THE PITTSBURGH WATER AND SEWER AUTHORITY MAINTAINS A STRONG FINANCIAL OUTLOOK

Our cash balance continued an upward trajectory and is at its highest level in at least the last decade and, for the fourth consecutive year, capital spending has exceeded $100,000,000. To ensure maximum financial flexibility, we continue to boost our reserve funding that in the long-term will help to reduce costs and create a more sustainable financial future for the Pittsburgh Water and Sewer Authority

Our historic capital investment will significantly shape the water future of Pittsburgh for years to come. We are well poised to implement our ambitious 2023 – 2027 $1.8 billion Capital Improvement Plan, which includes large, generational projects to rehabilitate critical components of our water pumping and distribution systems and funds our lead service line replacement, sewer rehabilitation, and stormwater improvements.

In 2022, S&P Global Rating upgraded our credit rating to A+ - representing our first credit upgrade in over 10 years. We also maintained our investment-grade bond rating of A3, as ranked by Moody’s Investor Services. The investment grade rating results in lower interest rates that will, over time, save money for PWSA and its ratepayers.

PWSA continued its aggressive pursuit of state and federal funding throughout 2022. We received $348,403,807 from PENNVEST. Additionally, PWSA several million dollars in grants that do not have to be repaid including   $6,486,969 from the Biden Infrastructure Bill and $17 million from the American Rescue Plan Act granted to PWSA by the City of Pittsburgh. This funding supports our capital program and over time, it is estimated to save ratepayers $263,186,904.