CITY OF PORT ST. LUCIE UTILITY SYSTEMS DEPARTMENT

Transcription

1 CITY OF PORT ST. LUCIE UTILITY SYSTEMS DEPARTMENT FINANCIAL STATEMENT AND PROJECT REPORT Twelfth Month Ending September 30, 2017 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: November 27, 2017 SUBJECT: Financial Statements & Project Report, for month ending September 30, 2017 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 $4,770,908 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 $2,332,159. Water Operations, Wastewater Operation, Support Division, and Capital Facility Charges have been separated by plants or activity. Bad Debt Expense of $94,293 has been recorded in the current fiscal year. This represents 0.14% 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 $14,652,863. The balance of the receivable for the Honeywell Project is $148,644. 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 $26,698,544: Utility Refunding and Revenue Bonds Series 2007 is $11,235,513 Utility Revenue Refunding Bonds Series 2009 $3,459,531 Utility Revenue Refunding Bond Series 2012 $1,763,500 Utility Revenue Refunding Bond Series $1,479,250 Utility Refunding Revenue Bonds Series 2016 $8,760,750 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 157% and 168% with year-to-date 154% and 194%. 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 $8,897,792. Customer Deposits Funds received for Customer Deposits are located in Fund 431 Restricted Assets Cash & Equity in Pooled Cash in the amount of $7,883,006. Equivalent Residential Connection (ERC s) Report This report represents the total number of ERC s through September 30, 2017, 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.CITYOFPSL.COM

6 CITY OF PORT ST. LUCIE UTILITY SYSTEMS DEPARTMENT FINANCIAL STATEMENT AND PROJECT REPORT Twelfth Month Ending September 30, 2017 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 Matthew & 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 SEPTEMBER 30, 2017 UNAUDITED ASSETS CURRENT ASSETS Cash and Cash Equivalents $ 5,750 Equity in Pooled Cash and Investments 25,987,766 Receivables 9,390,884 Due From Other Funds - Due From Other Governmental Units - Prepaid Items 3,900 Deposits 43,136 Inventories 1,497,122 RESTRICTED ASSETS Equity in Pooled Cash and Investments 43,528,288 TOTAL CURRENT ASSETS 80,456,846 NONCURRENT ASSETS Receivables 7,521,220 Prepaid Insurance (COI) 4,047,323 Capital Assets (Net of Depreciation) 540,821,066 Capital Assets (Not Depreciated) 48,139,209 TOTAL NONCURRENT ASSETS 600,528,818 TOTAL ASSETS 680,985,663 DEFERRED OUTFLOW OF RESOURCES Loss on Bond Defeasance 14,647,929 LIABILITIES Current Liabilities Accounts Payable and Accrued Liabilities 2,188,399 Accrued Salaries and Wages 605,197 Due to Other Funds - Deposits 4,779,461 Unearned Revenue 2,584,211 Accrued Vacation and Medical Leave Benefits 233,853 Current Portion Long-Term Obligations 10,665,000 Restricted Liabilities: Payables from Restricted Assets 1,336,199 Retainage Payable from Restricted Assets - TOTAL CURRENT LIABILITIES 22,392,320 Noncurrent Liabilities Payables from Restricted Assets - Long Term Obligations 379,176,057 TOTAL NONCURRENT LIABILITIES 379,176,057 TOTAL LIABILITIES 401,568,377 NET POSITION Net Investment in Capital Assets 216,043,467 Restricted for Debt Service 6,045,763 Restricted for Capital Projects 18,559,924 Unrestricted Net Assets 53,416,061 TOTAL NET POSITION $ 294,065,215 1

11 CITY OF PORT ST. LUCIE - UTILITIES STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION TWELFTH MONTH ENDING SEPTEMBER 30, 2017 UNAUDITED OPERATING REVENUES Charges for Service $ 69,797,607 TOTAL OPERATING REVENUE 69,797,607 OPERATING EXPENSES Personal Services 18,278,273 Contractual Services 952,028 Depreciation Expense 32,550,000 Operating Supplies and Expenses 18,451,425 TOTAL OPERATING EXPENSES 70,231,726 OPERATING INCOME (LOSS) (434,119) NON OPERATING REVENUE (EXPENSE) Interest Income 714,657 Connection Fees 11,181,989 Interest Expense (14,786,978) Gain (Loss) on Disposition of Equipment 96,587 Miscellaneous 542,182 Guaranteed Revenue 128,347 TOTAL NON OPERATING REVENUE (EXPENSE) (3,061,385) INCOME (LOSS) BEFORE TRANSFERS, CONTRIBUTIONS, SPECIAL ITEMS, AND EXTRAORDINARY ITEMS (3,495,504) Capital Contributions 4,828,819 Transfers in 1,521,452 Transfers out 0 CHANGE IN FUND NET POSITION 2,854,767 TOTAL NET POSITION - BEGINNING 291,210,448 TOTAL NET POSITION - ENDING $294,065,215 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 SEPTEMBER 30, 2017 Based on Generally Accepted Accounting Principles UNAUDITED OPER RENEWAL INSTALL CONTING. CONN/LINE 2006 UTILITY & MAINT & REPL. FEES FUND FEES PROJ FUND CIP FUND DESCRIPTION TOTAL CURRENT ASSETS Cash & Equity in Pooled Cash 11,340, ,652, ,199,755 36,193,271 Accounts Receivable (Less Doubtful Accts.) 8,615, ,883, ,498,917 Accounts Receivable - Other 3, , ,543 Due From Other Govt. Units Due From Other Funds Inventories 1,144, , ,497,122 Prepaid Expenses 4,080, , ,094,359 TOTAL 25,185, ,510,227 14,652, ,199,755 58,548,212 RESTRICTED ASSETS Cash & Equity in Pooled Cash 12,161,422 2,332,159 8,098, ,513, , ,328,532 Accounts Receivable - Other Due From Other Gov. Units Due From Other Funds TOTAL 12,161,422 2,332,159 8,098, ,513, , ,328,532 NON CURRENT ASSETS Accounts Receivable , ,644 TOTAL , ,644 CAPITAL ASSETS Intangible Assets 886, ,615 Land 32,700, ,018, ,719,493 Buildings 723, , ,323 Traffic Control Devices 297, ,215 Machinery & Equipment 22,379, ,518, ,898,405 Plant 320,880, , ,065,564 Distribution/Collection 514,946, ,027, ,974,758 Construction in Progress 53,063 0 (30,259) 0 0 1,419, ,442,709 TOTAL 892,867, ,722, ,419, ,010,082 LESS ACCUM DEPR/AMORT 359,489, ,560, ,049,803 TOTAL 533,378, ,161, ,419, ,960,279 DEFERRED OUTFLOWS Defeasance 14,647, ,647,929 TOTAL 14,647, ,647,929 GRAND TOTAL 585,373,096 2,332,159 70,770,597 14,801,507 10,513,349 1,643,133 10,199, ,633,596 3

14 OPERATIONS RENEWAL INSTALL CONTING. CONN/LINE 2006 UTILITY & MAINT. & REPL. FEES FUND FEES PROJ FUND CIP FUND DESCRIPTION TOTAL CURRENT LIABILITIES Accounts Payable 1,358, ,358,047 Retainage Due to Other Funds Due to Other - Govt. Units Unearned Revenue 0 0 1,700, , ,584,211 State/Federal Taxes Accrued Salaries & Wages 575, , ,425 Accrued Vacation & Medical Benefits 229, , ,853 Current Portion Long Term Debt 10,665, ,665,000 TOTAL 12,827, ,734, , ,446,536 RESTRICTED LIABILITIES Accounts Payable 1,336, , , ,166,118 Retainage Arbitrage Payable Customer Deposits 4,779, ,779,461 Deposits - Other Due to Other Funds Due to Other - Govt. Units TOTAL 6,115, , , ,945,788 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 33,616, ,616,537 Other Post Employment Benefits Accrued Vacation & Medical Benefits 2,321, , ,364,520 TOTAL 379,133, , ,176,057 NET POSITION Net Position 187,296,112 1,629,622 68,865,948 13,917,296 10,513,349 1,643,133 10,199, ,065,215 TOTAL 187,296,112 1,629,622 68,865,948 13,917,296 10,513,349 1,643,133 10,199, ,065,215 GRAND TOTAL 585,373,096 2,332,159 70,770,597 14,801,507 10,513,349 1,643,133 10,199, ,633,596 4

15 Profit and Loss Statement - Operating Fund GAAP Basis

16 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATIONS BY UTILITIES TWELFTH MONTH ENDING SEPTEMBER 30, 2017 Based on Generally Accepted Accounting Principles OPERATING FUND 431 WATER SEWER TOTAL OPERATING REVENUES: Sales - Service 28,875,439 32,144,965 61,020,404 System Installation Fee 125,439 64, ,026 Miscellaneous Revenue 3,271,087 1,943,066 5,214,153 6% Surcharge 2,074,360 2,074,360 4,148,720 TOTAL OPERATING REVENUES 34,346,325 36,226,978 70,573,303 Salaries 3,047,931 2,381,508 5,429,439 Employee Benefits 1,311, ,831 2,254,253 Payroll Taxes 221, , ,787 Electricity 2,238, ,694 3,055,763 Chemicals 1,214, ,592 1,638,326 Maintenance 358, , ,008 Materials & Supplies 432, , ,875 Professional Services 45,145 30,538 75,683 Transportation ,073 Insurance 177, , ,493 Rentals/Leases 17, ,392 Bad Debt 150, , ,000 Other Expenses 535,687 1,531,649 2,067,336 Franchise 150, , ,000 Administrative Expenses 8,167,647 8,412,335 16,579,982 Hurricane Expense 453, , ,910 TOTAL OPERATING EXPENSES 18,523,477 16,184,843 34,708,320 NET OPERATING REVENUE BEFORE DEPRECIATION 15,822,848 20,042,135 35,864,983 DEPRECIATION 13,800,000 13,800,000 27,600,000 NET OPERATING REV./(LOSS) 2,022,848 6,242,135 8,264,983 NON-OPERATING REVENUE AND (EXPENSES) Interest Income 127, , ,115 Guaranteed Revenue 45,247 83, ,347 Interest Expense (8,262,016) (8,262,015) (16,524,031) Amortization of Bonds Discount & Expense 868, ,526 1,737,053 Capital Contribution 2,414,410 2,414,410 4,828,820 Transfer In 1,276,998 1,276,998 2,553,996 Transfer Out (7,692,064) (8,292,064) (15,984,128) TOTAL (11,221,342) (11,783,487) (23,004,829) NET REVENUE/(LOSS) (9,198,494) (5,541,352) (14,739,846) 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 TWELFTH MONTH ENDING SEPTEMBER 30, 2017 Based on Generally Accepted Accounting Principles OPERATING REVENUES: Sales - Service 4,606,252 4,985,000 (378,748) 61,020,404 59,820, % Systems Installation Fee 12,971 16,250 (3,279) 190, , % Miscellaneous 470, ,332 76,916 5,214,153 4,719, % 6% Surcharge 357, ,083 17,689 4,148,720 4,081, % Cash Balance Forward 0 1,807,283 (1,807,283) 0 21,687, % TOTAL OPERATING REVENUES 5,447,243 7,541,948 (2,094,705) 70,573,303 90,503, % Salaries 933,093 1,112,258 (179,165) 12,926,438 13,764, % Employee Benefits 349, ,757 (177,599) 5,323,526 6,426, % Payroll Taxes 66,634 81,786 (15,152) 936,219 1,008, % Electricity 307, ,811 1,270 3,376,826 3,669, % Chemicals 203, ,562 49,984 1,638,326 1,842, % Maintenance 229, ,327 89,979 1,408,787 1,671, % Materials & Supplies 169, ,450 46,516 1,278,090 1,561, % Professional Services 40,991 39,790 1, , , % Transportation 24,242 32,038 (7,796) 366, , % Insurance 36,336 36, , , % Rentals/Leases 20,705 19, , , % Bad Debt (180,707) 25,000 (205,707) 94, , % Other Expenses 357, ,632 27,843 3,186,573 3,990, % Franchise 25,000 25, , , % Administrative Expenses 249, , ,998,104 2,998, % Contingency 0 956,449 (956,449) 0 11,477, % TOTAL OPERATING EXPENSES 2,832,668 4,156,503 (1,323,835) 34,708,320 50,543, % NET OPERATING REVENUE BEFORE DEPRECIATION 2,614,575 3,385,446 (770,871) 35,864,983 39,959, % DEPRECIATION 2,300, ,300,000 27,600, % NET OPERATING REV./(LOSS) 314,575 3,385,446 (3,070,871) 8,264,983 39,959, % NON-OPERATING REVENUE AND (EXPENSES) Interest Income 17,137 14,608 2, , , % Guaranteed Revenue ,583 (18,597) 128, , % Interest Expense (1,336,199) (1,513,971) 177,772 (16,524,031) (18,167,651) 90.95% Amortization of Bond Discount & Expense 170, ,282 1,737, % Capital Contribution 4,828, ,828,819 4,828, % Transfer from Other Funds 212, ,199 (535) 2,553,996 2,558, % Transfer to Other Funds (505,022) (482,919) (22,104) (15,984,128) (5,795,022) % TOTAL 3,388,667 (1,749,499) 5,138,167 (23,004,829) (20,993,985) % NET REVENUE/(LOSS) 3,703,242 1,635,946 2,067,296 (14,739,846) 18,965, % 6

19 Comparative Statement - Actual Current Month September 2017 & Prior Month August 2017 Current Fiscal Year-to-Date 9/30/17 & Prior Fiscal Year-to-Date 9/30/16

20 CITY OF PORT ST. LUCIE UTILITY SYSTEMS COMPARATIVE STATEMENT - ACTUAL MONTH OF SEPTEMBER 2017, MONTH OF AUGUST 2017; AND YEAR TO DATE SEPTEMBER 2017, YEAR TO DATE SEPTEMBER 2016 MONTH YEAR-TO-DATE ACTUAL ACTUAL ACTUAL ACTUAL OPERATING FUND 431 Sep-17 Aug-17 Over/(Under) Sep-17 Sep-16 Over/(Under) OPERATING REVENUES: Sales - Service 4,606,252 4,780,968 (174,716) 61,020,404 58,656,073 2,364,331 Systems Installation Fee 12,971 12, , ,065 (56,039) Miscellaneous 470, ,777 63,471 5,214,153 6,403,056 (1,188,903) 6% Surcharge 357, ,357 33,415 4,148,720 3,950, ,235 Interest Income 17,137 24,261 (7,124) 255, ,018 87,097 Guaranteed Revenue 986 2,114 (1,128) 128, ,439 (9,092) TOTAL OPERATING REVENUE 5,465,366 5,550,485 (85,119) 70,956,765 69,561,136 1,395,629 Cash Balance Forward NON OPERATING REVENUE TOTAL REVENUES 5,465,366 5,550,485 (85,119) 70,956,765 69,561,136 1,395,629 Salaries 933,093 1,129,744 (196,651) 12,926,438 11,722,233 1,204,205 Employee Benefits 349, ,035 (98,877) 5,323,526 4,699, ,173 Payroll Taxes 66,634 82,940 (16,306) 936, ,913 80,306 Electricity 307, ,958 28,123 3,376,826 3,214, ,658 Chemicals 203, ,193 73,353 1,638,326 1,416, ,543 Maintenance 229, , ,167 1,408,787 1,182, ,880 Materials & Supplies 169, ,124 69,842 1,278,090 1,094, ,143 Professional Services 40,991 4,008 36, , ,565 (90,558) Transportation 24,242 30,650 (6,408) 366, ,583 (18,955) Insurance 36,336 36,355 (19) 440, ,877 10,464 Rentals/Leases 20,705 21,041 (336) 213, ,655 5,507 Bad Debt (180,707) 25,000 (205,707) 94,293 (287,546) 381,839 Other Expenses 357, , ,497 3,186,573 2,192, ,031 Administrative Expenses 249, , ,998,104 2,527, ,796 Franchise 25,000 25, , ,000 0 Principal - Bonds 0 (9,257,576) 9,257, Interest Expense 1,336,199 1,380,712 (44,513) 16,524,031 18,972,215 (2,448,184) TOTAL OPERATING EXPENSES 4,168,867 (4,987,857) 9,156,724 51,232,351 49,225,503 2,006,848 Capital Expenditures 172, ,870 (61,714) 829, , ,104 Capital Contribution (4,828,819) 0 (4,828,819) (4,828,819) (3,443,200) (1,385,619) Transfers In (212,664) (212,694) 30 (2,553,996) (8,734,315) 6,180,319 Transfer Out 505, ,908 24,114 15,984,128 5,716,625 10,267,503 TOTAL NON OPERATING EXPENSES (4,364,305) 502,084 (4,866,389) 9,430,684 (6,099,623) 15,530,307 TOTAL EXPENSES (195,438) (4,485,773) 4,290,335 60,663,035 43,125,880 17,537,155 NET REVENUE/(LOSS) 5,660,804 10,036,258 (4,375,454) 10,293,730 26,435,256 (16,141,526) 7

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

22 CITY OF PORT ST. LUCIE UTILITY SYSTEMS COMBINED STATEMENT - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 Budget Basis OPERATING REVENUES: Sales - Service 4,606,252 4,985,000 (378,748) 61,020,404 59,820, % Systems Installation Fee 12,971 16,250 (3,279) 190, , % Miscellaneous 470, ,332 76,916 5,214,153 4,719, % 6% Surcharge 357, ,083 17,689 4,148,720 4,081, % Interest Income 17,137 14,608 2, , , % Guaranteed Revenue ,583 (18,597) 128, , % Capital Contribution 4,828, ,828,819 4,828, % Transfers In 212, ,199 (535) 2,553,996 2,558, % Cash Balance Forward 0 1,807,283 (1,807,283) 0 21,687, % TOTAL OPERATING REVENUES 10,506,849 7,789,339 2,717,510 78,339,580 93,472, % Salaries 933,093 1,112,258 (179,165) 12,926,438 13,764, % Employee Benefits 349, ,757 (177,599) 5,323,526 6,426, % Payroll Taxes 66,634 81,786 (15,152) 936,219 1,008, % Electricity 307, ,811 1,270 3,376,826 3,669, % Chemicals 203, ,562 49,984 1,638,326 1,842, % Maintenance 229, ,327 89,979 1,408,787 1,671, % Materials & Supplies 169, ,450 46,516 1,278,090 1,561, % Professional Services 40,991 39,790 1, , , % Transportation 24,242 32,038 (7,796) 366, , % Insurance 36,336 36, , , % Rentals/Leases 20,705 19, , , % Bad Debt (180,707) 25,000 (205,707) 94, , % Other Expenses 357, ,632 27,843 3,186,573 3,990, % Administrative Expenses 249, , ,998,104 2,998, % Franchise 25,000 25, , , % Principal - Bond 0 1,018,333 (1,018,333) 0 12,220, % Interest Expense 1,336,199 1,513,971 (177,772) 16,524,031 18,167, % Capital Expenditures 172, ,166 (390,010) 829,371 6,745, % Transfer Out 505, ,919 22,104 15,984,128 5,795, % Contingency 0 956,449 (956,449) 0 11,477, % TOTAL OPERATING EXPENSES 4,846,045 7,733,891 (2,887,846) 68,045,850 93,472, % NET REVENUE/(LOSS) 5,660,804 55,448 5,605,356 10,293, % 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 TWELFTH MONTH ENDING SEPTEMBER 30, 2017 (1) (1) OPERATING REVENUES: Water System 2,208,492 2,285,000 (76,508) 28,875,439 27,420, % Wastewater System 2,397,760 2,700,000 (302,240) 32,144,965 32,400, % Interest Income 130,220 33,442 96, , , % Meter Installation Fees 12,971 12, , , % Wastewater Step System / Grinder 0 3,750 (3,750) 64,587 45, % Miscellaneous 144, ,479 (440,752) 9,327,089 7,025, % Guaranteed Revenue ,583 (18,597) 128, , % 6% Surcharge 357, ,083 17,689 4,148,720 4,081, % TOTAL OPERATING REVENUES 5,252,928 5,979,837 (726,909) 75,406,140 71,758, % Water System 1,883,094 1,653, ,879 18,523,477 19,838, % Wastewater System 1,567,255 1,430, ,879 16,184,843 17,164, % 3,450,349 3,083, ,758 34,708,320 37,003, % NET OPERATING REVENUE 1,802,579 2,896,246 (1,093,667) 40,697,820 34,754, % Part A NET OPERATING REVENUE 1,802,579 2,896,246 (1,093,667) 40,697,820 34,754, % DEBT SERVICE 1,151,200 2,224,879 (1,073,679) 26,449,031 26,698, % Projected 157% 130% 154% 130% Minimum 100% 100% 100% 100% Part B NET OPERATING REVENUE 1,802,579 2,896,246 (1,093,667) 40,697,820 34,754, % CURRENT SUBACCOUNTS (2) 126, , (749,167) 10,513,349 10,513, % TOTAL 1,929,524 3,772,359 (1,842,835) 51,211,169 45,268, % DEBT SERVICE 1,151,200 2,224,879 (1,073,679) 26,449,031 26,698, % Projected 168% 170% 194% 170% 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 TWELFTH MONTH ENDING SEPTEMBER 30, 2017 SUMMARY - WATER TREATMENT & PREVENTATIVE MAINTENANCE OPERATIONS OPERATING REVENUES: Sales - Service 2,208,492 2,285,000 (76,508) 28,875,439 27,420, % Installation Fees 12,971 12, , , % Miscellaneous Revenue 21,312 57,500 (36,188) 645, , % TOTAL OPERATING REVENUES 2,242,775 2,355,000 (112,225) 29,646,231 28,260, % Salaries 232, ,293 (30,148) 3,047,931 3,147, % Employee Benefits 88, ,097 (45,053) 1,311,422 1,597, % Payroll Taxes 16,136 18,747 (2,611) 221, , % Electricity 185, ,759 (16,090) 2,238,069 2,421, % Chemicals 162, ,731 59,765 1,214,734 1,232, % Maintenance 33,068 42,623 (9,555) 358, , % Materials & Supplies 82,454 41,178 41, , , % Professional Services 9,157 9,662 (505) 45, , % Transportation (133) 893 2, % Insurance 14,596 14, , , % Rentals/Leases 316 2,435 (2,119) 17,392 29, % Bad Debt % Other Expenses 82,543 65,349 17, , , % TOTAL OPERATING EXPENSES 906, ,501 12,158 9,601,875 10,734, % NET OPERATING REVENUE BEFORE DEPRECIATION 1,336,117 1,460,500 (124,383) 20,044,356 17,525, % DEPRECIATION 1,150, ,150,000 13,800, % NET OPERATING REVENUE/(LOSS) 186,117 1,460,500 (1,274,383) 6,244,356 17,525, % 10

27 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 SUMMARY - WATER TREATMENT OPERATIONS Salaries 114, ,463 3,985 1,274,337 1,325, % Employee Benefits 35,347 51,697 (16,350) 482, , % Payroll Taxes 7,868 7, ,605 94, % Electricity 184, ,022 (16,211) 2,231,402 2,412, % Chemicals 162, ,715 59,782 1,214,734 1,232, % Maintenance 22,062 29,903 (7,841) 215, , % Materials & Supplies 46,578 17,451 29, , , % Professional Services 9,157 9,616 (459) 45, , % Transportation (41) % Insurance 11,575 11, , , % Rentals/Leases (340) 3,208 7, % Bad Debt % Other Expenses 54,992 33,589 21, , , % TOTAL OPERATING EXPENSES 649, ,468 73,217 6,234,068 6,917, % 11

28 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 PRINEVILLE WATER TREATMENT PLANT Salaries 56,992 69,093 (12,101) 769, , % Employee Benefits 20,750 34,551 (13,801) 301, , % Payroll Taxes 3,795 4,808 (1,013) 56,486 57, % Electricity 84,431 98,417 (13,986) 1,029,722 1,181, % Chemicals 88,273 57,851 30, , , % Maintenance 9,678 21,127 (11,449) 112, , % Materials & Supplies 5,556 9,280 (3,724) 90, , % Professional Services 2,363 4,292 (1,929) 2,363 51, % Transportation % Insurance 5,689 5, ,549 67, % Rentals/Leases (631) 2,892 7, % Bad Debt % Other Expenses (1) 25,254 20,473 4, , , % TOTAL OPERATING EXPENSES 302, ,155 (23,340) 3,299,082 3,913, % (1) Sludge Hauling - Year to Date $48,488 JAMES E ANDERSON WATER TREATMENT PLANT Salaries 57,456 41,370 16, , , % Employee Benefits 14,597 17,146 (2,549) 181, , % Payroll Taxes 4,073 3,033 1,040 37,119 36, % Electricity 100, ,605 (2,225) 1,201,680 1,231, % Chemicals 74,223 44,863 29, , , % Maintenance 12,384 8,776 3, , , % Materials & Supplies 41,022 8,171 32,851 99,236 98, % Professional Services 6,794 5,324 1,470 42,782 63, % Transportation 0 54 (54) % Insurance 5,886 5, ,866 69, % Rentals/Leases % Bad Debt % Other Expenses 29,738 13,116 16, , , % TOTAL OPERATING EXPENSES 346, ,312 96,557 2,934,986 3,003, % 12

29 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 WATER - CROSS CONNECTION Salaries 8,019 27,306 (19,287) 294, , % Employee Benefits 8,686 15,467 (6,781) 163, , % Payroll Taxes 601 1,841 (1,240) 20,899 22, % Electricity % Chemicals % Maintenance 1,235 1,706 (471) 16,573 20, % Materials & Supplies 3,623 4,356 (733) 37,029 52, % Professional Services % Transportation 0 42 (42) % Insurance ,352 5, % Rentals/Leases % Bad Debt % Other Expenses 1,657 1, ,104 19, % TOTAL OPERATING EXPENSES 24,267 52,750 (28,483) 547, , % WATER DISTRIBUTION - PREVENTATIVE MAINTENANCE Salaries 83,340 94,060 (10,720) 1,123,781 1,128, % Employee Benefits 31,196 48,526 (17,330) 479, , % Payroll Taxes 5,772 6,751 (979) 81,864 81, % Electricity 0 63 (63) % Chemicals 0 8 (8) % Maintenance 7,525 6, ,202 83, % Materials & Supplies 9,160 7,292 1,868 76,965 87, % Professional Services 0 25 (25) % Transportation 0 8 (8) % Insurance 1,587 1, ,044 19, % Rentals/Leases 0 13 (13) % Bad Debt % Other Expenses 8,273 5,728 2,545 61,016 68, % TOTAL OPERATING EXPENSES 146, ,001 (24,148) 1,924,615 2,052, % 13

30 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 MCCARTY RANCH Salaries % Employee Benefits % Payroll Taxes % Electricity ,467 6, % Chemicals % Maintenance (421) 9,906 9, % Materials & Supplies (92) 601 2, % Professional Services % Transportation % Insurance ,428 4, % Rentals/Leases % Bad Debt % Other Expenses 16,230 23,375 (7,145) 115, , % TOTAL OPERATING EXPENSES 17,790 25,240 (7,450) 135, , % WATER MAINTENANCE Salaries 26,338 30,465 (4,127) 354, , % Employee Benefits 12,815 17,407 (4,592) 185, , % Payroll Taxes 1,895 2,314 (419) 25,246 27, % Electricity (25) 1,200 1, % Chemicals 0 8 (8) % Maintenance 1,888 3,293 (1,405) 34,333 39, % Materials & Supplies 23,018 11,913 11, , , % Professional Services 0 21 (21) % Transportation 0 42 (42) % Insurance ,428 7, % Rentals/Leases 0 1,767 (1,767) 14,130 21, % Bad Debt % Other Expenses 1,391 1, ,153 12, % TOTAL OPERATING EXPENSES 68,064 69,042 (978) 759, , % 14

31 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATISTICS - WATER TWELFTH MONTH ENDING SEPTEMBER 30, 2017 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 -5.18% 7.02% Average Daily Treated MGD Highest Daily Treated MGD Utilization 48.10% NUMBER OF CUSTOMERS BILLED Residential 69,618 Multi-Family 147 Commercial /Government 1,983 TOTAL 71,748 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 TWELFTH MONTH ENDING SEPTEMBER 30, 2017 SUMMARY - WASTEWATER PLANTS & MAINTENANCE OPERATIONS OPERATING REVENUES: Sales - Service 2,397,760 2,700,000 (302,240) 32,144,965 32,400, % Step and Grinder System Installation 0 3,750 (3,750) 64,587 45, % Miscellaneous Revenue 487 1,250 (763) 5,792 15, % TOTAL OPERATING REVENUES 2,398,247 2,705,000 (306,753) 32,215,344 32,460, % Salaries 122, ,925 (100,683) 2,381,508 2,675, % Employee Benefits 61,081 98,504 (37,423) 942,831 1,182, % Payroll Taxes 8,386 15,878 (7,492) 174, , % Electricity 71,952 74,471 (2,519) 817, , % Chemicals 41,050 50,773 (9,723) 423, , % Maintenance 11,844 28,909 (17,065) 333, , % Materials & Supplies 20,981 28,031 (7,050) 248, , % Professional Services 4,726 4, ,538 55, % Transportation (184) 180 2, % Insurance 11,086 10, , , % Rentals/Leases (742) 0 8, % Bad Debt % Other Expenses 139, ,475 (21,248) 1,531,649 1,925, % TOTAL OPERATING EXPENSES 492, ,482 (203,891) 7,018,553 8,357, % NET OPERATING REVENUE BEFORE DEPRECIATION 1,905,656 2,008,518 (102,862) 25,196,791 24,102, % DEPRECIATION 1,150, ,150,000 13,800, % NET OPERATING REVENUE/(LOSS) 755,656 2,008,518 (1,252,862) 11,396,791 24,102, % 16

34 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 SUMMARY - WASTEWATER PLANT OPERATIONS Salaries 85,030 94,798 (9,768) 1,077,508 1,137, % Employee Benefits 30,618 43,367 (12,749) 418, , % Payroll Taxes 6,234 7,099 (865) 78,863 85, % Electricity 71,358 74,054 (2,696) 813, , % Chemicals 41,050 50,764 (9,714) 423, , % Maintenance 2,305 12,355 (10,050) 139, , % Materials & Supplies 4,408 9,825 (5,417) 66, , % Professional Services 4,726 4, ,538 54, % Transportation 0 42 (42) % Insurance 8,982 8, , , % Rentals/Leases (500) 0 6, % Bad Debt % Other Expenses 123, ,825 (31,224) 1,458,158 1,857, % TOTAL OPERATING EXPENSES 378, ,017 (82,705) 4,616,356 5,532, % 17

35 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 WESTPORT WASTEWATER TREATMENT PLANT Salaries 3,593 44,211 (40,618) 481, , % Employee Benefits 10,444 20,112 (9,668) 197, , % Payroll Taxes 173 3,382 (3,209) 35,065 40, % Electricity 37,738 34,871 2, , , % Chemicals 6,820 17,181 (10,361) 154, , % Maintenance 717 2,967 (2,250) 32,802 35, % Materials & Supplies 950 4,888 (3,938) 24,175 58, % Professional Services 2, ,530 2,573 10, % Transportation 0 21 (21) % Insurance 3,648 3, ,673 42, % Rentals/Leases (417) 0 5, % Bad Debt % Other Expenses (1) 57,810 37,133 20, , , % TOTAL OPERATING EXPENSES 124, ,589 (45,333) 1,746,387 2,035, % (1) Sludge Hauling - Year to Date $302,994 GLADES WASTEWATER TREATMENT PLANT Salaries 81,437 50,587 30, , , % Employee Benefits 20,174 23,255 (3,081) 220, , % Payroll Taxes 6,061 3,717 2,344 43,798 44, % Electricity 33,620 39,183 (5,563) 431, , % Chemicals 34,230 33, , , % Maintenance 1,588 9,388 (7,800) 106, , % Materials & Supplies 3,458 4,937 (1,479) 42,393 59, % Professional Services 2,363 3,725 (1,362) 27,965 44, % Transportation 0 21 (21) % Insurance 5,334 5, ,905 63, % Rentals/Leases 0 83 (83) 0 1, % Bad Debt % Other Expenses (1) 65, ,692 (51,901) 1,066,517 1,412, % TOTAL OPERATING EXPENSES 254, ,429 (37,373) 2,869,969 3,497, % (1) Sludge Hauling - Year to Date $915,089 18

36 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 WASTEWATER - PREVENTATIVE MAINTENANCE OPERATIONS Salaries 19, ,812 (84,151) 1,036,135 1,245, % Employee Benefits 22,442 42,162 (19,720) 394, , % Payroll Taxes 939 7,174 (6,235) 76,043 86, % Electricity 0 42 (42) % Chemicals % Maintenance 7,993 13,429 (5,436) 156, , % Materials & Supplies 11,030 11,950 (920) 104, , % Professional Services 0 83 (83) 0 1, % Transportation (134) 165 1, % Insurance 1,647 1, ,764 19, % Rentals/Leases 0 17 (17) % Bad Debt % Other Expenses 14,586 4,879 9,707 67,515 58, % TOTAL OPERATING EXPENSES 78, ,345 (107,031) 1,855,214 2,224, % WASTEWATER MAINTENANCE Salaries 17,551 24,315 (6,764) 267, , % Employee Benefits 8,021 12,975 (4,954) 130, , % Payroll Taxes 1,213 1,604 (391) 19,267 19, % Electricity ,135 4, % Chemicals 0 8 (8) % Maintenance 1,546 3,126 (1,580) 36,851 37, % Materials & Supplies 5,543 6,256 (713) 76,953 75, % Professional Services % Transportation 0 8 (8) % Insurance (0) 5,484 5, % Rentals/Leases (225) 0 2, % Bad Debt % Other Expenses 1, ,976 9, % TOTAL OPERATING EXPENSES 35,965 50,120 (14,155) 546, , % 19

37 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATISTICS - WASTEWATER TWELFTH MONTH ENDING SEPTEMBER 30, 2017 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 Residential - Combined Water & Sewer 51,229 Residential - Sewer Only 89 Multi-Family 147 Commercial - Combined Water & Sewer 1,491 Commercial - Sewer Only 4 TOTAL 52,960 CONNECTIONS GLADES WESTPORT TOTAL 21,170 34,750 55,920 MAXIMUM DAILY FLOW Millions of Gallons Daily AVERAGE DAILY FLOW Millions of Gallons Daily PERMITTED CAPACITY Millions of Gallons Daily UTILIZATION 53.87% 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 TWELFTH MONTH ENDING SEPTEMBER 30, 2017 ADMINISTRATIVE Salaries 90,439 73,671 16, , , % Employee Benefits 19,959 25,177 (5,218) 271, , % Payroll Taxes 5,895 5, ,614 67, % Electricity (125) 8,500 10, % Chemicals % Maintenance (491) 5,104 9, % Materials & Supplies 1,788 2,100 (312) 15,049 25, % Professional Services 3,860 9,361 (5,501) 75, , % Transportation 0 33 (33) % Insurance 3,319 3, ,828 39, % Rentals/Leases 0 58 (58) % Bad Debt % Other Expenses 15,915 13,412 2, , , % Administrative Expenses 249, , ,998,104 2,998, % TOTAL OPERATING EXPENSES 392, ,215 7,793 4,514,010 4,610, % 21

40 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 SUMMARY - CUSTOMER SERVICE, BILLING, AND METER READING OPERATING REVENUES: Miscellaneous Revenue (1) 448, , ,867 4,563,008 4,014, % 6% Surcharge 357, ,083 17,689 4,148,720 4,081, % TOTAL OPERATING REVENUES 806, , ,556 8,711,728 8,095, % Salaries 103, ,511 (105,168) 1,735,067 2,502, % Employee Benefits 48,057 97,566 (49,509) 769,145 1,170, % Payroll Taxes 7,335 16,155 (8,820) 124, , % Electricity (239) 1,230 6, % Chemicals % Maintenance 2,099 16,282 (14,183) 150, , % Materials & Supplies 17,321 11,471 5,850 83, , % Professional Services % Transportation 23,590 31,304 (7,714) 363, , % Insurance 1,933 2,374 (441) 23,196 28, % Rentals/Leases 11,764 14,521 (2,757) 102, , % Bad Debt (180,707) 25,000 (205,707) 94, , % Other Expenses 84,047 63,749 20, , , % TOTAL OPERATING EXPENSES 119, ,487 (368,388) 4,115,122 5,849, % NET REVENUE/(LOSS) 687, , ,944 4,596,606 2,246, % Month Year to date (1) Customer Billing Charge $219,155 $2,600,387 22

41 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 CUSTOMER SERVICE Salaries 70, ,702 (44,424) 1,237,997 1,376, % Employee Benefits 33,796 56,141 (22,345) 543, , % Payroll Taxes 4,976 8,979 (4,003) 88, , % Electricity/Cable TV 0 4 (4) % Chemicals % Maintenance 225 1,899 (1,674) 2,790 22, % Materials & Supplies 11,229 3,400 7,829 29,618 40, % Professional Services % Transportation % Insurance 1,086 1, ,032 13, % Rentals/Leases 6,688 6, ,255 80, % Bad Debt (1) (180,707) 25,000 (205,707) 94, , % Other Expenses 66,275 50,942 15, , , % TOTAL OPERATING EXPENSES 13, ,841 (254,995) 2,675,652 3,226, % (1) Allowance for Doubtful Accounts True-Up BILLING Salaries 17,675 27,565 (9,890) 310, , % Employee Benefits 9,638 16,123 (6,485) 155, , % Payroll Taxes 1,236 2,109 (873) 21,797 25, % Electricity % Chemicals % Maintenance 0 11,275 (11,275) 123, , % Materials & Supplies 1,747 2,921 (1,174) 26,670 35, % Professional Services % Transportation 23,584 31,250 (7,666) 363, , % Insurance ,736 2, % Rentals/Leases 5,076 1,917 3,159 22,235 23, % Bad Debt % Other Expenses 16,272 8,835 7,437 76, , % TOTAL OPERATING EXPENSES 75, ,223 (26,767) 1,102,081 1,226, % 23

42 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 METER READING Salaries 15,390 21,170 (5,780) 186, , % Employee Benefits 4,623 9,148 (4,525) 70, , % Payroll Taxes 1,123 1,620 (497) 13,739 19, % Electricity ,217 1, % Chemicals % Maintenance 1,874 2,351 (477) 24,849 28, % Materials & Supplies 4,345 3, ,294 45, % Professional Services % Transportation 6 13 (7) % Insurance (0) 7,428 7, % Rentals/Leases % Bad Debt % Other Expenses 1, ,818 11, % TOTAL OPERATING EXPENSES 29,797 39,767 (9,969) 337, , % 24

43 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 UTILITY ENGINEERING Salaries 50,519 45,074 5, , , % Employee Benefits 11,809 16,153 (4,344) 147, , % Payroll Taxes 3,920 3, ,784 41, % Electricity (15) 4,711 5, % Chemicals % Maintenance (569) 2,629 9, % Materials & Supplies 2,334 1, ,092 16, % Professional Services % Transportation 0 42 (42) % Insurance (1) 5,280 5, % Rentals/Leases 5,917 5, ,000 71, % Bad Debt % Other Expenses 1,632 3,033 (1,401) 21,862 36, % TOTAL OPERATING EXPENSES 77,186 76, , , % UTILITIES CIP Salaries 114,990 34,565 80, , , % Employee Benefits 17,067 11,512 5, , , % Payroll Taxes 8,782 2,644 6,138 35,995 31, % Electricity (0) 4,000 4, % Chemicals % Maintenance (135) 2,197 3, % Materials & Supplies 2,364 1, ,663 23, % Professional Services 18,788 15,417 3,371 65, , % Transportation 0 42 (42) % Insurance ,212 4, % Rentals/Leases % Bad Debt % Other Expenses 1,026 1,850 (824) 11,398 22, % TOTAL OPERATING EXPENSES 163,882 68,963 94, , , % RECAP - REVENUE YEAR TO DATE Certification, Copies, Etc. & Admin. $ 80 Application Fees 8,040 TOTAL $ 8,120 25

44 CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET TWELFTH MONTH ENDING SEPTEMBER 30, 2017 UTILITIES MAPPING Salaries (1) (46,090) 39,141 (85,231) 375, , % Employee Benefits 5,148 20,248 (15,100) 201, , % Payroll Taxes (3,577) 2,994 (6,571) 26,442 35, % Electricity (34) 3,130 5, % Chemicals % Maintenance 2,881 11,641 (8,760) 108, , % Materials & Supplies 1,876 3,175 (1,299) 24,077 38, % Professional Services (667) 0 8, % Transportation 0 17 (17) % Insurance (0) 5,196 5, % Rentals/Leases 0 83 (83) 740 1, % Bad Debt % Other Expenses 882 2,102 (1,220) 5,609 25, % TOTAL OPERATING EXPENSES (38,064) 80,918 (118,982) 750, , % (1) Compensated Absences Adjustment INSPECTIONS Salaries 34,658 28,954 5, , , % Employee Benefits 13,035 16,470 (3,435) 169, , % Payroll Taxes 2,611 2, ,501 26, % Electricity % Chemicals % Maintenance 3, ,814 16,976 5, % Materials & Supplies 3,467 3,952 (485) 30,350 47, % Professional Services % Transportation % Insurance ,484 5, % Rentals/Leases % Bad Debt % Other Expenses 3,650 1,842 1,808 19,120 22, % TOTAL OPERATING EXPENSES 61,197 54,345 6, , , % RECAP - REVENUE YEAR TO DATE Inspection Fees $ 167,571 Pre-Inspection, Administration Charge - TOTAL $ 167,571 26