The board of the Pittsburgh Water & Sewer Authority is poised to approve a $172.3 million 2014 budget today, two days after refinancing $230 million in debt.
The proposed budget is $21 million greater than this year’s budget plan, due to $12 million from water rates boosted in October and $8 million the PWSA will collect for the Allegheny County Sanitation Authority. Much of the new money will be plowed into a $150 million capital improvement plan.
The $230 million in borrowing completed Wednesday will provide $80 million for further capital improvements to the authority’s 1,000 miles of sewer lines while restructuring $150 million in existing debt. That included moving $80 million of the authority’s $400 million in variable rate debt into a fixed rate.