July (pdf) - New York Power Authority

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The senior management staff of the Authority includes the following: Richard M. Kessel, President and Chief Executive Officer; Gil C. Quiniones, Chief Operating Officer; Elizabeth M. McCarthy, Executive Vice President and Chief Financial Officer; Edward A. Welz, Executive Vice President and Chief Engineer-Power Supply; Francine Evans, Executive Vice President, Chief Administrative Officer and Chief of Staff; Judith C. McCarthy, Acting General Counsel; Donald A. Russak, Senior Vice President - Corporate Planning and Finance; James F. Pasquale, Senior Vice President, Marketing and Economic Development; Thomas P. Antenucci, Senior Vice President-Power Supply Support Services; Steven J. DeCarlo, Senior Vice President - Transmission; William J. Nadeau, Senior Vice President - Energy Resource Management; Jordan Brandeis, Senior Vice President, Power Resource Planning and Acquisition; Paul W. Belnick, Acting Senior Vice President-Energy Service and Technology; Thomas J. Concadoro, Vice President and Controller; Scott B. Scholten, Vice President and Chief Risk Officer; and Brian C. McElroy, Treasurer. See ‘‘PART 2—APPENDIX 2—BACKGROUNDS OF THE AUTHORITY’S TRUSTEES AND CERTAIN SENIOR MANAGEMENT STAFF.’’ Executive Management Committee The Authority’s Executive Management Committee periodically reviews corporate strategies, policies and programs, and reports, with the Chairman’s concurrence, to the Board of Trustees. Currently, the Executive Management Committee includes the President and Chief Executive Officer, the Chief Operating Officer, the Executive Vice President and Chief Financial Officer, the Executive Vice President and Chief Engineer-Power Supply; the Executive Vice President and Chief Administrative Officer; the Acting General Counsel; and certain other members of the senior management staff of the Authority designated by the President and Chief Executive Officer. 2-2
CERTAIN FINANCIAL AND OPERATING MATTERS The Authority’s financial statements are prepared on an accrual basis in accordance with generally accepted accounting principles. The financial statements for the years ended December 31, 2009 and December 31, 2010, were audited by KPMG LLP, independent auditors, whose reports dated March 12, 2010 and March 29, 2011, respectively expressed unqualified opinions on those statements. The financial statements for the year ended December 31, 2008 were audited by other auditors whose report dated February 26, 2009 expressed an unqualified opinion on those statements. Pursuant to continuing disclosure agreements entered into in connection with certain of the Authority’s outstanding debt, the financial statements for the years ended December 31, 2008 and December 31, 2009, respectively, were filed with the then existing nationally recognized municipal securities information repositories. The financial statements for the year ending December 31, 2010 were provided to the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access (“EMMA”) system. Historical Net Income The net income of the Authority for the three years ended December 31, 2010, derived from the Statements of Revenues, Expenses and Changes in Net Assets in the financial statements of the Authority for the years ended December 31, 2010, December 31, 2009 and December 31, 2008, are summarized below: Summary Statements of Net Income (In millions) 2010 2009 2008 Operating revenues $2,568 $2,595 $3,185 Operating expenses Purchased power…………………………………………………… 931 905 1.242 Fuel………………………………………………………………… 224 366 615 Operations and maintenance……………………………………… 443 438 456 Wheeling…………………………………………………………… 528 436 388 Depreciation………………………………………………………... 163 164 173 Total operating expenses…………………………………………… 2,289 2,309 2,874 Operating income 279 286 311 Nonoperating revenues……………………………………………… 138 132 164 Nonoperating expenses………………………………………………. 236 165 176 Net income $181 $253 $299 Management’s Discussion of Financial Results and Operations For a more complete statement of management’s discussion and analysis, see pages 22-30 of the Authority’s financial statements for the year ended December 31, 2010. Financial Results and Operations—2010 vs 2009 Summary The Authority had net income of $181 million in the year 2010, compared to $253 million in 2009. This $72 million decrease in net income is primarily due to higher nonoperating expenses ($65 million) as a result of higher voluntary contributions to New York State. Operating income was slightly lower ($7 million) than the prior year. Lower fuel costs and higher purchased power expenses in 2010 were substantially attributable to changes in resources utilized to serve the Authority’s Southeast New York 2-3
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MINUTES OF THE REGULAR MEETING OF T
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July 26, 2011 Minutes of the Regula
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July 26, 2011 Introduction Chairman
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July 26, 2011 a. Approval of the Mi
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July 26, 2011 “Following a review
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July 26, 2011 3. a. Report of the P
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July 26, 2011 b. Report of the Chie
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July 26, 2011 4. Proposed Expansion
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July 26, 2011 average of 15.1 new j
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July 26, 2011 RESOLVED, That the Ch
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July 26, 2011 Section I Non-Complia
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July 26, 2011 Recommendation: Staff
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July 26, 2011 Niagara LaSalle Corpo
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July 26, 2011 The Carriage House Co
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July 26, 2011 RESOLVED, That the Ch
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July 26, 2011 commitments. Thus, cu
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July 26, 2011 7. Increase in Hydroe
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July 26, 2011 (f) Use of the RSR fo
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July 26, 2011 “The proposed actio
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July 26, 2011 RESOLVED, That the Se
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July 26, 2011 work, is capable of c
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July 26, 2011 “On May 24, 2011, n
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July 26, 2011 any and all actions a
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July 26, 2011 “The window replace
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July 26, 2011 11. Amended and Resta
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July 26, 2011 13. Amendments to the
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July 26, 2011 15. Motion to Conduct
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July 26, 2011 17. Election of Actin
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July 26, 2011 19. Next Meeting The
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July 26, 2011 EXHIBITS For July 26,
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July 26, 2011- NYPA Trustees’ Mee
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July 26, 2011- NYPA Trustees’ Mee
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Exhibit “A” Economic Developmen
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served by the 51 municipal and coop
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Generation revenue in June was $176
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In June, NYPA finalized a position
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GLOSSARY 1 Net Generation - The ene
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as a single regional compliance mar
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Report of the Chief Financial Offic
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RESULTS OF OPERATIONS Net Income Si
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RESULTS OF OPERATIONS 140 120 100 8
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RESULTS OF OPERATIONS 180 O&M Expen
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CASH AND LIQUIDITY INVESTMENT PORTF
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DEBT Unhedged Variable Rate 12% Deb
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Exhibit 1: Average August to Decemb
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New York Power Authority Financial
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New York Power Authority Exhibit "4
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APPLICATION SUMMARY Expansion Power
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July 26, 2011 Exhibit “4-B-1” P
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WHEREAS, the Customer has completed
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R. Replacement Power (or RP) is 445
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the Service Tariff shall govern. In
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X. Transition of Allocation to WNY
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XVII. Waiver A. Any waiver at any t
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SCHEDULE A TO AGREEMENT FOR THE SAL
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United States Department of Labor (
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APPENDIX TO SCHEDULE B Base Employm
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The POWER AUTHORITY OF THE STATE OF
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D. Electric Service is the Firm Pow
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C. The Contract Demand for the Cust
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Charges associated with the Allocat
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B. Except where otherwise herein sp
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AGREED: TRY-IT DISTRIBUTING CO., IN
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SCHEDULE B TO AGREEMENT FOR THE SAL
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eduction of the Contract Demand to
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July 26, 2011 Exhibit “5-A-1” C
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July 26, 2011 Exhibit “A-2” Com
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New York Power Authority Preliminar
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New York Power Authority 2011 Preli
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Discussion The attached preliminary
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Added to the O&M for ratemaking pur
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The capital costs (both debt- and e
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2012 to 2014 costs, respectively. T
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The proposed demand and energy rate
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NEW YORK POWER AUTHORITY HYDROELECT
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Table 1 EMBEDDED COSTS FOR ANCILLAR
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Table 3 EMBEDDED COSTS FOR BLACK ST
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Table 5 EMBEDDED COSTS FOR OPERATIN
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TABLE OF CONTENTS Page ARTICLE I DE
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“Commercial Paper Rate Mode” me
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“Term Rate Mode” means the mode
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Chairman, President and Chief Execu
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Beneficial Owners to receive paymen
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(l) any other provisions deemed adv
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306. Delivery of Bonds. Except as o
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(a) The General Resolution has not
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APPENDIX A [FORM OF BONDS] No. 2011
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To the extent and in the manner per
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IN WITNESS WHEREOF, POWER AUTHORITY
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FORM OF ASSIGNMENT ASSIGNMENT FOR V
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POWER AUTHORITY OF THE STATE OF NEW
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Implementation of any refunding wil
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under the Securities Exchange Act o
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executing officer deems in his or h
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EXHIBITS Exhibit 1: Amended and Res
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$___,___,000 Series 2011 A Bonds SE
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Page 213 and 214: Rate Covenant......................
Page 215 and 216: Registration of the 2011 Bonds.....
Page 221 and 222: through purchased power (see ‘‘
Page 223 and 224: Trust Estate The Trust Estate consi
Page 225 and 226: and such pledge shall be subordinat
Page 227 and 228: Optional Redemption The 2011 Bonds
Page 229 and 230: casualty and life insurance compani
Page 231 and 232: “OID” is the excess of (i) the
Page 233 and 234: The specific nature of the informat
Page 237 and 238: 3. The 2011 Bonds have been duly an
Page 241 and 242: 4. To facilitate subsequent transfe
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Page 247 and 248: year in which the change is made sh
Page 249 and 250: (vii) modifications to rights of Bo
Page 251 and 252: IN WITNESS WHEREOF, the parties hav
Page 253 and 254: APPENDIX D LITIGATION Land Claims (
Page 255 and 256: the costs of such pending claims, o
Page 257 and 258: PART 2 of the OFFICIAL STATEMENT of
Page 259 and 260: TABLE OF CONTENTS FOR PART 2 THE AU
Page 261: PART 2 of the OFFICIAL STATEMENT of
Page 265 and 266: 500-MW Plant and Cessation of Opera
Page 267 and 268: enefits from cash from operations.
Page 269 and 270: The Authority may issue additional
Page 271 and 272: Enterprise Risk management program,
Page 273 and 274: needs at any point in time. Unless
Page 275 and 276: NYISO Capacity Requirements Matters
Page 277 and 278: equirements of certain municipal el
Page 279 and 280: (a) Industrial Power Programs The 2
Page 281 and 282: withdrawn by the Authority on Augus
Page 283 and 284: improved energy efficiency and clea
Page 285 and 286: development purposes within St. Law
Page 287 and 288: approved to receive Awards, with to
Page 289 and 290: transmission facilities tariff on f
Page 291 and 292: THE AUTHORITY’S FACILITIES Genera
Page 293 and 294: eservoir, and power transformation
Page 295 and 296: (6) Out-of-State Power Allocations
Page 297 and 298: SCPPs To meet potential capacity de
Page 299 and 300: east from the St. Lawrence Project
Page 301 and 302: to predict whether any such bills o
Page 303 and 304: esponsibility for purchasing energy
Page 305 and 306: Commission in the coming months.[up
Page 307 and 308: could potentially result in signifi
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whether negotiable or non-negotiabl
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Operating Expenses means the Author
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Qualified Swap. Rating Agency means
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eimbursement are equal to the amort
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Capital Fund The General Resolution
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(General Resolution, Secs. 801, 802
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APPENDIX 2 BACKGROUNDS OF THE AUTHO
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Eugene L. Nicandri, Trustee Judge E
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Francine Evans, Executive Vice Pres
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Jordan Brandeis, Senior Vice Presid
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Exhibit “12-A” July 26, 2011 GO
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c. Advise the Board of Trustees on
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GOVERNANCE COMMITTEE CHARTER Exhibi
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d. Periodically review and as neces
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Exhibit “13-A” Editing Note: Th
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ARTICLE VII - FISCAL MANAGEMENT 7 S
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Section 2. Annual Meeting The annua
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as he or she may deem necessary in
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are carried out for and reported to
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and shall report on and make recomm
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Section 4. Capital Expenditure Plan
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Exhibit “13-B" July 26, 2011 BY-L
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ARTICLE VII - FISCAL MANAGEMENT 9 S
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Section 2. Annual Meeting The annua
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the general supervision of the busi
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policies of the Authority, supervis
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members of the Board of Trustees. A
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Section 5. Expenditure Authorizatio
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DATE: 07/26/2011 REVISION: 0 POWER
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DATE: 07/26/2011 REVISION: 0 POWER
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July (pdf) - New York Power Authority

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