The Tribunal has found that Sydney Catchment Authority’s existing price path to June 2005 remains appropriate. The Authority’s revenues for 2000/01 and 2001/02 were significantly higher than expected, principally as a result of higher than forecast water sales. Its capital expenditure for these years was some 50 per cent below the level assumed in the 2000 Determination. The Authority believes that it is able to fund, with a reasonable degree of comfort, all existing expenditure commitments and programs to 2005. In these circumstances, the Tribunal believes the Authority does not require additional funding at this stage.