Board meetings, strategic plans, and buyer signals from Katie Ballah’s organization
Oct 29, 2024·BoardMeeting
Board
Finance Committee Meeting
The Finance Committee reviewed the minutes of the September 5, 2024 meeting and made a recommendation to the Board of Directors regarding the approval of a resolution authorizing the issuance of Fiscal 2025 Series 1 Bond Anticipation Notes. A key discussion point involved the planned issuance of up to $1.2 billion of Fiscal 2025 Series AA Water & Sewer System Second General Resolution Revenue Bonds, with an expected issuance of $900 million, broken into two subseries: Fiscal 2025 AA-1 (approximately $600 million of fixed-rate bonds) and Fiscal 2025 AA-2 (approximately $130 million of refunding bonds).
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The board meeting covered several key items. The board accepted the independent auditors' report on the Water & Sewer System's audited financial statements for fiscal years 2023 and 2024. Investment guidelines were approved, along with the Authority's Investment Report. An assignment of the Financial Advisor Agreement to NW Financial Holdings was approved, as was an agreement with Omnicap Group LLC to serve as an arbitrage consultant. Finally, the Authority's Mission Statement and Performance Measures were approved, and authorization was given to publish the Measurement Report. A Governance Committee report was also presented.
Oct 7, 2024·BoardMeeting
Board
Governance Committee Meeting
The Governance Committee meeting involved a review of the 2024 compensation and benefits, a self-evaluation and discussion of a presentation to the Board of Directors, and a review of the Authority's Policy on the Procurement of Goods and Services. The committee approved the minutes of the October 11, 2023 meeting.
Oct 7, 2024·BoardMeeting
Board
Joint Audit Committee Meeting of The New York City Municipal Water Finance Authority and The New York City Water Board
The Joint Audit Committee meeting involved the review and approval of the Audit Committee's annual report and self-evaluation, a presentation by Grant Thornton LLP regarding the planned fiscal year 2023 audit, and a resolution recommending the approval of a contract with Grant Thornton to provide independent auditor services for fiscal years 2024-2027. The committee also reviewed and approved the audited financial statements for fiscal years 2023 and 2024.
Extracted from official board minutes, strategic plans, and video transcripts.
