PORT OF PALM BEACH DISTRICT Management s Discussion and Analysis FY 2017 YTD August 2017

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1 PORT OF PALM BEACH DISTRICT Management s Discussion and Analysis FY Net Operating Revenue for the month of 2017 is $1,460,676 and is $15,965,353 which is favorable to the FY by $522,247 primarily due to increases in wharfage/cargo, TEU s, rail switching, additional space assignments for land, the early termination fee for the MOC 5 th floor lease, and reductions in the marketing support due to contractual rate levels. Net Operating Revenue is up approximately 3.3% over prior FY Wharfage revenue is favorable to the FY by $292,504 primarily due to increases in container tonnage (up 5.9%) and TEU s (up 7.2%) (primarily from Tropical Shipping), diesel (up 237.8%) and molasses (up 37.5%). On the negative side, FY sugar volumes are down 21.2%. Dockage revenue is unfavorable to the FY by only ($3,916), due to reduced vessel traffic (down 2.5%), primarily sugar barges. Rent is favorable to the FY by $128,649 primarily due to additional space assignments for land from several tenants. Rent is significantly lower than the prior year due to the loss of the MOB lease. Passengers-Multiday net revenue charges (passenger fees less marketing support) from the Grand Celebration multi-day cruise ship for are $2,523,383 from 422,356 passengers which resulted in a net favorable budget variance of $74,167 due to reductions in the marketing support contractual rate levels. However, passenger counts are down (5.7%) from budget, primarily due to Hurricane Matthew which struck in early October 2016 and caused a change in destination to Bimini, Bahamas due to the destruction of infrastructure (hotels, utilities, etc.) in Freeport, Bahamas, a scheduled dry dock in early January 2017, and a charter in early May 2017, which resulted in a total of ten missed sailings. The Grand Celebration did return to its port of call in Freeport after the dry dock. Parking revenue is unfavorable to the FY by ($188,518); total cruise passenger vehicles parked for are 54,731 which is unfavorable to the FY by (12,699) vehicles parked, or (18.8%). This is primarily as a result of the issues caused by Hurricane Matthew, the scheduled dry dock and the charter as mentioned in the above paragraph. This has not only resulted in fewer cars parked but also less extended parking days. The parking revenue is primarily from the Grand Celebration multi-day cruise passengers which are valet parking only. Operating Expenses before depreciation and amortization for 2017 is $703,545 and is $7,966,651 which is over budget for FY by $321,936 or 4.2%. The significant budgets over runs were Renewal and Replacement of $50,370 for Hurricane Matthew related costs that were not budgeted. Hurricane Irma related costs will start impacting the Port in September Hurricane related costs will increase as repairs are completed on buildings, high and low mast lighting and other damages well into FY The Port is expected to receive reimbursements through both FEMA and our private insurance carrier. Overtime was over budget by $57,929 primarily in the Security Department due to temporary staff shortages (which has been corrected) and gang watch detail. Buildings & Grounds was over budget by $130,701, primarily due to janitorial contracted labor needed for servicing the cruise terminal. MOB property taxes and utility costs of $59,959, are also budget over runs, as a result of the Tropical Shipping vacancy. Operating Expenses before depreciation and amortization are up 2.5% over prior FY Depreciation Expense is favorable to the FY by $109,079. However, additional capital asset purchases and completion of construction in progress projects may be completed by FYE 2017 and as such, depreciation expense will increase by FYE 2017, however not significantly. The Port s FY Income before contributions is $2,513,949 which is favorable to the FY by $393,590, and is up 26.2% over prior FY Ratio 5.4 times Debt to Net Position 34.4% Operating Profit Margin 22.6% Cash coverage is sound with over 600 days of cash on hand, conservative low leverage, operating efficiency is good with margins over 20%, the higher the rate, the more effectively capital is being utilized to generate operating revenue. Prepared by: Daniel Kirchman, CPA, CGMA, CPE - Port Controller

2 Statement of Net Position 31, 2017 (Unaudited) ASSETS Assets: Cash and cash equivalents $ 20,477,882 Accounts receivable (net of allowance for uncollectables) 1,250,628 Grants receivable 47,657 Prepaid items 248,117 Restricted assets: Cash and cash equivalents 9,633,806 Assets 31,658,090 Noncurrent Assets: Prepaid items - Master Plan 244,843 Other Noncurrent Assets 244,843 Capital Assets: Land 28,119,220 Building and improvements 60,800,238 Slips and improvements 49,787,788 Other improvements 35,856,431 Wharf and loading ramps 7,798,154 Autos and trucks 441,832 Furniture and fixtures 321,846 Machinery and equipment 2,493,925 Computer equipment 1,449,542 Construction in progress 8,920,954 Less: Accumulated Depreciation (74,279,791) Capital Assets (net of accumulated depreciation) 121,710,139 Noncurrent Assets 121,954,982 Assets $ 153,613,072 DEFERRED OUTFLOWS OF RESOURCES Deferred outflows of resources: Pension related items 1,138,946 Deferred loss on bond refunding, net 733,819 $ 1,872,765

3 Statement of Net Position 31, 2017 (Unaudited) LIABILITIES Liabilities: Accounts payable and accrued expenses $ 1,350,933 Unearned revenue 485,125 Compensated absences payable - short-term 237,219 Payable from restricted assets: Security deposits 175,000 Accounts payable and accrued expenses 112,771 Contracts payable 336,699 Accrued revenue bonds interest payable 303,922 portion of revenue bond payable 3,292,003 Liabilities 6,293,672 Noncurrent Liabilities: Compensated absences payable - long-term 237,219 Other post-employment benefits 171,556 Net pension liability 3,121,778 Restricted capital appreciation revenue bond interest payable 6,112,561 Revenue bonds payable (less unamortized bond discount and current portion) 23,868,349 Noncurrent Liabilities 33,511,463 Liabilities 39,805,135 DEFERRED INFLOWS OF RESOURCES Deferred inflows of resources: Pension related items 21,328 NET POSITION Net Investment in capital assets 95,283,606 Restricted for debt service 1,574,409 Restricted for renewal and replacement 779,786 Restricted for business development 575,358 Designated - Capital improvement 4,335,062 Undesignated - Operations 13,111,153 Net Position $ 115,659,374

4 (Unaudited) Schedule of Revenues and Expenses - and For the Month and Eleven Months Ending Thursday, 31, Prior 2016 $ Over (Under) to Prior Year FY $ Over (Under) to Operating Revenues: Wharfage 299,639 3,336,465 3,232, ,294 3,043, ,504 Dockage 181,839 2,049,584 1,939, ,388 2,053,500 (3,916) Parking 144,788 1,411,212 1,402,856 8,356 1,599,730 (188,518) Passengers - Day ,669 (384,669) 0 0 Passengers - Multi-day 831,286 6,744,861 6,830,006 (85,145) 7,107,778 (362,917) Storage 6,010 59,052 35,644 23,408 28,145 30,907 Water 8,632 86,650 69,240 17,410 75,757 10,893 Line Handling 8, , ,000 (37,800) 112,725 4,475 Switching 54, , ,581 91, ,099 78,938 Licenses and Permits 1, , ,200 7,500 99,000 8,700 Vessel Bunkers 2,880 50,740 78,044 (27,304) 57,257 (6,517) Cargo Terminal Fee 60, , ,975 65, ,421 44,431 Security Fees - Cargo 48, , ,152 39, ,240 36,323 Special Detail Security Fees 1,080 27,120 84,835 (57,715) 43,494 (16,374) Identification Badging 2,186 26,331 30,977 (4,646) 23,588 2,743 Harbor Master Fee 16, , ,710 1, ,827 8,084 Rent 353,689 3,887,092 4,215,866 (328,774) 3,758, ,649 Miscellaneous Income 41, , , , ,703 16,758 Operating Revenues 2,062,221 20,186,831 20,453,847 (267,016) 20,101,668 85,163 Less: Direct Marketing Support 601,545 4,221,478 4,999,136 (777,658) 4,658,562 (437,084) Net Operating Revenues 1,460,676 15,965,353 15,454, ,642 15,443, ,247 Operating Expenses: Administrative 51, , ,001 (6,197) 624,032 19,772 Office - Fin/MIS/HR 63, , , , ,526 29,838 Engineering 1,000 24,211 11,000 13,211 11,000 13,211 Consultant 3,000 34,559 34,932 (373) 33,000 1,559 Legal 13,325 91,626 50,272 41, ,500 (45,874) General Maintenance 127,518 1,448,925 1,448, ,427,019 21,906 Railroad 8, , ,319 18,447 97,735 26,031 Operations 6,599 90, ,214 (17,693) 80,485 10,036 General Expense 142,041 1,607,571 1,466, ,285 1,613,714 (6,143) Security 147,506 1,648,363 1,823,418 (175,055) 1,582,352 66,011 Business Development 48, , ,507 37, ,221 (11,072) Community Grants 0 7,606 6, ,606 0 Cruise Terminal 38, , ,064 38, ,872 82,297 Maritime Office Complex 33, , ,497 3, ,697 3,136 Southgate Complex 6,385 57,074 66,887 (9,813) 57,858 (784) Renewal and Replacement 1, , ,948 (85,480) 107,098 50,370 Maritime Office Building 9,156 61,642 11,390 50, ,642 Operating Expenses 703,545 7,966,651 7,773, ,279 7,644, ,936 Oper Income (Loss) Before Depr & Amort 757,131 7,998,702 7,681, ,363 7,798, ,311 Less: Depreciation Expense 396,778 4,359,917 4,143, ,983 4,468,996 (109,079) Less: Amortization Expense 4,485 30,582 26,415 4,167 30,582 0 Operating Income (Loss) 355,868 3,608,203 3,510,990 97,213 3,298, ,390 Non-Operating Revenues (Expenses): Interest Income 6,297 34,368 10,221 24,147 13,292 21,076 Insurance Recoveries 0 60,721 31,291 29, ,721 Grant Revenue ,880 (826,880) 0 0 Gain or (Loss) on Disposal of Assets 0 2,500 7,663 (5,163) 0 2,500 Grant Expenses 0 0 (832,630) 832, Bond Issuance Costs 0 (97) (57,050) 56,953 0 (97) Interest Expense (108,341) (1,191,746) (1,505,566) 313,820 (1,191,746) 0 Non-Oper Revenue (Expenses) (102,044) (1,094,254) (1,519,191) 424,937 (1,178,454) 84,200 Income (Loss) before contributions 253,824 2,513,949 1,991, ,150 2,120, ,590 Capital Contributions 23,354 2,503,170 1,559, ,673 Change in Net Position 277,178 5,017,119 3,551,296 1,465,823

5 Analysis of Expenses - Summary Roll-Up For the Month and Eleven Months Ending Thursday, 31, 2017 SALARIES & BENEFITS: FY Salaries & Contract Labor 2,680,193 2,653,057 (27,136) 194,283 2,874, , ,419 2,004 Overtime 202, ,923 (57,929) (45,852) 157,000 9,135 12,077 2,942 F.I.C.A. Taxes 202, ,260 13,946 31, ,280 16,289 18,020 1,731 Unemployment 3,025 1,000 (2,025) (2,025) 1, Health and Life Insurance 780, ,208 25,277 98, ,500 78,435 73,292 (5,143) Florida Retirement Benefits 250, ,230 4,505 25, ,500 21,400 21,270 (130) 4,120,040 4,076,678 (43,362) 302,716 4,422, , ,078 1,404 SERVICES & SUPPLIES: Commercial Property & Liability 474, ,167 (3,685) 49, ,000 40,760 42,833 2,073 Property Taxes 27,332 10,000 (17,332) (17,332) 10, Legal 91, ,500 45,874 58, ,000 13,325 12,500 (825) Audit & Accounting 69,540 69, ,860 89, Consultants 34,559 33,000 (1,559) 4,441 39,000 3,000 3,000 0 Engineering Fees 24,211 11,000 (13,211) (12,211) 12,000 1,000 1,000 0 Trustee Fees 6,148 6, , Bad Debt Expense ,000 10, Report Time: 4:15 PM 1 of 4

6 Port of Palm Beach District Analysis of Expenses - Summary Roll-Up For the Month and Eleven Months Ending Thursday, 31, 2017 FY Drug-Free Workplace , Uniforms 21,219 19,970 (1,249) , , Equipment Costs & Fuel 79,916 68,337 (11,579) 15,084 95,000 3,867 2,083 (1,784) Buildings & Grounds Expenses 435, ,363 (130,701) (56,564) 378,500 63,026 34,377 (28,649) Trash Removal 32,975 32,542 (433) 2,525 35,500 2,703 2, Railroad Expense 6,771 6,770 (1) 12,229 19,000 1,789 1,790 1 Locomotive Expense 48,007 34,798 (13,209) 3,993 52,000 1,596 1, Employee Development & Training 19,119 19, ,881 25,000 1,624 1,625 1 Office Expenses 58,599 52,708 (5,891) (1,099) 57,500 4,101 4, Information Technology 103,603 88,725 (14,878) 7, ,920 3,044 1,855 (1,189) Contract Security 812, ,273 4,817 79, ,571 80,848 74,298 (6,550) Other Security Expense 33,048 30,773 (2,275) 11,952 45,000 3,525 3, ID Badging 2,520 6,417 3,897 4,480 7, Tenant Operations ,731 15, ,382,356 2,220,968 (161,388) 209,035 2,591, , ,763 (34,980) BUSINESS DEVELOPMENT: Registration & Training Fees 7,510 6,400 (1,110) 24,990 32, (952) Community Affairs 16,076 17,821 1,745 28,924 45, Report Time: 4:15 PM 2 of 4

7 Port of Palm Beach District Analysis of Expenses - Summary Roll-Up For the Month and Eleven Months Ending Thursday, 31, 2017 FY Travel Expenses - Employees 13,512 13,510 (2) 12,488 26, (1) Travel Expenses - Board 5,291 5,290 (1) 24,709 30, Trade Development 54,199 50,067 (4,132) 55, ,000 3, (2,185) Dues & Subscriptions 60,020 61,307 1,287 7,015 67,035 8,901 6,428 (2,473) Marketing 26,239 26, ,771 39, Website & Other 8,384 4,125 (4,259) (3,884) 4, (218) 191, ,760 (6,471) 162, ,045 15,134 9,306 (5,828) UTILITY SERVICES: Water & Sewer 594, ,708 (2,807) 50, ,500 64,104 53,792 (10,312) Electricity 360, ,751 (27,910) 2, ,000 36,996 30,249 (6,747) Telephone Expense 119, ,833 (18,523) (9,356) 110,000 10,583 9,167 (1,416) 1,074,532 1,025,292 (49,240) 43,968 1,118, ,683 93,208 (18,475) RENEWAL & REPLACEMENT: Renewal & Replacement Exp. 157, ,098 (50,372) 92, ,000 1,929 1,929 0 OTHER EXPENSES: Report Time: 4:15 PM 3 of 4

8 Port of Palm Beach District Analysis of Expenses - Summary Roll-Up For the Month and Eleven Months Ending Thursday, 31, 2017 FY Miscellaneous Expenses 41,032 29,918 (11,114) (5,282) 35,750 4, (3,807) TOTAL EXPENSES 7,966,661 7,644,714 (321,947) 805,781 8,772, , ,861 (61,686) Report Time: 4:15 PM 4 of 4

9 For the Month and Eleven Months Ending Thursday, 31, 2017 FINANCE & I.T. FY Salaries 566, ,788 8,124 56, ,687 45,879 47,899 2,020 F.I.C.A. Expense 40,751 43,972 3,221 6,885 47,636 3,389 3, Contracted Financial Services 5,276 0 (5,276) (5,276) Telephone 71,876 60,500 (11,376) (5,876) 66,000 6,481 5,500 (981) Computer Training/Consulting 27,663 27, ,587 47,250 1,188 1,190 2 Computer Maintenance 68,572 53,670 (14,902) (14,902) 53,670 1,192 0 (1,192) Postage 3,251 2,750 (501) (251) 3, Office Maintenance 8,261 9, ,739 10, Records Storage 2,476 3, ,024 3, Computer Software & Supplies 7,368 7, ,632 10, Printing 6,742 5,500 (1,242) (742) 6, Public Notice Publication 13,981 4,583 (9,398) (8,981) 5, Miscellaneous - Office 16,761 15,000 (1,761) (1,761) 15,000 1, (1,754) Office Supplies 16,714 18,333 1,619 3,286 20,000 1,892 1,667 (225) Bank Service Charges 9 0 (9) (9) , ,526 (29,839) 53, ,743 63,654 63,037 (617)

10 For the Month and Eleven Months Ending Thursday, 31, 2017 GENERAL MAINTENANCE FY Salaries 423, ,023 12,613 48, ,358 34,921 36,335 1,414 Overtime 48,632 41,538 (7,094) (3,632) 45,000 1,796 3,462 1,666 Overtime - Line Handling 26,220 27,692 1,472 3,780 30,000 1,615 2, F.I.C.A. Expense 36,136 40,841 4,705 8,108 44,244 2,779 3, Office Equipment Maintenance Telephone 9,391 7,333 (2,058) (1,391) 8, (93) Water 530, ,083 (3,234) 44, ,000 58,386 47,917 (10,469) Water - Maintenance Office 1,308 1, , Stormwater Assessment 62,890 63, ,110 69,000 5,717 5, Electricity 113, ,167 5,980 16, ,000 10,917 10,833 (84) Equipment Rental 8,349 6,585 (1,764) 1,651 10, Generator Supplies 10,770 10,765 (5) 14,230 25, Building & Grounds 70,679 50,000 (20,679) (20,679) 50,000 2,505 0 (2,505) Trash Removal 3,194 7,333 4,139 4,806 8, Uniforms 14,268 13,750 (518) , , Boat Repair (3) 4,827 5, Gas & Oil 29,112 22,917 (6,195) (4,112) 25,000 3,516 2,083 (1,433) Janitorial Services & Supplies 7,511 4,583 (2,928) (2,511) 5,

11 Port of Palm Beach District For the Month and Eleven Months Ending Thursday, 31, 2017 FY Supplies 15,117 13,750 (1,367) (117) 15,000 1,793 1,250 (543) Dock Repair 9,014 5,000 (4,014) (4,014) 5,000 1,450 0 (1,450) Miscellaneous 641 2,405 1,764 2,859 3, Equipment Repair 28,606 25,000 (3,606) (3,606) 25, (351) 1,448,925 1,427,018 (21,907) 118,177 1,567, , ,509 (11,008)

12 For the Month and Eleven Months Ending Thursday, 31, 2017 SECURITY FY Salaries 628, ,728 (28,248) 21, ,789 52,503 50,061 (2,442) Overtime 96,635 55,385 (41,250) (36,635) 60,000 3,358 4,615 1,257 F.I.C.A. Expense 52,807 50,192 (2,615) 1,568 54,375 4,022 4, Office Equip. Rental & Maintenance ,000 1, Security Equipment Repairs 13,936 12,440 (1,496) 11,064 25,000 1,875 1,875 0 Travel - Security ,000 1, Telephone 9,844 10, ,156 11, Uniforms 6,729 6,000 (729) (729) 6, (117) Identification Badging 2,520 6,417 3,897 4,480 7, Riviera Beach Police Presence 37,510 73,333 35,823 42,490 80,000 2,183 6,667 4,484 Contract Security - Cargo & TWIC 124,614 73,333 (51,281) (44,614) 80,000 10,097 6,667 (3,430) Miscellaneous - Security 5,348 4,583 (765) (348) 5,000 2, (1,844) Contract Security - Cruise 650, ,607 20,275 81, ,571 68,568 60,964 (7,604) Radio Maintenance 19,112 18,333 (779) ,000 1,650 1, ,648,363 1,582,351 (66,012) 84,372 1,732, , ,699 (8,808)

13 For the Month and Eleven Months Ending Thursday, 31, 2017 RAILROAD FY Salaries 29,568 28,615 (953) 1,432 31,000 2,278 2, Overtime 30,766 20,308 (10,458) (8,766) 22,000 2,366 1,692 (674) F.I.C.A. Expense 4,439 3,743 (696) (384) 4, (29) Locomotive Rental ,000 2, Train Derailment ,000 10, Uniforms Locomotive Fuel & Oil 25,531 18,333 (7,198) (5,531) 20,000 1,596 1, Track R&M Exp. 6,199 6, ,801 15,000 1,789 1,790 1 Locomotive Inspections 6,466 6,465 (1) 3,534 10, Locomotive R&M Exp. 16,010 10,000 (6,010) (6,010) 10, Railroad Equipment (2) 3,428 4, Miscellaneous 4,216 3,500 (716) (716) 3, (137) 123,767 97,734 (26,033) 8, ,055 8,507 7,846 (661)

14 For the Month and Eleven Months Ending Thursday, 31, 2017 BUSINESS DEVELOPMENT FY Salaries 347, ,638 14,136 44, ,775 29,048 30,137 1,089 Florida Retirement System 34,293 35,538 1,245 4,207 38,500 2,991 2,962 (29) F.I.C.A. Expense 23,654 27,666 4,012 6,317 29,971 2,044 2, Miscellaneous 4,885 2,250 (2,635) (2,635) 2, (72) Website 8,359 2,750 (5,609) (5,359) 3, (343) Telephone Expense 3,344 4, ,156 4, Promotion 12,164 12, ,336 16, (1) Trade Development 19,788 18,615 (1,173) 35,212 55,000 1,175 0 (1,175) Trade Development - Dining 12,122 9,167 (2,955) (2,122) 10,000 1, (1,010) Trade Missions 21,289 21,285 (4) 18,711 40, Travel Expenses 13,512 13,510 (2) 11,488 25, (1) Travel Expenses - McArthur ,000 6, Travel Expenses - Ciklin ,000 6, Travel Expenses - Mastics ,500 1, Travel Expenses - Richards 1,761 1,760 (1) 4,239 6, Travel Expenses - Waldron 3,530 3, , Travel Expenses - Enright ,000 6, Community Relations 8,470 10,215 1,745 26,530 35,

15 Port of Palm Beach District For the Month and Eleven Months Ending Thursday, 31, 2017 FY Postage & Shipping 25 1,375 1,350 1,475 1, Trade Development - Sponsorships 1,000 1, ,000 5, Registration Fees 3,900 3, ,100 30, Membership Dues 53,207 56,865 3,658 8,828 62,035 7,627 5,170 (2,457) Training 3,610 2,500 (1,110) (1,110) 2, (952) Subscriptions 4,661 2,292 (2,369) (2,161) 2, (16) Advertising 14,075 14, ,435 17, Publications ,000 5, , ,221 11, , ,541 48,465 44,035 (4,430)

16 For the Month and Eleven Months Ending Thursday, 31, 2017 FY ADMIN. & H.R. Salaries - Commissioners 43,542 43, ,958 47,500 3,958 3,958 0 Salaries - Exec. Director & Staff 528, ,122 7,163 51, ,799 44,751 44,677 (74) Contract Admin. Services 31,625 0 (31,625) (31,625) FICA Expense 39,079 44,368 5,289 8,986 48,065 3,270 3, Overtime - Administration (599) (599) , ,032 (19,772) 32, ,364 51,979 52,

17 For the Month and Eleven Months Ending Thursday, 31, 2017 LEGAL FY Fees and Expenses 91, ,500 45,874 58, ,000 13,325 12,500 (825) 91, ,500 45,874 58, ,000 13,325 12,500 (825)

18 For the Month and Eleven Months Ending Thursday, 31, 2017 ENGINEERING FY Retainer - CH2MHILL 11,000 11, ,000 12,000 1,000 1,000 0 Fees and Expenses 13,211 0 (13,211) (13,211) ,211 11,000 (13,211) (12,211) 12,000 1,000 1,000 0

19 For the Month and Eleven Months Ending Thursday, 31, 2017 CONSULTING FY Consultants - Governmental 34,559 33,000 (1,559) 4,441 39,000 3,000 3, ,559 33,000 (1,559) 4,441 39,000 3,000 3,000 0

20 For the Month and Eleven Months Ending Thursday, 31, 2017 SOUTHGATE COMPLEX FY Buildings & Grounds 10,407 10,400 (7) 7,593 18, (2) Janitorial Services& Supplies (168) Miscellaneous ,000 2, Electric 34,433 36,667 2,234 5,567 40,000 3,638 3,333 (305) Telephone 5,964 5,042 (922) (464) 5, (48) Trash Removal 2,166 2, , (44) HVAC Repairs & Maint. 3,744 3,000 (744) (744) 3,000 1, (742) 57,075 57, ,425 71,500 6,385 5,076 (1,309)

21 For the Month and Eleven Months Ending Thursday, 31, 2017 GENERAL EXPENSE FY Audit & Accounting Services 69,540 69, ,860 89, Transcription Services for Board Meetings 7,165 7, ,335 8,500 1, (446) Bad Debt Expense ,000 10, Unemployment Compensation 3,025 1,000 (2,025) (2,025) 1, General Commercial Prop & Liab Insurance 474, ,167 (3,685) 39, ,000 40,760 42,833 2,073 Group Health / Dental / Vision 753, ,875 23,153 93, ,500 75,708 70,625 (5,083) Employee Basic Life Insurance 12,857 14,208 1,351 2,643 15,500 1,270 1, Employee S/Term Disability Ins. 14,352 15, ,148 16,500 1,457 1,375 (82) Florida Retirement System 216, ,692 3,260 21, ,000 18,409 18,308 (101) Trustee Fees For Bonds 6,148 6, , Drug-Free Workplace , Insurance Contingency ,000 10, Membership Dues 2,152 2,150 (2) 348 2,500 1,050 1,050 0 Training 19,119 19, ,881 25,000 1,624 1,625 1 Ad Valorem Taxes 27,332 10,000 (17,332) (17,332) 10, Miscellaneous (1) 2,319 2, ,607,572 1,613,714 6, ,828 1,798, , ,426 (3,615)

22 For the Month and Eleven Months Ending Thursday, 31, 2017 COMMUNITY OUTREACH FY Community Grants - Waldron 1,462 1, , Community Grants - Ciklin ,138 2, Community Grants - Mastics Community Grants - Richards 2,000 2, , Community Grants - McArthur 1,197 1, , Community Grants -Enright 1,995 1, , ,606 7, ,394 10,

23 For the Month and Eleven Months Ending Thursday, 31, 2017 MARITIME OFFICE BUILDING FY Buildings & Grounds 3,386 0 (3,386) (3,386) (259) Telephone - Elevator 1,617 0 (1,617) (1,617) (151) Telephone - Fire Alarm Lines 2,983 0 (2,983) (2,983) (271) Trash Removal (654) (654) Electricity 42,627 0 (42,627) (42,627) 0 6,048 0 (6,048) Building Maintenance 10,376 0 (10,376) (10,376) 0 2,427 0 (2,427) 61,643 0 (61,643) (61,643) 0 9,156 0 (9,156)

24 For the Month and Eleven Months Ending Thursday, 31, 2017 FY CRUISE TERMINAL Building & Grounds 56,220 56,215 (5) 8,780 65,000 6,522 6,520 (2) FMT Loading Bridge Maint. 2,906 2,900 (6) 2,094 5, Miscellaneous ,912 2, Electric 42,733 41,250 (1,483) 2,267 45,000 3,947 3,750 (197) Electric - Chiller Plant 25,672 30,250 4,578 7,328 33,000 2,610 2, Telephone 4,354 4, , Telephone - Elevator 2,903 2,750 (153) 97 3, (21) HVAC Repairs & Maintenance 30,465 15,000 (15,465) (15,465) 15,000 14,241 0 (14,241) Janitorial Services & Supplies 115,829 45,833 (69,996) (65,829) 50,000 10,750 4,167 (6,583) Window Cleaning ,000 2, , ,871 (82,299) (56,170) 225,000 38,748 17,854 (20,894)

25 For the Month and Eleven Months Ending Thursday, 31, 2017 MARITIME OFFICE COMPLEX FY Building & Grounds 39,824 39,820 (4) 30,176 70,000 2,307 2,305 (2) Trash Removal 26,961 22,917 (4,044) (1,961) 25,000 2,451 2,083 (368) Miscellaneous ,000 1, Electricity 63,501 68,750 5,249 11,499 75,000 5,921 6, Electric - Chiller Plant 38,508 36,667 (1,841) 1,492 40,000 3,915 3,333 (582) Telephone 3,265 3,208 (57) 235 3, Telephone - Elevator 2,903 2,292 (611) (403) 2, (63) HVAC Repairs & Maintenance 41,709 41, ,291 50,000 16,973 16,975 2 Janitorial Services & Supplies 20,162 18,333 (1,829) (162) 20,000 1,608 1, Window Cleaning ,000 2, , ,697 (3,136) 52, ,000 33,734 33,113 (621)

26 For the Month and Eleven Months Ending Thursday, 31, 2017 RENEWAL AND REPLACEMENT FY Non-Capital Expenses: 0 107, , , , ,929 1,929 Communication Equipment Expense 2,793 0 (2,793) (2,793) Portwide Paving 21,007 0 (21,007) (21,007) Railroad Trackage Repairs & Maint. 35,391 0 (35,391) (35,391) Security Equipment 8,416 0 (8,416) (8,416) 0 3,889 0 (3,889) Office Furniture/Equip. Replacement - Expenses 1,503 0 (1,503) (1,503) Computer Systems - non-capital (388) (388) Condition/Boundary Survey 2,495 0 (2,495) (2,495) Buildings and Grounds - Port-Wide 8,402 0 (8,402) (8,402) Maintenance Dredging 2,370 0 (2,370) (2,370) Dock & Slip Repairs & Maint. 2,833 0 (2,833) (2,833) Chiller Plant Overhaul - R&M Expense 21,501 0 (21,501) (21,501) 0 (1,960) 0 1,960 Hurricane Matthew Storm Repairs 50,371 0 (50,371) (50,371) , ,098 (50,372) 92, ,000 1,929 1,929 0

27 For the Month and Eleven Months Ending Thursday, 31, 2017 FY OPERATIONS Salaries - Operations 74,672 71,601 (3,071) 2,896 77,568 6,077 5,967 (110) FICA Expense 5,448 5, , Tenant Operations ,731 15, Miscellaneous 9,000 2,000 (7,000) (7,000) 2, Uniforms (2) Telephone , ,523 80,486 (10,037) 11, ,002 6,599 6,506 (93)

28 For the Month and Eleven Months Ending Thursday, 31, 2017 FY Expenses 7,966,663 7,644,713 (321,950) 805,779 8,772, , ,862 (61,684)