.5 million, primarily due toexpenditures incurred under new contracts. Water Authority general and administrative expenses increased by$4.5 million primarily due to remarketing and liquidity fees in connection with new variable rate debt.

2011-2010

Operations and maintenance expenses decreased by $245.3 million or 15.9% because of a large collective

bargaining settlement that had increased operations and maintenance costs in fiscal 2010. Water Boardgeneral and administration expenses decreased by $3.4 million due to decreases in certain outside contractorcosts. Water Authority general and administration expenses increased by $3.6 million primarily for increasesin fees related to variable rate debt.

Non-operating Expenses

2012-2011

Interest expense increased by $18.4 million or 1.6%, primarily due to an increase in bonds outstanding of$1.5 billion or 5.5%.

2011-2010

Interest expense increased by $158.6 million or 15.6%, primarily due to an increase in bonds outstanding of$2.5 billion or 10.6%.


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- 6 -

Changes in Net Assets

2012-2011

The change in net assets represents the net total of operating income, non-operating losses, and capitalcontributions. Net assets increased by $12.0 million in fiscal year 2012.

2011-2010

The change in net assets represents the net total of operating income, non-operating losses, and capitalcontributions. Net assets decreased by $72.4 million in fiscal year 2011.

Following is a summary of the Systems assets, liabilities and net assets as of June 30, (in thousands):

2012 2011 2010 2012 v 2011 2011 v 2010

Current assets 2,496,428$ 2,251,021$ 2,132,321$ 245,407$ 118,700$Residual interest in sold liens 51,777 39,000 40,734 12,777 (1,734)

Deferred outflows from hedging 134,752 53,216 71,930 81,536 (18,714)

Deferred bond and financing expenses 176,618 176,139 163,703 479 12,436Capital assets 26,474,776 24,988,836 23,016,469 1,485,940 1,972,367

Total assets 29,334,351$ 27,508,212$ 25,425,157$ 1,826,139$ 2,083,055$

Long-term liabilities 27,914,458$ 26,115,749$ 23,549,533$ 1,798,709$ 2,566,216$Current liabilities 1,760,745 1,745,351 2,156,141 15,394 (410,790)

Total liabilities 29,675,203 27,861,100 25,705,674 1,814,103 2,155,426

Net assets (deficit): Invested in capital assets net of

related debt (372,021) (215,322) 920,728 (156,699) (1,136,050)

Restricted for debt service 687,656 573,461 239,192 114,195 334,269

Restricted for operations and

maintenance 212,885 199,636 191,772 13,249 7,864Unrestricted (deficit) (869,372) (910,663) (1,632,209) 41,291 721,546

Total net (deficit) assets (340,852) (352,888) (280,517) 12,036 (72,371)

Total liabilities and net assets 29,334,351$ 27,508,212$ 25,425,157$ 1,826,139$ 2,083,055$

ariance

2012-2011

Current assets increased by $245.4 million or 10.9%. The increase is due to an increase in monies held by theAuthority for debt service in fiscal 2013.

Deferred outflows from hedging increased by $81.5 million due to a decrease in the fair value of the hedgingderivative instruments.

Long term liabilities increased by $1.8 billion primarily due to the increase in long term portion of bondspayable of $1.5 billion.

Pollution remediation obligations have increased by $5.6 million.


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- 7 -

Current liabilities increased by $15.4 million or less than 1%, primarily due to an increase of $15.9 million inthe service credits on customer accounts.

2011-2010

Current assets increased by $118.7 million or 5.6%. The increase is due to excess monies held by theAuthority for debt service in fiscal 2012.

Deferred outflows from hedging decreased by $18.7 million due to an increase in the fair value of the hedgingderivative instruments.

Long term liabilities increased by $2.6 billion primarily due to the increase in long term portion of bondspayable of $2.5 billion.

Pollution remediation obligations have increased by $28.4 million.

Current liabilities decreased by $410.8 million or 19.1% primarily due to a decrease of $285.6 million in theamount payable to The City primarily for capital costs, a decrease of $200 million in commercial paper notespayable, and offset by other changes.


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- 8 -

Capital Assets

The Systems capital assets include buildings, equipment, vehicles, water supply and distribution andwastewater collection and treatment systems. Capital assets as of June 30, are detailed as follows (in

thousands):

2012 2011 2010 2012 v 2011 2011 v 2010

Nondepreciable assets Utility plantunder construction 8,422,470$ 7,804,563$ 6,112,362$ 617,907$ 1,692,201$

Utility plant in service:

Buildings 34,877 34,877 24,193 - 10,684

Equipment 2,014,704 1,723,907 1,538,451 290,797 185,456

Vehicles 150,531 150,591 157,179 (60) (6,588)

Water supply, treatment anddistribution, and sewage collection,

treatment and disposal systems 25,669,088 24,407,185 23,740,818 1,261,903 666,367

Total utility plant in service 27,869,200 26,316,560 25,460,641 1,552,640 855,919

Less accumulated depreciation for:

Buildings (19,820) (18,447) (16,444) (1,373) (2,003)Equipment (790,180) (667,675) (573,595) (122,505) (94,080)

Vehicles (98,639) (93,086) (98,852) (5,553) 5,766

Water supply, treatment and

distribution, and sewage collection, treatment and disposal systems (8,908,255) (8,353,079) (7,867,643) (555,176) (485,436)

Total accumulated depreciation (9,816,894) (9,132,287) (8,556,534) (684,607) (575,753)

Total net utility plant in service 18,052,306 17,184,273 16,904,107 868,033 280,166

Total capital assets net 26,474,776$ 24,988,836$ 23,016,469$ 1,485,940$ 1,972,367$

ariance

The increase in the Systems capital assets, net of depreciation during fiscal 2012 was $1.5 billion or 5.9%.Capital asset additions for fiscal 2012 were $2.3 billion. See Note 3 (Utility Plant) for further details.

The increase in the Systems capital assets, net of depreciation during fiscal 2011 was $1.9 billion or 8.6%.Capital asset additions for fiscal 2011 were $2.6 billion. See Note 3 (Utility Plant) for further details.

Debt Administration

The Authority issues debt to pay for the capital improvements to the System and certain related costs. Certaincosts related to the Systems filtration avoidance determination, including land acquisition in the upstatewatershed, costs for parks improvements related to the Croton filtration plant, and costs associated withpollution remediation are financed with debt, but they are not recorded as Systems assets on the balancesheet. These costs or distributions are reported as expenses in the Systems combining statements of revenues,expenses and changes in net assets (deficit) in the years incurred. Land purchased is granted to The City andbecomes The Citys capital asset because it is not subject to the capital lease under which the System reportswater supply, treatment and distribution and sewer collection and treatment capital assets.


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- 9 -

The debt program of the Authority includes commercial paper, long-term debt of the Authority and a bondanticipation note and subsidized bonds issued through the New York State Environmental FacilitiesCorporation (EFC). The commercial paper program is the main source of financing to reimburse The Cityfor payments made for water and sewer projects. The Authority then issues long-term debt of its own orthrough EFC to retire outstanding commercial paper. The Authority also periodically issues refunding bondsto refinance higher-coupon debt. See Note 9 (Short Term Debt) and Note 10 (Long-Term Debt) for furtherdetails.

At June 30, 2012, the total outstanding debt of the System was $28.4 billion, of which $400 million wascommercial paper and $108.1 million was outstanding against bond anticipation notes issued to EFC. Theremaining $27.9 billion consisted of variable and fixed-rate bonds maturing in varying installments through2045. The total outstanding long-term debt at June 30, 2012 was as follows (in thousands):

Issue Date

2012 3,735,182$

2011 4,541,2052010 3,114,6242009 3,481,1042008 2,813,3392007 and prior 10,292,825

Total long-term debt 27,978,279$

In the summary above, bonds retired through refunding in fiscal 2012 are removed from the year in which therefunded bonds were issued, and the refunding bonds are included in the fiscal 2012 amount.

In fiscal 2012, the Authority issued $3.0 billion of water and sewer revenue bonds directly to the public,including $857.4 million of refunding bonds and $2.2 billion of new money bonds. The Authority also issued$669.3 million of Clean Water and Drinking Water State Revolving Fund (SRF) bonds to EFC, all of whichwere refunding bonds. The Authority also drew down an additional $55.7 million against its Fiscal 2010Series 1 bond anticipation note issued to EFC. The Authority used new money bond proceeds to financecapital improvements to the System, to provide long-term financing of commercial paper notes, which hadpreviously financed capital improvements to the system, and to pay the costs of issuance on the bonds.

On September 22, 2011, the Authority issued $450.9 million of new money and refunding tax-exempt fixedrate Second General Resolution bonds, Fiscal 2012 Series AA General Bonds. The new money bondsincluded a term bond maturing in 2044. The Authority used the new money bond proceeds to pay for capitalimprovements to the System and to pay the costs of issuance of the bonds. The refunding bonds refundedportions of the Authoritys outstanding First Resolution 2001C and 2002G bonds. The refunding bondsincluded serial bonds maturing from 2032 through 2034.

On September 29, 2011, the Authority issued $200 million of new money tax-exempt adjustable rate bondsunder its First General Resolution, Fiscal 2012 Series A-1 and A-2 bonds. The bonds are backed by a standbybond purchase agreement from a bank. These bonds will mature in 2044 and were used to refund theAuthoritys commercial paper notes.

Additionally, on September 29, 2011, EFC entered into an agreement to provide the Authority a direct loan inan amount up to $30 million. The Authority expects to receive these funds to pay for certain capital projectsover the next several years. As of June 30, 2012, the Authority has not drawn on this loan.

On November 29, 2011, the Authority issued $450 million of new money tax-exempt fixed rate SecondGeneral Resolution Revenue bonds, Fiscal 2012 Series BB. This bond issue included term bonds maturing in


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2039 and 2044. The Authority used proceeds to pay for capital improvements to the System, refundcommercial paper notes, and to pay the costs of issuance of the bonds.

On January 30, 2012, the Authority issued $350 million of new money tax-exempt fixed rate Second General

Resolution Revenue bonds, Fiscal 2012 Series CC and $50 million of Fiscal 2012 Series DD bonds. TheSeries CC bond issue included a term bond maturing in 2045 and the Series DD bond issue included tworefundable principal installment bonds maturing in 2018 and 2027. The Authority used proceeds to pay forcapital improvement to the System, refund commercial paper notes, and to pay the costs of issuance of thebonds.

On March 19, 2012, the Authority issued $522.5 million of new money and refunding tax-exempt fixed rateSecond General Resolution Revenue Bonds, Fiscal 2012 Series EE bonds. The new money bonds included aterm bond maturing in 2045. The refunding bonds refunded portions of the Authoritys outstanding FirstResolution 2001 A, 2004 B, and 2004 C bonds and the Authoritys outstanding Second General Resolution2007 DD bonds. The refunding bonds included serial bonds maturing from 2019 through 2039. The Authorityused the new money bond proceeds to refund commercial paper issuance and to pay the costs of issuance ofthe bonds.

On March 27, 2012, the Authority issued $325 million of new money tax-exempt adjustable rate FirstResolution Revenue Bonds, Fiscal 2012 Series B bonds. The bonds will mature in 2045. The Authority usedthe proceeds to pay for capital improvements to the System, refund commercial paper notes, and to pay thecosts of issuance of the bonds.

On May 31, 2012, the Authority issued $669.4 million of Second General Resolution fixed-rate, refunding,Fiscal 2012 Series 2 and 3 bonds to EFC. The source of funds to the Authority for its Series 2 bonds was fromtax-exempt bonds issued by EFC (2012 A). The source of funds for the Authoritys Series 3 bonds was SRFprogram funds. All proceeds from the issuance will refund the entire par amount outstanding of EFCs 2002B, D, and J bonds (except for the 2012 maturity in each series) and the Authoritys Fiscal 2002 Series 3, 4 and5 bonds and its 2003 Series 1 bonds, issued to EFC as security for EFC bonds being refunded.

On June 28, 2012, the Authority issued $611.7 million of new money and refunding tax-exempt fixed rateSecond General Resolution Revenue Bonds, Fiscal 2012 Series FF and $50 million of new money tax-exemptfixed rate Fiscal 2012 Series GG bonds. The 2012 Series FF bond issue refunded $33.3 million of theAuthoritys outstanding First Resolution 2003 Series A, $41.3 million of its 2004 Series C, and$147.9 million of its 2005 Series B bonds. The 2012 Series GG bond issue included two refundable principalinstallment bonds maturing in 2017 and 2019. The Authority used the new money bond proceeds to financecapital improvements to the System, refund commercial paper notes, and to pay the costs of issuance of thebonds.

Economic Factors and Next Years Rates

Rates are adopted each year by the Board in May for the following fiscal year. A rate increase of 7% for fiscal2013, based on projected revenues and cost, became effective July 1, 2012.

Request for Information

This financial report is provided as an overview of the Systems finances. Questions concerning any of theinformation in this report or requests for additional information should be directed to Raymond Orlando,Director of Media and Investor Relations, New York City Municipal Water Finance Authority, 255Greenwich Street, New York, New York 10007. His phone number is (212) 788-5875 and his fax number is(212) 788-9721.

* * * * * *


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COMBINING BALANCE SHEET

JUNE 30, 2012

(In thousands)

Municipal Water

Water Board Finance Authority Eliminations Total

ASSETS

CURRENT ASSETS:

Unrestricted cash and cash equivalents 5,453$ 7$ -$ 5,460$

Restricted cash and cash equivalents 49 1,158,351 - 1,158,400Restricted investments 212,836 391,836 - 604,672

Accrued interest and subsidy receivable - 27 - 27

Accounts receivable:

Billed less allowance for uncollectable water

and sewer receivables of $339,317 370,643 - - 370,643

Unbilled 294,855 - - 294,855Receivable from The City of New York 62,371 - - 62,371

Total current assets 946,207 1,550,221 - 2,496,428

NON-CURRENT ASSETS: Utility plant in service less accumulated

depreciation of $9,816,893 18,052,306 - - 18,052,306 Utility plant construction 8,422,470 - - 8,422,470

Total capital assets 26,474,776 - - 26,474,776

Residual interest in sold liens 51,777 - - 51,777Deferred outflows from hedging - 134,752 - 134,752

Long-term deferred bond and financing expenses - 176,618 - 176,618Revenue required to be billed by and received

from the Board - 16,044,536 (16,044,536) -

Total non-current assets and deferred items 26,526,553 16,355,906 (16,044,536) 26,837,923

TOTAL 27,472,760$ 17,906,127$ (16,044,536)$ 29,334,351$

See notes to combining financial statements. (Continued)

New York City


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JUNE 30, 2011

(In thousands)

Municipal Water


ASSETS

CURRENT ASSETS:

Unrestricted cash and cash equivalents 14,866$ 9$ -$ 14,875$

Restricted cash and cash equivalents 173,276 1,045,479 - 1,218,755

Restricted investments 26,360 340,397 - 366,757

Accrued interest and subsidy receivable - 24 - 24

Accounts receivable: Billed less allowance for uncollectible water

and sewer receivables of $310,776 340,039 - - 340,039

Unbilled 274,283 - - 274,283Receivable from The City of New York 36,288 - - 36,288

Total current assets 865,112 1,385,909 - 2,251,021

NON-CURRENT ASSETS:

Utility plant in service less

accumulated depreciation of $9,132,287 17,184,273 - - 17,184,273 Utility plant construction 7,804,563 - - 7,804,563

Total capital assets 24,988,836 - - 24,988,836

Residual interest in sold liens 39,000 - - 39,000

Deferred outflows from hedging - 53,216 - 53,216

Long-term deferred bond and financing expenses - 176,139 - 176,139Revenue required to be billed by and received

from the Board - 15,519,332 (15,519,332) -

Total non-current assets and deferred items 25,027,836 15,748,687 (15,519,332) 25,257,191

TOTAL 25,892,948$ 17,134,596$ (15,519,332)$ 27,508,212$


New York City


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JUNE 30, 2011

(In thousands)

Municipal Water


LIABILITIES AND NET ASSETS

LONG-TERM LIABILITIES:

Bonds and notes payable net of current portion -$ 26,078,417$ -$ 26,078,417$

Net premium on bonds and notes payable - 197,357 - 197,357Unamortized deferred bond refunding costs - (300,850) - (300,850)

Pollution remediation obligation 102,652 - - 102,652

OPEB Liability - 699 - 699

Interest rate swap agreement net - 37,474 - 37,474Revenue requirements payable to the Authority 15,519,332 - (15,519,332) -

Total long-term liabilities 15,621,984 26,013,097 (15,519,332) 26,115,749

CURRENT LIABILITIES:

Accounts payable and accrued expenses 45,052 61,618 - 106,670

Revenue received in advance 61,517 - - 61,517

Commercial paper payable - 400,000 - 400,000

Current portion of bonds and notes payable - 430,452 - 430,452

Payable to The City of New York - 682,345 - 682,345Service credits on customer accounts 64,367 - - 64,367

Total current liabilities 170,936 1,574,415 - 1,745,351

Total liabilities 15,792,920 27,587,512 (15,519,332) 27,861,100

NET ASSETS:

Invested in capital assets net of related debt 24,988,836 (25,204,158) - (215,322)

Restricted for debt service - 573,461 - 573,461

Restricted for operations and maintenance 199,636 - - 199,636Unrestricted (deficit) (15,088,444) 14,177,781 - (910,663)

Total net assets (deficit) 10,100,028 (10,452,916) - (352,888)

TOTAL 25,892,948$ 17,134,596$ (15,519,332)$ 27,508,212$

See notes to combining financial statements. (Concluded)

New York City


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COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS

YEAR ENDED JUNE 30, 2012

(In thousands)

Municipal Water

Water Board Finance Authority Total

OPERATING REVENUES: Water supply and distribution 1,238,352$ -$ 1,238,352$Sewer collection and treatment 1,857,527 - 1,857,527Other operating revenues 140,595 - 140,595

Total operating revenues 3,236,474 - 3,236,474

OPERATING EXPENSES: Operation and maintenance 1,373,038 - 1,373,038Bad debt expense 28,541 - 28,541Administration and general 9,478 37,924 47,402Other operating expenses 73,814 - 73,814

Total operating expenses 1,484,871 37,924 1,522,795

DEPRECIATION AND AMORTIZATION 692,296 41,129 733,425

OPERATING INCOME (LOSS) 1,059,307 (79,053) 980,254

NON-OPERATING REVENUE (EXPENSES): Interest expense - (1,196,647) (1,196,647)Loss on retirement of capital assets (1,646) - (1,646)Subsidy income - 196,241 196,241Capital distribution (42,005) - (42,005)Investment income 239 48,697 48,936

NET INCOME (LOSS) BEFORE CAPITAL CONTRIBUTIONS 1,015,895 (1,030,762) (14,867)

CAPITAL CONTRIBUTION 26,903 - 26,903

CHANGE IN NET ASSETS 1,042,798 (1,030,762) 12,036

NET ASSETS (DEFICIT) Beginning of year 10,100,028 (10,452,916) (352,888)

NET ASSETS (DEFICIT) End of year 11,142,826$ (11,483,678)$ (340,852)$

See notes to combining financial statements.

New York City


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COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS (DEFICIT)


(In thousands)

Municipal Water


OPERATING REVENUES: Water supply and distribution 1,158,977$ -$ 1,158,977$Sewer collection and treatment 1,797,777 - 1,797,777Other operating revenues 111,552 - 111,552

Total operating revenues 3,068,306 - 3,068,306

OPERATING EXPENSES: Operation and maintenance 1,294,533 - 1,294,533Bad debt expense 76,799 - 76,799Administration and general 6,409 34,015 40,424Other operating expenses 103,334 - 103,334

Total operating expenses 1,481,075 34,015 1,515,090

DEPRECIATION AND AMORTIZATION 593,996 34,343 628,339

OPERATING INCOME (LOSS) 993,235 (68,358) 924,877

NON-OPERATING REVENUE (EXPENSES): Interest expense - (1,178,226) (1,178,226)Loss on retirement of capital assets (3,426) - (3,426)Subsidy income - 180,986 180,986Capital distribution (53,591) - (53,591)Investment income 672 37,641 38,313

NET INCOME (LOSS) BEFORE CAPITAL CONTRIBUTIONS 936,890 (1,027,957) (91,067)

CAPITAL CONTRIBUTION 18,696 - 18,696

CHANGE IN NET ASSETS 955,586 (1,027,957) (72,371)

NET ASSETS (DEFICIT) Beginning of year 9,144,442 (9,424,959) (280,517)

NET ASSETS (DEFICIT) End of year 10,100,028$ (10,452,916)$ (352,888)$

See notes to combining financial statements.

New York City


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COMBINING STATEMENT OF CASH FLOWS


(In thousands)

Municipal Water


CASH FLOWS FROM OPERATING ACTIVITIES:

Receipts from customers 3,147,038$ -$ 3,147,038$

Payments for operations and maintenance (1,399,122) - (1,399,122) Payments for administration (6,373) (37,557) (43,930)

Net cash provided by (used in) operating activities 1,741,543 (37,557) 1,703,986

CASH FLOWS FROM CAPITAL AND RELATED FINANCING

ACTIVITIES: Proceeds from issuing bonds, notes and other

borrowings net of issuance costs - 5,039,373 5,039,373

Acquisition and construction of capital assets 293 (2,267,908) (2,267,615)

Payments by the Board to the Authority (1,738,239) 1,738,239 -

Repayments of bonds, notes and other borrowings - (3,344,945) (3,344,945) Interest paid on bonds, notes and other borrowings - (1,002,007) (1,002,007)

Net cash (used in) provided by capital and related financing activities (1,737,946) 162,752 (1,575,194)

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sales and maturities of investments - 49,541 49,541

Purchase of investments (187,260) (105,823) (293,083)Interest on investments 1,023 43,957 44,980

Net cash used in investing activities (186,237) (12,325) (198,562)

NET (DECREASE) INCREASE IN CASH AND

CASH EQUIVALENTS (182,640) 112,870 (69,770)

CASH AND CASH EQUIVALENTS Beginning of year 188,142 1,045,488 1,233,630

CASH AND CASH EQUIVALENTS End of year 5,502$ 1,158,358$ 1,163,860$


New York City


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(In thousands)

Municipal Water


RECONCILIATION OF OPERATING (LOSS) INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES:

Operating income (loss) 1,059,307$ (79,053)$ 980,254$

Adjustments to reconcile operating income (loss) to net

cash provided by operating activities:

Depreciation and amortization 692,296 41,129 733,425

Operations and maintenance expense paid for with bond proceeds 44,092 - 44,092

Pollution remediation expense 24,074 - 24,074

Changes in assets and liabilities (net):

Pollution remediation liability 5,648 - 5,648Receivables net (51,176) - (51,176)

Receivable from The City (26,083) (25) (26,108)

Residual interest in sold liens (12,777) - (12,777)

Accounts payable 472 392 864

Revenues received in advance (10,221) - (10,221)Service credits on customer accounts 15,911 - 15,911

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 1,741,543$ (37,557)$ 1,703,986$

The following are the noncash capital and related financing activities:

Interest expense includes the amortization of net (premium) and discount in the amount of $17,493 in 2012.

Capital expenditures in the amount $677,880 had been incurred but not paid at June 30, 2012.

The Board received capital assets of $26,611 in 2012 which represented capital contributed by The City.

The Board received capital assets of $292 in 2012 which represented capital contributed by Westchester County.

See notes to combining financial statements. (Concluded)

New York City


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(In thousands)

Municipal Water


CASH FLOWS FROM OPERATING ACTIVITIES:

Receipts from customers 2,922,730$ -$ 2,922,730$

Payments for operations and maintenance (1,242,579) - (1,242,579) Payments for administration (3,826) (33,419) (37,245)

Net cash provided by (used in) operating activities 1,676,325 (33,419) 1,642,906

CASH FLOWS FROM CAPITAL AND RELATED FINANCING

ACTIVITIES:

Proceeds from issuing bonds, notes and other

borrowings net of issuance costs - 6,410,737 6,410,737

Acquisition and construction of capital assets - (2,965,506) (2,965,506) Payments by the Board to the Authority (1,661,360) 1,661,360 -

Repayments of bonds, notes and other borrowings - (4,069,142) (4,069,142) Interest paid on bonds, notes and other borrowings - (956,950) (956,950)

Net cash (used in) provided by capital and related financing activities (1,661,360) 80,499 (1,580,861)

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sales and maturities of investments 1,134 75,289 76,423

Purchases of investments - (80,969) (80,969)Interest on investments 706 51,463 52,169

Net cash provided by (used in) investing activities 1,840 45,783 47,623

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 16,805 92,863 10

nyc water & sewer system fy 2012 financials

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