March (pdf) - New York Power Authority
March (pdf) - New York Power Authority
March (pdf) - New York Power Authority
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<strong>March</strong> 29, 2011<br />
c. Report of the Chief Financial Officer<br />
Ms. Elizabeth McCarthy provided highlights of the financial reports to the Trustees. She said that for<br />
the reporting period the <strong>Authority</strong>’s net income was $6.4 million, which was below the amount budgeted. She<br />
indicated that this was due to low water flows and the need to purchase power to support the <strong>Authority</strong>’s<br />
customer load, due to the transmission outage. She concluded that at the end of the reporting period the<br />
<strong>Authority</strong> had $1.1 billion in cash and liquidity, which is invested in a variety of instruments.<br />
In response to a question from Trustee Nicandri, Ms. McCarthy said that the transmission outage is the<br />
same as mentioned in Mr. Quiniones’ report. She said that the transmission line was not owned by the <strong>Authority</strong>,<br />
however, the outage impacted the <strong>Authority</strong>’s ability to transport power, therefore, the <strong>Authority</strong> had to buy<br />
power for its customers.<br />
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