CITY OF PORT ST. LUCIE UTILITY SYSTEMS DEPARTMENT

Transcription

1 CITY OF PORT ST. LUCIE UTILITY SYSTEMS DEPARTMENT FINANCIAL STATEMENT AND PROJECT REPORT Sixth Month Ending March 31, 2018 City of Port St. Lucie, Florida Prepared by: The Finance Department

2 INTRODUCTORY SECTION Interoffice Memorandum Table Of Contents

3 CITY OF PORT ST. LUCIE CONSERVE OUR WATER RESOURCES FINANCE DEPARTMENT CUSTOMER SERVICE DIVISION Edwin M. Fry, Jr., CPA, CGFO Finance Director/City Treasurer TO: FROM: Edwin M. Fry Jr., CPA, CGFO, Finance Director/City Treasurer Charlie Proulx, CGFO, Financial Procedures Manager DATE: April 10, 2018 SUBJECT: Financial Statements & Project Report, for month ending March 31, 2018 The statements presented are unaudited. Statement of Net Position A statement summarizing the Assets, Deferred Outflows, Liabilities, and Net Position. Statement of Revenues, Expenses, and Changes in Fund Net Position A profit or loss statement by utility (water & sewer); which includes a distribution of expenses not directly allocated to a particular utility. Combined Statement of Operations City Approved Budget This statement is based on GAAP (Generally Accepted Accounting Principles); which includes the amortization of bond discount and expense, depreciation, and net profit and loss. City Approved Combined Statement This statement is based on the City approved budget for the fiscal year. Actual and accrued revenues and expenses are recorded. Debt Service Coverage Combined Statement This statement compares the actual expenses for the month as required to meet debt service coverage, which is included in the Bond Ordinance. Explanations of major expenses: Funding for the Renewal & Replacement fund of $5,009,453 for the fiscal year. Chemicals are recorded based on the actual usage. The Statement of Revenues, Expenses, and Changes in Fund Net Position is based on an accrual basis.

4 Other large expenditures have been footnoted on the individual Utility Operating Statements. Inventory accounts have been credited for the cost of operating supplies, chemicals, and postage for monthly usage. Inventory accounts are reconciled to actual at the end of the fiscal year. Bond Ordinance requires $1,000,000 be on deposit in the Renewal & Replacement Fund. Equity in Pooled Cash is $930,996. Water Operations, Wastewater Operation, Support Division, and Capital Facility Charges have been separated by plants or activity. Bad Debt Expense of $150,000 has been recorded in the current fiscal year. This represents 0.43% of the total current year-to-date billings. New meter sets and step system installations. Costs including labor, vehicles, and supplies and are now being capitalized and depreciated. Equity in Pooled Cash in the Utility Contingency Fund is $14,974,461. The balance of the receivable for the Honeywell Project is $142,236. Cash Receipt and Disbursement analysis for the following funds: Operations and Maintenance Fund 431 Renewal and Replacement Fund 438 Installation Fees Fund 439 Contingency Reserve Fund 440 Connection/Line Fees Fund Series Project Fund 445 Utility CIP Fund 448 Annual Debt Service Principal and Interest requirements for Fiscal Year are $26,699,394: Utility Refunding and Revenue Bonds Series 2007 is $11,234,513 Utility Revenue Refunding Bonds Series 2009 $3,448,031 Utility Revenue Refunding Bond Series 2012 $1,761,700 Utility Revenue Refunding Bond Series $1,479,250 Utility Refunding Revenue Bonds Series 2016 $8,775,900 The City of Port St. Lucie Utility Master Ordinance requires that net revenue in each fiscal year should be 100% of debt service requirement; also net revenue including subaccounts should be 110%. The current month is 177% and 232% with year-to-date 164% and 219%. The installation cost of residential water meters and grinder systems are reported in the Installation Fee Fund (439).

5 Capital Charge Agreement An agreement whereby a residential customer agrees to repay the connection fee within a ten-year period. Present balance is $9,249,166. Customer Deposits Funds received for Customer Deposits are located in Fund 431 Restricted Assets Cash & Equity in Pooled Cash in the amount of $4,951,243. Equivalent Residential Connection (ERC s) Report This report represents the total number of ERC s through September 30, 2018 including SAD connections. The ERC s are counted at the time of connection fee payment, not at the time of actual connection to the system. Project Report A summary of all active capital projects. Attached is a copy of the current Financial Statements and Project Report. If you have any questions, please call me at Thank you. cc: Russ Blackburn, City Manager Patricia Roebling, Assistant City Manager David Graham, Assistant City Manager Jesus Merejo, Director of Utility Systems Finance Department 121 S.W. Port St. Lucie Boulevard Port St. Lucie, FL Phone (772) Fax (772) TDD (772) info@cityofpsl.com W W W.CIT YO FPS L.COM

6 CITY OF PORT ST. LUCIE UTILITY SYSTEMS DEPARTMENT FINANCIAL STATEMENT AND PROJECT REPORT Sixth Month Ending March 31, 2018 TABLE OF CONTENTS FINANCIAL SECTION Page Combined Financial Section Statement of Net Position... 1 Statement of Revenues, Expenses and Changes in Fund Net Position... 2 Statement of Net Position - All Funds Individually and Combined, GAAP Basis Profit and Loss Statement Operating Fund Statement of Operations by Utilities, GAAP Basis... 5 Combined Statement of Operations, GAAP Basis, Actual Compared to Budget... 6 Comparative Statement... 7 Combined Statement of Operations, Budget Basis, Actual Compared to Budget... 8 Debt Service Ratio Calculation Debt Service Coverage Calculation, Actual Compared to Budget... 9 WATER OPERATIONS Profit and Loss Statement Combined Water Treatment and Distribution Operations, GAAP Basis Summary - Water Treatment & Preventative Maintenance Operations Profit and Loss Statement Water Treatment Operations, GAAP Basis Statement of Operation - Water Treatment Operations Statement of Operation - Water Treatment Plants -Prineville Statement of Operation - Water Treatment Plants - James E. Anderson Profit and Loss Statement Water Distribution Operations, GAAP Basis Statement of Operation - Water Cross Connection Statement of Operation - Water - Preventative Maintenance Statement of Operation McCarty Ranch Statement of Operation Water Maintenance Statistics Statistics - Water WASTEWATER OPERATIONS Profit and Loss Statement Combined Wastewater Plants and Collection Operations, GAAP Basis Summary - Wastewater Plants & Maintenance Operations Profit and Loss Statement Wastewater Treatment Operations, GAAP Basis Summary - Wastewater Plant Operations Statement of Operation Wastewater Plants Westport Wastewater Statement of Operation Wastewater Plants Glades Wastewater Profit and Loss Statement Wastewater Collection Field Operations, GAAP Basis Statement of Operation - Wastewater - Preventative Maintenance Operations Statement of Operation - Wastewater Maintenance

7 TABLE OF CONTENTS Page SUPPORT DIVISIONS Statistics Statistics - Wastewater Administration Statement of Operation - Administrative Customer Service Summary - Customer Service, Billing & Meter Reading Statement of Operation Customer Service Statement of Operation - Billing Statement of Operation Meter Reading Utilities Engineering Statement of Operation - Utilities Engineering Statement of Operation Utilities CIP Utilities Mapping Statement of Operation - Utilities Mapping Inspections/Locates Statement of Operation - Inspections Laboratory Statement of Operation - Laboratory Utility Warehouse Statement of Operation - Utility Warehouse Plant & Field Repairs & Maintenance Summary of Plant & Field Repairs & Maintenance Statement of Operation - Inflow - Infiltration Statement of Operation - Lift Stations Statement of Operation - Telemetry & Instrumentation CAPITAL FACILITY CHARGES Water Meters Statement of Operation Residential Installations Water Meters Grinder Systems Statement of Operation - Residential Installations-Wastewater Grinder Systems OTHER INFORMATION Statement of Operation Hurricane Matthew & Irma Statement of Operation Hurricane Irma Equivalent Residential Connections (ERC s) Analysis of Capital Projects and Projected Sources and Uses Cash Receipts and Disbursements Analysis - Fund Cash Receipts and Disbursements Analysis - Fund Cash Receipts and Disbursements Analysis - Fund Cash Receipts and Disbursements Analysis - Fund Cash Receipts and Disbursements Analysis - Fund Cash Receipts and Disbursements Analysis - Fund Cash Receipts and Disbursements Analysis - Fund Analysis of Detailed Projects

8 FINANCIAL SECTION Combined Financial Statements Debt Service Coverage

9 Statement of Net Position Statement of Revenues, Expenses and Changes in Fund Net Position

10 CITY OF PORT ST. LUCIE - UTILITIES STATEMENT OF NET POSITION MARCH 31, 2018 UNAUDITED ASSETS CURRENT ASSETS Cash and Cash Equivalents $ 5,500 Equity in Pooled Cash and Investments 38,667,370 Receivables 17,818,700 Prepaid Items 426,319 Inventories 1,130,336 RESTRICTED ASSETS Equity in Pooled Cash and Investments 41,777,871 TOTAL CURRENT ASSETS 99,826,096 NONCURRENT ASSETS Receivables 198,858 Prepaid Insurance (COI) 3,926,162 Capital Assets (Net of Depreciation) 539,950,273 Capital Assets (Not Depreciated) 44,209,144 TOTAL NONCURRENT ASSETS 588,284,437 TOTAL ASSETS 688,110,533 DEFERRED OUTFLOW OF RESOURCES Loss on Bond Defeasance 13,999,282 Other Post Employment Benefits 1,789,471 TOTAL DEFERRED OUTFLOWS 15,788,753 LIABILITIES Current Liabilities Accounts Payable and Accrued Liabilities 714,822 Accrued Salaries and Wages 567,119 Deposits 4,950,698 Unearned Revenue 2,584,211 Accrued Vacation and Medical Leave Benefits 233,854 Current Portion Long-Term Obligations 10,665,000 Restricted Liabilities: Payables from Restricted Assets 1,336,199 TOTAL CURRENT LIABILITIES 21,051,903 Noncurrent Liabilities Long Term Obligations 384,980,090 TOTAL NONCURRENT LIABILITIES 384,980,090 TOTAL LIABILITIES 406,031,993 NET POSITION Net Investment in Capital Assets 212,275,776 Restricted for Debt Service 11,378,263 Restricted for Capital Projects 22,232,364 Unrestricted Net Assets 51,980,890 TOTAL NET POSITION $ 297,867,293 1

11 CITY OF PORT ST. LUCIE - UTILITIES STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION FOURTH MONTH ENDING MARCH 31, 2018 UNAUDITED OPERATING REVENUES Charges for Service $ 35,483,390 TOTAL OPERATING REVENUE 35,483,390 OPERATING EXPENSES Personal Services 9,693,344 Contractual Services 687,008 Depreciation Expense 16,275,000 Operating Supplies and Expenses 7,540,401 TOTAL OPERATING EXPENSES 34,195,752 OPERATING INCOME (LOSS) 1,287,638 NON OPERATING REVENUE (EXPENSE) Interest Income 430,005 Connection Fees 8,730,022 FEMA - Hurricane Matthew 5,166 Interest Expense (7,193,390) Gain (Loss) on Disposition of Equipment 130,831 Miscellaneous 312,792 Guaranteed Revenue 134,029 Hurricane Expenses (32,817) TOTAL NON OPERATING REVENUE (EXPENSE) 2,516,640 INCOME (LOSS) BEFORE TRANSFERS, CONTRIBUTIONS, SPECIAL ITEMS, AND EXTRAORDINARY ITEMS 3,804,277 Transfers in 247,783 CHANGE IN FUND NET POSITION 4,052,060 TOTAL NET POSITION - BEGINNING 293,815,233 TOTAL NET POSITION - ENDING $297,867,293 2

12 Statement of Net Position - All Funds Individually and Combined GAAP Basis

13 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF NET POSITION AS OF March 31, 2017 Based on Generally Accepted Accounting Principles UNAUDITED OPER RENEWAL INSTALL CONTING. CONN/LINE 2,006 UTILITY & MAINT & REPL. FEES FUND FEES PROJ FUND CIP FUND DESCRIPTION TOTAL CURRENT ASSETS Cash & Equity in Pooled Cash 13,507, ,974, ,190,872 38,672,870 Accounts Receivable (Less Doubtful Accts.) 8,390, ,249, ,639,557 Accounts Receivable - Other 2, , ,765 Due From Other Govt. Units Due From Other Funds Inventories 964, , ,130,336 Prepaid Expenses 4,276, , ,352,481 TOTAL 27,141, ,724,167 14,974, ,190,872 62,031,009 RESTRICTED ASSETS Cash & Equity in Pooled Cash 17,665, ,996 8,263, ,693, , ,777,871 Accounts Receivable - Other Due From Other Gov. Units Due From Other Funds TOTAL 17,665, ,996 8,263, ,693, , ,777,871 NON CURRENT ASSETS Accounts Receivable , ,236 TOTAL , ,236 CAPITAL ASSETS Intangible Assets 886, ,615 Land 32,726, ,018, ,745,325 Buildings 723, , ,322 Traffic Control Devices 297, ,215 Machinery & Equipment 22,401, ,628, ,030,388 Plant 324,329, , ,514,925 Distribution/Collection 515,195, ,027, ,222,852 Construction in Progress 277,903 3,307,083 2,195, ,249,998 1,482, ,930 8,659,499 TOTAL 896,838,200 3,307, ,058, ,249,998 1,482, ,930 1,010,082,142 LESS ACCUM DEPR/AMORT 372,942, ,980, ,922,725 TOTAL 523,895,788 3,307,083 54,077, ,249,998 1,482, , ,159,417 DEFERRED OUTFLOWS Defeasance 13,999, ,999,282 Other Post Employment Benefits 1,675, , ,789,471 TOTAL 15,675, , ,788,753 GRAND TOTAL 584,378,090 4,238,079 72,179,196 15,116,697 15,943,541 1,706,881 10,336, ,899,286 3

14 OPERATIONS RENEWAL INSTALL CONTING. CONN/LINE 2,006 UTILITY & MAINT. & REPL. FEES FUND FEES PROJ FUND CIP FUND DESCRIPTION TOTAL CURRENT LIABILITIES Accounts Payable 532, , ,380 Retainage Due to Other Funds Due to Other - Govt. Units Unearned Revenue 0 0 1,700, , ,584,211 State/Federal Taxes Accrued Salaries & Wages 543, ,603 Accrued Vacation & Medical Benefits 229, , ,854 Current Portion Long Term Debt 10,665, ,665,000 TOTAL 11,970, ,704, , ,169 14,632,048 RESTRICTED LIABILITIES Accounts Payable 1,336,199 94,289 38, ,468,948 Retainage Arbitrage Payable Customer Deposits 4,951, ,951,243 Deposits - Other (545) (545) Due to Other Funds Due to Other - Govt. Units TOTAL 6,286,897 94,498 38, ,419,855 LONG-TERM DEBT Rev Bonds Payable Series ,970, ,970,000 Series ,140, ,140,000 Series ,985, ,985,000 Series ,585, ,585,000 Series ,515, ,515,000 Unamortized Premiums/Discounts 32,022, ,022,922 Other Post Employment Benefits 6,900, , ,397,648 Accrued Vacation & Medical Benefits 2,321, , ,364,520 TOTAL 384,440, , ,980,090 NET POSITION Net Position 181,680,324 4,143,581 69,896,847 14,232,486 15,943,541 1,706,881 10,263, ,867,293 TOTAL 181,680,324 4,143,581 69,896,847 14,232,486 15,943,541 1,706,881 10,263, ,867,293 GRAND TOTAL 584,378,090 4,238,079 72,179,196 15,116,697 15,943,541 1,706,881 10,336, ,899,286 4

15 Profit and Loss Statement - Operating Fund GAAP Basis

16 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATIONS BY UTILITIES SIXTH MONTH ENDING MARCH 31, 2018 Based on Generally Accepted Accounting Principles OPERATING FUND 431 WATER SEWER TOTAL OPERATING REVENUES: Sales - Service 14,454,422 16,626,502 31,080,924 System Installation Fee 173,787 51, ,553 Miscellaneous Revenue 1,710,699 1,026,075 2,736,774 6% Surcharge 1,052,175 1,052,175 2,104,349 TOTAL OPERATING REVENUES 17,391,083 18,756,517 36,147,600 Salaries 1,689,421 1,270,383 2,959,804 Employee Benefits 701, ,545 1,237,578 Payroll Taxes 123,650 92, ,942 Electricity 1,097, ,678 1,547,524 Chemicals 585, , ,205 Maintenance 287, , ,770 Materials & Supplies 186, , ,614 Professional Services 73,559 70, ,567 Transportation Insurance 100,204 75, ,769 Rentals/Leases 2,898 1,175 4,074 Bad Debt 75,000 75, ,000 Other Expenses 370, , ,209 Franchise 75,000 75, ,000 Administrative Expenses 4,326,407 4,440,449 8,766,856 Hurricane Expense 15,786 15,786 31,572 TOTAL OPERATING EXPENSES 9,710,384 8,241,940 17,952,325 NET OPERATING REVENUE BEFORE DEPRECIATION 7,680,699 10,514,576 18,195,275 DEPRECIATION 6,900,000 6,900,000 13,800,000 NET OPERATING REV./(LOSS) 780,699 3,614,576 4,395,275 NON-OPERATING REVENUE AND (EXPENSES) Interest Income 66,978 66, ,956 Guaranteed Revenue 39,434 94, ,029 FEMA - Hurricane Matthew 2,583 2,583 5,166 Interest Expense (4,008,598) (4,008,598) (8,017,197) Amortization of Bonds Discount & Expense 411, , ,807 Capital Contribution Transfer In 637, ,668 1,275,335 Transfer Out (1,352,363) (1,652,362) (3,004,725) TOTAL (4,202,395) (4,447,232) (8,649,627) NET REVENUE/(LOSS) (3,421,697) (832,656) (4,254,352) 5

17 Profit and Loss Statement - Operating Fund GAAP Basis Actual Compared to Budget

18 CITY OF PORT ST. LUCIE UTILITY SYSTEMS COMBINED STATEMENT OF OPERATIONS - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 Based on Generally Accepted Accounting Principles CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% OPERATING REVENUES: Sales - Service 5,525,692 5,204, ,722 31,080,924 62,459, % Systems Installation Fee 76,200 13,417 62, , , % Miscellaneous 434, , ,675 2,736,774 4,939, % 6% Surcharge 374, ,837 25,900 2,104,349 4,186, % Cash Balance Forward 0 1,382,095 (1,382,095) 0 16,585, % TOTAL OPERATING REVENUES 6,411,276 7,205,292 (794,016) 36,147,600 88,331, % Salaries 1,083,211 1,087,447 (4,236) 6,547,658 13,049, % Employee Benefits 444, ,591 (110,394) 2,704,933 6,655, % Payroll Taxes 78,331 83,132 (4,802) 472, , % Electricity 289, ,640 (33,455) 1,698,750 3,871, % Chemicals 161, ,853 10, ,205 1,822, % Maintenance 140, ,917 4, ,727 1,631, % Materials & Supplies 129, ,606 19, ,686 1,315, % Professional Services 31,448 61,692 (30,244) 211, , % Transportation 32,748 38,317 (5,568) 168, , % Insurance 40,439 40, , , % Rentals/Leases 16,849 16, , , % Bad Debt 25,000 25, , , % Other Expenses 358, , ,657 1,526,249 3,005, % Franchise 25,000 25, , , % Administrative Expenses 292, ,684 (1) 1,756,098 3,512, % Contingency 0 788,437 (788,437) 0 9,461, % TOTAL OPERATING EXPENSES 3,148,999 3,983,522 (834,523) 17,952,325 47,802, % NET OPERATING REVENUE BEFORE DEPRECIATION 3,262,278 3,221,771 40,507 18,195,275 40,529, % DEPRECIATION 2,300, ,300,000 13,800, % NET OPERATING REV./(LOSS) 962,278 3,221,771 (2,259,493) 4,395,275 40,529, % NON-OPERATING REVENUE AND (EXPENSES) Interest Income 22,168 13,525 8, , , % Guaranteed Revenue 122,263 10, , , , % FEMA - Hurricane Matthew 5, ,166 5, % Interest Expense (1,336,199) (1,336,200) 0 (8,017,197) (16,034,394) 50.00% Amortization of Bond Discount & Expense , % Capital Contribution % Transfer from Other Funds 212, ,239 (16,760) 1,275,335 2,750, % Transfer to Other Funds (500,787) 842,454 (1,343,242) (3,004,725) 10,109, % TOTAL (1,474,912) (240,148) (1,234,764) (8,649,627) (2,881,773) % NET REVENUE/(LOSS) (512,634) 2,981,623 (3,494,257) (4,254,352) 37,647, % 6

19 Comparative Statement - Actual Current Month 2018 & Prior Month 2018 Current Fiscal Year-to-Date / /18 & Prior Fiscal Year-to-Date / /17

20 CITY OF PORT ST. LUCIE UTILITY SYSTEMS COMPARATIVE STATEMENT - ACTUAL MONTH OF MARCH 2018, MONTH OF FEBRUARY 2018; AND YEAR TO DATE MARCH 2018, YEAR TO DATE MARCH 2017 MONTH YEAR-TO-DATE ACTUAL ACTUAL ACTUAL ACTUAL OPERATING FUND 431 Mar-18 Feb-18 Over/(Under) Mar-18 Mar-17 Over/(Under) OPERATING REVENUES: Sales - Service 5,525,692 5,390, ,480 31,080,924 30,618, ,664 Systems Installation Fee 76,200 25,574 50, ,553 89, ,387 Miscellaneous 434, ,362 22,286 2,736,774 2,534, ,201 6% Surcharge 374, ,558 11,179 2,104,349 2,052,033 52,316 Interest Income 22,168 26,445 (4,277) 133, ,558 15,398 Guaranteed Revenue 122,263 1, , ,029 57,600 76,429 TOTAL OPERATING REVENUE 6,555,707 6,219, ,999 36,415,585 35,470, ,395 FEMA Reimbursement 5, , Cash Balance Forward NON OPERATING REVENUE 5, , TOTAL REVENUES 6,560,873 6,219, ,165 36,415,585 35,470, ,395 Salaries 1,083, , ,588 6,547,658 6,015, ,391 Employee Benefits 444, ,551 6,646 2,704,933 2,354, ,332 Payroll Taxes 78,331 69,104 9, , ,235 32,090 Electricity 289, ,596 7,590 1,698,750 1,613,999 84,751 Chemicals 161, ,443 (3,501) 893, , ,853 Maintenance 140,506 65,567 74, , , ,494 Materials & Supplies 129,321 90,630 38, , ,609 (21,923) Professional Services 31, ,136 (78,688) 211,762 94, ,651 Transportation 32,748 23,777 8, , ,612 (29,469) Insurance 40,439 44,746 (4,307) 246, ,230 24,711 Rentals/Leases 16,849 14,377 2,472 91,848 97,546 (5,698) Bad Debt 25,000 25, , ,000 0 Other Expenses 358, , ,654 1,526,249 1,069, ,432 Administrative Expenses 292, , ,756,098 1,499, ,046 Franchise 25,000 25, , ,000 0 Principal - Bonds ,767,879 (5,767,879) Interest Expense 1,336,199 1,336,199 (0) 8,017,197 8,284,272 (267,075) TOTAL OPERATING EXPENSES 4,485,198 4,202, ,282 25,969,521 29,845,815 (3,876,294) Capital Expenditures 256,934 74, , , , ,380 Capital Contribution Transfers In (212,479) (212,510) 31 (1,275,335) (1,277,552) 2,217 Transfer Out 500, ,787 (0) 3,004,725 2,885, ,265 TOTAL NON OPERATING EXPENSES 545, , ,619 2,186,905 1,712, ,861 TOTAL EXPENSES 5,030,441 4,565, ,901 28,156,427 31,557,859 (3,401,432) NET REVENUE/(LOSS) 1,530,432 1,654,168 (123,737) 8,259,158 3,912,331 4,346,827 7

21 Profit and Loss Statement - Operating Fund GAAP Basis Actual Compared to Budget

22 CITY OF PORT ST. LUCIE UTILITY SYSTEMS COMBINED STATEMENT - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 Budget Basis CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% OPERATING REVENUES: Sales - Service 5,525,692 5,204, ,722 31,080,924 62,459, % Systems Installation Fee 76,200 13,417 62, , , % Miscellaneous 434, , ,675 2,736,774 4,939, % 6% Surcharge 374, ,837 25,900 2,104,349 4,186, % Interest Income 22,168 13,525 8, , , % Guaranteed Revenue 122,263 10, , , , % FEMA - Hurricane Matthew 5, ,166 5, % Capital Contribution % Transfers In 212, ,239 (16,760) 1,275,335 2,750, % Cash Balance Forward 0 1,382,095 (1,382,095) 0 16,585, % TOTAL OPERATING REVENUES 6,773,351 7,458,890 (685,538) 37,696,086 91,374, % Salaries 1,083,211 1,087,447 (4,236) 6,547,658 13,049, % Employee Benefits 444, ,591 (110,394) 2,704,933 6,655, % Payroll Taxes 78,331 83,132 (4,802) 472, , % Electricity 289, ,640 (33,455) 1,698,750 3,871, % Chemicals 161, ,853 10, ,205 1,822, % Maintenance 140, ,917 4, ,727 1,631, % Materials & Supplies 129, ,606 19, ,686 1,315, % Professional Services 31,448 61,692 (30,244) 211, , % Transportation 32,748 38,317 (5,568) 168, , % Insurance 40,439 40, , , % Rentals/Leases 16,849 16, , , % Bad Debt 25,000 25, , , % Other Expenses 358, , ,657 1,526,249 3,005, % Administrative Expenses 292, ,684 (1) 1,756,098 3,512, % Franchise 25,000 25, , , % Principal - Bond 0 888,750 (888,750) 0 10,665, % Interest Expense 1,336,199 1,336,200 (0) 8,017,197 16,034, % Capital Expenditures 256, ,631 (306,697) 457,516 6,763, % Transfer Out 500, ,454 (341,667) 3,004,725 10,109, % Contingency 0 788,437 (788,437) 0 9,461, % TOTAL OPERATING EXPENSES 5,242,920 7,614,557 (2,371,637) 29,431,762 91,374, % NET REVENUE/(LOSS) 1,530,432 (155,667) 1,686,099 8,264,324 (0) 0.00% 8

23 Debt Service Ratio Calculations for the Current Month and Year-To-Date Actual Compared to Budget

24 CITY OF PORT ST. LUCIE UTILITY SYSTEMS DEBT SERVICE COVERAGE CALCULATION SIXTH MONTH ENDING MARCH 31, 2018 CURRENT MONTH YEAR-TO-DATE (1) (1) OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% OPERATING REVENUES: Charges for Services 6,883,746 7,593,043 (709,297) 39,193,603 91,116, % Misc. Revenues 0 7,917 (7,917) 111,124 95, % TOTAL OPERATING REVENUES 6,883,746 7,600,960 (717,214) 39,304,727 91,211, % OPERATING EXPENSE: 3,148,999 3,983,522 (834,523) 17,952,325 47,802, % NET OPERATING REVENUES 3,734,748 3,617, ,310 21,352,402 43,409, % OTHER REVENUES: Interest Income 76,044 40,608 35, , , % Guaranteed Revenues 122,263 10, , , , % TOTAL OTHER REVENUES 198,307 51, , , , % TOTAL NET REVENUE AVAILABLE 3,933,054 3,668, ,175 21,916,437 44,026, % Part A NET OPERATING REVENUE 3,933,054 3,668, ,175 21,916,437 44,026, % DEBT SERVICE 2,224,949 2,224,950 (0) 13,349,697 26,699, % Projected 177% 165% 164% 165% Minimum 100% 100% 100% 100% Part B NET OPERATING REVENUE 3,933,054 3,668, ,175 21,916,437 44,026, % CURRENT SUBACCOUNTS (2) 1,224, , ,231 7,346,771 7,346, % TOTAL 5,157,516 4,281, ,406 29,263,208 51,373, % DEBT SERVICE 2,224,949 2,224,950 (0) 13,349,697 26,699, % Projected 232% 192% 219% 192% Minimum 110% 110% 110% 110% (1) Format based on Official Statement - Utilities System Revenue Bonds - Series DEBT SERVICE COVERAGE (2) Developed based on available information related to the expansion percentages for the Series 2007, Series 2009, Series 2012, Series 2014, and Series

25 WATER OPERATIONS Profit and Loss Statement - Combined Water Treatment and Distribution Operations GAAP Basis Profit and Loss Statement - Water Treatment Operations GAAP Basis Profit and Loss Statement - Water Distribution Operations GAAP Basis Statistics

26 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 SUMMARY - WATER TREATMENT & PREVENTATIVE MAINTENANCE OPERATIONS CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% OPERATING REVENUES: Sales - Service 2,609,460 2,441, ,608 14,454,422 29,302, % Installation Fees 69,824 9,583 60, , , % Miscellaneous Revenue 43,803 55,417 (11,614) 337, , % TOTAL OPERATING REVENUES 2,723,087 2,506, ,235 14,966,100 30,082, % Salaries 277, ,991 21,821 1,689,421 3,071, % Employee Benefits 118, ,717 (16,721) 701,033 1,628, % Payroll Taxes 20,177 19, , , % Electricity 187, ,674 (27,492) 1,097,845 2,576, % Chemicals 112, ,719 8, ,746 1,256, % Maintenance 51,261 35,670 15, , , % Materials & Supplies 54,800 35,083 19, , , % Professional Services 7,045 33,137 (26,092) 73, , % Transportation (145) 66 1, % Insurance 16,252 16, , , % Rentals/Leases 1,523 1, ,898 14, % Bad Debt % Other Expenses 137,054 56,384 80, , , % TOTAL OPERATING EXPENSES 984, ,378 76,504 5,218,191 10,900, % NET OPERATING REVENUE BEFORE DEPRECIATION 1,738,204 1,598, ,731 9,747,909 19,181, % DEPRECIATION 1,150, ,150,000 6,900, % NET OPERATING REVENUE/(LOSS) 588,204 1,598,474 (1,010,269) 2,847,909 19,181, % 10

27 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 SUMMARY - WATER TREATMENT OPERATIONS CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 104, ,072 1, ,166 1,236, % Employee Benefits 39,847 48,315 (8,468) 240, , % Payroll Taxes 7,760 7,885 (125) 47,558 94, % Electricity 186, ,008 (27,252) 1,095,180 2,568, % Chemicals 112, ,702 8, ,746 1,256, % Maintenance 28,271 22,726 5, , , % Materials & Supplies 14,612 15,410 (799) 52, , % Professional Services 7,045 16,283 (9,238) 43, , % Transportation 5 58 (54) % Insurance 12,890 12, , , % Rentals/Leases (531) 0 6, % Bad Debt % Other Expenses 28,069 24,034 4, , , % TOTAL OPERATING EXPENSES 542, ,764 (27,484) 3,135,914 6,837, % 11

28 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 PRINEVILLE WATER TREATMENT PLANT CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 60,572 63,155 (2,583) 361, , % Employee Benefits 24,012 31,224 (7,212) 145, , % Payroll Taxes 4,524 4,831 (307) 26,740 57, % Electricity 88, ,274 (18,047) 488,373 1,275, % Chemicals 59,943 59, , , % Maintenance 7,275 12,516 (5,241) 129, , % Materials & Supplies 8,572 7,176 1,396 29,514 86, % Professional Services 2,403 2,500 (98) 27,984 30, % Transportation 5 21 (16) % Insurance 6,325 6, ,296 74, % Rentals/Leases (506) 0 6, % Bad Debt % Other Expenses (1) 17,313 16, , , % TOTAL OPERATING EXPENSES 279, ,853 (31,685) 1,656,657 3,730, % (1) Sludge Hauling - Year to Date 36,353 JAMES E ANDERSON WATER TREATMENT PLANT CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 43,679 39,917 3, , , % Employee Benefits 15,835 17,091 (1,256) 95, , % Payroll Taxes 3,236 3, ,818 36, % Electricity 98, ,733 (9,205) 606,807 1,292, % Chemicals 52,833 45,234 7, , , % Maintenance 20,996 10,210 10,786 85, , % Materials & Supplies 6,040 8,235 (2,194) 22,615 98, % Professional Services 4,643 13,783 (9,141) 15, , % Transportation 0 38 (38) % Insurance 6,565 6, ,736 77, % Rentals/Leases 0 25 (25) % Bad Debt % Other Expenses 10,756 7,101 3,655 42,346 85, % TOTAL OPERATING EXPENSES 263, ,911 4,201 1,479,256 3,106, % 12

29 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 WATER - CROSS CONNECTION CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 27,464 27,812 (349) 169, , % Employee Benefits 13,674 16,165 (2,491) 82, , % Payroll Taxes 1,866 2,128 (262) 12,072 25, % Electricity % Chemicals % Maintenance 4,949 1,818 3,130 12,542 21, % Materials & Supplies 4,780 4, ,056 52, % Professional Services % Transportation 0 42 (42) % Insurance (0) 2,976 5, % Rentals/Leases % Bad Debt % Other Expenses 638 1,323 (684) 2,775 15, % TOTAL OPERATING EXPENSES 53,867 54,169 (301) 305, , % WATER DISTRIBUTION - PREVENTATIVE MAINTENANCE CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 106,835 94,871 11, ,620 1,138, % Employee Benefits 47,407 52,305 (4,898) 259, , % Payroll Taxes 7,679 7, ,150 87, % Electricity 0 42 (42) % Chemicals 0 8 (8) % Maintenance 15,112 7,688 7,424 47,139 92, % Materials & Supplies 9,176 6,467 2,710 46,658 77, % Professional Services (167) 1,750 2, % Transportation 0 8 (8) % Insurance 1,767 1, ,602 21, % Rentals/Leases 0 13 (13) % Bad Debt % Other Expenses 5,178 7,835 (2,657) 39,381 94, % TOTAL OPERATING EXPENSES 193, ,427 14,728 1,067,404 2,141, % 13

30 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 MCCARTY RANCH CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries % Employee Benefits % Payroll Taxes % Electricity (174) 1,932 6, % Chemicals % Maintenance 382 1,404 (1,022) 1,273 16, % Materials & Supplies (333) 0 4, % Professional Services 0 16,667 (16,667) 28, , % Transportation % Insurance ,466 4, % Rentals/Leases % Bad Debt % Other Expenses 102,371 22,113 80, , , % TOTAL OPERATING EXPENSES 103,491 41,427 62, , , % WATER MAINTENANCE CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 39,263 30,237 9, , , % Employee Benefits 18,068 18,932 (864) 118, , % Payroll Taxes 2,871 2, ,870 27, % Electricity (25) 734 1, % Chemicals 0 8 (8) % Maintenance 2,548 2, ,670 24, % Materials & Supplies 26,232 8,488 17,744 64, , % Professional Services 0 21 (21) % Transportation 0 42 (42) % Insurance (0) 4,128 8, % Rentals/Leases 1, ,898 7, % Bad Debt % Other Expenses 797 1,079 (282) 3,421 12, % TOTAL OPERATING EXPENSES 92,089 64,591 27, , , % 14

31 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATISTICS - WATER SIXTH MONTH ENDING MARCH 31, 2018 MONTH YEAR-TO-DATE TITLE OF ACCOUNTS (000,000's GAL) (000,000's GAL) Raw Water Treated - Prineville , Raw Water Treated - James E Anderson , Less: Customers Usage , Other Demand Treated Water - Unaccounted For PERCENTAGE 12.73% 10.60% Average Daily Treated MGD Highest Daily Treated MGD Utilization 48.20% NUMBER OF CUSTOMERS BILLED 71,507 15

32 WASTEWATER OPERATIONS Profit and Loss Statement - Combined Wastewater Plants and Collection Operations GAAP Basis Profit and Loss Statement - Wastewater Treatment Operations GAAP Basis Profit and Loss Statement - Wastewater Collection Field Operations GAAP Basis Statistics

33 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 SUMMARY - WASTEWATER PLANTS & MAINTENANCE OPERATIONS CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% OPERATING REVENUES: Sales - Service 2,916,232 2,763, ,113 16,626,502 33,157, % Step and Grinder System Installation 6,376 3,833 2,542 51,766 46, % Miscellaneous Revenue (833) 2,210 10, % TOTAL OPERATING REVENUES 2,922,608 2,767, ,822 16,680,478 33,213, % Salaries 189, ,324 (22,523) 1,270,383 2,547, % Employee Benefits 84, ,911 (20,844) 536,545 1,258, % Payroll Taxes 13,424 16,243 (2,818) 92, , % Electricity 74,955 79,460 (4,506) 449, , % Chemicals 49,167 47,034 2, , , % Maintenance 28,676 22,302 6, , , % Materials & Supplies 23,419 25,871 (2,452) 104, , % Professional Services 9,575 1,808 7,767 70,008 21, % Transportation (142) 775 1, % Insurance 12,325 12, , , % Rentals/Leases (742) 1,175 8, % Bad Debt % Other Expenses 108, ,626 7, ,122 1,207, % TOTAL OPERATING EXPENSES 593, ,639 (30,072) 3,635,705 7,483, % NET OPERATING REVENUE BEFORE DEPRECIATION 2,329,042 2,144, ,895 13,044,773 25,729, % DEPRECIATION 1,150, ,150,000 6,900, % NET OPERATING REVENUE/(LOSS) 1,179,042 2,144,147 (965,105) 6,144,773 25,729, % 16

34 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 SUMMARY - WASTEWATER PLANT OPERATIONS CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 86,104 95,321 (9,217) 562,498 1,143, % Employee Benefits 36,529 47,986 (11,457) 226, , % Payroll Taxes 6,205 7,292 (1,087) 40,958 87, % Electricity 74,649 79,127 (4,478) 447, , % Chemicals 49,167 47,026 2, , , % Maintenance 7,444 6, ,778 83, % Materials & Supplies 6,607 10,154 (3,547) 25, , % Professional Services 9,575 1,725 7,850 70,008 20, % Transportation 0 42 (42) % Insurance 9,982 9, , , % Rentals/Leases (500) 0 6, % Bad Debt % Other Expenses 97,762 93,087 4, ,996 1,117, % TOTAL OPERATING EXPENSES 384, ,049 (15,025) 2,337,637 4,788, % 17

35 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 WESTPORT WASTEWATER TREATMENT PLANT CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 37,973 44,120 (6,147) 236, , % Employee Benefits 16,051 21,015 (4,963) 97, , % Payroll Taxes 2,776 3,375 (599) 17,234 40, % Electricity 36,028 38,776 (2,748) 208, , % Chemicals 26,042 21,875 4, , , % Maintenance 5,965 2,617 3,347 18,602 31, % Materials & Supplies 992 4,597 (3,605) 12,913 55, % Professional Services 4, ,809 32,955 10, % Transportation 0 21 (21) % Insurance 4,052 3, ,389 47, % Rentals/Leases (417) 0 5, % Bad Debt % Other Expenses (1) 50,954 36,851 14, , , % TOTAL OPERATING EXPENSES 185, ,474 7,001 1,008,924 2,141, % (1) Sludge Hauling - Year to Date 173,534 GLADES WASTEWATER TREATMENT PLANT CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 48,131 51,201 (3,070) 325, , % Employee Benefits 20,478 26,972 (6,494) 129, , % Payroll Taxes 3,429 3,917 (488) 23,724 47, % Electricity 38,620 40,351 (1,730) 238, , % Chemicals 23,125 25,151 (2,026) 172, , % Maintenance 1,480 4,339 (2,859) 37,176 52, % Materials & Supplies 5,616 5, ,863 66, % Professional Services 4, ,041 37,053 10, % Transportation 0 21 (21) % Insurance 5,930 5, ,118 70, % Rentals/Leases 0 83 (83) 0 1, % Bad Debt % Other Expenses (1) 46,808 56,236 (9,429) 315, , % TOTAL OPERATING EXPENSES 198, ,575 (22,026) 1,328,713 2,646, % (1) Sludge Hauling - Year to Date 194,374 18

36 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 WASTEWATER - PREVENTATIVE MAINTENANCE OPERATIONS CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 78,774 95,664 (16,890) 561,293 1,147, % Employee Benefits 34,597 44,425 (9,828) 239, , % Payroll Taxes 5,426 7,318 (1,892) 40,748 87, % Electricity 0 42 (42) % Chemicals % Maintenance 17,043 13,431 3,612 65, , % Materials & Supplies 11,838 11, , , % Professional Services 0 83 (83) 0 1, % Transportation 0 42 (42) % Insurance 1,834 1, ,004 22, % Rentals/Leases 0 17 (17) % Bad Debt % Other Expenses 9,762 6,778 2,985 53,074 81, % TOTAL OPERATING EXPENSES 159, ,241 (21,966) 1,024,001 2,174, % WASTEWATER MAINTENANCE CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 24,923 21,338 3, , , % Employee Benefits 12,941 12, , , % Payroll Taxes 1,793 1, ,587 19, % Electricity ,908 3, % Chemicals 0 8 (8) % Maintenance 4,188 1,915 2,272 11,374 22, % Materials & Supplies 4,974 4, ,496 49, % Professional Services % Transportation 0 58 (58) % Insurance (0) 3,054 6, % Rentals/Leases (225) 1,175 2, % Bad Debt % Other Expenses (128) 3,052 9, % TOTAL OPERATING EXPENSES 50,267 43,349 6, , , % 19

37 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATISTICS - WASTEWATER SIXTH MONTH ENDING MARCH 31, 2018 MONTH YEAR-TO-DATE TITLE OF ACCOUNTS (000,000's GAL) (000,000's GAL) GALLONS-CYCLE BILLING TOTAL REVENUE GALLONS NUMBER OF CUSTOMERS BILLED 52,954 CONNECTIONS GLADES WESTPORT TOTAL 21,849 35,096 56,945 MAXIMUM DAILY FLOW Millions of Gallons Daily AVERAGE DAILY FLOW Millions of Gallons Daily PERMITTED CAPACITY Millions of Gallons Daily UTILIZATION 52.90% Total Committed Capacity/Permitted Capacity FLOWS BY PLANT PER MONTH GLADES WESTPORT TOTAL Total Flow Reuse Flow Maximum Flow Minimum Flow Average Flow

38 SUPPORT DIVISIONS Administration Customer Service Utilities Engineering Utilities Mapping Inspections/Locates Laboratory Utility Warehouse Plant & Field Repairs & Maintenance

39 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 ADMINISTRATIVE CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 67,806 79,097 (11,291) 417, , % Employee Benefits 22,043 28,160 (6,117) 131, , % Payroll Taxes 5,102 6,051 (949) 27,220 72, % Electricity (125) 4,250 10, % Chemicals % Maintenance (471) 26,375 10, % Materials & Supplies (169) 2,267 (2,436) 4,962 27, % Professional Services 14,828 22,496 (7,668) 35, , % Transportation 0 33 (33) % Insurance 3,695 3, ,170 44, % Rentals/Leases % Bad Debt % Other Expenses 7,246 16,685 (9,439) 68, , % Administrative Expenses 292, ,684 (1) 1,756,098 3,512, % TOTAL OPERATING EXPENSES 414, ,960 (38,070) 2,495,550 5,435, % 21

40 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 SUMMARY - CUSTOMER SERVICE, BILLING, AND METER READING CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% OPERATING REVENUES: Miscellaneous Revenue (1) 390, , ,122 2,396,673 4,264, % 6% Surcharge 374, ,837 25,900 2,104,349 4,186, % TOTAL OPERATING REVENUES 765, , ,022 4,501,022 8,450, % Salaries 139, ,266 (68,128) 889,373 2,487, % Employee Benefits 59, ,805 (48,729) 367,481 1,293, % Payroll Taxes 9,985 15,856 (5,871) 63, , % Electricity (297) 534 4, % Chemicals % Maintenance 3,675 36,774 (33,100) 119, , % Materials & Supplies 3,324 8,804 (5,480) 20, , % Professional Services % Transportation 32,582 37,679 (5,098) 166, , % Insurance 2,152 2,643 (491) 12,912 31, % Rentals/Leases 6,688 12,705 (6,017) 40, , % Bad Debt 25,000 25, , , % Other Expenses 70,323 50,002 20, , , % TOTAL OPERATING EXPENSES 352, ,923 (152,890) 2,203,324 6,059, % NET REVENUE/(LOSS) 413,548 43, ,911 2,297,698 2,391, % Month Year to date (1) Customer Billing Charge $226,594 $1,349,337 22

41 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 CUSTOMER SERVICE CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 109, , ,399 1,306, % Employee Benefits 44,162 60,368 (16,206) 260, , % Payroll Taxes 7,868 8,328 (460) 45,829 99, % Electricity/Cable TV 0 4 (4) % Chemicals % Maintenance 135 3,060 (2,926) , % Materials & Supplies 802 2,771 (1,969) 8,035 33, % Professional Services % Transportation % Insurance 1,209 1,209 (0) 7,254 14, % Rentals/Leases 6,688 6, ,128 80, % Bad Debt 25,000 25, , , % Other Expenses 61,160 36,711 24, , , % TOTAL OPERATING EXPENSES 256, ,004 3,467 1,487,532 3,036, % BILLING CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 20,093 34,668 (14,575) 155, , % Employee Benefits 10,767 19,404 (8,638) 77, , % Payroll Taxes 1,402 2,652 (1,250) 10,906 31, % Electricity % Chemicals % Maintenance ,717 (29,318) 108, , % Materials & Supplies 620 1,142 (522) 1,698 13, % Professional Services % Transportation 32,582 37,625 (5,043) 166, , % Insurance ,524 3, % Rentals/Leases (100) 628 1, % Bad Debt % Other Expenses 8,638 10,250 (1,612) 35, , % TOTAL OPERATING EXPENSES 74, ,811 (61,056) 558,710 1,629, % 23

42 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 METER READING CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 9,598 18,076 (8,478) 92, , % Employee Benefits 4,147 8,638 (4,491) 29, , % Payroll Taxes 714 1,383 (668) 6,902 16, % Electricity % Chemicals % Maintenance 3,141 2, ,562 32, % Materials & Supplies 1,903 3,425 (1,523) 10,550 41, % Professional Services % Transportation 0 13 (13) % Insurance (0) 4,134 8, % Rentals/Leases % Bad Debt % Other Expenses (130) 2,417 7, % TOTAL OPERATING EXPENSES 20,808 35,607 (14,799) 157, , % 24

43 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 UTILITY ENGINEERING CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 39,087 45,659 (6,571) 283, , % Employee Benefits 9,338 19,394 (10,056) 68, , % Payroll Taxes 3,003 3,493 (489) 21,615 41, % Electricity ,154 4, % Chemicals % Maintenance 235 1,311 (1,076) 1,119 15, % Materials & Supplies 674 1,467 (793) 4,571 17, % Professional Services % Transportation 0 42 (42) % Insurance ,946 5, % Rentals/Leases 5,917 5, ,502 71, % Bad Debt % Other Expenses 1,409 2,386 (977) 10,365 28, % TOTAL OPERATING EXPENSES 60,520 80,501 (19,982) 429, , % UTILITIES CIP CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 34,743 35,039 (296) 210, , % Employee Benefits 10,602 11,555 (953) 63, , % Payroll Taxes 2,529 2,681 (152) 15,107 32, % Electricity (0) 2,000 4, % Chemicals % Maintenance , % Materials & Supplies 348 2,017 (1,668) 5,655 24, % Professional Services 0 2,417 (2,417) 20,153 29, % Transportation 0 42 (42) % Insurance ,346 4, % Rentals/Leases % Bad Debt % Other Expenses 494 1,733 (1,240) 2,586 20, % TOTAL OPERATING EXPENSES 49,768 56,490 (6,721) 322, , % RECAP - REVENUE YEAR TO DATE Certification, Copies, Etc. & Admin. $ 40 Application Fees 2,176 TOTAL $ 2,216 25