To answer this problem, you must be familiar with the nucleophilic acyl substitution mechanism. (see problem 725)
Water reacts with an ester to form a carboxylic acid. This is what happens here.
If there is only trace amounts of water, it's possible that the water reacts with the ester to form a carboxylic acid, and then goes back to reform the ester. But, in this process, leaves an isotopically labeled oxygen in the carbonyl position.