CITY OF PORT ST. LUCIE UTILITY SYSTEMS DEPARTMENT

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

INTRODUCTORY SECTION Interoffice Memorandum Table Of Contents

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 2017-18 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.

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 441 2006 Series Project Fund 445 Utility CIP Fund 448 Annual Debt Service Principal and Interest requirements for Fiscal Year 2017-2018 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 2014 - $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).

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 871-5201. 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 34984-5099 Phone (772) 871-5330 Fax (772) 871-7342 TDD (772) 344-4137 E-mail: info@cityofpsl.com W W W.CIT YO FPS L.COM

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... 3-4 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... 10 Profit and Loss Statement Water Treatment Operations, GAAP Basis Statement of Operation - Water Treatment Operations... 11 Statement of Operation - Water Treatment Plants -Prineville - 3310... 12 Statement of Operation - Water Treatment Plants - James E. Anderson - 3312... 12 Profit and Loss Statement Water Distribution Operations, GAAP Basis Statement of Operation - Water Cross Connection - 3311... 13 Statement of Operation - Water - Preventative Maintenance - 3316... 13 Statement of Operation McCarty Ranch - 3314... 14 Statement of Operation Water Maintenance 3360 14 Statistics Statistics - Water... 15 WASTEWATER OPERATIONS Profit and Loss Statement Combined Wastewater Plants and Collection Operations, GAAP Basis Summary - Wastewater Plants & Maintenance Operations... 16 Profit and Loss Statement Wastewater Treatment Operations, GAAP Basis Summary - Wastewater Plant Operations... 17 Statement of Operation Wastewater Plants Westport Wastewater 3512... 18 Statement of Operation Wastewater Plants Glades Wastewater 3513... 18 Profit and Loss Statement Wastewater Collection Field Operations, GAAP Basis Statement of Operation - Wastewater - Preventative Maintenance Operations - 3516... 19 Statement of Operation - Wastewater Maintenance - 3560... 19

TABLE OF CONTENTS Page SUPPORT DIVISIONS Statistics Statistics - Wastewater... 20 Administration Statement of Operation - Administrative - 1340... 21 Customer Service Summary - Customer Service, Billing & Meter Reading... 22 Statement of Operation Customer Service - 1346... 23 Statement of Operation - Billing - 1347... 23 Statement of Operation Meter Reading - 1348... 24 Utilities Engineering Statement of Operation - Utilities Engineering - 1350... 25 Statement of Operation Utilities CIP 1355 25 Utilities Mapping Statement of Operation - Utilities Mapping - 1360... 26 Inspections/Locates Statement of Operation - Inspections - 1375... 26 Laboratory Statement of Operation - Laboratory - 1380... 27 Utility Warehouse Statement of Operation - Utility Warehouse - 3345... 28 Plant & Field Repairs & Maintenance Summary of Plant & Field Repairs & Maintenance... 29 Statement of Operation - Inflow - Infiltration - 3370... 30 Statement of Operation - Lift Stations - 3380... 31 Statement of Operation - Telemetry & Instrumentation - 3390... 31 CAPITAL FACILITY CHARGES Water Meters Statement of Operation Residential Installations Water Meters - 3315... 32 Grinder Systems Statement of Operation - Residential Installations-Wastewater Grinder Systems - 3515 33 OTHER INFORMATION Statement of Operation Hurricane Matthew & Irma 431... 34 Statement of Operation Hurricane Irma 439... 35 Equivalent Residential Connections (ERC s)... 36 Analysis of Capital Projects and Projected Sources and Uses... 37-39 Cash Receipts and Disbursements Analysis - Fund 431... 40 Cash Receipts and Disbursements Analysis - Fund 438... 41 Cash Receipts and Disbursements Analysis - Fund 439... 42 Cash Receipts and Disbursements Analysis - Fund 440... 43 Cash Receipts and Disbursements Analysis - Fund 441.... 44 Cash Receipts and Disbursements Analysis - Fund 445.. 45 Cash Receipts and Disbursements Analysis - Fund 448.. 46 Analysis of Detailed Projects... 47-50

FINANCIAL SECTION Combined Financial Statements Debt Service Coverage

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

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

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

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

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 431 438 439 440 441 445 448 TOTAL CURRENT ASSETS Cash & Equity in Pooled Cash 13,507,537 0 0 14,974,461 0 0 10,190,872 38,672,870 Accounts Receivable (Less Doubtful Accts.) 8,390,390 0 9,249,166 0 0 0 0 17,639,557 Accounts Receivable - Other 2,463 0 233,302 0 0 0 0 235,765 Due From Other Govt. Units 0 0 0 0 0 0 0 0 Due From Other Funds 0 0 0 0 0 0 0 0 Inventories 964,841 0 165,495 0 0 0 0 1,130,336 Prepaid Expenses 4,276,277 0 76,204 0 0 0 0 4,352,481 TOTAL 27,141,508 0 9,724,167 14,974,461 0 0 10,190,872 62,031,009 RESTRICTED ASSETS Cash & Equity in Pooled Cash 17,665,705 930,996 8,263,653 0 14,693,543 223,975 0 41,777,871 Accounts Receivable - Other 0 0 0 0 0 0 0 0 Due From Other Gov. Units 0 0 0 0 0 0 0 0 Due From Other Funds 0 0 0 0 0 0 0 0 TOTAL 17,665,705 930,996 8,263,653 0 14,693,543 223,975 0 41,777,871 NON CURRENT ASSETS Accounts Receivable 0 0 0 142,236 0 0 0 142,236 TOTAL 0 0 0 142,236 0 0 0 142,236 CAPITAL ASSETS Intangible Assets 886,615 0 0 0 0 0 0 886,615 Land 32,726,391 0 5,018,933 0 0 0 0 37,745,325 Buildings 723,854 0 1,469 0 0 0 0 725,322 Traffic Control Devices 297,215 0 0 0 0 0 0 297,215 Machinery & Equipment 22,401,619 0 1,628,769 0 0 0 0 24,030,388 Plant 324,329,538 0 185,387 0 0 0 0 324,514,925 Distribution/Collection 515,195,064 0 98,027,788 0 0 0 0 613,222,852 Construction in Progress 277,903 3,307,083 2,195,679 0 1,249,998 1,482,906 145,930 8,659,499 TOTAL 896,838,200 3,307,083 107,058,025 0 1,249,998 1,482,906 145,930 1,010,082,142 LESS ACCUM DEPR/AMORT 372,942,412 0 52,980,313 0 0 0 0 425,922,725 TOTAL 523,895,788 3,307,083 54,077,713 0 1,249,998 1,482,906 145,930 584,159,417 DEFERRED OUTFLOWS Defeasance 13,999,282 0 0 0 0 0 0 13,999,282 Other Post Employment Benefits 1,675,808 0 113,663 0 0 0 0 1,789,471 TOTAL 15,675,090 0 113,663 0 0 0 0 15,788,753 GRAND TOTAL 584,378,090 4,238,079 72,179,196 15,116,697 15,943,541 1,706,881 10,336,801 703,899,286 3

OPERATIONS RENEWAL INSTALL CONTING. CONN/LINE 2,006 UTILITY & MAINT. & REPL. FEES FUND FEES PROJ FUND CIP FUND DESCRIPTION 431 438 439 440 441 445 448 TOTAL CURRENT LIABILITIES Accounts Payable 532,211 0 0 0 0 0 73,169 605,380 Retainage 0 0 0 0 0 0 0 0 Due to Other Funds 0 0 0 0 0 0 0 0 Due to Other - Govt. Units 0 0 0 0 0 0 0 0 Unearned Revenue 0 0 1,700,000 884,211 0 0 0 2,584,211 State/Federal Taxes 0 0 0 0 0 0 0 0 Accrued Salaries & Wages 543,603 0 0 0 0 0 0 543,603 Accrued Vacation & Medical Benefits 229,637 0 4,216 0 0 0 0 233,854 Current Portion Long Term Debt 10,665,000 0 0 0 0 0 0 10,665,000 TOTAL 11,970,452 0 1,704,216 884,211 0 0 73,169 14,632,048 RESTRICTED LIABILITIES Accounts Payable 1,336,199 94,289 38,460 0 0 0 0 1,468,948 Retainage 0 209 0 0 0 0 0 209 Arbitrage Payable 0 0 0 0 0 0 0 0 Customer Deposits 4,951,243 0 0 0 0 0 0 4,951,243 Deposits - Other (545) 0 0 0 0 0 0 (545) Due to Other Funds 0 0 0 0 0 0 0 0 Due to Other - Govt. Units 0 0 0 0 0 0 0 0 TOTAL 6,286,897 94,498 38,460 0 0 0 0 6,419,855 LONG-TERM DEBT Rev Bonds Payable Series 2007 78,970,000 0 0 0 0 0 0 78,970,000 Series 2009 9,140,000 0 0 0 0 0 0 9,140,000 Series 2012 18,985,000 0 0 0 0 0 0 18,985,000 Series 2014 29,585,000 0 0 0 0 0 0 29,585,000 Series 2016 206,515,000 0 0 0 0 0 0 206,515,000 Unamortized Premiums/Discounts 32,022,922 0 0 0 0 0 0 32,022,922 Other Post Employment Benefits 6,900,604 0 497,044 0 0 0 0 7,397,648 Accrued Vacation & Medical Benefits 2,321,891 0 42,629 0 0 0 0 2,364,520 TOTAL 384,440,417 0 539,673 0 0 0 0 384,980,090 NET POSITION Net Position 181,680,324 4,143,581 69,896,847 14,232,486 15,943,541 1,706,881 10,263,632 297,867,293 TOTAL 181,680,324 4,143,581 69,896,847 14,232,486 15,943,541 1,706,881 10,263,632 297,867,293 GRAND TOTAL 584,378,090 4,238,079 72,179,196 15,116,697 15,943,541 1,706,881 10,336,801 703,899,286 4

Profit and Loss Statement - Operating Fund GAAP Basis

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 51,766 225,553 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 701,033 536,545 1,237,578 Payroll Taxes 123,650 92,292 215,942 Electricity 1,097,845 449,678 1,547,524 Chemicals 585,746 307,459 893,205 Maintenance 287,547 132,223 419,770 Materials & Supplies 186,135 104,479 290,614 Professional Services 73,559 70,008 143,567 Transportation 66 775 840 Insurance 100,204 75,565 175,769 Rentals/Leases 2,898 1,175 4,074 Bad Debt 75,000 75,000 150,000 Other Expenses 370,088 595,122 965,209 Franchise 75,000 75,000 150,000 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 66,978 133,956 Guaranteed Revenue 39,434 94,596 134,029 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 411,904 411,904 823,807 Capital Contribution 0 0 0 Transfer In 637,668 637,668 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

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

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 5,204,971 320,722 31,080,924 62,459,647 49.76% Systems Installation Fee 76,200 13,417 62,783 225,553 161,000 140.09% Miscellaneous 434,647 255,973 178,675 2,736,774 4,939,680 55.40% 6% Surcharge 374,737 348,837 25,900 2,104,349 4,186,047 50.27% Cash Balance Forward 0 1,382,095 (1,382,095) 0 16,585,142 0.00% TOTAL OPERATING REVENUES 6,411,276 7,205,292 (794,016) 36,147,600 88,331,516 40.92% Salaries 1,083,211 1,087,447 (4,236) 6,547,658 13,049,358 50.18% Employee Benefits 444,197 554,591 (110,394) 2,704,933 6,655,090 40.64% Payroll Taxes 78,331 83,132 (4,802) 472,325 997,587 47.35% Electricity 289,185 322,640 (33,455) 1,698,750 3,871,684 43.88% Chemicals 161,943 151,853 10,090 893,205 1,822,235 49.02% Maintenance 140,506 135,917 4,589 817,727 1,631,008 50.14% Materials & Supplies 129,321 109,606 19,715 516,686 1,315,271 39.28% Professional Services 31,448 61,692 (30,244) 211,762 740,299 28.60% Transportation 32,748 38,317 (5,568) 168,143 459,800 36.57% Insurance 40,439 40,138 301 246,941 481,661 51.27% Rentals/Leases 16,849 16,587 262 91,848 199,040 46.15% Bad Debt 25,000 25,000 0 150,000 300,000 50.00% Other Expenses 358,139 250,481 107,657 1,526,249 3,005,777 50.78% Franchise 25,000 25,000 0 150,000 300,000 50.00% Administrative Expenses 292,683 292,684 (1) 1,756,098 3,512,210 50.00% Contingency 0 788,437 (788,437) 0 9,461,243 0.00% TOTAL OPERATING EXPENSES 3,148,999 3,983,522 (834,523) 17,952,325 47,802,262 37.56% NET OPERATING REVENUE BEFORE DEPRECIATION 3,262,278 3,221,771 40,507 18,195,275 40,529,254 44.89% DEPRECIATION 2,300,000 0 2,300,000 13,800,000 0 0.00% NET OPERATING REV./(LOSS) 962,278 3,221,771 (2,259,493) 4,395,275 40,529,254 10.84% NON-OPERATING REVENUE AND (EXPENSES) Interest Income 22,168 13,525 8,643 133,956 162,300 82.54% Guaranteed Revenue 122,263 10,833 111,429 134,029 130,000 103.10% FEMA - Hurricane Matthew 5,166 0 5,166 5,166 0 0.00% Interest Expense (1,336,199) (1,336,200) 0 (8,017,197) (16,034,394) 50.00% Amortization of Bond Discount & Expense 0 0 0 823,807 0 0.00% Capital Contribution 0 0 0 0 0 0.00% Transfer from Other Funds 212,479 229,239 (16,760) 1,275,335 2,750,868 46.36% Transfer to Other Funds (500,787) 842,454 (1,343,242) (3,004,725) 10,109,453-29.72% TOTAL (1,474,912) (240,148) (1,234,764) (8,649,627) (2,881,773) 300.15% NET REVENUE/(LOSS) (512,634) 2,981,623 (3,494,257) (4,254,352) 37,647,481-11.30% 6

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

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 5,390,212 135,480 31,080,924 30,618,260 462,664 Systems Installation Fee 76,200 25,574 50,626 225,553 89,166 136,387 Miscellaneous 434,647 412,362 22,286 2,736,774 2,534,573 202,201 6% Surcharge 374,737 363,558 11,179 2,104,349 2,052,033 52,316 Interest Income 22,168 26,445 (4,277) 133,956 118,558 15,398 Guaranteed Revenue 122,263 1,558 120,705 134,029 57,600 76,429 TOTAL OPERATING REVENUE 6,555,707 6,219,708 335,999 36,415,585 35,470,190 945,395 FEMA Reimbursement 5,166 0 5,166 0 0 0 Cash Balance Forward 0 0 0 0 0 0 NON OPERATING REVENUE 5,166 0 5,166 0 0 0 TOTAL REVENUES 6,560,873 6,219,708 341,165 36,415,585 35,470,190 945,395 Salaries 1,083,211 964,622 118,588 6,547,658 6,015,267 532,391 Employee Benefits 444,197 437,551 6,646 2,704,933 2,354,601 350,332 Payroll Taxes 78,331 69,104 9,227 472,325 440,235 32,090 Electricity 289,185 281,596 7,590 1,698,750 1,613,999 84,751 Chemicals 161,943 165,443 (3,501) 893,205 715,352 177,853 Maintenance 140,506 65,567 74,939 817,727 635,233 182,494 Materials & Supplies 129,321 90,630 38,690 516,686 538,609 (21,923) Professional Services 31,448 110,136 (78,688) 211,762 94,111 117,651 Transportation 32,748 23,777 8,971 168,143 197,612 (29,469) Insurance 40,439 44,746 (4,307) 246,941 222,230 24,711 Rentals/Leases 16,849 14,377 2,472 91,848 97,546 (5,698) Bad Debt 25,000 25,000 0 150,000 150,000 0 Other Expenses 358,139 256,485 101,654 1,526,249 1,069,817 456,432 Administrative Expenses 292,683 292,683 0 1,756,098 1,499,052 257,046 Franchise 25,000 25,000 0 150,000 150,000 0 Principal - Bonds 0 0 0 0 5,767,879 (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 4,202,916 282,282 25,969,521 29,845,815 (3,876,294) Capital Expenditures 256,934 74,346 182,588 457,516 104,136 353,380 Capital Contribution 0 0 0 0 0 0 Transfers In (212,479) (212,510) 31 (1,275,335) (1,277,552) 2,217 Transfer Out 500,787 500,787 (0) 3,004,725 2,885,460 119,265 TOTAL NON OPERATING EXPENSES 545,243 362,624 182,619 2,186,905 1,712,044 474,861 TOTAL EXPENSES 5,030,441 4,565,540 464,901 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

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

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 5,204,971 320,722 31,080,924 62,459,647 49.76% Systems Installation Fee 76,200 13,417 62,783 225,553 161,000 140.09% Miscellaneous 434,647 255,973 178,675 2,736,774 4,939,680 55.40% 6% Surcharge 374,737 348,837 25,900 2,104,349 4,186,047 50.27% Interest Income 22,168 13,525 8,643 133,956 162,300 82.54% Guaranteed Revenue 122,263 10,833 111,429 134,029 130,000 103.10% FEMA - Hurricane Matthew 5,166 0 5,166 5,166 0 0.00% Capital Contribution 0 0 0 0 0 0.00% Transfers In 212,479 229,239 (16,760) 1,275,335 2,750,868 46.36% Cash Balance Forward 0 1,382,095 (1,382,095) 0 16,585,142 0.00% TOTAL OPERATING REVENUES 6,773,351 7,458,890 (685,538) 37,696,086 91,374,684 41.25% Salaries 1,083,211 1,087,447 (4,236) 6,547,658 13,049,358 50.18% Employee Benefits 444,197 554,591 (110,394) 2,704,933 6,655,090 40.64% Payroll Taxes 78,331 83,132 (4,802) 472,325 997,587 47.35% Electricity 289,185 322,640 (33,455) 1,698,750 3,871,684 43.88% Chemicals 161,943 151,853 10,090 893,205 1,822,235 49.02% Maintenance 140,506 135,917 4,589 817,727 1,631,008 50.14% Materials & Supplies 129,321 109,606 19,715 516,686 1,315,271 39.28% Professional Services 31,448 61,692 (30,244) 211,762 740,299 28.60% Transportation 32,748 38,317 (5,568) 168,143 459,800 36.57% Insurance 40,439 40,138 301 246,941 481,661 51.27% Rentals/Leases 16,849 16,587 262 91,848 199,040 46.15% Bad Debt 25,000 25,000 0 150,000 300,000 50.00% Other Expenses 358,139 250,481 107,657 1,526,249 3,005,777 50.78% Administrative Expenses 292,683 292,684 (1) 1,756,098 3,512,210 50.00% Franchise 25,000 25,000 0 150,000 300,000 50.00% Principal - Bond 0 888,750 (888,750) 0 10,665,000 0.00% Interest Expense 1,336,199 1,336,200 (0) 8,017,197 16,034,394 50.00% Capital Expenditures 256,934 563,631 (306,697) 457,516 6,763,575 6.76% Transfer Out 500,787 842,454 (341,667) 3,004,725 10,109,453 29.72% Contingency 0 788,437 (788,437) 0 9,461,243 0.00% TOTAL OPERATING EXPENSES 5,242,920 7,614,557 (2,371,637) 29,431,762 91,374,684 32.21% NET REVENUE/(LOSS) 1,530,432 (155,667) 1,686,099 8,264,324 (0) 0.00% 8

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

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 91,116,516 43.01% Misc. Revenues 0 7,917 (7,917) 111,124 95,000 116.97% TOTAL OPERATING REVENUES 6,883,746 7,600,960 (717,214) 39,304,727 91,211,516 43.09% OPERATING EXPENSE: 3,148,999 3,983,522 (834,523) 17,952,325 47,802,262 37.56% NET OPERATING REVENUES 3,734,748 3,617,438 117,310 21,352,402 43,409,254 49.19% OTHER REVENUES: Interest Income 76,044 40,608 35,436 430,005 487,300 88.24% Guaranteed Revenues 122,263 10,833 111,429 134,029 130,000 103.10% TOTAL OTHER REVENUES 198,307 51,442 146,865 564,035 617,300 91.37% TOTAL NET REVENUE AVAILABLE 3,933,054 3,668,879 264,175 21,916,437 44,026,554 49.78% Part A NET OPERATING REVENUE 3,933,054 3,668,879 264,175 21,916,437 44,026,554 49.78% DEBT SERVICE 2,224,949 2,224,950 (0) 13,349,697 26,699,394 50.00% Projected 177% 165% 164% 165% Minimum 100% 100% 100% 100% Part B NET OPERATING REVENUE 3,933,054 3,668,879 264,175 21,916,437 44,026,554 49.78% CURRENT SUBACCOUNTS (2) 1,224,462 612,231 612,231 7,346,771 7,346,771 100.00% TOTAL 5,157,516 4,281,110 876,406 29,263,208 51,373,325 56.96% DEBT SERVICE 2,224,949 2,224,950 (0) 13,349,697 26,699,394 50.00% Projected 232% 192% 219% 192% Minimum 110% 110% 110% 110% (1) Format based on Official Statement - Utilities System Revenue Bonds - Series 2016. 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 2016. 9

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

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 2,441,852 167,608 14,454,422 29,302,221 49.33% Installation Fees 69,824 9,583 60,241 173,787 115,000 151.12% Miscellaneous Revenue 43,803 55,417 (11,614) 337,891 665,000 50.81% TOTAL OPERATING REVENUES 2,723,087 2,506,852 216,235 14,966,100 30,082,221 49.75% Salaries 277,812 255,991 21,821 1,689,421 3,071,893 55.00% Employee Benefits 118,995 135,717 (16,721) 701,033 1,628,599 43.05% Payroll Taxes 20,177 19,583 593 123,650 235,000 52.62% Electricity 187,182 214,674 (27,492) 1,097,845 2,576,091 42.62% Chemicals 112,776 104,719 8,057 585,746 1,256,622 46.61% Maintenance 51,261 35,670 15,591 287,547 428,037 67.18% Materials & Supplies 54,800 35,083 19,717 186,135 421,000 44.21% Professional Services 7,045 33,137 (26,092) 73,559 397,649 18.50% Transportation 5 150 (145) 66 1,800 3.65% Insurance 16,252 16,102 150 100,204 193,219 51.86% Rentals/Leases 1,523 1,169 355 2,898 14,025 20.67% Bad Debt 0 0 0 0 0 0.00% Other Expenses 137,054 56,384 80,670 370,088 676,602 54.70% TOTAL OPERATING EXPENSES 984,882 908,378 76,504 5,218,191 10,900,537 47.87% NET OPERATING REVENUE BEFORE DEPRECIATION 1,738,204 1,598,474 139,731 9,747,909 19,181,684 50.82% DEPRECIATION 1,150,000 0 1,150,000 6,900,000 0 0.00% NET OPERATING REVENUE/(LOSS) 588,204 1,598,474 (1,010,269) 2,847,909 19,181,684 14.85% 10

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 104,251 103,072 1,179 638,166 1,236,858 51.60% Employee Benefits 39,847 48,315 (8,468) 240,495 579,781 41.48% Payroll Taxes 7,760 7,885 (125) 47,558 94,620 50.26% Electricity 186,756 214,008 (27,252) 1,095,180 2,568,091 42.65% Chemicals 112,776 104,702 8,074 585,746 1,256,422 46.62% Maintenance 28,271 22,726 5,545 214,922 272,711 78.81% Materials & Supplies 14,612 15,410 (799) 52,129 184,925 28.19% Professional Services 7,045 16,283 (9,238) 43,440 195,399 22.23% Transportation 5 58 (54) 51 700 7.32% Insurance 12,890 12,740 150 80,032 152,877 52.35% Rentals/Leases 0 531 (531) 0 6,375 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses 28,069 24,034 4,035 138,195 288,407 47.92% TOTAL OPERATING EXPENSES 542,280 569,764 (27,484) 3,135,914 6,837,166 45.87% 11

CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 PRINEVILLE WATER TREATMENT PLANT - 3310 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 60,572 63,155 (2,583) 361,190 757,855 47.66% Employee Benefits 24,012 31,224 (7,212) 145,138 374,685 38.74% Payroll Taxes 4,524 4,831 (307) 26,740 57,976 46.12% Electricity 88,227 106,274 (18,047) 488,373 1,275,291 38.30% Chemicals 59,943 59,468 476 312,806 713,612 43.83% Maintenance 7,275 12,516 (5,241) 129,721 150,187 86.37% Materials & Supplies 8,572 7,176 1,396 29,514 86,110 34.28% Professional Services 2,403 2,500 (98) 27,984 30,000 93.28% Transportation 5 21 (16) 46 250 18.41% Insurance 6,325 6,250 75 39,296 74,998 52.40% Rentals/Leases 0 506 (506) 0 6,075 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses (1) 17,313 16,933 379 95,849 203,201 47.17% TOTAL OPERATING EXPENSES 279,169 310,853 (31,685) 1,656,657 3,730,240 44.41% (1) Sludge Hauling - Year to Date 36,353 JAMES E ANDERSON WATER TREATMENT PLANT - 3312 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 43,679 39,917 3,762 276,976 479,003 57.82% Employee Benefits 15,835 17,091 (1,256) 95,356 205,096 46.49% Payroll Taxes 3,236 3,054 182 20,818 36,644 56.81% Electricity 98,529 107,733 (9,205) 606,807 1,292,800 46.94% Chemicals 52,833 45,234 7,598 272,940 542,810 50.28% Maintenance 20,996 10,210 10,786 85,202 122,524 69.54% Materials & Supplies 6,040 8,235 (2,194) 22,615 98,815 22.89% Professional Services 4,643 13,783 (9,141) 15,456 165,399 9.34% Transportation 0 38 (38) 5 450 1.16% Insurance 6,565 6,490 75 40,736 77,879 52.31% Rentals/Leases 0 25 (25) 0 300 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses 10,756 7,101 3,655 42,346 85,206 49.70% TOTAL OPERATING EXPENSES 263,111 258,911 4,201 1,479,256 3,106,926 47.61% 12

CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 WATER - CROSS CONNECTION - 3311 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 27,464 27,812 (349) 169,803 333,748 50.88% Employee Benefits 13,674 16,165 (2,491) 82,473 193,975 42.52% Payroll Taxes 1,866 2,128 (262) 12,072 25,531 47.28% Electricity 0 0 0 0 0 0.00% Chemicals 0 0 0 0 0 0.00% Maintenance 4,949 1,818 3,130 12,542 21,817 57.49% Materials & Supplies 4,780 4,385 395 23,056 52,625 43.81% Professional Services 0 0 0 0 0 0.00% Transportation 0 42 (42) 14 500 2.88% Insurance 496 496 (0) 2,976 5,953 49.99% Rentals/Leases 0 0 0 0 0 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses 638 1,323 (684) 2,775 15,875 17.48% TOTAL OPERATING EXPENSES 53,867 54,169 (301) 305,711 650,024 47.03% WATER DISTRIBUTION - PREVENTATIVE MAINTENANCE - 3316 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 106,835 94,871 11,964 617,620 1,138,448 54.25% Employee Benefits 47,407 52,305 (4,898) 259,104 627,660 41.28% Payroll Taxes 7,679 7,258 421 45,150 87,092 51.84% Electricity 0 42 (42) 0 500 0.00% Chemicals 0 8 (8) 0 100 0.00% Maintenance 15,112 7,688 7,424 47,139 92,256 51.10% Materials & Supplies 9,176 6,467 2,710 46,658 77,600 60.13% Professional Services 0 167 (167) 1,750 2,000 87.50% Transportation 0 8 (8) 0 100 0.00% Insurance 1,767 1,767 0 10,602 21,200 50.01% Rentals/Leases 0 13 (13) 0 150 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses 5,178 7,835 (2,657) 39,381 94,020 41.89% TOTAL OPERATING EXPENSES 193,155 178,427 14,728 1,067,404 2,141,126 49.85% 13

CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 MCCARTY RANCH - 3314 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 0 0 0 0 0 0.00% Employee Benefits 0 0 0 0 0 0.00% Payroll Taxes 0 0 0 0 0 0.00% Electricity 327 500 (174) 1,932 6,000 32.20% Chemicals 0 0 0 0 0 0.00% Maintenance 382 1,404 (1,022) 1,273 16,849 7.56% Materials & Supplies 0 333 (333) 0 4,000 0.00% Professional Services 0 16,667 (16,667) 28,369 200,000 14.18% Transportation 0 0 0 0 0 0.00% Insurance 411 411 0 2,466 4,928 50.04% Rentals/Leases 0 0 0 0 0 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses 102,371 22,113 80,259 186,317 265,350 70.22% TOTAL OPERATING EXPENSES 103,491 41,427 62,063 220,357 497,127 44.33% WATER MAINTENANCE - 3360 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 39,263 30,237 9,027 263,833 362,839 72.71% Employee Benefits 18,068 18,932 (864) 118,961 227,183 52.36% Payroll Taxes 2,871 2,313 558 18,870 27,757 67.98% Electricity 100 125 (25) 734 1,500 48.90% Chemicals 0 8 (8) 0 100 0.00% Maintenance 2,548 2,034 514 11,670 24,404 47.82% Materials & Supplies 26,232 8,488 17,744 64,292 101,850 63.12% Professional Services 0 21 (21) 0 250 0.00% Transportation 0 42 (42) 0 500 0.00% Insurance 688 688 (0) 4,128 8,261 49.97% Rentals/Leases 1,523 625 898 2,898 7,500 38.65% Bad Debt 0 0 0 0 0 0.00% Other Expenses 797 1,079 (282) 3,421 12,950 26.41% TOTAL OPERATING EXPENSES 92,089 64,591 27,498 488,806 775,094 63.06% 14

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 294.71 1,469.73 Raw Water Treated - James E Anderson 287.27 1,503.61 Less: Customers Usage 461.28 2,445.30 Other Demand 46.64 213.01 Treated Water - Unaccounted For 74.06 315.03 PERCENTAGE 12.73% 10.60% Average Daily Treated 18.77 MGD Highest Daily Treated 21.12 MGD Utilization 48.20% NUMBER OF CUSTOMERS BILLED 71,507 15

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

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 2,763,119 153,113 16,626,502 33,157,426 50.14% Step and Grinder System Installation 6,376 3,833 2,542 51,766 46,000 112.53% Miscellaneous Revenue 0 833 (833) 2,210 10,000 22.10% TOTAL OPERATING REVENUES 2,922,608 2,767,786 154,822 16,680,478 33,213,426 50.22% Salaries 189,800 212,324 (22,523) 1,270,383 2,547,882 49.86% Employee Benefits 84,068 104,911 (20,844) 536,545 1,258,934 42.62% Payroll Taxes 13,424 16,243 (2,818) 92,292 194,913 47.35% Electricity 74,955 79,460 (4,506) 449,678 953,523 47.16% Chemicals 49,167 47,034 2,133 307,459 564,413 54.47% Maintenance 28,676 22,302 6,373 132,223 267,626 49.41% Materials & Supplies 23,419 25,871 (2,452) 104,479 310,448 33.65% Professional Services 9,575 1,808 7,767 70,008 21,700 322.62% Transportation 0 142 (142) 775 1,700 45.57% Insurance 12,325 12,176 149 75,565 146,108 51.72% Rentals/Leases 0 742 (742) 1,175 8,900 13.21% Bad Debt 0 0 0 0 0 0.00% Other Expenses 108,158 100,626 7,531 595,122 1,207,518 49.28% TOTAL OPERATING EXPENSES 593,566 623,639 (30,072) 3,635,705 7,483,664 48.58% NET OPERATING REVENUE BEFORE DEPRECIATION 2,329,042 2,144,147 184,895 13,044,773 25,729,762 50.70% DEPRECIATION 1,150,000 0 1,150,000 6,900,000 0 0.00% NET OPERATING REVENUE/(LOSS) 1,179,042 2,144,147 (965,105) 6,144,773 25,729,762 23.88% 16

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 1,143,852 49.18% Employee Benefits 36,529 47,986 (11,457) 226,888 575,837 39.40% Payroll Taxes 6,205 7,292 (1,087) 40,958 87,505 46.81% Electricity 74,649 79,127 (4,478) 447,770 949,523 47.16% Chemicals 49,167 47,026 2,141 307,459 564,313 54.48% Maintenance 7,444 6,956 489 55,778 83,469 66.82% Materials & Supplies 6,607 10,154 (3,547) 25,776 121,848 21.15% Professional Services 9,575 1,725 7,850 70,008 20,700 338.20% Transportation 0 42 (42) 0 500 0.00% Insurance 9,982 9,833 149 61,507 117,991 52.13% Rentals/Leases 0 500 (500) 0 6,000 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses 97,762 93,087 4,674 538,996 1,117,048 48.25% TOTAL OPERATING EXPENSES 384,024 399,049 (15,025) 2,337,637 4,788,585 48.82% 17

CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 WESTPORT WASTEWATER TREATMENT PLANT - 3512 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 37,973 44,120 (6,147) 236,768 529,437 44.72% Employee Benefits 16,051 21,015 (4,963) 97,313 252,175 38.59% Payroll Taxes 2,776 3,375 (599) 17,234 40,502 42.55% Electricity 36,028 38,776 (2,748) 208,956 465,317 44.91% Chemicals 26,042 21,875 4,167 135,093 262,501 51.46% Maintenance 5,965 2,617 3,347 18,602 31,407 59.23% Materials & Supplies 992 4,597 (3,605) 12,913 55,158 23.41% Professional Services 4,643 833 3,809 32,955 10,000 329.55% Transportation 0 21 (21) 0 250 0.00% Insurance 4,052 3,977 75 25,389 47,729 53.19% Rentals/Leases 0 417 (417) 0 5,000 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses (1) 50,954 36,851 14,103 223,701 442,211 50.59% TOTAL OPERATING EXPENSES 185,475 178,474 7,001 1,008,924 2,141,687 47.11% (1) Sludge Hauling - Year to Date 173,534 GLADES WASTEWATER TREATMENT PLANT - 3513 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 48,131 51,201 (3,070) 325,730 614,415 53.01% Employee Benefits 20,478 26,972 (6,494) 129,575 323,662 40.03% Payroll Taxes 3,429 3,917 (488) 23,724 47,003 50.47% Electricity 38,620 40,351 (1,730) 238,814 484,206 49.32% Chemicals 23,125 25,151 (2,026) 172,366 301,812 57.11% Maintenance 1,480 4,339 (2,859) 37,176 52,062 71.41% Materials & Supplies 5,616 5,558 58 12,863 66,690 19.29% Professional Services 4,933 892 4,041 37,053 10,700 346.29% Transportation 0 21 (21) 0 250 0.00% Insurance 5,930 5,855 75 36,118 70,262 51.41% Rentals/Leases 0 83 (83) 0 1,000 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses (1) 46,808 56,236 (9,429) 315,295 674,837 46.72% TOTAL OPERATING EXPENSES 198,549 220,575 (22,026) 1,328,713 2,646,898 50.20% (1) Sludge Hauling - Year to Date 194,374 18

CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 WASTEWATER - PREVENTATIVE MAINTENANCE OPERATIONS - 3516 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 1,147,969 48.89% Employee Benefits 34,597 44,425 (9,828) 239,430 533,099 44.91% Payroll Taxes 5,426 7,318 (1,892) 40,748 87,819 46.40% Electricity 0 42 (42) 0 500 0.00% Chemicals 0 0 0 0 0 0.00% Maintenance 17,043 13,431 3,612 65,071 161,172 40.37% Materials & Supplies 11,838 11,608 229 53,207 139,300 38.20% Professional Services 0 83 (83) 0 1,000 0.00% Transportation 0 42 (42) 175 500 34.95% Insurance 1,834 1,834 0 11,004 22,007 50.00% Rentals/Leases 0 17 (17) 0 200 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses 9,762 6,778 2,985 53,074 81,330 65.26% TOTAL OPERATING EXPENSES 159,275 181,241 (21,966) 1,024,001 2,174,896 47.08% WASTEWATER MAINTENANCE - 3560 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 24,923 21,338 3,584 146,593 256,061 57.25% Employee Benefits 12,941 12,500 442 70,227 149,998 46.82% Payroll Taxes 1,793 1,632 160 10,587 19,589 54.05% Electricity 306 292 14 1,908 3,500 54.52% Chemicals 0 8 (8) 0 100 0.00% Maintenance 4,188 1,915 2,272 11,374 22,985 49.49% Materials & Supplies 4,974 4,108 865 25,496 49,300 51.72% Professional Services 0 0 0 0 0 0.00% Transportation 0 58 (58) 600 700 85.71% Insurance 509 509 (0) 3,054 6,110 49.98% Rentals/Leases 0 225 (225) 1,175 2,700 43.54% Bad Debt 0 0 0 0 0 0.00% Other Expenses 634 762 (128) 3,052 9,140 33.39% TOTAL OPERATING EXPENSES 50,267 43,349 6,919 274,067 520,183 52.69% 19

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 277.396 1545.311 TOTAL REVENUE GALLONS 277.396 1545.311 NUMBER OF CUSTOMERS BILLED 52,954 CONNECTIONS GLADES WESTPORT TOTAL 21,849 35,096 56,945 MAXIMUM DAILY FLOW Millions of Gallons Daily 10.154 AVERAGE DAILY FLOW Millions of Gallons Daily 8.773 PERMITTED CAPACITY Millions of Gallons Daily 18.00 UTILIZATION 52.90% Total Committed Capacity/Permitted Capacity FLOWS BY PLANT PER MONTH GLADES WESTPORT TOTAL Total Flow 151.079 120.862 271.941 Reuse Flow 109.880 78.301 188.181 Maximum Flow 5.850 4.304 10.154 Minimum Flow 4.386 3.691 8.077 Average Flow 4.874 3.899 8.773 20

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

CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 ADMINISTRATIVE - 1340 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 67,806 79,097 (11,291) 417,786 949,166 44.02% Employee Benefits 22,043 28,160 (6,117) 131,945 337,923 39.05% Payroll Taxes 5,102 6,051 (949) 27,220 72,611 37.49% Electricity 708 833 (125) 4,250 10,000 42.50% Chemicals 0 0 0 0 0 0.00% Maintenance 430 900 (471) 26,375 10,805 244.10% Materials & Supplies (169) 2,267 (2,436) 4,962 27,200 18.24% Professional Services 14,828 22,496 (7,668) 35,578 269,950 13.18% Transportation 0 33 (33) 0 400 0.00% Insurance 3,695 3,695 0 22,170 44,338 50.00% Rentals/Leases 519 58 460 519 700 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses 7,246 16,685 (9,439) 68,648 200,216 34.29% Administrative Expenses 292,683 292,684 (1) 1,756,098 3,512,210 50.00% TOTAL OPERATING EXPENSES 414,890 452,960 (38,070) 2,495,550 5,435,519 45.91% 21

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) 390,845 199,723 191,122 2,396,673 4,264,680 56.20% 6% Surcharge 374,737 348,837 25,900 2,104,349 4,186,047 50.27% TOTAL OPERATING REVENUES 765,582 548,560 217,022 4,501,022 8,450,727 53.26% Salaries 139,138 207,266 (68,128) 889,373 2,487,191 35.76% Employee Benefits 59,076 107,805 (48,729) 367,481 1,293,658 28.41% Payroll Taxes 9,985 15,856 (5,871) 63,637 190,270 33.45% Electricity 92 389 (297) 534 4,670 11.42% Chemicals 0 0 0 0 0 0.00% Maintenance 3,675 36,774 (33,100) 119,426 441,293 27.06% Materials & Supplies 3,324 8,804 (5,480) 20,283 105,650 19.20% Professional Services 0 0 0 512 0 0.00% Transportation 32,582 37,679 (5,098) 166,793 452,150 36.89% Insurance 2,152 2,643 (491) 12,912 31,716 40.71% Rentals/Leases 6,688 12,705 (6,017) 40,756 152,455 26.73% Bad Debt 25,000 25,000 0 150,000 300,000 50.00% Other Expenses 70,323 50,002 20,321 371,617 600,027 61.93% TOTAL OPERATING EXPENSES 352,034 504,923 (152,890) 2,203,324 6,059,080 36.36% NET REVENUE/(LOSS) 413,548 43,637 369,911 2,297,698 2,391,647 96.07% Month Year to date (1) Customer Billing Charge $226,594 $1,349,337 22

CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 CUSTOMER SERVICE - 1346 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 109,447 108,863 584 641,399 1,306,361 49.10% Employee Benefits 44,162 60,368 (16,206) 260,489 724,421 35.96% Payroll Taxes 7,868 8,328 (460) 45,829 99,936 45.86% Electricity/Cable TV 0 4 (4) 0 50 0.00% Chemicals 0 0 0 0 0.00% Maintenance 135 3,060 (2,926) 495 36,724 1.35% Materials & Supplies 802 2,771 (1,969) 8,035 33,250 24.17% Professional Services 0 0 0 512 0 0.00% Transportation 0 0 0 0 0 0.00% Insurance 1,209 1,209 (0) 7,254 14,511 49.99% Rentals/Leases 6,688 6,688 0 40,128 80,255 0.00% Bad Debt 25,000 25,000 0 150,000 300,000 50.00% Other Expenses 61,160 36,711 24,448 333,391 440,537 75.68% TOTAL OPERATING EXPENSES 256,471 253,004 3,467 1,487,532 3,036,045 49.00% BILLING - 1347 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 20,093 34,668 (14,575) 155,534 416,011 37.39% Employee Benefits 10,767 19,404 (8,638) 77,449 232,853 33.26% Payroll Taxes 1,402 2,652 (1,250) 10,906 31,825 34.27% Electricity 0 0 0 0 0 0.00% Chemicals 0 0 0 0 0 0.00% Maintenance 399 29,717 (29,318) 108,369 356,600 30.39% Materials & Supplies 620 1,142 (522) 1,698 13,700 12.39% Professional Services 0 0 0 0 0 0.00% Transportation 32,582 37,625 (5,043) 166,793 451,500 36.94% Insurance 254 254 0 1,524 3,044 50.07% Rentals/Leases 0 100 (100) 628 1,200 52.33% Bad Debt 0 0 0 0 0 0.00% Other Expenses 8,638 10,250 (1,612) 35,809 123,000 29.11% TOTAL OPERATING EXPENSES 74,755 135,811 (61,056) 558,710 1,629,733 34.28% 23

CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 METER READING - 1348 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 9,598 18,076 (8,478) 92,439 216,914 42.62% Employee Benefits 4,147 8,638 (4,491) 29,543 103,657 28.50% Payroll Taxes 714 1,383 (668) 6,902 16,594 41.60% Electricity 92 42 50 534 500 106.70% Chemicals 0 0 0 0 0 0.00% Maintenance 3,141 2,686 454 10,562 32,237 32.76% Materials & Supplies 1,903 3,425 (1,523) 10,550 41,100 25.67% Professional Services 0 0 0 0 0 0.00% Transportation 0 13 (13) 0 150 0.00% Insurance 689 689 (0) 4,134 8,273 49.97% Rentals/Leases 0 0 0 0 0 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses 525 655 (130) 2,417 7,860 30.75% TOTAL OPERATING EXPENSES 20,808 35,607 (14,799) 157,081 427,285 36.76% 24

CITY OF PORT ST. LUCIE UTILITY SYSTEMS STATEMENT OF OPERATION - CITY APPROVED BUDGET SIXTH MONTH ENDING MARCH 31, 2018 UTILITY ENGINEERING - 1350 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 39,087 45,659 (6,571) 283,170 547,905 51.68% Employee Benefits 9,338 19,394 (10,056) 68,032 232,727 29.23% Payroll Taxes 3,003 3,493 (489) 21,615 41,915 51.57% Electricity 365 343 22 2,154 4,120 52.28% Chemicals 0 0 0 0 0 0.00% Maintenance 235 1,311 (1,076) 1,119 15,732 7.12% Materials & Supplies 674 1,467 (793) 4,571 17,600 25.97% Professional Services 0 0 0 0 0 0.00% Transportation 0 42 (42) 0 500 0.00% Insurance 491 491 0 2,946 5,888 50.03% Rentals/Leases 5,917 5,917 0 35,502 71,000 50.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses 1,409 2,386 (977) 10,365 28,630 36.20% TOTAL OPERATING EXPENSES 60,520 80,501 (19,982) 429,474 966,017 44.46% UTILITIES CIP - 1355 CURRENT MONTH YEAR-TO-DATE OPERATING FUND 431 ACTUAL BUDGET Over/(Under) ACTUAL BUDGET 50.00% Salaries 34,743 35,039 (296) 210,900 420,473 50.16% Employee Benefits 10,602 11,555 (953) 63,280 138,660 45.64% Payroll Taxes 2,529 2,681 (152) 15,107 32,166 46.96% Electricity 333 333 (0) 2,000 4,000 50.00% Chemicals 0 0 0 0 0 0.00% Maintenance 329 283 45 937 3,400 27.57% Materials & Supplies 348 2,017 (1,668) 5,655 24,200 23.37% Professional Services 0 2,417 (2,417) 20,153 29,000 69.49% Transportation 0 42 (42) 27 500 5.42% Insurance 391 390 1 2,346 4,677 50.16% Rentals/Leases 0 0 0 0 0 0.00% Bad Debt 0 0 0 0 0 0.00% Other Expenses 494 1,733 (1,240) 2,586 20,800 12.43% TOTAL OPERATING EXPENSES 49,768 56,490 (6,721) 322,991 677,876 47.65% RECAP - REVENUE YEAR TO DATE Certification, Copies, Etc. & Admin. $ 40 Application Fees 2,176 TOTAL $ 2,216 25