Richard Morales is the Debt Manager of the San Francisco Public Utilities Commission (SFPUC), having joined the agency in 2011. The SFPUC is a water, sewer and power utility department of the City and County of San Francisco. Rich manages all debt issuance and debt administration activities for the SFPUC’s three enterprises. In this regard, he oversees the issuance of water revenue bonds, commercial paper and a low-cost state loan to fund the Water Enterprise capital program, including the $4.8 billion Water System Improvement Program (WSIP); wastewater revenue bonds, commercial paper and low-cost state and federal loans to fund the Wastewater Enterprise capital program, including the $6.9 billion Sewer System Improvement Program (SSIP); and power revenue bonds, federal subsidy bonds and commercial paper to fund the Power Enterprise capital program.
Prior to joining the SFPUC, Rich worked in the private sector as a municipal advisor and investment banker serving state and local governments in their debt issuance activities.