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THE VIRGIN ISLANDS PORT AUTHORITY FISCAL YEAR 2021 OPERATING AND CAPITAL BUDGET SUMMARY STATEMENT Operating and Capital Budget –Summary Statement Fiscal Year 2021 2 | P a g e Table of Contents I. Introduction ......................................................................................................................................... 3 The Authority .......................................................................................................................................... 3 COVID-19 Global Pandemic ................................................................................................................. 3 FY2021 Budget in Overview .................................................................................................................. 5 The Numbers at a Glance ....................................................................................................................... 6 II. Forecast of U.S.V.I. Air and Cruise Passengers ............................................................................... 7 III. Strategic Goals and Initiatives ........................................................................................................... 8 IV. Budget Summaries .............................................................................................................................. 9 Operating Budget Summary .................................................................................................................. 9 Capital Budget Summary ..................................................................................................................... 14 Cash Flow Budget Summary ............................................................................................................... 15 APPENDICES -SCHEDULES 1-8 Operating and Capital Budget –Summary Statement Fiscal Year 2021 3 | P a g e I. Introduction Presented herewith is the budget for the Virgin Islands Port Authority (“VIPA” or “Authority”) for the fiscal year ending September 30, 2021 (the “FY2021 Budget”). The FY2021 Budget has been prepared in accordance with the budgetary policy established by the VIPA Governing Board in the statement of Financial Policies for the Virgin Islands Port Authority. The Authority The Authority was established by Virgin Islands law (Act No. 2375) as a public corporation and autonomous governmental instrumentality of the Government of the Virgin Islands. Its statutory purpose is to own, manage and operate the air and marine ports and facilities and to control the harbors of the U.S. Virgin Islands and to make economic and other benefits available “in the widest economic manner” to promote the general welfare and to increase commerce and prosperity. The Authority is expected to be financially self-sufficient and does not receive funding from the General Fund of the Government of the Virgin Islands. Accordingly, it is statutorily authorized to charge and collect fees, dues and charges for the use of its facilities. Through its Aviation Division, the Authority owns and operates two airports: The Cyril E. King Airport (CEKA) on St. Thomas and the Henry E. Rohlsen Airport (HERA) on St. Croix. Through its Marine Division, the Authority owns and operates marine cargo and passenger facilities on St. Thomas, St. Croix, and St. John. COVID-19 - Global Pandemic On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus (COVID-19) originating in Wuhan, China, and the risks to the international community as the virus spreads globally beyond its point of origin.  In March 2020, the WHO classified the coronavirus as a pandemic, based on the rapid increase in exposure globally.  The pandemic is far more than a health crisis: it is distressing societies and economies across the world. While the impact of the pandemic will vary from country to country, the COVID-19 pandemic is a critical threat to the Virgin Island Port Authority. As a result of the pandemic, VIPA has experienced a reduction in the number of passengers on both the aviation and the marine sectors of its operations. Operating and Capital Budget –Summary Statement Fiscal Year 2021 4 | P a g e Aviation - Affected by COVID-19 Our aviation industry has been significantly affected by the COVID-19 pandemic. We have seen a 90% reduction in airlift to the Territory. However, the Coronavirus Aid, Relief, and Economic Security Act or CARES Act approved in March 2020 provides VIPA with some relief. This Act was passed to support U.S. airports experiencing severe economic disruption caused by the COVID-19 public health emergency. This funding, distributed by the FAA to airports, is to prevent, prepare for, and respond to the impacts of the COVID-19 public health emergency. Funds are available to 1) keep airports in reliable, safe operation to serve the aviation industry, the travelling public, and support the economy; 2) to keep airport and aviation workers employed and; 3) to keep airport credit ratings stable. The FAA awarded the US Virgin Islands $38M in federal aid for both Cyril King and Henry Rohlsen Airports. VIPA expects to use $17M of the awarded funds in FY2021, to cover operational expenses related to its aviation sector. The CARES Act is a reimbursable program and VIPA must first spend the funds to be reimbursed. In June 2020, air traffic had resumed at a bare minimal scale, and flights were at max capacity coming to and from the territory, however this airlift was subsequently affected by various Executive Orders imposing “stay at home orders” to slow the spread of COVID-19. On September 19, 2020, the Territory reopened to leisure travelers and VIPA is once again seeing an uptick in airlift. Marine - Affected by COVID-19 The marine industry and VIPA’s marine sector have been severely impacted by the COVID-19 pandemic. Our forecasts show a 40% reduction in Marine revenue for FY2021 as a result of the pandemic. On March 14, 2020, the Centers for Disease Control and Prevention (CDC) issued a “No Sail Order” (Centers for Disease Control and Prevention, cdc.gov, 2020). This order directs all cruise ship operators to cease and desist operations in United States bodies of water. Cruise ship companies are not allowed to embark or disembark passengers or crew at any US ports or stations without United States Coast Guard and other government agency approvals (Centers for Disease Control and Prevention, cdc.gov, 2020). As an additional preventative measure to combat COVID-19 and ensure public health, the Cruise Lines International Association (CLIA) announced that cruise line associated members would voluntarily extend the suspension of cruise related operations at U.S. ports through September 15, 2020 (Cruise Lines International Association, cruising.org, 2020). As of July 16, 2020, the CDC extended its “No Sail Order” through to September 30, 2020 (Center for Disease Control and Prevention, 2020). Under the direction of Executive Director Carlton Dowe, the Virgin Islands Port Authority has joined with other port authorities around the United States, in conjunction with the American Association of Port Authorities (AAPA) and submitted a letter to Congress seeking funding to support our marine operations. On July 24, 2020, the letters were sent to the U.S. House, Senate and Administration leaders requesting $1.5 billion in aid for critical operating expenses for U.S. Operating and Capital Budget –Summary Statement Fiscal Year 2021 5 | P a g e seaports affected by COVID-19 (American Association of Port Authorities, 2020). As of July 31, 2020, the AAPA released an updated press release. U.S. Senator Jeff Merkley (D-OR) and Senate Commerce Committee Security Subcommittee Chairman Dan Sullivan announced S. 4395 bill in the House, which is the Maritime Transportation System Emergency Relief Act (MTSERA) (American Assocation of Port Authorities, 2020). This bill is in addition to H.R. 7515 Maritime Transportation System Emergency Relief Act that was introduced to the House on July 9, 2020 by Transportation and Infrastructure Chairman Peter A. Defazio and Coast Guard and Maritime Transportation Subcommittee Chairman Sean Patrick Maloney (D-NY) (American Assocation of Port Authorities, 2020). MTSERA’s purpose is to provide emergency funding aid to the United States ports affected by the COVID-19 pandemic. The Virgin Islands Port Authority has also reached out to the Department of Interior, the USVI’s Delegate to Congress, and our marine stakeholders to ask for their support for a federal marine subsidy. FY2021 Budget in Overview In the aggregate, the FY2021 Budget anticipates operating expenses, excluding depreciation, of $55M, debt service cost of $4.6M and capital expenditures of $90.8M for a total outlay of $150.4M. These outlays are funded by $38.2M from current revenues (operating fees and charges), $10M from an anticipated marine federal subsidy, $4.9M from passenger facility charges, $700K from car rental facility charges, $64.8M from capital grants, $6M from cash on hand, $17M from the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), $2.3M from insurance funds, $3.6M from government grants (PFA) and $2.9M from debt funded marine proceeds- a total of $150.4M. [See Table 2] FY2021 Bdgt. FY2020 Bdgt. FY2019 Est. FY2018 Act.* FY2017 Act.* FY2016 Act.* Operating Expense[1] $55,008 $56,714 $46,992 $52,633 $44,709 $42,095 Debt Service 4,560 4,555 4,553 4,556 4,557 4,553 Transfers 0 -382 0 0 0 0 Renewal and Replacement 0 324 0 0 0 0 Capital Expenditure 90,848 114,073 17,608 26,272 24,120 14,749 Total $150,416 $175,284 $69,153 $83,461 $73,386 $61,397 Depreciation Expense $19,144 $17,756 $17,756 $16,285 $21,049 $17,587 Table 1: FY2021 Budget Aggregate Outlays (In $1,000's) [1] Excluding depreciation. *Excludes GASB Non-cash Adjustments Operating and Capital Budget –Summary Statement Fiscal Year 2021 6 | P a g e The Numbers at a Glance • Fiscal Year 2021 revenues of $38.2M are -$24.5M lower (↓39%) when compared to the $62.7M budgeted for FY2020; however, when compared to the estimated FY2020 revenue collections of $43.5M (See Schedule 4), FY2021 revenues of $38.2M are -$5.3M lower (-12 %) as a result of:  Aviation – When compared to estimated FY2020 revenues of $20.9M (See Schedule 5), aviation revenues for FY2021 of $16.9M are -$4M lower (↓19%). In contrast, aviation revenues for FY2021 ($16.9M) when measured against the FY2020 budget ($34.3M), reflects a decrease of 51%. As depicted below, the decreased passenger activity in FY2021 is directly related to the COVID-19 global pandemic that started in the second quarter of fiscal year 2020:  CEKA (St Thomas Airport) is expected to end FY2021 with approximately 300,000 enplaned passengers – (↓50%) decrease from the 604,000 of FY2019.  HERA (St Croix Airport) is expected to end FY2021 with approximately 80,000 enplaned passengers – (↓65%) decrease from the 229,000 in FY2019.  In Total VIPA should have approximately 380,000 enplanements for FY 2021 – (↓54%) decrease from the approximately 833,000 in FY2019. FY2021 Bdgt[1] FY2020 Bdgt FY2019 Bdgt Operating Revenues $38,192 $62,749 $48,655 Anticipated Federal Subsidy 10,000 0 0 Renewal & Replacement Reserve 0 121 121 Passenger Facility Charges 4,898 6,637 1,103 Car Rental Facility Charges 700 300 274 Capital Grants 64,860 83,275 25,021 Cash Reserves & Other 6,000 8,801 21,442 CARES Act 16,955 0 0 Insurance Funds 2,335 5,310 0 Government Grants 3,618 500 500 Debt Funded Marine Projects 2,857 7,591 11,217 $150,415 $175,284 $108,333 [1] FY 2021 Cash Flow Budget Table 2: FY2021 Budget Aggregate Resources (In $1,000's) [2] Operating and Capital Budget –Summary Statement Fiscal Year 2021 7 | P a g e  Marine – When compared to FY2020 estimated revenue collections of $22.6M (See Schedule 6), marine revenues anticipated for FY2021 of $21.3M are -$1.3M lower (↓6%). In retrospect, the marine division is expected to have decreased passenger activity in FY2021 due to the COVID-19 global pandemic and the local and federal guidelines instituted for public safety:  St Thomas/St Croix is expected to end FY2021 with 700,000 or less cruise passengers if cruise ships are allowed or even capable of returning to the U.S.V.I. When compared to the FY2020 estimated cruise passenger count of 902,000, the FY2021 projected count of 700,000 is (↓22%) lower and also shows a (↓59%) decrease in passengers when compared to the unaudited estimate of 1,710,000 in FY2019. • Fiscal Year 2021 core operating expenses of $55M (excluding depreciation) reflects a (↑17%) increase when compared to the FY2020 year-end estimate of $47M. When measured against the FY2020 budget of $56.7M core operating expenses also realized a $1.7M (↓3%) decrease (Table 1). Using the FY2020 year-end estimates, the assumptions underlying core operating expenses are as follows:  Payroll costs are expected to increase by $3.3M (↑12%), largely because of increased medical costs and VIPA board approved positions added in FY2020. The Payroll budget also includes $2.4M in unfilled vacancies which are currently on hold due to a hiring freeze set by the executive director as a cost-saving measure to combat the COVID-19 pandemic affecting VIPAs revenues.  Materials and supplies are expected to increase by $730K (↑71%) and professional services are expected to increase by $1.4M (↑30%) mainly due to:  Continued normal operations and to provide the necessary resources for COVID-19 preventative measures.  Insurance costs will increase by $1.1M (↑21%).  Utilities are anticipated to increase by $738K (↑15%), due to newly added facilities and restoration of VIPAs properties and buildings damaged in the FY2017 hurricanes Irma and Maria. II. Forecast of U.S.V.I. Air and Cruise Passengers The number of Port Authority air and cruise passengers is usually relatively stable. That is, from one year to the next, air and cruise schedules rarely change significantly. The decreased air and cruise traffic in previous four fiscal years was mainly a result of the prior September 2017 hurricanes and many of the U.S.V.I major hotels closing pending repairs. Since then, passenger traffic was slowly restoring to pre-hurricane levels, but as noted above, the current global COVID- 19 pandemic has brought air traffic to a bare minimum and the cruise industry to a complete halt. Operating and Capital Budget –Summary Statement Fiscal Year 2021 8 | P a g e Following the latest travel notice issued (August 6, 2020) by the Centers for Disease Control and Prevention (CDC), the US Virgin Islands is under a level 3 COVID-19 risk. The warning is issued as a recommendation to avoid all “non-essential travel” to the United States Virgin Islands (CDC, 2020)i. Air passenger traffic for FY2021 is expected to remain at bare minimum levels. Cruise passenger traffic for FY21 is expected to move from a complete halt to a safer, distant and heavily screened travel arrangements with rigorous health protocols from the start of booking to the end of the cruise (Cruise Lines International Association, 2020)ii . The forecast above reflects air and cruise ship schedules for FY21 with significant decreases in passenger traffic to St Thomas and St Croix ports. III. Strategic Goals and Initiatives The FY2021 budget embodies several strategic goals and initiatives. These include: • Maintaining Marine Debt Service coverage at 1.25 times. • Continuation of necessary Aviation and Marine Capital Programs • Rebuild and harden Port Authority Assets • Promote resilience and recovery efforts throughout the Port Authority • Maintaining safety precautions and new requirements at our ports to combat COVID-19 • Marine asset diversification 2021P 2020E 2019E 2018A 2017A 2016A Cruise 700 902 1,710 1,149 1,552 1,905 Air 380 450 833 573 956 972 Table 3: Passengers (In 1,000's) Operating and Capital Budget –Summary Statement Fiscal Year 2021 9 | P a g e IV. Budget Summaries Operating Budget Summary In summary, as presented in Table 4 above, the FY2021 operating budget is based on $38.2M in combined Aviation and Marine operating revenues and $55M (see Schedule 1) in operating expenses (including depreciation expense of $19.1M), resulting in operating loss of -$36M. Non- operating revenues of $1.5M (primarily passenger and customer facilities charges) are offset by $1.7M in interest expense (on long term debt), for a net contribution of -$195K. An additional $64.9M in capital grant contributions, insurance funds of $2.3M, $3.6M in government grants (PFA), CARES Act reimbursement of $17M and an anticipated marine federal subsidy of $10M results in net assets of $61.6M. Earnings before Interest and excluding depreciation expense, operating revenues are less than operating expenses by -$16.8M. (In $1,000's) FY 21 Bdgt FY 20 Bdgt FY 19 Est FY 18 Act FY 17 Act FY 16 Act Aviation Revenues $16,864 $32,372 $30,270 $16,560 $24,652 $24,673 Marine Revenues 21,328 30,377 32,261 24,265 29,693 30,123 Total Operating Revenues $38,192 $62,749 $62,531 $40,825 $54,345 $54,796 Operating Expense 55,008 56,713 46,839 52,633 44,709 42,095 Depreciation Expense 19,144 17,756 17,757 16,285 21,049 17,587 Operating Income (Loss) -35,960 -11,720 (2,065) (28,093) (11,413) (4,886) Non-Operating Revenue(Expense), net -195 139 (26,394) (830) 1,851 2,294 Insurance Funds 2,335 5,310 20,158 56,225 - - Capital Contributions 64,860 83,275 4,205 9,726 9,944 5,001 Anticipated Federal Subsidy 10,000 0 - - - - CARES Act Reimbursement 16,955 0 - - - - Government Grants 3,618 500 - - - - Change in Net Assets $61,613 $77,504 (4,096) $37,028 $382 $2,409 EBID1 -$16,816 $6,036 $15,692 -$11,808 $9,636 $12,701 1 Earnings Before Interest & Depreciation. [1] Source: VIPA Audited Financial Statement Fiscal Years 2016-2018 [2] Excludes GASB Non-Cash Adjustment Table 4: FY2021 Operating Revenue & Expense Summary[1] Operating and Capital Budget –Summary Statement Fiscal Year 2021 10 | P a g e Table 5 shows that the Aviation Division is expected to contribute $16.9M in operating revenues (or 44%) of the total operating revenues ($38.2M) and incur $18.8M (or 34%) of total direct operating expenses ($55M); resulting in an operating loss of -$24.8M. On a cash basis and excluding depreciation the loss decreases to -$11.7M. The aviation operating losses of -$11.7M will be covered by $17M in CARES Act reimbursements. The Marine Division is expected to generate operating revenues of $21.3M (56%) of the total operating revenues and incur direct operating expenses of $17.1M (31%) of total operating expenses of $55M; thereby producing an operating loss of -$11.1M – on a cash basis excluding depreciation the operating loss would decrease to -$5.1M. The negative net operating cash of -$5.1M will be covered by $6M in cash on hand and $10M in an anticipated marine federal subsidy. Long term debt (bond debt) service (P&I) of $4.6 will be covered 2.37 times, which exceeds the bond indenture requirement of 1.25 times by 1.11. Administration and General (A&G) expenses are budgeted at $19.2M on a cash basis excluding depreciation. Of this, $9.8M (51%) is allocated to the Aviation Division and $9.4M (49%) is allocated to the Marine Division. The A&G allocated amounts comprise 52% of the Aviation Division operating expense budget and 55% of the Marine Division’s operating expense budget – excluding depreciation. Table 5: Revenue & Expense Contribution (In $1,000's) Aviation Marine Admin & Gen FY21 Total Operating Revenues $16,864 $21,328 $0 38,192 Operating Expense 18,756 17,059 19,193 55,008 Admin & Gen Exp. Allocated 9,788 9,405 (19,193) 0 Admin & Gen Deprec. Allocated 466 209 (675) 0 Depreciation Expense 12,668 5,801 675 19,144 Operating Expenses 41,678 32,474 0 74,152 Operating Income (Loss) -$24,814 -$11,146 $0 -$35,960 EBID -$11,680 -$5,136 $0 -$16,816 Operating and Capital Budget –Summary Statement Fiscal Year 2021 11 | P a g e The FY2021 operating revenue budget for the Aviation Division reflects the decrease in passenger activity due to COVID-19. Projected revenues of $16.9M are -$4M lower (19%) than FY2020 estimates and $13.4M lower (44%) than FY2019 estimates. The following underlying assumptions were utilized in deriving aviation revenue estimates: • Decreased air traffic starting from second quarter of FY2020 will continue though all or most of FY2021. Expected 50% or more revenue decrease in aircraft fees and commissions when compared to unaudited FY2019 charges and fees. For the Marine Division, FY2021 projected revenues of $21.3M are -$1.3M lower (6%) than FY2020 estimates of $22.6M and $11M lower (34%) than FY2019 estimates of $32.3M. The following underlying assumptions were utilized in deriving marine revenue estimates: • Marine cruise revenues are expected to remain decreased by 40% or more in FY2021 while marine cargo revenue such as pilotage, docking and wharfage fees will remain constant or mildly affected by COVID-19 economic issues. Table 6: Aviation Revenue Summary (In $1,000’s) FY 21 Bdgt FY 20 Est FY 19 Est FY 18 Act FY 17 Act FY 16 Act Aircraft Fees $2,387 $2,940 $4,793 $2,816 $4,234 $3,576 Rental Income 5,084 5,919 4,995 4,973 6,649 6,826 Commissions & Fees 9,393 11,997 20,482 8,771 13,768 14,271 Operating Revenues $16,864 $20,856 $30,270 $16,560 $24,651 $24,673 Rental Income $4,100 $4,902 $5,320 $4,718 $5,827 $6,342 Commission & Concession Fees 1,149 773 265 147 370 639 Marine Fees & Dues 16,079 16,955 26,676 19,400 23,496 23,142 Total $21,328 $22,630 $32,261 $24,265 $29,693 $30,123 Table 7: Marine Revenue Summary ($1,000's) FY 16 Act* FY 17 Act FY 20 Est FY 19 Est FY 18 Est FY 21 Bdgt Operating and Capital Budget –Summary Statement Fiscal Year 2021 12 | P a g e As summarized in Table 8, the FY2021 payroll expense budget totals $30.8M. It consists of $20M in payments to employees, $4.9M in payroll taxes and mandatory employer contributions, and $5.9M in employee health insurance costs. FICA is assessed at 7.65% for payments to employees (up to $127K); employer contributions to GERS is assessed at the rate of 20.5% (up to $65K); and workers’ compensation insurance is assessed at $240 per employee per year. The $30.8M budgeted for FY2021 is $3.3M (12%) more than FY2020 estimate of $27.6M, and $6.6M (27%) more than the actuals audited through September 30, 2018. The reason for this increase is largely due to negotiated union salary increases after FY2018 for administration and support positions, while also adding several critical positions in fiscal years 2019 and 2020 to meet FAA requirements. Current restoration and completion of major port projects related to hurricane damages also needed several crucial management positions. In FY2021, there are 383 full-time equivalents (FTE) position slots, as follows: FY2021 FTE POSITION SUMMARY Division Count Payroll Costs Aviation 106 $ 4,186,619 Marine 92 $ 4,920,740 Support 195 $ 8,700,132 Total 383 $ 17,807,491 *Excludes Fringe Costs The chart above shows the number of positions and associated payroll costs among the aviation, marine and support divisions. Of the 383 total positions, there are thirty-six (36) vacancies at $1,344,301; eleven (11) in the Aviation Division at $397,462, six (6) in the Marine Division at $202,571 and nineteen (19) in the support divisions at $744,268. Table 8: Payroll Cost Summary ($1,000's) FY 21 Bdgt FY 20 Est FY 19 Est FY 18 Act FY 17 Act FY 16 Act Salaries & Wages $17,807 $15,534 $14,387 $13,810 $14,178 $14,491 Overtime & Other Pay 2,232 2,397 2,528 1,936 2,087 1,585 Payments to Employees $20,039 $17,931 $16,915 $15,746 $16,265 $16,076 FICA, Retirement & Wkrs Comp 4,937 4,657 4,072 3,995 4,203 4,300 Health, Dental & Life Insurance 5,873 4,963 4,153 4,469 5,684 3,843 Lump Sum 0 0 0 0 0 0 Total Expenses $30,849 $27,551 $25,140 $24,210 $26,152 $24,219 *Excludes GASB68 Non-Cash Adjustments Operating and Capital Budget –Summary Statement Fiscal Year 2021 13 | P a g e As presented in Table 9A, operating expenses, excluding payroll and depreciation expense, is budgeted at $24.2M in FY2021; 25% ($4.8M) higher when compared to the estimated expenses of $19.4M for FY2020. Table 9B provides a comparative breakdown of operating expenses by major expense categories. For FY2021, core expenditures are expected to change across the following expenditure categories compared to FY2020 estimates (See Schedule 4): • Maintenance costs are expected to increase by $23K (↑1%). • Materials, Supplies Other Services are expected to increase by $2.1M (↑37%). • Insurance cost are expected to increase by $1.1M (↑21%). • Utilities cost is anticipated to increase by $738K (↑15%). • Other Operating Expenses is expected to increase by $702K (174%). Table 9A: Summary of Operating Expenses, Excl. Personnel & Depreciation (In $1,000's)  FY 21 Bdgt FY 20 Est FY 19 Est FY 18 Act FY 17 Act FY 16 Act Aviation $11,562 $9,746 $11,541 $10,955 $9,314 $7,727 Marine 7,948 7,305 7,106 7,549 5,927 6,790 Admin & General 4,648 2,390 3,052 9,918 3,317 3,360 Combined $24,158 $19,441 $21,699 $28,422 $18,558 $17,877 Table 9B: Summary of Operating Expenses by Major Line Items (In $1,000's) FY 21 Bdgt FY 20 Est FY 19 Est FY 18 Act FY 17 Act FY 16 Act Repairs & Maintenance $3,095 $3,072 $3,321 $3,881 $2,728 $2,610 Materials, Supplies & Other Services 7,951 5,808 6,467 14,068 5,555 6,103 Insurance 6,326 5,215 4,630 3,409 2,567 2,679 Utilities 5,681 4,943 6,708 5,320 5,667 5,174 Other Operating Expenses 1,105 403 573 1,744 2,041 1,311 Total $24,158 $19,441 $21,699 $28,422 $18,558 $17,877 Principal Interest Total Marine Revenue Bonds, Series A,B &C $2,835 $1,725 $4,560 Total Debt Service $2,835 $1,725 $4,560 Table 10: FY 2021 Debt Service Summary (In $1,000's) * Amount $29M, Interest 4.0%, Term 20 years Operating and Capital Budget –Summary Statement Fiscal Year 2021 14 | P a g e Table 10 summarizes the debt service which includes Marine Bond debt service principal and insurance combined of $2.8M and interest of $1.7M for a total debt service of $4.6M. Capital Budget Summary The FY2021 capital budget is outlined in the FY2021 Capital Budget Project Listing (See Schedule 7). As delineated in Table 11, the capital budget totals $90.8M of which $44.3M is for Aviation Division capital, $46M for Marine Division capital and $562K for Administration and General. The Vehicles budget of $3.3M are mainly consisted of critical operational vehicles in the aviation sector such as 2 new fire trucks for the airport firefighter divisions, both in St Thomas and St Croix, which will be reimbursed by the CARES Act. Office Improvements & Equipment of $568K included much needed tools and technical IT equipment for operations. The bulk of the capital budget, totaling $87M is for major upgrades and expansion to aviation facilities ($41M) and marine facilities ($46M). Aviation Marine A&G Total Vehicles -Utilities & Light Trucks $3,194 $0 $109 $3,303 Office Improvements, Furniture & Equipment $115 $0 $453 $568 Facilities Upgrade & Expansion $40,962 $46,014 $0 $86,976 $44,271 $46,014 $562 $90,847 Table 11: Capital Budget Summary(In $1,000's)  Funding Source Aviation Marine A&G Total Net Operating Revenues** $4,983 $6,034 $562 $11,579 PFC Revenues** 4,898 0 0 $4,898 CFC Revenues** 700 0 0 $700 Total Internal Sources $10,581 $6,034 $562 $17,177 Capital Grants 33,690 31,170 0 $64,860 Debt Funded Marine Capital Projects 0 2,857 0 $2,857 Renewal & Replacement** 0 0 0 $0 Insurance Funds 0 2,335 0 $2,335 Government Grants 0 3,618 0 $3,618 Total Funding Sources $44,271 $46,014 $562 $90,847 Table 12: Capital Budget Summary by Funding Source ($1,000's)  ** Includes Cash on Hand (from prior years' revenues) Operating and Capital Budget –Summary Statement Fiscal Year 2021 15 | P a g e Table 12 summarizes the sources of funding for the capital expenditure budget. In total, the Authority’s FY2021 capital program is funded by $17.2M from internal sources, $64.9M from capital grants, $2.9M from bond proceeds, insurance funds of $2.3M and $3.6M from government grants (PFA). The internal sources are comprised of $11.6M from operating revenues and $4.9M in Passenger Facility Charges (PFC) and $700K in Car Rental Facility Charges (CFC). The Aviation Division capital budget is financed by $5M from operating revenues; approximately $4.9M from PFC revenues; $700 in CFC revenues and $33.7M from capital grants. The Marine Division’s capital budget is funded by $6M from operating revenues; $31.2M from capital grants, $2.9M from bond proceeds, insurance funds of $2.3M and $3.6M from government grants (PFA). Cash Flow Budget Summary FY21 $ Bgt. Change Operating Cash Received $16,864 $21,328 $38,192 $64,725 -$26,533 Cash Used in Operating Activities -28,544 -26,464 -55,008 -56,713 $1,705 Net Cash from Operating Activities -$11,680 -$5,136 -$16,816 $8,012 -$24,828 Cash on Hand 0 6000 6,000 6,844 -$844 CARES ACT-Reimbursement 16,955 0 16,955 0 $16,955 Anticipated Marine Federal Subsidy 0 10,000 10,000 0 $10,000 Internal Cash Transfer –Unrestricted 0 0 0 500 -$500 Passenger Facility Charges 4,898 0 4,898 6,637 -$1,739 Customer Facility Charges 700 0 700 300 $400 Renewal & Replacement Fund 0 0 0 121 -$121 Internal Sources of Cash $10,873 $10,864 $21,737 $22,414 -$677 Capital Grant Contribution 33,690 31,170 64,860 83,275 -$18,415 Government Grants 0 3,618 3,618 500 $3,118 Insurance Funds 0 2,335 2,335 5,310 -$2,975 Loan Proceeds 0 2,857 2,857 7,591 -$4,734 Internal & External Sources of Cash $44,563 $50,844 $95,407 $119,090 -$23,683 Capital Expenditures Long Term Debt P&I -Existing & New 0 4,560 4,560 5,016 -$456 Capital Acquisition - Admin and Gen. Allocation 292 270 562 619 -$57 Capital Acquisition -Revenue Funded 4,983 6,034 11,017 10,021 $996 Capital Acquisition -PFC Funded 4,898 0 4,898 6,637 -$1,739 Capital Acquisition -CFC Funded 700 0 700 0 $700 Capital Acquisition -Grant Funded 33,690 31,170 64,860 83,275 -$18,415 Capital Acquisition -Debt Funded 0 2,857 2,857 7,591 -$4,734 Capital Acquisition -Renewal & Replacement 0 0 0 121 -$121 Capital Acquisition -Insurance Funds 0 2,335 2,335 5,310 -$2,975 Capital Acquisition -Government Grant 0 3618 3,618 500 $3,118 Transfers -Renewal & Replacement Fund 0 0 0 0 $0 Total Uses of Cash $44,563 $50,844 $95,407 $119,090 -$23,683 FY20 Bgt. FY 21 Summary Cash Flow Statement (In $1,000's) Sources: Aviation Marine Operating and Capital Budget –Summary Statement Fiscal Year 2021 16 | P a g e Table 13 summarizes the sources and uses of cash thereby indicating how the operating expense, debt service, capital budgets and cash reserves are going to be financed (paid for) in FY2021. For VIPA, the major budgeted sources of cash are: $38.2M from operating revenues (funding the $55M in operating expenses); in addition to $6M from Cash on Hand (unrestricted); $17M in CARES Act reimbursements; $10M anticipated marine federal subsidy; $4.9M from passenger facilities charges (PFC) and $700K from Customer Facility Charges (CFC) for a total of $21.7M from internal sources. External sources of cash consist of $64.9M from capital grant contributions, $3.6M from government grants, $2.3M from insurance funds and $2.9M from loan proceeds, for a grand total of $95.4M (internal and external sources of cash). This cash flow will finance $55M in operating expenses; $4.6M in principal and interest on long term debt; $562K in admin and general capital projects; $11M in revenue funded capital projects; $4.9M in PFC projects; $700K in CFC projects; $64.9M in federally funded projects; $2.9M in debt financed marine projects; additional capital costs of $2.3M needed from insurance funds and $3.6M in government grants. END OF SUMMARY STATEMENT American Assocation of Port Authorities. (2020, August 19). aapa-ports.org. Retrieved from https://www.aapa-ports.org/advocating/PRdetail.aspx?itemnumber=22606 American Association of Port Authorities. (2020, August 19). aapa-ports.org. Retrieved from https://www.aapa-ports.org/advocating/PRdetail.aspx?itemnumber=22606 Center for Disease Control and Prevention. (2020, August 19). cdc.gov. Retrieved from https://www.cdc.gov/media/releases/2020/s0716-cruise-ship-no-sail-order.html Centers for Disease Control and Prevention. (2020, August 19). Retrieved from cdc.gov: https://www.cdc.gov/media/releases/2020/s0409-modifications-extension-no-sail-ships.html Centers for Disease Control and Prevention. (2020, August 06). https://www.cdc.gov/. Retrieved from https://wwwnc.cdc.gov/travel/notices/warning/coronavirus-usvirgin-islands Cruise Lines International Association. (2020, August 19). cruising.org. Retrieved from https://cruising.org/en/news-and-research/press-room/2020/june/clia-announces-voluntary- suspension-of-cruise-operations-from-us-ports Cruise Lines International Association. (2020, August 13). https://cruising.org/en/cruise-industry-covid- 19-facts-and-resources. Retrieved from https://cruising.org/-/media/Facts-and- Resources/Cruise-Industry-COVID-19-FAQs_August-13-2020 Operating and Capital Budget –Summary Statement Fiscal Year 2021 17 | P a g e Government of the United States Virgins Islands. (2020, August 19). vi.gov/covid. Retrieved from OFFICE OF GOVERNOR ALBERT BRYAN JR.: https://www.vi.gov/covid/news-post/governor-bryan- initiates-open-doors-phase-of-territorys-reopening-from-covid-19/ Government of the United States Virgins Islands. (2020, August 19). vi.gov/covid. Retrieved from OFFICE OF GOVERNOR ALBERT BRYAN JR.: https://www.vi.gov/covid/news-post/governor-bryan- orders-return-to-stay-at-home-status-in-response-to-continuing-spread-of-covid-19/ Operating Revenues Lin Aviation Marine Admin & Gen FY 2021 Operating Revenues and Expenses Aviation Marine Support Combined 1 Aviation 16,863,783 $ 16,863,783 $ 2 Marine 21,328,258 $ 21,328,258 3 Total Operating Revenues 16,863,783 $ 21,328,258 $ - $ 38,192,041 $ Operating Expenses 4 Payroll Expenses 7,192,813 9,110,891 14,545,661 30,849,365 $ 5 Maintenance Expenses 1,892,250 599,000 603,400 3,094,650 6 Materials & Supplies 673,800 417,000 669,000 1,759,800 7 Utilities 3,892,400 1,230,000 559,000 5,681,400 8 Professional & Other Services 1,784,000 2,500,000 1,907,500 6,191,500 9 Travel & Other Expenses 219,000 76,000 517,980 812,980 10 Insurance 2,997,948 3,025,771 302,189 6,325,908 11 Depreciation Expense 12,667,792 5,800,746 675,717 19,144,255 12 Depreciation Expense Allocated 466,245 209,472 (675,717) - 13 Other Expenses 103,000 100,500 88,500 292,000 14 Admin & Gen Allocation 9,788,547 9,404,683 (19,193,230) - 15 Total Operating Expenses 41,677,795 $ 32,474,063 $ - $ 74,151,858 $ 16 Operating Profit (Loss) (24,814,012) $ (11,145,805) $ - $ (35,959,817) $ Operating Profit (Loss) (Excluding Deprec.) (11,679,975) $ (5,135,587) $ - $ (16,815,562) $ Non-operating Revenues (Expenses) 17 Passenger Facilities Charges (PFC) 1,350,000 $ - - 1,350,000 $ 18 Customer Facilities Charges (CFC) 180,000 - - 180,000 19 Other Income - - - - 20 Interest Expense - (1,725,250) - (1,725,250) 21 Non-operating Revenues (Expenses), net 1,530,000 $ 1,725,250 -$ - $ 195,250 -$ 22 Capital Grant Contributions 33,690,333 31,170,100 - 64,860,433 23 Anticipated Federal Subsidy - 10,000,000 - 10,000,000 24 CARES Act Reimbursement 16,955,009 - - 16,955,009 25 Insurance Funds - 2,335,000 - 2,335,000 26 Government Grants - 3,618,180 - 3,618,180 27 Change in Net Assets 27,361,330 $ 34,252,225 $ - $ 61,613,555 $ Virgin Islands Port Authority Statement of Revenues, Expenses and Change in Net Assets (by Division) For the Fiscal Year Ended September 30, 2021 Schedule 1A Aviation 16,863,783 $ Marine 21,328,258 Total Operating Revenues 38,192,041 $ Operating Expenses Payroll Expenses 30,849,365 $ Maintenance Expenses 3,094,650 Materials & Supplies 1,759,800 Utilities 5,681,400 Professional & Other Services 6,191,500 Travel & Other Expenses 812,980 Insurance 6,325,908 Depreciation Expense 19,144,255 Depreciation Expense Allocated - Other Expenses 292,000 Admin & Gen Allocation - Total Operating Expenses 74,151,858 $ Operating Profit (Loss) (35,959,817) $ Non-operating Revenues (Expenses) Passenger Facilities Charges (PFC) 1,350,000 $ Customer Facilities Charges (CFC) 180,000 Other Income - Interest Expense 1,725,250 - Non-operating Revenues (Expenses), net (195,250) $ Capital Grant Contributions 64,860,433 Anticipated Federal Subsidy 10,000,000 CARES Act Reimbursement 16,955,009 Insurance Funds 2,335,000 Government Grants 3,618,180 Change in Net Assets 61,613,555 $ For the Fiscal Year Ended September 30, 2021 Virgin Islands Port Authority Statement of Revenues, Expenses and Change in Net Assets (Combined) Schedule 1B Cash Flow Aviation Marine Admin & Gen Combined Internal Cash Sources: Operating Revenues 16,863,783 $ 21,328,258 $ - $ 38,192,041 $ Operating Expenses Excl. Depreciation (28,543,758) (26,463,845) - (55,007,603) Net Cash From Operating Revenue (11,679,975) $ (5,135,587) $ - $ (16,815,562) $ Long Term Debt P & I - (4,560,250) - (4,560,250) Renewal & Replacement Reserve - - - - Revenue Available for Capital Expenditure (11,679,975) $ (9,695,837) $ - $ (21,375,812) $ Cash on Hand - 6,000,000 - 6,000,000 Anticipated Federal Subsidy - 10,000,000 - 10,000,000 CARES ACT-Reimbursement 16,955,009 - - 16,955,009 Internal Cash Transfer - - - - PFCs - New 1,350,000 - - 1,350,000 CFCs - New 180,000 - - 180,000 PFCs - Restricted Cash on Hand 3,547,967 - - 3,547,967 CFCs - Restricted Cash on Hand 520,000 - - 520,000 Available for Internally Funded Capital Budget 10,873,001 $ 6,304,163 $ - $ 17,177,164 $ Revenue Funded Capital Expenditure (4,982,586) (6,034,211) (11,016,797) PFC Funded Capital Expenditure (4,897,967) - - (4,897,967) CFC Funded Capital Expenditure (700,000) - - (700,000) Renewal and Replacement Capital Expenditure - - - - Admin & Gen Capital Budget Allocated (292,448) (269,952) - (562,400) Internal Cash Over (Short) - $ - $ - $ - $ External Cash Flow Capital Grant Contributions - New - 31,170,100 - 31,170,100 Capital Grant Contributions - FAA Approved 33,690,333 - - 33,690,333 Debt Funded Marine Projects - 2,856,989 - 2,856,989 Insurance Funds - 2,335,000 2,335,000 Government Grants - 3,618,180 - 3,618,180 External Cash Sources 33,690,333 $ 39,980,269 $ - $ 73,670,602 $ Grant Funded Capital Projects -New - (31,170,100) - (31,170,100) Grant Funded Capital Projects -FAA Approved (33,690,333) - - (33,690,333) Debt Funded Marine Capital Projects - (2,856,989) - (2,856,989) Insurance Funds (2,335,000) (2,335,000) Government Grants - (3,618,180) - (3,618,180) External Cash Over (Short) - $ - $ - $ - $ Virgin Islands Port Authority Statement of Cash Sources and Uses For the Fiscal Year Ended September 30, 2021 Schedule 2 VI Port Authority FY 2021 Budget Operating Expense Summary (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (l) (m) Lin C/C Employee Pmts[A] Severance Overtime Other Fringe Benefits Personnel Cost Maintenance Mat'l & Supplies Utilities Prof & Other Svce Travel & Other Insurance Other Total Operating 1 2962-1 Accounting STT 435,210 0 30,000 281,950 747,160 26,000 19,000 5,000 3,000 35,000 1,114 0 836,274 2 2962-2 Accounting STX 37,833 0 0 30,389 68,222 0 0 0 0 0 0 0 68,222 3 2961-1 Admin & Finance STT 239,454 0 0 116,778 356,232 20,000 9,000 7,000 540,000 22,580 3,343 80,000 1,038,155 4 2961-2 Admin & Finance STX 0 0 0 0 0 0 0 0 0 0 0 0 0 5 5167-1 ARFF STT 804,155 0 70,000 589,990 1,464,145 189,250 83,000 80,000 196,000 90,000 69,059 0 2,171,454 6 5167-2 ARFF STX 690,111 0 90,000 474,771 1,254,882 113,000 162,000 60,000 152,000 90,000 23,905 0 1,855,787 7 5161-1 Aviation STT 1,593,986 90,000 50,000 772,596 2,506,582 850,000 256,000 2,500,000 1,000,000 16,000 1,914,859 100,000 9,143,441 8 5161-2 Aviation STX 767,525 0 11,000 585,345 1,363,870 640,000 115,000 1,250,000 400,000 15,000 930,901 3,000 4,717,771 9 5461-1 Bournefield 0 0 0 0 0 20,000 0 0 21,000 0 56,732 0 97,732 10 6167-1 Crown Bay 425,525 0 0 295,632 721,157 120,000 70,000 580,000 300,000 10,000 311,282 500 2,112,939 11 3961-1 Engineering STT 514,126 0 0 208,603 722,729 14,000 32,000 12,000 31,500 20,000 7,451 0 839,680 12 3961-2 Engineering STX 287,200 0 0 126,399 413,599 15,000 15,000 11,000 5,000 15,000 4,224 0 478,823 13 1961-1 Executive STT 647,178 0 0 285,658 932,836 45,000 35,000 380,000 480,000 76,000 57,704 8,500 2,015,040 14 1961-2 Executive STX 186,736 0 0 70,606 257,342 22,000 15,000 31,000 27,000 27,000 8,565 0 387,907 15 1969-1 Gov Board 79,530 0 0 32,393 111,923 0 10,000 0 86,000 85,000 8,915 0 301,838 16 1963-1 Human Resources STT 178,339 70,000 0 104,851 353,190 6,000 26,000 2,500 32,000 30,000 4,341 0 454,031 17 1963-2 Human Resources STX 41,385 0 0 31,532 72,917 0 0 0 0 0 0 0 72,917 18 2964-1 IT 189,548 0 0 101,430 290,978 200,000 27,000 17,000 235,000 36,000 2,112 0 808,090 19 1962-1 Legal 315,076 0 0 114,906 429,982 3,000 15,000 5,000 40,000 32,000 3,343 0 528,325 20 3964-1 Maintenance STT 1,207,031 0 100,000 905,497 2,212,528 70,000 80,000 28,000 31,000 20,000 41,697 0 2,483,225 21 3964-2 Maintenance STX 815,574 0 25,000 590,290 1,430,864 70,000 65,000 22,000 45,000 20,000 26,517 0 1,679,381 22 6161-1 Marine STT 3,056,737 90,000 1,000,000 1,668,957 5,815,694 309,000 287,000 400,000 1,500,000 43,000 1,768,471 100,000 10,223,165 23 6161-2 Marine STX 1,438,478 0 430,000 705,562 2,574,040 170,000 60,000 250,000 700,000 23,000 946,018 0 4,723,058 24 5168-1 Parking Lot STT 174,682 0 13,000 123,822 311,504 35,000 45,000 1,200 10,000 5,000 1,230 0 408,934 25 5168-2 Parking Lot STX 156,160 0 10,000 125,670 291,830 45,000 12,800 1,200 5,000 3,000 1,261 0 360,091 26 1966-1 Police STT 1,321,205 0 70,000 975,842 2,367,047 32,000 150,000 9,000 90,000 27,000 65,995 0 2,741,042 27 1966-2 Police STX 832,175 0 60,000 532,548 1,424,723 31,000 50,000 5,500 25,000 10,000 38,952 0 1,585,175 28 4961-1 Property Management STT 207,713 0 0 99,095 306,808 5,000 5,000 4,000 18,000 13,000 4,224 0 356,032 29 4961-2 Property Management STX 123,775 0 0 74,547 198,322 1,000 2,000 3,000 6,000 7,000 2,112 0 219,434 30 1964-1 Public Relations 117,427 0 0 73,131 190,558 4,000 8,000 4,000 130,000 10,000 1,114 0 347,672 31 2963-1 Purchasing STT 221,677 0 0 142,560 364,237 11,400 10,000 5,000 27,000 11,400 7,167 0 436,204 32 2963-2 Purchasing STX 161,831 0 0 116,402 278,233 14,000 13,000 6,000 12,000 2,000 13,297 0 338,530 33 1967-1 Safety & Security STT 348,447 0 18,000 288,998 655,445 10,000 65,000 2,000 9,000 7,000 0 0 748,445 34 1967-2 Safety & Security STX 191,662 0 5,000 163,124 359,786 4,000 18,000 0 35,000 12,000 0 0 428,786 35 36 Total Operating Expenses 17,807,491 250,000 1,982,000 10,809,874 30,849,365 3,094,650 1,759,800 5,681,400 6,191,500 812,980 6,325,908 292,000 55,007,603 37 Aviation 4,186,619 90,000 244,000 2,672,194 7,192,813 1,892,250 673,800 3,892,400 1,784,000 219,000 2,997,948 103,000 18,755,211 38 Marine 4,920,740 90,000 1,430,000 2,670,151 9,110,891 599,000 417,000 1,230,000 2,500,000 76,000 3,025,771 100,500 17,059,162 39 Admin & Gen 8,700,132 70,000 308,000 5,467,529 14,545,661 603,400 669,000 559,000 1,907,500 517,980 302,189 88,500 19,193,230 40 Total Operating Expenses 17,807,491 250,000 1,982,000 10,809,874 30,849,365 3,094,650 1,759,800 5,681,400 6,191,500 812,980 6,325,908 292,000 55,007,603 Schedule 3 VIPA FY2021 Budget 5-Year Revenue & Expense Summary Aviation FY2021 Bdgt FY2020 Est FY2019 Est FY2018 Act* FY2017 Act* FY2016 Act* User Fees & Charges 2,387,439 2,940,223 4,792,607 2,816,303 4,233,950 3,576,170 Rental Charges 5,083,508 5,919,162 4,995,091 4,972,896 6,649,393 6,823,823 Commission & Fees 9,392,836 11,997,449 20,482,162 8,770,719 13,768,459 14,273,536 Operating Revenues 16,863,783 20,856,834 30,269,860 16,559,918 24,651,802 24,673,529 Payroll, Taxes & Benefits 7,192,813 6,040,049 5,520,937 5,678,450 6,021,514 5,512,936 Maintenance 1,892,250 1,886,643 2,174,370 2,730,772 1,770,313 1,524,810 Materials & Supplies 673,800 366,156 540,877 413,335 405,630 415,232 Utilities 3,892,400 3,506,280 4,850,464 3,893,577 3,334,357 3,122,796 Professional & Other Services 1,784,000 1,397,115 1,630,025 1,480,438 1,190,454 1,376,584 Travel & Other 219,000 151,646 111,950 180,147 117,795 132,156 Insurance 2,997,948 2,437,819 2,154,402 1,538,767 1,129,757 1,190,656 Depreciation 12,667,792 10,787,217 10,680,757 10,986,940 12,820,628 10,707,836 Other Expense 103,000 0 78,750 718,401 1,365,559 -35,288 Operating Expenses 31,423,003 26,572,925 27,742,532 27,620,827 28,156,007 23,947,718 *Excludes GASB Pension and Medical Adjustment VIPA FY2021 Budget 5-Year Revenue & Expense Summary Marine FY2021 Bdgt FY2020 Est FY2019 Est FY2018 Act* FY2017 Act* FY2016 Act* Rental Charges 4,100,463 4,901,927 5,319,651 4,717,823 5,827,699 6,342,224 Commmission & Fees 1,149,146 772,773 265,080 146,788 394,614 638,721 Marine Fees 16,078,649 16,955,172 26,676,039 19,400,269 23,471,021 23,141,562 Operating Revenues 21,328,258 22,629,872 32,260,770 24,264,880 29,693,334 30,122,507 Payroll, Taxes & Benefits 9,110,891 8,172,650 7,790,722 7,293,942 7,602,561 7,100,653 Maintenance 599,000 849,861 729,995 696,636 477,847 574,611 Materials & Supplies 417,000 336,029 382,488 525,204 365,050 341,542 Utilities 1,230,000 1,106,494 1,533,261 1,119,958 1,644,325 1,603,363 Professional & Other Services 2,500,000 2,473,812 2,191,572 3,247,314 2,086,245 2,180,896 Travel & Other 76,000 19,911 42,131 44,250 25,888 43,012 Insurance 3,025,771 2,494,003 2,211,359 1,632,797 1,213,002 1,256,282 Depreciation 5,800,746 6,204,819 6,326,955 4,813,761 7,534,371 6,236,868 Other Expense 100,500 24,945 15,096 282,458 114,336 789,929 Operating Expenses 22,859,908 21,682,524 21,223,579 19,656,320 21,063,625 20,127,154 *Excludes GASB Pension and Medical Adjustment Schedule 4 VIPA FY2021 Budget 5-Year Revenue & Expense Summary Support Services FY2021 Bdgt FY2020 Est FY2019 Est FY2018 Act* FY2017 Act* FY2016 Act* User Fees & Charges Rental Charges Other Revenues Operating Revenues Payroll, Taxes & Benefits 14,545,661 13,338,665 11,829,389 11,239,235 12,528,114 11,605,086 Maintenance 603,400 334,863 416,440 453,438 480,330 511,056 Materials & Supplies 669,000 327,216 411,651 441,972 320,290 298,029 Utilities 559,000 330,278 323,999 306,349 688,099 448,004 Professional & Other Services 1,907,500 907,899 1,310,204 7,959,943 1,186,871 1,490,473 Travel & Other 517,980 206,877 325,329 405,251 330,733 289,120 Insurance 302,189 282,795 263,888 237,541 224,286 232,113 Depreciation 675,717 709,488 749,028 483,825 693,920 642,790 Other Expense 88,500 0 0 113,590 85,897 90,966 Operating Expenses 19,868,947 16,438,081 15,629,928 21,641,144 16,538,540 15,607,637 *Excludes GASB Pension and Medical Adjustment VIPA FY2021 Budget 5-Year Revenue & Expense Summary All Divisions FY2021 Bdgt FY2020 Est FY2019 Est FY2018 Act* FY2017 Act* FY2016 Act* Aviation 16,863,783 20,856,834 30,269,860 16,559,918 24,651,802 24,673,529 Marine 21,328,258 22,629,872 32,260,770 24,264,880 29,693,334 30,122,507 Operating Revenues 38,192,041 43,486,706 62,530,630 40,824,798 54,345,136 54,796,036 Payroll, Taxes & Benefits 30,849,365 27,551,364 25,141,048 24,211,627 26,152,189 24,218,675 Maintenance 3,094,650 3,071,367 3,320,805 3,880,846 2,728,490 2,610,477 Materials & Supplies 1,759,800 1,029,401 1,335,016 1,380,511 1,090,970 1,054,802 Utilities 5,681,400 4,943,052 6,707,724 5,319,884 5,666,781 5,174,163 Professional & Other Services 6,191,500 4,778,826 5,131,801 12,687,695 4,463,570 5,047,952 Travel & Other 812,980 378,434 479,410 629,648 474,416 464,288 Insurance 6,325,908 5,214,617 4,629,649 3,409,105 2,567,045 2,679,050 Depreciation 19,144,255 17,701,524 17,756,740 16,284,526 21,048,919 17,587,494 Other Expense 292,000 24,945 93,846 1,114,449 1,565,792 845,607 Operating Expenses 74,151,858 64,693,530 64,596,039 68,918,291 65,758,172 59,682,508 Schedule 4 Excludes GASB Pension and Medical Adjustment Virgin Islands Port Authority Aviation Revenue Detail For Fiscal Years Ending September 30th 2021 Budget 2020 Estimate 2019 Estimate 2018 Actuals 2017 Actuals 2016 Actuals ST. THOMAS Landing Fees 1,807,163 $ 2,338,833 $ 3,616,945 $ 1,895,662 $ 3,394,950 $ 2,837,677 $ Rental Income Terminal Building/Cargo 3,475,340 3,442,270 3,433,122 3,512,465 4,631,771 4,512,360 Airfield 14,400 14,400 14,400 14,400 13,200 1,823 Bournefield 144,300 144,300 144,300 120,075 144,875 162,125 Non-Aeronautical 418,551 370,455 309,592 366,539 455,460 466,786 Terminal Use & Commissions Terminal Building/Cargo 6,501,407 9,168,180 14,127,911 4,696,486 10,080,011 10,316,602 Airfield 243,439 251,804 489,722 489,809 666,696 810,191 Non-Aeronautical 1,942 23,345 90,286 205,735 15,202 91,254 Operating Revenues 12,606,543 15,753,587 22,226,278 11,301,171 19,402,164 19,198,817 Passenger Facility Charges 1,350,000 2,154,000 2,337,000 1,380,000 2,836,000 2,883,000 Customer Facility Charges 180,000 300,000 455,000 315,000 485,000 462,000 FAA Grants 1/ 18,905,988 23,949,522 567,880 6,712,000 1,693,000 1,062,000 TOTAL - STT 33,042,531 $ 42,157,109 $ 25,586,158 $ 19,708,171 $ 24,416,164 $ 23,605,817 $ ST. CROIX Landing Fees 580,276 601,390 1,175,662 920,641 839,000 738,493 Rental Income Terminal Building/Cargo 856,036 828,744 936,269 802,265 1,230,263 1,499,934 Airfield 3,645 3,342 3,949 3,645 3,645 1,823 Non-Aeronautical 171,236 1,115,651 153,459 153,507 170,179 178,972 Terminal Use & Commissions Terminal Building/Cargo 2,646,048 2,552,628 5,720,295 3,378,689 2,987,461 3,055,461 Airfield - - 53,948 - 19,089 28 Non-Aeronautical - 1,492 - - - - Operating Revenues 4,257,241 5,103,248 8,043,581 5,258,748 5,249,637 5,474,711 Passenger Facility Charges - - - - 4,000 505,000 Customer Facility Charges - - - - - - FAA Grants 1/ 14,784,345 6,858,495 912,786 968,000 8,124,000 3,939,000 TOTAL - STX 19,041,586 $ 11,961,743 $ 8,956,367 $ 6,226,748 $ 13,377,637 $ 9,918,711 $ Total Operating Revenues 16,863,784 $ 20,856,835 $ 30,269,859 $ 16,559,919 $ 24,651,801 $ 24,673,528 $ Other Revenues - $ - $ - $ - $ - $ - $ Total Grants & Other Charges 35,220,333 $ 33,262,017 $ 4,272,666 $ 9,375,000 $ 13,142,000 $ 8,851,000 $ COMBINED TOTAL 52,084,117 $ 54,118,852 $ 34,542,525 $ 25,934,919 $ 37,793,801 $ 33,524,528 $ 1/ FAA Grant projection includes only Entitlements, not Discretionary VI Port Authority Aviation Division Revenue Summary FY 2021 Budget FY 2021 Budg FY 2020 Est. FY 2019 Est FY 2018 Act FY 2017 Act FY 2016 Act Aircraft Fees 2,387,439 $ 2,940,224 $ 4,792,606 $ 2,816,303 $ 4,233,949 $ 3,576,170 $ Rental Income 5,083,508 5,919,162 4,995,091 4,972,897 6,649,394 6,823,822 Commissions & Fees 9,392,837 11,997,450 20,482,162 8,770,719 13,768,458 14,273,536 Operating Revenues 16,863,784 20,856,835 30,269,859 16,559,919 24,651,801 24,673,528 Other Revenue 0 0 0 0 0 0 Passenger Facility Charge 1,350,000 2,154,000 2,337,000 1,380,000 2,840,000 3,388,000 Customer Facility Charges 180,000 300,000 455,000 315,000 485,000 462,000 FAA Grants -Entitlements 33,690,333 30,808,017 1,480,666 7,680,000 9,817,000 5,001,000 FAA Grants -Discretionary 0 0 0 0 0 0 52,084,117 54,118,852 34,542,525 25,934,919 37,793,801 33,524,528 Schedule 5 VI Port Authority Marine Revenue Detail Fiscal Year Ending September 30th 2021 Budget 2020 Projections 2019 Actuals 2018 Actuals 2017 Actuals 2016 Actuals St.Thomas/St. John Rental Income Crown Bay & Sandfill 1,955,966 1,897,269 1,674,344 1,365,081 1,535,493 1,647,989 Crown Bay Dock 898,511 1,812,803 2,410,910 2,205,172 2,822,991 3,189,306 Red Hook Terminal 180,254 179,629 173,263 140,671 164,244 169,458 Other 757,519 702,513 734,116 704,724 749,698 784,567 Total Rental Income STT/STJ 3,792,251 4,592,214 4,992,633 4,415,648 5,272,426 5,791,319 Commission & Concession Fees Red Hook Terminal 589,700 696,069 140,350 13,077 184,695 443,831 Other 559,446 75,255 121,023 131,296 205,304 185,296 Total Commission & Concesssion Fees STTSTJ 1,149,146 771,324 261,373 144,373 389,999 629,127 Marine Fees & Dues Pilotage 452,914 763,011 600,285 386,221 336,607 388,989 Ship Dues Tonnage 845,469 794,901 1,127,292 825,142 793,135 833,318 Car Ferry Fees 354,977 410,400 477,350 419,107 498,863 554,512 Ferry Passenger Fees 5,255,924 5,711,470 10,770,098 7,342,139 8,966,076 10,138,906 Ship Dues & Fees 265,181 249,904 353,100 199,970 555,284 560,498 Docking Fees 1,308,710 1,467,242 1,752,663 1,373,412 1,817,835 1,270,799 Passenger Wharfage 4,804,463 3,929,734 6,523,892 5,129,812 6,708,145 5,630,306 Marine Terminal Tax 489,551 865,231 1,631,837 1,112,638 1,497,410 1,769,210 Crown Bay Terminal User Fee 0 0 0 0 0 0 Total Marine Fees & Dues STT/STJ 13,777,188 14,191,892 23,236,518 16,788,439 21,173,355 21,146,538 Bond Financing 18,000,000 PFA 900,000 TOTAL STT/STJ 18,718,585 19,555,429 28,490,523 21,348,461 26,835,780 27,566,984 St. Croix Rental Income STX KrauseLagoon Container Port 217,654 217,654 236,459 215,867 448,269 471,636 Other 90,559 92,059 90,559 86,308 107,004 79,268 Total Rental Income STX 308,214 309,714 327,018 302,175 555,272 550,904 Total Commission & Concession Fees STX 0 1,449 3,707 2,415 4,615 9,594 Marine Fees & Dues Pilotage 282,181 460,653 376,387 267,943 292,442 286,476 Ship DuesTonnage 531,706 574,284 708,941 471,964 455,103 487,226 Car Ferry Fees 0 0 0 900 20 144 Ferry Passenger Fees 6,655 93,566 192,668 138,040 128,645 0 Ship Dues & Fees 1,048,367 1,112,348 1,397,822 986,648 945,363 963,530 Docking Fees 317,421 360,678 423,228 526,712 277,217 198,103 Passenger Wharfage 60,160 97,385 200,532 143,675 133,895 0 Crane Rental Fees 54,970 54,970 54,970 53,443 52,352 52,352 Other 0 9,395 84,974 22,503 12,629 7,193 Total Marine Fees & Dues STX 2,301,459 2,763,277 3,439,523 2,611,828 2,297,666 1,995,023 Bond Financing 13,170,100 PFA 2,718,180 - TOTAL ST.CROIX 2,609,673 3,074,439 3,770,248 2,916,418 2,857,554 2,555,521 Total Operating Revenues 21,328,258 22,629,868 32,260,771 24,264,879 29,693,334 30,122,505 Total Grants & other revenues 34,788,280 $ - $ - $ - $ - $ - $ COMBINED TOTAL 56,116,538 22,629,868 32,260,771 24,264,879 29,693,334 30,122,505 Marine Revenue Summary ($1,000's) 2021 Budget 2020 Projections 2019 Actuals 2018 Actuals 2017 Actuals 2016 Actuals Rental Income 4,100,464 4,901,928 5,319,651 4,717,823 5,827,698 6,342,223 Commission & Concession Fees 1,149,146 772,773 265,080 146,788 394,614 638,721 Marine Fees & Dues 16,078,647 16,955,168 26,676,041 19,400,267 23,471,022 23,141,561 Revenue Increase 0 0 0 0 0 0 Total 21,328,258 22,629,868 32,260,771 24,264,879 29,693,334 30,122,505 Schedule 6 Vehicle Major Equip / FacIlities Upgrade Furniture, Fixtures & Equipment Total Operating Revenue Insurance Renewal and Replacem ent Fund PFC Revenue CFC Revenue PFA Grants Bond Financing Total ARFF STX (6) LAPTOP WITH INPUT ACCESSORIES 6,500 6,500 6,500 6,500 OFFICE FURNITURE 1,200 1,200 1,200 1,200 GYM EQUIPMENT 5,000 5,000 5,000 5,000 FORD F-250 HEAVY DUTY CREW CAB 4X4 PICKUP 65,000 65,000 65,000 65,000 PROXIMITY GEARS PERSONAL PROTECTIVE EQUIPMENT (PPE) 30,000 30,000 30,000 30,000 RADIOS FOR ARFF DEPT. , ARFF UNITS AND PERSONNEL 30000 30,000 30,000 30,000 Sub Total - ARFF STX 125,000 0 12,700 137,700 137,700 0 0 0 0 0 0 0 137,700 Aviation STT RADIO COMMUNICATIONS 20,000 20,000 20,000 20,000 FORD RANGER-CUSTODIAL 45,000 45,000 45,000 45,000 FORD ESCAPE-AIRPORT OPS. MANAGER 35,000 35,000 35,000 35,000 FORD RANGER-AIRPORT OPS. 45,000 45,000 45,000 45,000 BOOM MOWER (TIGER CORPORATION -SABER 30) 250,000 250,000 250,000 250,000 TRIPLE FLAIL MOWER (TIGER CORPORATION - SUPER DUTY TRIPLE FLAIL MOWER) 180,000 180,000 180,000 180,000 RELOCATION OF RWY 10 SUPPLEMENTAL WINDSOCK 20,000 20,000 20,000 20,000 Contingency 50,000 50,000 50,000 50,000 CIP- FIRE SPRINKLER CONSTRUCTION 2,497,967 2,497,967 2,497,967 2,497,967 CIP-Gate 5 Reconstruction 3,686,530 3,686,530 368,653 3,317,877 3,686,530 CIP-Runway Safety Area 1,666,667 1,666,667 166,667 1,500,000 1,666,667 CIP-Airfield Pavement Maintenance & Management Program 250,000 250,000 25,000 225,000 250,000 CIP-CEKA Terminal Transportation Center 12,000,000 12,000,000 2,400,000 700,000 8,900,000 12,000,000 CIP-CEKA Third Taxiway Bridge - Enviromental Assessment Phase 2 80,000 80,000 80,000 80,000 CIP-Standard Aviation Monitoring Wells and Ground Water Sampling 40,000 40,000 40,000 40,000 CIP-Commercial Apron Phase 1 Construction 4,334,916 4,334,916 - 4,334,916 4,334,916 CIP-Commuter Bag Belt Design 280,000 280,000 28,000 252,000 280,000 CIP-Commercial Apron Phase 2 Design 376,195 376,195 376,195 376,195 CIP-Gut Clearing 350,000 350,000 350,000 - 350,000 CIP-Total Fuel Farm Shoreline Erosion Control Stabilization - Design Only 85,000 85,000 85,000 85,000 CIP-Purchase of Fire Truck 1250000 - 1,250,000 1,250,000 - 1,250,000 Sub Total - Aviation STT 1,805,000 25,717,275 20,000 27,542,275 3,038,320 0 0 4,897,967 700,000 0 18,905,988 0 27,542,275 Capital Expenditure Type Funding Source Schedule 7 Vehicle Major Equip / FacIlities Upgrade Furniture, Fixtures & Equipment Total Operating Revenue Insurance Renewal and Replacem ent Fund PFC Revenue CFC Revenue PFA Grants Bond Financing Total Capital Expenditure Type Funding Source Aviation STX Conference Room Table 12,000 12,000 12,000 12,000 Curbside Benches and Waste Receptacles 4,000 4,000 4,000 4,000 2020 Chevrolet Colorado Crew Cab 34,445 34,445 34,445 34,445 Contingency 50,000 50,000 50,000 50,000 REAR MOUNT CUTTING FLAIL 13,946 13,946 13,946 13,946 CIP-Passenger Charge Planning Support for HERA 30,000 30,000 30,000 30,000 CIP-Airfield Security Fence 250,000 250,000 25,000 225,000 250,000 CIP-Runway 10-28 Lighting and Shoulder Construction and Airfield Electrical and Vault Improvements (Design Only) 9,153,921 9,153,921 9,153,921 9,153,921 CIP-HERA Terminal Expansion - Phase 1 5,412,199 5,412,199 320,245 5,091,954 5,412,199 CIP-Purchase of Fire Truck 1,250,000 1,250,000 1,250,000 - 1,250,000 CIP-Generator Building 348,300 348,300 34,830 313,470 348,300 - - Sub Total - Aviation STX 1,263,946 15,244,420 50,445 16,558,811 1,774,466 0 0 0 0 0 14,784,345 0 16,558,811 IT Payment Portal and revenue collection System 15,000 15,000 15,000 15,000 Phone sytems upgrades 78,000 78,000 78,000 78,000 Computer update and replacement 135,000 135,000 135,000 135,000 PA systems at all VIPA ports 200,000 200,000 200,000 200,000 Sub Total - IT 0 0 428,000 428,000 428,000 0 0 0 0 0 0 0 428,000 Maintenance STT CAT. BACKHOE SERVICES 25,000 25,000 25,000 25,000 Sub Total - Maintenance STT 0 0 25,000 25,000 25,000 0 0 0 0 0 0 0 25,000 Marine STT/STJ CIP-Red Hook Customs Building (FIS) 4,250,000 4,250,000 2,534,536 1,715,464 4,250,000 CIP-Loredon Boynes Dock Terminal Improvements (Restroom and Awnings Only) 900,000 900,000 - 900,000.00 900,000 CIP-Dredging for Quatum Class and Notch Closure 5,100,000 5,100,000 100,000 5,000,000 5,100,000 CIP-Dredging of Channel and Turning Basin to Accommodate Oasis Class 13,100,000 13,100,000 100,000 13,000,000 13,100,000 Sub Total - Marine STT 0 23,350,000 0 23,350,000 2,734,536 0 0 0 0 900,000 18,000,000 1,715,464 23,350,000 Schedule 7 Vehicle Major Equip / FacIlities Upgrade Furniture, Fixtures & Equipment Total Operating Revenue Insurance Renewal and Replacem ent Fund PFC Revenue CFC Revenue PFA Grants Bond Financing Total Capital Expenditure Type Funding Source Marine STX CIP-Schooner Bay Channel Dredging (Construction) 8,641,525 8,641,525 500,000 7,000,000 1,141,525 8,641,525 Gordon Finch Molasses Pier 14,022,955 14,022,955 3,299,675 2,335,000 2,218,180 6,170,100 14,022,955 Sub Total - Marine STX 0 22,664,480 0 22,664,480 3,299,675 2,335,000 0 0 0 2,718,180 13,170,100 1,141,525 22,664,480 Parking Lot STT Replace chair for the parking lot attendants 2,500 2,500 2,500 2,500 Replace chair for the parking lot supervisor 1,000 1,000 1,000 1,000 Install rubber mating in each booth 3,000 3,000 3,000 3,000 Xerox Printer 2,400 2,400 2,400 2,400 Replace the desk top computer 2,400 2,400 2,400 2,400 Golf Cart 8,000 8,000 8,000 8,000 Sub Total - Parking Lot STX 0 0 19,300 19,300 19,300 0 0 0 0 0 0 0 19,300 Parking Lot STX Xerox Printer 2,400 2,400 2,400 2,400 Replace the desk top computer 2,400 2,400 2,400 2,400 Golf Cart 8,000 8,000 8,000 8,000 Sub Total - Parking Lot STX 0 0 12,800 12,800 12,800 0 0 0 0 0 0 0 12,800 Police STT FORD ESCAPE 54,700 54,700 54,700 54,700 FORD ESCAPE 54,700 54,700 54,700 54,700 Sub Total - Police STT 109,400 0 0 109,400 109,400 0 0 0 0 109,400 Grand Total 3,303,346 86,976,175 568,245 90,847,766 11,579,197 2,335,000 0 4,897,967 700,000 3,618,180 64,860,433 2,856,989 90,847,766 Summary Aviation 3,193,946 40,961,695 115,245 44,270,886 4,982,586 0 0 4,897,967 700,000 0 33,690,333 0 44,270,886 Marine 0 46,014,480 0 46,014,480 6,034,211 2,335,000 0 0 0 3,618,180 31,170,100 2,856,989 46,014,480 Admin & Gen 109,400 0 453,000 562,400 562,400 0 0 0 0 0 0 0 562,400 Total 3,303,346 86,976,175 568,245 90,847,766 11,579,197 2,335,000 0 4,897,967 700,000 3,618,180 64,860,433 2,856,989 90,847,766 3.64% 95.74% 0.63% 100.00% 12.75% 2.57% 0.00% 5.39% 0.77% 3.98% 71.39% 3.14% 100.00% STT/STJ Aviation 1,805,000 25,717,275 28,000 27,550,275 3,046,320 0 0 4,897,967 700,000 0 18,905,988 0 27,550,275 Marine 0 23,350,000 0 23,350,000 2,734,536 0 0 0 0 900,000 18,000,000 1,715,464 23,350,000 Admin & Gen 109,400 0 453,000 562,400 562,400 0 0 0 0 0 0 0 562,400 Total 1,914,400 49,067,275 481,000 51,462,675 6,343,256 0 0 4,897,967 700,000 900,000 36,905,988 1,715,464 51,462,675 57.95% 56.41% 84.65% 56.65% 54.78% 100.00% 100.00% 56.90% 60.04% 56.65% STX Aviation 1,388,946 15,244,420 75,945 16,709,311 1,924,966 0 0 0 0 0 14,784,345 0 16,709,311 Marine 0 22,664,480 0 22,664,480 3,299,675 2,335,000 0 0 0 2,718,180 13,170,100 1,141,525 22,664,480 Admin & Gen 0 0 0 0 0 0 0 0 0 0 0 0 0 Total 1,388,946 37,908,900 75,945 39,373,791 5,224,641 2,335,000 0 0 0 2,718,180 27,954,445 1,141,525 39,373,791 42.05% 43.59% 13.36% 43.34% 45.12% 0.00% 0.00% 43.10% 39.96% 43.34% Schedule 7 VI Port Authority Payroll Cost Summary Fiscal Years Ending September 30 Lin FY 2021 Bdgt FY 2020 Est FY 2019 Est FY 2018 Act FY 2017 Act FY 2016 Act 1 Aviation 2 Salaries and Wages 4,186,619 3,387,219 3,175,223 3,227,268 3,331,390 3,335,469 3 Retroactive & Severance 90,000 41,494 65,293 40,348 83,649 27,391 4 Overtime 244,000 238,338 312,268 276,983 277,546 199,946 5 Payments to Employees 4,520,619 3,667,051 3,552,784 3,544,599 3,692,585 3,562,806 6 FICA Taxes 280,090 280,013 271,187 274,511 281,720 271,009 7 Retirement Fund 843,555 781,782 591,507 688,678 626,663 658,335 8 Medical/Dental/Life Insurance 1,524,582 1,294,981 1,078,501 1,149,911 1,400,798 990,164 9 Workmen's Compensation 23,967 16,222 26,958 20,751 19,748 30,622 10 Total Aviation Payroll Expenses 7,192,813 6,040,049 5,520,937 5,678,450 6,021,514 5,512,936 12 Marine 13 Salaries and Wages 4,920,740 4,367,246 4,175,817 4,079,093 4,237,936 4,156,938 14 Retroactive & Severance 90,000 -1,856 32,413 69,237 81,099 30,293 15 Overtime 1,430,000 1,416,535 1,580,333 1,114,859 959,381 999,414 16 Payments to Employees 6,440,740 5,781,925 5,788,563 5,263,189 5,278,416 5,186,645 17 FICA Taxes 342,961 387,252 353,003 332,623 338,850 326,234 18 Retirement Fund 910,446 804,730 647,827 632,885 658,248 677,367 19 Medical/Dental/Life Insurance 1,395,414 1,167,636 975,625 1,045,458 1,308,633 883,365 20 Workmen's Compensation 21,330 31,107 25,704 19,787 18,414 27,042 21 Total Marine Payroll Expenses 9,110,891 8,172,650 7,790,722 7,293,942 7,602,561 7,100,653 23 Support Services 24 Salaries and Wages 8,700,132 7,779,638 7,035,762 6,505,225 6,608,736 6,998,738 25 Retroactive & Severance 70,000 175,066 251,034 179,880 379,525 131,647 26 Overtime 308,000 527,296 287,136 255,058 306,061 196,335 27 Payments to Employees 9,078,132 8,482,000 7,573,932 6,940,163 7,294,322 7,326,720 28 FICA Taxes 652,387 672,852 617,530 606,174 671,168 650,112 29 Retirement Fund 1,817,227 1,609,425 1,470,575 1,374,255 1,546,679 1,600,507 30 Medical/Dental/Life Insurance 2,953,344 2,500,332 2,099,170 2,273,131 2,974,682 1,969,134 31 Workmen's Compensation 44,571 74,056 68,182 45,512 41,263 58,613 Lump Sum 0 32 Total Support Payroll Expenses 14,545,661 13,338,665 11,829,389 11,239,235 12,528,114 11,605,086 34 36 Total VIPA Payroll Expenses 37 Salaries and Wages 17,807,491 15,534,103 14,386,802 13,811,586 14,178,062 14,491,145 38 Retroactive & Severance 250,000 214,704 348,740 289,465 544,273 189,331 39 Overtime 1,982,000 2,182,169 2,179,737 1,646,900 1,542,988 1,395,695 40 Payments to Employees 20,039,491 17,930,976 16,915,279 15,747,951 16,265,323 16,076,171 41 FICA Taxes 1,275,438 1,340,117 1,241,720 1,213,308 1,291,738 1,247,355 42 Retirement Fund 3,571,228 3,195,937 2,709,909 2,695,818 2,831,590 2,936,209 43 Medical/Dental/Life Insurance 5,873,340 4,962,949 4,153,296 4,468,500 5,684,113 3,842,663 44 Workmen's Compensation 89,868 121,385 120,844 86,050 79,425 116,277 Lump Sum 0 0 0 0 0 0 45 Total Expenses 30,849,365 27,551,364 25,141,048 24,211,627 26,152,189 24,218,675 Payroll Cost Summary ($1,000's) FY 2021 Bdgt FY 2020 Est FY 2019 Est FY 2018 Act FY 2017 Act FY 2016 Act Salaries & Wages 17,807 15,534 14,387 13,812 14,178 14,491 Overtime & Other Pay 2,232 2,397 2,528 1,936 2,087 1,585 Payments to Employees 20,039 17,931 16,915 15,748 16,265 16,076 FICA, Retirement & Wkrs Comp 4,937 4,657 4,072 3,995 4,203 4,300 Medical/Dental/Life Insurance 5,873 4,963 4,153 4,469 5,684 3,843 Lumpsum 0 0 0 0 0 0 Total Expenses 30,849 27,551 25,140 24,212 26,152 24,219 Schedule 8