The Albany Municipal Water Finance Authority works with the Albany Water Board by managing finances for City of Albany Water plans and projects related to System improvement.  Responsibilities of the Authority include issuing revenue bonds, applying for licenses, permits and approvals for plans and projects, regulating Water System rates and applying for and acquiring gifts, grants, loans and property from both public and private sources.

The Water Finance Authority consists of seven members, five of whom are members of the City of Albany and are appointed by the Mayor.  The remaining two members are nominated by the Mayor and appointed by the Governor.  Members of the Authority are appointed to three-year terms.