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THE VIRGIN ISLANDS PORT AUTHORITY FISCAL YEAR 2022 OPERATING AND CAPITAL BUDGET SUMMARY STATEMENT Operating and Capital Budget –Summary Statement Fiscal Year 2022 2 | P a g e Table of Contents I. Introduction ......................................................................................................................................... 3 The Authority .......................................................................................................................................... 3 Recovery................................................................................................................................................... 3 FY2022 Budget in Overview .................................................................................................................. 6 The Numbers at a Glance ....................................................................................................................... 7 II. Forecast of U.S.V.I. Air and Cruise Passengers ............................................................................... 8 III. Strategic Goals and Initiatives ........................................................................................................... 9 IV. Budget Summaries ............................................................................................................................ 10 Operating Budget Summary ................................................................................................................ 10 Capital Budget Summary ..................................................................................................................... 14 Cash Flow Budget Summary ............................................................................................................... 15 APPENDICES -SCHEDULES 1-8 Operating and Capital Budget –Summary Statement Fiscal Year 2022 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, 2022 (the “FY2022 Budget”). The FY2022 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. II. Recovery The Virgin Islands Port Authority “VIPA” continues to serve as the gateway for the US Virgin Islands and is open for leisurely travel. Currently, the territory is in the “Safer-at-Home” phase of its state of emergency. Using the USVI Travel Screening Portal, potential travelers who plan to enter the U.S. Virgin Islands by air or sea must be cleared through the portal or passengers may not be able to board an aircraft or vessel. The Government of the Virgin Islands (GVI) also continues to support its community with vaccines that are readily available in the territory (Pfizer, Moderna, Johnson and Johnson) as well as Pfizer booster shots. In response to the Coronavirus Disease of 2019 (COVID-19), the GVI continues to carefully support operations and public health as the Virgin Islands remains open to all potential travelers. Fiscal Year 2020 brought with it challenges from the COVID-19 pandemic while VIPA was on the verge of a full recovery from the impact of the 2017 hurricanes, Maria and Irma. In Fiscal Year 2021, the aviation sector exceeded all budget expectations while the marine sector continued its cargo operations but suffered most of the fiscal year without support from the cruise industry. VIPA was able to sustain its operations using the Coronavirus Aid, Relief, and Operating and Capital Budget –Summary Statement Fiscal Year 2022 4 | P a g e Economic Security Act or CARES Act, existing marine cargo revenues, increased aviation traffic and unrestricted cash on hand. Future expectations of VIPA are optimistic with a renewed sense of recovery and resilience from the perils of the past for fiscal year 2022. Aviation While the economic effects of COVID-19 are still being felt in the marine sector, the aviation sector has rebounded well above pre-hurricane numbers. The U.S. Virgin Islands is capitalizing on being a U.S. Territory not subject to the restrictions imposed on international travel protocols. Over the last year, VIPA has recorded significant increases in monthly passenger counts for both Cyril E. King and Henry E. Rohlsen airports. Increased enplanement activity in the late second and third quarter of FY2021 reached well over 30% when compared to the last five fiscal years. In February, Frontier Airlines expanded its service through the Caribbean as it partnered with VIPA to offer its airlift services in and out of the USVI. The new resident airline added three new routes to and from the territory. Along with Frontier Airlines, VIPA’s current major airlift customers such as JetBlue, Spirit and United Airlines also added several brand-new routes to the territory. Despite COVID-19, the Virgin Islands Port Authority has also started and continued major capital projects that will significantly support aviation operations in the future. Under the direction of VIPA’s Executive Director, Carlton Dowe, in March FY2021, the authority started construction of the new Cyril E. King Airport Parking and Transportation Center in St. Thomas. The Parking and Transportation Center will have 600 parking spaces and a dedicated location for ground transportation and car rental operations. The $26.8 million project is funded via a $20M grant received from the US Department of Commerce-Economic Development Administration in 2019. VIPA will provide a $6.8 million local match (viport.com, 2021). VIPA has also continued its modernization and expansion of the Henry E. Rohlsen Airport Terminal in St. Croix (phase one). Phase one entails enclosing 5,500 square feet of walkway space to increase the seating capacity in the lounge; refurbishing the existing passenger lounge space and restrooms; enclosing the 1,100 square-foot open-air gardens with a new roof structure to provide additional concessions space and upgrading the mechanical systems for the additional air-conditioned areas. Phase one is estimated to cost $8.6 million and was funded via a $7 million grant from the US Department of Commerce- Economic Development Administration in 2019 with a local match of $1.6 million from the Government of the Virgin Islands’ St. Croix Capital Improvement Fund. The construction was anticipated to take 18 months and be completed in March 2022. However, the project is ahead of schedule and should be completed by October 2021 (viport.com, 2021). The Virgin Islands continues to increase its airlift passenger count with budget friendly airfare and an expanded Airbnb market which has exploded since the 2017 Hurricanes. Hotel and travel accommodations in the USVI continue to be restored, and are re-opening, providing Operating and Capital Budget –Summary Statement Fiscal Year 2022 5 | P a g e potential travelers with lodging despite COVID-19 and hurricane recovery issues. The aviation sector is expected to continue to increase airlift traffic for FY2022 as the territory stays on its pathway to a “new normal” from the COVID-19 pandemic. Marine The loss of cruise ships due to the CDC’s No Sail order hit VIPA’s Marine sector significantly hard in FY2020 and FY2021. Despite the severe losses in the cruise industry, VIPA has maintained significant increases in its marine rental and cargo division. In July FY2021, VIPA’s Board of Governors authorized Executive Director Carlton Dowe to approve a long-term lease agreement with both Tropical Shipping and Construction, Ltd. and Crowley Caribbean Services LLC. The lease agreements are for cargo operations at the Crown Bay Terminal Cargo Facility on St. Thomas and the Wilfred “Bomba” Allick Port and Transshipment Center (the Containerport) on St. Croix. The agreements will also include preferential operational arrangements in exchange for the companies’ financial investment to improve both ports. Tropical Shipping will also participate in financing the replacement of the deteriorated gantry crane at the Containerport that is used to unload the cargo off cargo ships at the port. The cost of the crane is approximately $20 million. VIPA recently received a $21 million grant from the US Department of Transportation-Maritime Division to expand and repair the Crown Bay Terminal Cargo Facility on St. Thomas. Both Tropical and Crowley will each provide $2.7 million to cover the local match required by the grant award (viport.com, 2021). VIPA’s marine cruise sector has been non-existent since March 2020. In FY2022, cruise industry prospects for VIPA are hopeful due to recent cruise arrivals starting in the early fourth quarter of FY2021. In June of FY2021, a public US Virgin Islands forum was held with executives from Royal Caribbean Group to announce solid plans to safely return to the U.S. Virgin Islands. Royal Caribbean projected approximately 213,000 guest passengers to visit from their vessels and $40 million in revenue for the territory by the end of calendar year 2021. As of September 1, 2021, in total, VIPA has counted more than 20,000 arriving cruise passengers since June of FY2021. On September 29, 2021, at Seatrade Cruise Global event held at the Miami Beach Convention Center, VIPA Executive Director Carlton Dowe and Royal Caribbean Group’s Vice President of Destination Development Joshua Carroll signed a Memorandum of Understanding (MOU). The MOU is a recommitment from Royal Caribbean Group to extend its existing 10- year, pier-use agreement for preferential berthing at VIPA’s cruise facilities in Crown Bay, St. Thomas and Frederiksted, St. Croix (viport.com. 2021). Operating and Capital Budget –Summary Statement Fiscal Year 2022 6 | P a g e Royal Caribbean Group have partnered to revitalize the U.S. Virgin Islands’ cruise industry with a commitment from Royal Caribbean Group to develop infrastructure and attractions. This partnership will enable growth to continue forward for VIPA’s marine sector. VIPA will align with Royal Caribbean Group to expand the Austin “Babe” Monsanto Marine Facility in Crown Bay to allow the berthing that includes Icon- and Quantum-class ships and the development of a third berth. The vision for the Crown Bay District will complement the Port Authority’s plans to revitalize the district to appeal to residents and cruise visitors. Royal Caribbean Group has also committed to partner with VIPA and the Government of the USVI to develop and enhance the overall visitor experience in St. Croix (viport.com, 2021). Cruise line coordinators are working closely with the USVI government to provide a safe and healthy visit for both passengers and local public as well. The territory has implemented specific marine protocols and signed transportation, housing and medical port agreements with the cruise lines. Specific safety measures such as mandatory vaccinations for 12 years and above and negative testing before arriving to cruise terminals are helping to keep the territory cruise friendly. FY2022 Budget in Overview In the aggregate, the FY2022 Budget anticipates operating expenses, excluding depreciation, of $64.6M, debt service cost of $4.6M and capital expenditures of $132.5M for a total outlay of $201.7M. These outlays are funded by $61.8M from current revenues (operating fees and charges), $12M from an anticipated government subsidy, $2.4M from passenger facility charges, $700K from car rental facility charges, $101M from capital grants, $5M from cash on hand, $7.1M from Coronavirus Aid, Relief, and Economic Security Act (CARES), $4.2M from the American Rescue FY2022 Bdgt. FY2021 Bdgt. FY2020 Un. FY2019 Act. FY2018 Act.* FY2017 Act.* Operating Expense[1] $64,602 $55,008 $48,728 $46,992 $52,633 $44,709 Debt Service 4,649 4,560 4,555 4,553 4,556 4,557 Transfers 0 0 0 0 0 0 Renewal and Replacement 0 0 0 0 0 0 Capital Expenditure 132,477 90,848 27,261 17,608 26,272 24,120 Total $201,728 $150,416 $80,544 $69,153 $83,461 $73,386 Depreciation Expense $16,577 $19,144 $17,224 $17,756 $16,285 $21,049 Table 1: FY2022 Budget Aggregate Outlays (In $1,000's) [1] Excluding depreciation. *Excludes GASB Non-cash Adjustments Operating and Capital Budget –Summary Statement Fiscal Year 2022 7 | P a g e Plan Act (ARPA), $4.2M from Virgin Islands local grants and $3.3M from debt funded marine proceeds- a total of $201.7M. [See Table 2] The Numbers at a Glance • Fiscal Year 2022 revenues of $61.8M are $23.6M higher (↑62%) when compared to the $38.2M budgeted for FY2021; however, when compared to the estimated FY2021 revenue collections of $44.7M (See Schedule 4), FY2022 revenues of $61.8M are $17.1M higher (38%) as a result of:  Aviation – When compared to estimated FY2021 revenues of $31.3M (See Schedule 5), aviation revenues for FY2022 of $34.2M are $2.9M higher (↑9%). As depicted below, aviation passenger activity in FY2022 will be correlated to expected increased air traffic from continued recovery following the COVID-19 pandemic:  CEKA is expected to end FY2022 with approximately 600,000 enplaned passengers – (↑47%) percent from the 408,000 of FY2020.  HERA is expected to end FY2022 with approximately 200,000 enplaned passengers – (↑42%) percent from the 140,000 in FY2020. FY2022 Bdgt[1] FY2021 Bdgt[1] FY2020 Bdgt Operating Revenues $61,842 $38,192 $62,749 Anticipated Subsidy 12,000 10,000 0 Renewal & Replacement Reserve 0 0 121 Passenger Facility Charges 2,415 4,898 6,637 Car Rental Facility Charges 700 700 300 Capital Grants 100,976 64,860 83,275 Cash Reserves & Other 5,000 6,000 8,801 CARES Act 7,140 16,955 0 ARPA Act 4,163 . 0 Insurance Funds 0 2,335 5,310 VI Local Grants 4,150 3,618 500 Debt Funded Marine Projects 3,342 2,857 7,591 $201,728 $150,415 $175,284 [1] FY 2022 Cash Flow Budget Table 2: FY2022 Budget Aggregate Resources (In $1,000's) [2] Operating and Capital Budget –Summary Statement Fiscal Year 2022 8 | P a g e  In total VIPA should have approximately 800,000 enplanements for FY 2022 – (↑46%) percent from the approximately 547,000 in FY2020.  Marine – When compared to FY2021 estimated revenue collections of $13.4M (See Schedule 6) and marine revenues anticipated for FY2022 of $27.6M are $14.2M higher (↑106%). Marine cruise passenger activity is expected to increase in FY2022 from continued recovery following the COVID-19 pandemic:  St. Thomas is expected to end FY2022 with approximately 900,000 cruise passengers.  St. Croix is expected to end FY2022 with approximately 98,000 cruise passengers.  In total, VIPA is expecting 998,000 cruise passengers to come through its seaports. During the months of July through the end of September FY2021, nearly 25,000 to 30,000 passengers will have visited the Virgin Islands by cruise ship. VIPA is extremely optimistic for the future of cruise related revenue as the territory continues to show signs of recovery from COVID- 19. The recently signed VIPA/Royal Caribbean Group MOU on September 29, 2021 also provides significant indication of recovery to the cruise industry in the USVI. • Fiscal Year 2022 core operating expenses of $64.6M reflects a (↑39%) increase when compared to the FY2021 year-end estimate of $45.2M. When measured against last year’s budget, core operating expenses also realized a $9.6M (↑17%) increase (Table 1). Using the FY2021 year-end estimates (See Schedule 4), the assumptions underlying core operating expenses are as follows:  Payroll costs are expected to increase by $10.1M (↑37%), largely as a result of finalized union negotiated salary increases for aviation, marine and administration and support positions.  Maintenance costs are expected to increase by $2.3M (↑32%) mainly to address various issues pertaining to CEKA and HERA and to prepare for receiving more cruise ships in FY2022.  Materials and supplies are anticipated to increase by $1M (↑98%)  Professional services are expected to increase by $3.8M (↑116%) due to expected security needed for arrival of more cruise ships.  Insurance costs are expected to increase by $605K (↑10%).  Utilities are expected to increase by $155K (↑3%).  Travel and related expenses are expected to increase by $567K (↑247%).  Other expenses are expected to increase by $865K (↑7370%). III. Forecast of U.S.V.I. Air and Cruise Passengers Operating and Capital Budget –Summary Statement Fiscal Year 2022 9 | P a g e Local and federal recovery efforts made since the COVID-19 pandemic, have helped air/cruise passenger traffic see significant increase in passenger arrivals and enplanements, especially in the 3rd and 4th quarters of FY2021. VIPA witnessed its highest monthly recorded air enplanement count in the month of July 2021 with 117,000 passengers. Cruise traffic is slowly returning to normal with over 25,000 passengers visiting the territory on St Thomas and St Croix. The last five years of total arriving U.S.V.I. air and cruise passengers, as well as an estimate for 2021 and forecast for 2022 is shown below: This forecast assumes air and cruise ship schedules continue in a similar manner as they are with increased calls to St Thomas and St Croix ports. Based on data from the last six months of 2021 fiscal year, the number of total cruise passengers to the U.S.V.I. is expected to increase from the previous year. IV. Strategic Goals and Initiatives The FY2022 budget embodies several strategic goals and initiatives. These include: • Continuation of the Aviation and Marine Capital Programs through the generation of new revenues and collaboration with our vested partners. • Rebuild and harden Port Authority Assets • Promote resilience and recovery efforts throughout the Port Authority • Successful Implementation of the Capital Improvements Program • Identify and adopt technology to better manage and streamline operations 2022B 2021P 2020Un. 2019A 2018A 2017A 2016A Cruise 998 25 902 1,710 1,149 1,552 1,905 Air 800 770 450 833 573 956 972 Table 3: Passengers (In 1,000's) Operating and Capital Budget –Summary Statement Fiscal Year 2022 10 | P a g e V. Budget Summaries Operating Budget Summary In summary, as presented in Table 4 above, the FY2022 operating budget is based on $61.8M in combined Aviation and Marine operating revenues and $81.2M (see Schedule 1) in operating expenses (including depreciation expense of $16.6M), resulting in operating loss of -$19.3M. Non-operating revenues of $3.1M (primarily passenger and customer facilities charges) are offset by -$1.7M in interest expense (on long term debt), for a net contribution of $1.4M. An additional $101M in capital grant contributions, anticipated government subsidy of $12M, CARES ACT reimbursement of $7.1M, ARPA ACT reimbursement of $4.2M and $4.2M in local government grants results in net assets of $110.5M. Excluding depreciation expense, operating revenues are less than operating expense by -$2.8M. (In $1,000's) FY 22 Bdgt FY 21 Bdgt FY 20 Un. FY 19 Act FY 18 Act FY 17 Act Aviation Revenues $34,240 $16,864 $24,133 $30,270 $16,560 $24,652 Marine Revenues 27,602 21,328 23,262 32,261 24,265 29,693 Total Operating Revenues $61,842 $38,192 $47,395 $62,531 $40,825 $54,345 Operating Expense 64,602 55,008 48,728 46,839 52,633 44,709 Depreciation Expense 16,577 19,144 17,224 17,757 16,285 21,049 Operating Income (Loss) -$19,337 -$35,960 -$18,557 -$2,065 -$28,093 -$11,413 Non-Operating Revenue(Expense), net 1,446 -195 -22,742 (26,394) (830) 1,851 Insurance Funds 0 2,335 0 20,158 56,225 - Capital Contributions 100,976 64,860 9,201 4,205 9,726 9,944 Anticipated Federal Subsidy 12,000 10,000 0 - - - CARES Act Reimbursement 7,140 16,955 0 - - - ARPA Act Reimbursement 4,163 0 0 - - - VI Local Grants 4,150 3,618 0 - - - Change in Net Assets $110,538 $61,613 -$32,098 -$4,096 $37,028 $382 EBID1 -$2,760 -$16,816 -$1,333 $15,692 -$11,808 $9,636 1 Earnings Before Interest & Depreciation. [1] Source: VIPA Audited Financial Statement Fiscal Years 2017-2018 [2] Excludes GASB Non-Cash Adjustment Table 4: FY2022 Operating Revenue & Expense Summary[1] Table 5: Revenue & Expense Contribution (In $1,000's) Aviation Marine Admin & Gen FY22 Total Operating Revenues $34,240 $27,602 $0 61,842 Operating Expense 22,370 18,591 23,641 64,602 Admin & Gen Exp. Allocated 12,095 11,546 (23,641) 0 Admin & Gen Deprec. Allocated 348 156 (504) 0 Depreciation Expense 11,071 5,002 504 16,577 Operating Expenses 45,884 35,295 0 81,179 Operating Income (Loss) -$11,644 -$7,693 $0 -$19,337 EBID -$225 -$2,535 $0 -$2,760 Operating and Capital Budget –Summary Statement Fiscal Year 2022 11 | P a g e Table 5 shows that the Aviation Division is expected to contribute $34.2M in operating revenues (or 55%) of the total operating revenues ($61.8M) and incur $45.9M (or 57%) of total operating expenses ($81.2M); resulting in a shortage of revenues below expenses of -$225K on a cash basis (excluding depreciation). The Marine Division is expected to generate operating revenues of $27.6M (45%) of the total operating revenues and incur operating expenses of $35.3M (43%) of total operating expenses of $81.2M; thereby producing a shortage of revenues below expenses of -$2.5M – on a cash basis (excluding depreciation). Administration and General (A&G) expenses are budgeted at $23.6M on a cash basis excluding depreciation. Of this, $12.1M (51%) is allocated to the Aviation Division and $11.5M (49%) is allocated to the Marine Division. The A&G allocated amounts comprise 26% of the Aviation Division operating expense budget and 33% of the Marine Division’s operating expense budget – excluding depreciation. In FY2022, the operating revenue budget for the Aviation Division reflects the in rates and tariffs amended March 1, 2020. For the Marine Division, FY2022 projected revenues of $27.6M are $14.2M higher (106%) than FY2021. The following underlying assumptions were utilized in deriving marine revenue estimates: • Marine revenues are expected to increase due to increases in passenger activity from cruise ships. Table 6: Aviation Revenue Summary (In $1,000’s) FY 22 Bdgt FY 21 Proj. FY 20 Un. FY 19 Act. FY 18 Act FY 17 Act Aircraft Fees $6,720 $6,266 $2,940 $4,793 $2,816 $4,234 Rental Income 5,076 4,959 5,919 4,995 4,973 6,649 Commissions & Fees 22,443 20,028 11,997 20,482 8,771 13,768 Operating Revenues $34,239 $31,253 $20,856 $30,270 $16,560 $24,651 Rental Income $6,116 $6,116 $4,902 $5,320 $4,718 $5,827 Commission & Concession Fees 819 819 773 265 147 370 Marine Fees & Dues 20,667 6,492 16,955 26,676 19,400 23,496 Total $27,602 $13,427 $22,630 $32,261 $24,265 $29,693 Table 7: Marine Revenue Summary ($1,000's) FY 17 Act. FY 20 Un. FY 19 Act. FY 18 Act. FY 21 Proj. FY 22 Bdgt Operating and Capital Budget –Summary Statement Fiscal Year 2022 12 | P a g e As summarized in Table 8, the FY2022 payroll expense budget totals $37.5M. It consists of $23.9M in payments to employees, $5.5M in payroll taxes and mandatory employer contributions, and $5.3M in employee health insurance costs. FICA is assessed at 7.65% for payments to employees (up to $127K); employer contributions to Virgin Islands Government Employee Retirement System (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 lump sum amount of $2.7M is related to a liability associated with GERS. The $37.5M budgeted for FY2022 is $6.6M (21%) more than estimated in FY2021, and $9.9M (36%) more than unaudited actuals through September 30, 2020. The reason for this increase is largely due to negotiated salary increases for aviation, marine and administration/support positions. In FY2022, there are 381 full-time equivalents (FTE) positions, as follows: FY2022 FTE POSITION SUMMARY Division Count Payroll Costs Aviation 111 $ 5,072,081 Marine 86 $ 5,170,036 Support 184 $ 11,171,522 Total 381 $ 21,413,639 The chart above shows the number of positions and associated payroll costs among the aviation, marine and support divisions. Of the 381 total positions, there are fifty-four (54) vacancies at $2,464,271; fifteen (15) in the Aviation Division at $493,272, four (4) in the Marine Division at $157,124 and thirty-five (35) in the support divisions at $1,813,875. Table 8: Payroll Cost Summary ($1,000's) FY 22 Bdgt FY 21 Est. FY 20 Un. FY 19 Act. FY 18 Act. FY 17 Act. Salaries & Wages $21,414 $17,807 $15,534 $14,387 $13,810 $14,178 Overtime & Other Pay 2,457 2,232 2,397 2,528 1,936 2,087 Payments to Employees $23,871 $20,039 $17,931 $16,915 $15,746 $16,265 FICA, Retirement & Wkrs Comp 5,517 4,937 4,657 4,072 3,995 4,203 Health, Dental & Life Insurance 5,399 5,873 4,963 4,153 4,469 5,684 Lump Sum 2,685 0 0 0 0 0 Total Expenses $37,472 $30,849 $27,551 $25,140 $24,210 $26,152 *Excludes GASB68 Non-Cash Adjustments Operating and Capital Budget –Summary Statement Fiscal Year 2022 13 | P a g e As presented in Table 9A, operating expenses, excluding payroll and depreciation expense, is budgeted at $27.1M in FY2022; 52% ($9.3M) higher when compared to the estimated expenses of $17.9M for FY2021. Table 9B provides a comparative breakdown of operating expenses by major expense categories. For FY2022, core expenditures are expected to change across the following expenditure categories compared to FY2021 (See Schedule 4): • Maintenance costs are expected to increase by $2.3M (↑123%). • Materials, Supplies Other Services are expected to increase by $4.8M (↑111%). • Insurance costs are expected to increase by $606K (↑10%). • Utilities cost is anticipated to increase by $155K (↑3%). • Other Operating Expenses is expected to increase by $1.4M (594%). Table 9A: Summary of Operating Expenses, Excl. Personnel & Depreciation (In $1,000's)  FY 22 Bdgt FY 21 Proj. FY 20 Un. FY 19 Act. FY 18 Act. FY 17 Act. FY 16 Act. Aviation $13,213 $9,433 $9,746 $11,541 $10,955 $9,314 $7,727 Marine 8,748 5,626 7,305 7,106 7,549 5,927 6,790 Admin & General 5,170 2,791 2,390 3,052 9,918 3,317 3,360 Combined $27,131 $17,850 $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 22 Bdgt FY 21 Proj. FY 20 Un. FY 19 Act. FY 18 Act. FY 17 Act. Repairs & Maintenance $4,202 $1,885 $3,072 $3,321 $3,881 $2,728 Materials, Supplies & Prof. Other Services 9,053 4,282 5,808 6,467 14,068 5,555 Insurance 6,893 6,287 5,215 4,630 3,409 2,567 Utilities 5,310 5,155 4,943 6,708 5,320 5,667 Other Operating Expenses 1,673 241 403 573 1,744 2,041 Total $27,131 $17,850 $19,441 $21,699 $28,422 $18,558 Principal Interest Total Marine Revenue Bonds, Series A,B &C $2,980 $1,584 $4,564 Total Debt Service $2,980 $1,584 $4,564 Table 10: FY 2022 Debt Service Summary (In $1,000's) * Amount $29M, Interest 4.0%, Term 20 years Operating and Capital Budget –Summary Statement Fiscal Year 2022 14 | P a g e Table 10 summarizes the debt service which includes Marine Bond debt service principal combined of $3M and interest of $1.6M for a total debt service of $4.6M. Capital Budget Summary The FY2022 capital budget is outlined in the FY2022 Capital Budget Project Listing (See Schedule 8). As delineated in Table 11, the capital budget totals $136.4M of which $67.9M is for Aviation Division capital, $66.4M for Marine Division capital and $2.2M for Administration and General. The Vehicles budget of $4.8M are mainly consisted of vehicles specific to airport firefighter operations. Office Improvements & Equipment for FY2022 included much needed tools and equipment for operations. The bulk of the capital budget, totaling $131.3M is for major upgrades and expansion to aviation facilities ($64.2M), marine facilities ($66M) and support facilities ($1.1M). Table 12 summarizes the sources of funding for the capital expenditure budget. In total, the Authority’s FY2022 capital program is funded by $24M from internal sources, $101M from capital grants, $3.3M from bond proceeds and $4.2 from Virgin Island government grants. Aviation Marine A&G Total Vehicles -Utilities & Light Trucks $3,577 $307 $882 $4,766 Office Improvements, Furniture & Equipment $84 $8 $212 $304 Facilities Upgrade & Expansion $64,202 $66,046 $1,080 $131,328 $67,863 $66,361 $2,174 $136,398 Table 11: Capital Budget Summary(In $1,000's)  Funding Source Aviation Marine A&G Total Net Operating Revenues** $14,857 $3,862 $2,174 $20,893 PFC Revenues** 2,415 0 0 $2,415 CFC Revenues** 700 0 0 $700 Total Internal Sources $17,972 $3,862 $2,174 $24,008 Capital Grants 49,890 51,087 0 $100,977 Debt Funded Marine Capital Projects 0 3,342 0 $3,342 VI Local Grants 0 4,150 0 $4,150 Total Funding Sources $67,862 $62,441 $2,174 $132,477 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 2022 15 | P a g e The Aviation Division capital budget is financed by $14.9M from operating revenues; approximately $2.4M from PFC revenues; $700K from CFC revenues and $49.9M from capital grants. The Marine Division’s capital budget is funded by $3.9M from operating revenues; $51.2M from capital grants, $3.3M from bond proceeds and $4.2M from local government grants. Cash Flow Budget Summary FY22 $ Bgt. Change Operating Cash Received $34,240 $27,602 $61,842 $38,192 $23,650 Cash Used in Operating Activities -34,465 -30,137 -64,602 -55,008 -$9,594 Net Cash from Operating Activities -$225 -$2,535 -$2,760 -$16,816 $14,056 Cash on Hand 5,000 0 5,000 6,000 -$1,000 CARES ACT-Reimbursement 7,140 0 7,140 16,955 -$9,815 ARPA ACT-Reimbursement 4,163 0 4,163 0 $4,163 Anticipated Subsidy 0 12,000 12,000 10,000 $2,000 Internal Cash Transfer –Unrestricted 0 0 0 0 $0 Passenger Facility Charges 2,415 0 2,415 4,898 -$2,483 Customer Facility Charges 700 0 700 700 $0 Renewal & Replacement Fund 0 0 0 0 $0 Internal Sources of Cash $19,193 $9,465 $28,658 $21,737 $6,921 Capital Grant Contribution 49,890 51,087 100,977 64,860 $36,117 VI Local Grants 0 4,150 4,150 3,618 $532 Insurance Funds 0 0 0 2,335 -$2,335 Loan Proceeds 0 3,342 3,342 2,857 $485 Internal & External Sources of Cash $69,083 $68,044 $137,127 $95,407 $41,720 Capital Expenditures Long Term Debt P&I -Existing & New 46 4,603 4,649 4,560 $89 Capital Acquisition - Admin and Gen. Allocation 1,174 1,000 2,174 562 $1,612 Capital Acquisition -Revenue Funded 14,858 3,862 18,720 11,017 $7,703 Capital Acquisition -PFC Funded 2,415 0 2,415 4,898 -$2,483 Capital Acquisition -CFC Funded 700 0 700 700 $0 Capital Acquisition -Grant Funded 49,890 51,087 100,977 64,860 $36,117 Capital Acquisition -Debt Funded 0 3,342 3,342 2,857 $485 Capital Acquisition -Renewal & Replacement 0 0 0 0 $0 Capital Acquisition -Insurance Funds 0 0 0 2,335 -$2,335 Capital Acquisition -VI Local Grants 0 4,150 4,150 3,618 $532 Transfers -Renewal & Replacement Fund 0 0 0 0 $0 Total Uses of Cash $69,083 $68,044 $137,127 $95,407 $41,720 FY21 Bgt. FY 22 Summary Cash Flow Statement (In $1,000's) Sources: Aviation Marine Operating and Capital Budget –Summary Statement Fiscal Year 2022 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 FY2022. For VIPA, the major budgeted sources of cash are: $61.8M from operating revenues; $5M from Cash on Hand (unrestricted); $7.1M from Coronavirus Aid, Relief, and Economic Security Act (CARES); $4.2M from the American Rescue Plan Act (ARPA); $12M from an anticipated government subsidy; $2.4M from passenger facilities charges (PFC); $700K from Customer Facility Charges (CFC) for a total of $28.7M from internal sources. External sources of cash consist of $101.1M from capital grant contributions, $4.2M from local government grants and $3.3M from loan proceeds, for a grand total of $137.1M (internal and external sources of cash). This cash flow will finance: $64.6M in operating expenses; $4.6M in principal and interest on long term debt; $2.2M in admin and general capital projects; $18.7M in revenue funded capital projects; $2.4M in PFC projects; $700K in CFC Projects; $101M in federally funded projects; $3.3M in debt financed marine projects and $4.2M in local approved government projects. END OF SUMMARY STATEMENT Lin Aviation Marine Admin & Gen FY 2022 Operating Revenues and Expenses Aviation Marine Support Combined 1 Aviation 34,239,922 $ 34,239,922 $ 2 Marine 27,602,277 $ 27,602,277 3 Total Operating Revenues 34,239,922 $ 27,602,277 $ - $ 61,842,199 $ Operating Expenses 4 Payroll Expenses 9,157,279 9,843,314 18,470,428 37,471,021 $ 5 Maintenance Expenses 2,665,000 730,000 807,100 4,202,100 6 Materials & Supplies 837,000 480,000 761,500 2,078,500 7 Utilities 3,722,000 970,000 618,000 5,310,000 8 Professional & Other Services 2,222,000 2,680,000 2,072,500 6,974,500 9 Travel & Other Expenses 247,000 94,000 455,000 796,000 10 Insurance 3,257,100 3,278,000 357,500 6,892,600 11 Depreciation Expense 11,071,000 5,002,000 504,000 16,577,000 12 Depreciation Expense Allocated 347,760 156,240 (504,000) - 13 Other Expenses 263,000 515,500 98,500 877,000 14 Admin & Gen Allocation 12,094,579 11,545,949 (23,640,528) - 15 Total Operating Expenses 45,883,718 $ 35,295,003 $ - $ 81,178,721 $ 16 Operating Profit (Loss) (11,643,796) $ (7,692,726) $ - $ (19,336,522) $ Non-operating Revenues (Expenses) 17 Passenger Facilities Charges (PFC) 2,415,000 $ - - 2,415,000 $ 18 Customer Facilities Charges (CFC) 700,000 - - 700,000 19 Other Income - - - - 20 Interest Expense (46,363) (1,622,994) - (1,669,357) 21 Non-operating Revenues (Expenses), net 3,068,637 $ 1,622,994 -$ - $ 1,445,643 $ 22 Capital Grant Contributions 49,889,560 51,086,744 - 100,976,304 23 Anticipated Federal Subsidy - 12,000,000 - 12,000,000 24 CARES Act Reimbursement 7,139,655 - - 7,139,655 25 CARES Act Reimbursement 4,163,279 - - 4,163,279 26 Insurance Funds - - - 0 27 VI Local Grant - 4,150,000 - 4,150,000 28 Change in Net Assets 48,454,056 $ 57,921,024 $ - $ 110,538,359 $ Virgin Islands Port Authority FY22 Budget For the Fiscal Years Ended September 30, 2021 & 2022 Schedule 1a Aviation 34,239,922 $ Marine 27,602,277 Total Operating Revenues 61,842,199 $ Operating Expenses Payroll Expenses 37,471,021 $ Maintenance Expenses 4,202,100 Materials & Supplies 2,078,500 Utilities 5,310,000 Professional & Other Services 6,974,500 Travel & Other Expenses 796,000 Insurance 6,892,600 Depreciation Expense 16,577,000 Depreciation Expense Allocated - Other Expenses 877,000 Admin & Gen Allocation - Total Operating Expenses 81,178,721 $ Operating Profit (Loss) (19,336,522) $ Non-operating Revenues (Expenses) Passenger Facilities Charges (PFC) 2,415,000 $ Customer Facilities Charges (CFC) 700,000 Other Income - Interest Expense 1,669,357 - Non-operating Revenues (Expenses), net 1,445,643 $ Capital Grant Contributions 100,976,304 Anticipated Federal Subsidy 12,000,000 CARES Act Reimbursement 7,139,655 ARPA Act Reimbursement 4,163,279 Insurance Funds - VI Local Grants 4,150,000 Change in Net Assets 110,538,359 $ Virgin Islands Port Authority Statement of Revenues, Expenses and Change in Net Assets For the Fiscal Year Ended September 30, 2022 Schedule 1b Cash Flow Aviation Marine Admin & Gen Combined Internal Cash Sources: Operating Revenues 34,239,922 $ 27,602,277 $ - $ 61,842,199 $ Operating Expenses Excl. Depreciation (34,464,958) (30,136,763) - (64,601,721) Net Cash From Operating Revenue (225,036) $ (2,534,486) $ - $ (2,759,522) $ Long Term Debt P & I (46,363) (4,602,994) - (4,649,357) Revenue Available for Capital Expenditure (271,399) $ (7,137,480) $ - $ (7,408,879) $ Cash on Hand 5,000,000 - - 5,000,000 Anticipated Subsidy - 12,000,000 - 12,000,000 CARES ACT-Reimbursement 7,139,655 - - 7,139,655 ARPA ACT - Reimbursement 4,163,279 - - 4,163,279 PFCs - New 2,415,000 - - 2,415,000 CFCs - New 700,000 - 700,000 Available for Internally Funded Capital Budget 19,146,535 $ 4,862,520 $ - $ 24,009,055 $ Revenue Funded Capital Expenditure (14,857,570) (3,862,475) (18,720,045) PFC Funded Capital Expenditure (2,415,000) - - (2,415,000) CFC Funded Capital Expenditure (700,000) - - (700,000) Renewal and Replacement Capital Expenditure - - - - Admin & Gen Capital Budget Allocated (1,173,965) (1,000,045) - (2,174,010) Internal Cash Over (Short) - $ - $ - $ - $ External Cash Flow Marine Capital Grant Contributions - 51,086,744 - 51,086,744 Aviation Capital Grant Contributions 49,889,560 - - 49,889,560 Debt Funded Marine Projects - 3,341,525 - 3,341,525 VI Local Grants - 4,150,000 - 4,150,000 External Cash Sources 49,889,560 $ 58,578,269 $ - $ 108,467,829 $ Marine Capital Grant Contributions - (51,086,744) - (51,086,744) Aviation Capital Grant Contributions (49,889,560) - - (49,889,560) Debt Funded Marine Capital Projects - (3,341,525) - (3,341,525) VI Local Grants - (4,150,000) - (4,150,000) External Cash Over (Short) - $ - $ - $ - $ Virgin Islands Port Authority For the Fiscal Year Ended September 30, 2022 Statement of Cash Sources and Uses Schedule 2 VI Port Authority FY 2022 Budget Operating Expense Summary Lin C/C Employee Pmts[A] Severance Overtime Other Fringe Benefits[A] Lump Sum Personnel Costs Maintenance Mat'l & Supplies Utilities Prof & Other Svce Travel & Other Insurance Other Total Operating 1 2962-1 Accounting STT 427,703 0 15,000 244,109 0 686,812 26,000 19,000 5,000 3,000 10,000 2,200 0 752,012 2 2962-2 Accounting STX 47,739 0 0 31,806 0 79,545 0 0 0 0 0 0 0 79,545 3 2961-1 Admin & Finance STT 1,537,694 0 0 115,198 1,400,000 3,052,892 15,000 9,000 10,000 715,000 22,000 4,400 80,000 3,908,292 4 2961-2 Admin & Finance STX 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5 5167-1 ARFF STT 938,037 0 106,000 617,695 0 1,661,732 189,000 150,000 10,000 220,000 100,000 77,000 0 2,407,732 6 5167-2 ARFF STX 705,067 0 200,000 469,110 0 1,374,177 189,000 162,000 70,000 175,000 100,000 26,400 0 2,096,577 7 5161-1 Aviation STT 2,055,279 90,000 65,000 957,933 650,000 3,818,212 1,150,000 300,000 2,220,000 1,127,000 19,000 2,072,400 260,000 10,966,612 8 5161-2 Aviation STX 960,819 0 8,000 636,089 0 1,604,908 1,000,000 150,000 1,420,000 650,000 20,000 1,016,400 3,000 5,864,308 9 5461-1 Bournefield 0 0 0 0 0 0 22,000 5,000 0 35,000 0 62,700 0 124,700 10 6167-1 Crown Bay 458,437 0 4,000 288,751 0 751,188 120,000 60,000 450,000 380,000 14,000 338,800 500 2,114,488 11 3961-1 Engineering STT 530,987 0 20,000 213,398 0 764,385 18,000 32,000 10,000 31,500 20,000 8,800 0 884,685 12 3961-2 Engineering STX 434,491 0 0 165,801 0 600,292 18,000 20,000 20,000 10,000 20,000 5,500 0 693,792 13 1961-1 Executive STT 839,595 0 1,000 317,285 0 1,157,880 52,000 55,000 330,000 570,000 85,000 63,800 8,500 2,322,180 14 1961-2 Executive STX 246,548 0 1,000 101,049 0 348,597 30,000 15,000 10,000 30,000 20,000 9,900 0 463,497 15 1969-1 Gov Board 89,701 0 0 32,233 0 121,934 0 10,000 0 45,000 85,000 12,100 0 274,034 16 1963-1 Human Resources STT 191,952 70,000 0 101,748 0 363,700 12,000 16,000 2,000 50,000 30,000 5,500 0 479,200 17 1963-2 Human Resources STX 46,352 0 0 31,359 0 77,711 0 0 0 0 0 0 0 77,711 18 2964-1 IT 324,564 0 0 142,889 0 467,453 350,000 35,000 20,000 220,000 15,000 3,300 0 1,110,753 19 1962-1 Legal 340,409 0 0 111,837 0 452,246 3,000 16,000 3,000 35,000 21,000 4,400 0 534,646 20 3964-1 Maintenance STT 1,251,056 0 70,000 797,192 0 2,118,248 75,000 90,000 50,000 35,000 20,000 46,200 0 2,434,448 21 3964-2 Maintenance STX 1,000,977 0 20,000 588,007 0 1,608,984 76,100 62,000 40,000 20,000 10,000 29,700 0 1,846,784 22 6161-1 Marine STT 3,154,906 90,000 1,000,000 1,553,529 635,000 6,433,435 410,000 310,000 340,000 1,500,000 40,000 1,904,100 415,000 11,352,535 23 6161-2 Marine STX 1,556,693 0 400,000 701,998 0 2,658,691 200,000 110,000 180,000 800,000 40,000 1,035,100 100,000 5,123,791 24 5168-1 Parking Lot STT 212,447 0 13,000 129,631 0 355,078 65,000 50,000 1,000 10,000 5,000 1,100 0 487,178 25 5168-2 Parking Lot STX 200,432 0 10,000 132,740 0 343,172 50,000 20,000 1,000 5,000 3,000 1,100 0 423,272 26 1966-1 Police STT 1,349,279 0 150,000 904,435 0 2,403,714 40,000 180,000 10,000 40,000 22,000 81,400 0 2,777,114 27 1966-2 Police STX 881,758 0 90,000 572,204 0 1,543,962 31,000 56,000 10,000 20,000 10,000 45,100 0 1,716,062 28 4961-1 Property Management STT 216,927 0 0 94,943 0 311,870 6,000 6,000 10,000 20,000 14,000 5,500 0 373,370 29 4961-2 Property Management STX 129,708 0 0 71,837 0 201,545 3,000 3,500 4,000 6,000 5,000 3,300 0 226,345 30 1964-1 Public Relations 133,759 0 0 72,674 0 206,433 5,000 16,000 3,000 130,000 13,000 2,200 10,000 385,633 31 2963-1 Purchasing STT 257,557 0 0 145,141 0 402,698 12,000 15,000 50,000 27,000 12,000 8,800 0 527,498 32 2963-2 Purchasing STX 199,565 0 0 121,288 0 320,853 14,000 13,000 30,000 14,000 2,000 15,400 0 409,253 33 1967-1 Safety & Security STT 443,881 0 14,000 286,559 0 744,440 15,000 75,000 1,000 11,000 7,000 0 0 853,440 34 1967-2 Safety & Security STX 249,320 0 20,000 164,914 0 434,234 6,000 18,000 0 40,000 12,000 0 0 510,234 35 36 Total Operating Expenses 21,413,639 250,000 2,207,000 10,915,382 2,685,000 37,471,021 4,202,100 2,078,500 5,310,000 6,974,500 796,000 6,892,600 877,000 64,601,721 37 Aviation 5,072,081 90,000 402,000 2,943,198 650,000 9,157,279 2,665,000 837,000 3,722,000 2,222,000 247,000 3,257,100 263,000 22,370,379 38 Marine 5,170,036 90,000 1,404,000 2,544,278 635,000 9,843,314 730,000 480,000 970,000 2,680,000 94,000 3,278,000 515,500 18,590,814 39 Admin & Gen 11,171,522 70,000 401,000 5,427,906 1,400,000 18,470,428 807,100 761,500 618,000 2,072,500 455,000 357,500 98,500 23,640,528 40 Total Operating Expenses 21,413,639 250,000 2,207,000 10,915,382 2,685,000 37,471,021 4,202,100 2,078,500 5,310,000 6,974,500 796,000 6,892,600 877,000 64,601,721 Schedule 3 VIPA FY2022 Budget 5-Year Revenue & Expense Summary Aviation FY2022 Bdgt FY2021 Proj. FY2020 Un FY2019 Act* FY2018 Act* FY2017 Act* User Fees & Charges 6,720,397 6,265,721 2,940,223 4,792,607 2,816,303 4,233,950 Rental Charges 5,076,265 4,959,103 5,919,162 4,995,091 4,972,896 6,649,393 Commission & Fees 22,443,260 20,027,987 11,997,449 20,482,162 8,770,719 13,768,459 Operating Revenues 34,239,922 31,252,811 20,856,834 30,269,860 16,559,918 24,651,802 Payroll, Taxes & Benefits 9,157,279 7,133,739 6,040,049 5,520,937 5,678,450 6,021,514 Maintenance 2,665,000 1,221,253 1,886,643 2,174,370 2,730,772 1,770,313 Materials & Supplies 837,000 314,668 366,156 540,877 413,335 405,630 Utilities 3,722,000 3,710,535 3,506,280 4,850,464 3,893,577 3,334,357 Professional & Other Services 2,222,000 1,070,273 1,397,115 1,630,025 1,480,438 1,190,454 Travel & Other 247,000 124,348 151,646 111,950 180,147 117,795 Insurance 3,257,100 2,991,940 2,437,819 2,154,402 1,538,767 1,129,757 Depreciation 11,071,000 11,064,965 10,787,217 10,680,757 10,986,940 12,820,628 Other Expense 263,000 0 0 78,750 718,401 1,365,559 Operating Expenses 33,441,379 27,631,721 26,572,925 27,742,532 27,620,827 28,156,007 13,213,100 9,433,017 9,745,659 11,540,838 VIPA FY2022 Budget 5-Year Revenue & Expense Summary Marine FY2022 Bdgt FY2021 Proj. FY2020 Un FY2019 Act* FY2018 Act* FY2017 Act* Rental Charges 6,116,491 6,116,491 4,901,927 5,319,651 4,717,823 5,827,699 Commmission & Fees 819,245 819,245 772,773 265,080 146,788 394,614 Marine Fees 20,666,541 6,492,218 16,955,172 26,676,039 19,400,269 23,471,021 Operating Revenues 27,602,277 13,427,954 22,629,872 32,260,770 24,264,880 29,693,334 Payroll, Taxes & Benefits 9,843,314 7,626,457 8,172,650 7,790,722 7,293,942 7,602,561 Maintenance 730,000 376,079 849,861 729,995 696,636 477,847 Materials & Supplies 480,000 248,837 336,029 382,488 525,204 365,050 Utilities 970,000 928,019 1,106,494 1,533,261 1,119,958 1,644,325 Professional & Other Services 2,680,000 1,069,075 2,473,812 2,191,572 3,247,314 2,086,245 Travel & Other 94,000 11,616 19,911 42,131 44,250 25,888 Insurance 3,278,000 2,980,964 2,494,003 2,211,359 1,632,797 1,213,002 Depreciation 5,002,000 4,990,851 6,204,819 6,326,955 4,813,761 7,534,371 Other Expense 515,500 11,741 24,945 15,096 282,458 114,336 Operating Expenses 23,592,814 18,243,639 21,682,524 21,223,579 19,656,320 21,063,625 8,747,500 5,626,331 7,305,055 7,105,902 Schedule 4 VIPA FY2022 Budget 5-Year Revenue & Expense Summary Support Services FY2022 Bdgt FY2021 Proj. FY2020 Un FY2019 Act* FY2018 Act* FY2017 Act* User Fees & Charges Rental Charges Other Revenues Operating Revenues Payroll, Taxes & Benefits 18,470,428 12,581,575 13,338,665 11,829,389 11,239,235 12,528,114 Maintenance 807,100 287,716 334,863 416,440 453,438 480,330 Materials & Supplies 761,500 483,987 327,216 411,651 441,972 320,290 Utilities 618,000 516,704 330,278 323,999 306,349 688,099 Professional & Other Services 2,072,500 1,095,415 907,899 1,310,204 7,959,943 1,186,871 Travel & Other 455,000 93,300 206,877 325,329 405,251 330,733 Insurance 357,500 314,263 282,795 263,888 237,541 224,286 Depreciation 504,000 485,237 709,488 749,028 483,825 693,920 Other Expense 98,500 0 0 0 113,590 85,897 Operating Expenses 24,144,528 15,858,197 16,438,081 15,629,928 21,641,144 16,538,540 5,170,100 2,791,385 2,389,928 3,051,511 VIPA FY2022 Budget 5-Year Revenue & Expense Summary All Divisions FY2022 Bdgt FY2021 Proj. FY2020 Un FY2019 Act* FY2018 Act* FY2017 Act* Aviation 34,239,922 31,252,811 20,856,834 30,269,860 16,559,918 24,651,802 Marine 27,602,277 13,427,954 22,629,872 32,260,770 24,264,880 29,693,334 Operating Revenues 61,842,199 44,680,765 43,486,706 62,530,630 40,824,798 54,345,136 Payroll, Taxes & Benefits 37,471,021 27,341,771 27,551,364 25,141,048 24,211,627 26,152,189 Maintenance 4,202,100 1,885,048 3,071,367 3,320,805 3,880,846 2,728,490 Materials & Supplies 2,078,500 1,047,492 1,029,401 1,335,016 1,380,511 1,090,970 Utilities 5,310,000 5,155,258 4,943,052 6,707,724 5,319,884 5,666,781 Professional & Other Services 6,974,500 3,234,763 4,778,826 5,131,801 12,687,695 4,463,570 Travel & Other 796,000 229,264 378,434 479,410 629,648 474,416 Insurance 6,892,600 6,287,167 5,214,617 4,629,649 3,409,105 2,567,045 Depreciation 16,577,000 16,541,053 17,701,524 17,756,740 16,284,526 21,048,919 Other Expense 877,000 11,741 24,945 93,846 1,114,449 1,565,792 Operating Expenses 81,178,721 61,733,557 64,693,530 64,596,039 68,918,291 65,758,172 Schedule 4 Virgin Islands Port Authority Aviation Revenue Detail For Fiscal Years Ending September 30th 2022 Budget 2021 Projections 2020 Un-aud. 2019 Actuals 2018 Actuals 2017 Actuals 2016 Actuals ST. THOMAS Landing Fees 5,309,790 $ 4,901,880 $ 2,338,833 $ 3,616,945 $ 1,895,662 $ 3,394,950 $ 2,837,677 $ Rental Income Terminal Building/Cargo 3,198,678 3,131,781 3,442,270 3,433,122 3,512,465 4,631,771 4,512,360 Airfield 14,400 14,400 14,400 14,400 14,400 13,200 1,823 Bournefield 144,167 144,300 144,300 144,300 120,075 144,875 162,125 Non-Aeronautical 610,383 618,383 370,455 309,592 366,539 455,460 466,786 Terminal Use & Commissions Terminal Building/Cargo 15,696,106 13,820,392 9,168,180 14,127,911 4,696,486 10,080,011 10,316,602 Airfield 12,766 13,409 251,804 489,722 489,809 666,696 810,191 Non-Aeronautical 397,391 394,597 23,345 90,286 205,735 15,202 91,254 Operating Revenues 25,383,681 23,039,142 15,753,587 22,226,278 11,301,171 19,402,165 19,198,818 Passenger Facility Charges 2,415,000 - - - - - - Customer Facility Charges 700,000 - - - - - - FAA Grants 1/ 35,421,507 - - - - - - TOTAL - STT 63,920,188 $ 23,039,142 $ 15,753,587 $ 22,226,278 $ 11,301,171 $ 19,402,165 $ 19,198,818 $ ST. CROIX Landing Fees 1,410,607 1,363,841 601,390 1,175,662 920,641 839,000 738,493 Rental Income Terminal Building/Cargo 523,676 465,278 828,744 936,269 802,265 1,230,263 1,499,934 Airfield 3,645 3,645 3,342 3,949 3,645 3,645 1,823 Non-Aeronautical 581,316 581,316 1,115,651 153,459 153,507 170,179 178,972 Terminal Use & Commissions Terminal Building/Cargo 5,971,300 5,459,237 2,552,628 5,720,295 3,378,689 2,987,461 3,055,461 Airfield - - - 53,948 - 19,089 28 Non-Aeronautical 365,697 340,352 1,492 - - - - Operating Revenues 8,856,241 8,213,669 5,103,247 8,043,582 5,258,747 5,249,637 5,474,711 Passenger Facility Charges - - - - - - - Customer Facility Charges - - - - - - - FAA Grants 1/ 14,468,053 - - - - - - TOTAL - STX 23,324,294 $ 8,213,669 $ 5,103,247 $ 8,043,582 $ 5,258,747 $ 5,249,637 $ 5,474,711 $ Total Operating Revenues 34,239,922 $ 31,252,811 $ 20,856,834 $ 30,269,860 $ 16,559,918 $ 24,651,802 $ 24,673,529 $ Other Revenues - $ - $ - $ - $ - $ - $ - $ Total Grants & Other Charges 53,004,560 $ - $ - $ - $ - $ - $ - $ COMBINED TOTAL 87,244,482 $ 31,252,811 $ 20,856,834 $ 30,269,860 $ 16,559,918 $ 24,651,802 $ 24,673,529 $ 1/ FAA Grant projection includes only Entitlements, not Discretionary VI Port Authority Aviation Division Revenue Summary FY 2022 Budget FY 2022 Budg FY 2021 Proj. FY 2020 Un. FY 2019 Act FY 2018 Act FY 2017 Act FY 2016 Act Aircraft Fees 6,720,397 $ 6,265,721 $ 2,940,223 $ 4,792,607 $ 2,816,303 $ 4,233,950 $ 3,576,170 $ Rental Income 5,076,265 4,959,103 5,919,162 4,995,091 4,972,896 6,649,393 6,823,823 Commissions & Fees 22,443,260 20,027,987 11,997,449 20,482,162 8,770,719 13,768,459 14,273,536 Operating Revenues 34,239,922 31,252,811 20,856,834 30,269,860 16,559,918 24,651,802 24,673,529 Other Revenue 0 0 0 0 0 0 0 Passenger Facility Charge 2,415,000 0 0 0 0 0 0 Customer Facility Charges 700,000 0 0 0 0 0 0 FAA Grants -Entitlements 49,889,560 0 0 0 0 0 0 FAA Grants -Discretionary 0 0 0 0 0 0 0 87,244,482 31,252,811 20,856,834 30,269,860 16,559,918 24,651,802 24,673,529 Schedule 5 VI Port Authority Marine Revenue Detail Fiscal Year Ending September 30th 2022 Budget 2021 Projections 2020 Un-aud. 2019 Actuals 2018 Actuals 2017 Actuals 2016 Actuals St.Thomas/St. John Rental Income Crown Bay & Sandfill 1,877,833 1,877,833 1,897,269 1,674,344 1,365,081 1,535,493 1,647,989 Crown Bay Dock 1,831,254 1,831,254 1,812,803 2,410,910 2,205,172 2,822,991 3,189,306 Red Hook Terminal 155,248 155,248 179,629 173,263 140,671 164,244 169,458 Other 1,877,150 1,877,150 702,513 734,116 704,724 749,698 784,567 Total Rental Income STT/STJ 5,741,485 5,741,485 4,592,214 4,992,633 4,415,648 5,272,426 5,791,320 Commission & Concession Fees Red Hook Terminal 765,879 765,879 696,069 140,350 13,077 184,695 443,831 Other 53,366 53,366 75,255 121,023 131,296 205,304 185,296 Total Commission & Concesssion Fees STTSTJ 819,245 819,245 771,324 261,373 144,373 389,999 629,127 Marine Fees & Dues Pilotage 1,416,488 988,632 763,011 600,285 386,221 336,607 388,989 Ship Dues Tonnage 1,067,039 524,510 794,901 1,127,292 825,142 793,135 833,318 Car Ferry Fees 604,419 585,636 410,400 477,350 419,107 498,863 554,512 Ferry Passenger Fees 6,599,588 0 5,711,470 10,770,098 7,342,139 8,966,076 10,138,906 Ship Dues & Fees 16,773 1,972 249,904 353,100 199,970 555,284 560,498 Docking Fees 1,325,516 916,600 1,467,242 1,752,663 1,373,412 1,817,835 1,270,799 Passenger Wharfage 5,040,319 834,258 3,929,734 6,523,892 5,129,812 6,708,145 5,630,306 Marine Terminal Tax 924,180 0 865,231 1,631,837 1,112,638 1,497,410 1,769,210 Crown Bay Terminal User Fee 0 0 0 0 0 0 0 Total Marine Fees & Dues STT/STJ 16,994,322 3,851,608 14,191,893 23,236,517 16,788,441 21,173,355 21,146,538 0 - - - - TOTAL STT/STJ 23,555,052 10,412,338 19,555,431 28,490,523 21,348,462 26,835,780 27,566,985 St. Croix Rental Income STX KrauseLagoon Container Port 298,940 298,940 217,654 236,459 215,867 448,269 471,636 Other 76,066 76,066 92,059 90,559 86,308 107,004 79,268 Total Rental Income STX 375,006 375,006 309,713 327,018 302,175 555,273 550,904 Total Commission & Concession Fees STX 0 0 1,449 3,707 2,415 4,615 9,594 Marine Fees & Dues Pilotage 1,028,317 742,677 460,653 376,387 267,943 292,442 286,476 Ship DuesTonnage 626,004 508,141 574,284 708,941 471,964 455,103 487,226 Car Ferry Fees 0 0 0 0 900 20 144 Ferry Passenger Fees 186,313 0 93,566 192,668 138,040 128,645 0 Ship Dues & Fees 1,122,837 1,026,340 1,112,348 1,397,822 986,648 945,363 963,530 Docking Fees 459,861 308,482 360,678 423,228 526,712 277,217 198,103 Passenger Wharfage 193,917 97,385 200,532 143,675 133,895 0 Crane Rental Fees 54,970 54,970 54,970 54,970 53,443 52,352 52,352 Other 0 0 9,395 84,974 22,503 12,629 7,193 Total Marine Fees & Dues STX 3,672,219 2,640,610 2,763,279 3,439,522 2,611,828 2,297,666 1,995,024 - TOTAL ST.CROIX 4,047,225 3,015,616 3,074,441 3,770,247 2,916,418 2,857,554 2,555,522 Total Operating Revenues 13,427,954 22,629,872 32,260,770 24,264,880 29,693,334 30,122,507 Total Grants & other revenues $ - 27,602,277 - $ - $ - $ - $ - $ COMBINED TOTAL 27,602,277 13,427,954 22,629,872 32,260,770 24,264,880 29,693,334 30,122,507 VI Port Authority Marine Division Revenue Summary FY 2022 Budget 2022 Budget 2021 Projections 2020 U-aud. 2019 Actuals 2018 Actuals 2017 Actuals 2016 Actuals Rental Income 6,116,491 6,116,491 4,901,927 5,319,651 4,717,823 5,827,699 6,342,224 Commission & Concession Fees 819,245 819,245 772,773 265,080 146,788 394,614 638,721 Marine Fees & Dues 20,666,541 6,492,218 16,955,172 26,676,039 19,400,269 23,471,021 23,141,562 Revenue Increase 0 0 0 0 0 0 0 Total 27,602,277 13,427,954 22,629,872 32,260,770 24,264,880 29,693,334 30,122,507 Schedule 6 Vehicle Major Equip / FacIlities Upgrade Furniture, Fixtures & Equipment Total Operating Revenue PFC Revenue CFC Revenue Local VI Grant Grants Bond Financing Total Admin & Finance Desk for Management Asst. 5,000 5,000 5,000 5,000 Ford Escape 30,000 30,000 30,000 30,000 Sub Total - Admin & Finance STT 30,000 0 5,000 35,000 35,000 0 0 0 0 0 35,000 ARFF STT 6 DESKTOPS COMPUTERS 8,000 8,000 8,000 8,000 TAIT HAND HELD RADIOS X8 10,630 10,630 10,630 10,630 Ford Explorer Interceptor 66,700 66,700 66,700 66,700 Ford F250 pickup 48,800 48,800 48,800 48,800 ARFF QRV (Oshkosh Stinger) 410,000 410,000 410,000 410,000 ARFF Station repairs and maintenance 700,000 700,000 700,000 700,000 Security Camera system 60,000 60,000 60,000 60,000 Gate and building access system 25,998 25,998 25,998 25,998 Fire and carbon monoxide detection and alert system 20,000 20,000 20,000 20,000 REPLACE ALL FIRE HYDRANTS AT CEKA 60,000 60,000 60,000 60,000 Sub Total - ARFF STT 525,500 865,998 18,630 1,410,128 1,410,128 0 0 0 0 0 1,410,128 ARFF STX TOOLS AND EQUIPMENMT 15,000 15,000 15,000 15,000 ARFF CRASH TRUCK 3000 GALLON 4x4 1,000,000 0 1,000,000 1,000,000 1,000,000 ARFF QRV (Oshkosh Stinger) 410,000 0 410,000 410,000 410,000 FIRE SUPPRESSION AGENTS ( FOAM AND PURPLE K DRY CHEMICAL) 31,000 31,000 31,000 31,000 SELF CONTAINED BREATHING APPARATUS (SCBA) COMPLETE WITH CASES 129,000 129,000 129,000 129,000 RESCUE TOOLS BATTERY 46,000 46,000 46,000 46,000 ADDITIONAL GARAGE SPACE FOR BACKUP ARFF UNITS 100,000 100,000 100,000 100,000 SECONDARY EMERGENCY BACKUP GENERATOR FOR ARFF STATION 45,000 45,000 45,000 45,000 PROXIMITY GEARS (PERSONAL PROTECTIVE EQUIPMENT) 24,000 24,000 24,000 24,000 RADIOS (ARFF DEPT., ARFF UNITS, ARFF PERSONNEL) 30,000 30,000 30,000 30,000 INTERCOM SYSTEM FOR ARFF STATION 30,000 30,000 30,000 30,000 SECURITY ACCESS SYSTEM FOR ARFF STATION 25,000 25,000 25,000 25,000 CATWALK FOR ARFF STATION EMERGENCY GENERATOR 15,000 15,000 15,000 15,000 Sub Total - ARFF STX 1,410,000 475,000 15,000 1,900,000 1,900,000 0 0 0 0 0 1,900,000 Capital Expenditure Type Funding Source Schedule 7 Vehicle Major Equip / FacIlities Upgrade Furniture, Fixtures & Equipment Total Operating Revenue PFC Revenue CFC Revenue Local VI Grant Grants Bond Financing Total Capital Expenditure Type Funding Source Aviation STT PA-12 REPLACEMENT 45,000 45,000 45,000 45,000 FORD RANGER 40,000 40,000 40,000 40,000 PURCHASE OF BOOM MOWER 230,000 230,000 230,000 230,000 PURCHASE OF TRIPLE FLAIL MOWER 180,000 180,000 180,000 180,000 GENERAL AVIATION GUT EXCAVATION/CLEANING 650,000 650,000 650,000 650,000 VECTOR AIRPORT SYSTEMS 145,527 145,527 145,527 145,527 FLIGHT INFORMATION DISPLAY SYTEMS 15,000 15,000 15,000 15,000 DIGIGITAL DISPLAY BOARDS (AIRLINE TICKETING AREAS AND PRE-CLEARANCE) 150,000 150,000 150,000 150,000 ASPHALT CRACK SEALER 150,000 150,000 150,000 150,000 PUMP SYSTEMS 104,000 104,000 104,000 104,000 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-CEKA Terminal Transportation Center 15,090,000 15,090,000 1,090,000 2,400,000 700,000 10,900,000 15,090,000 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-Purchase of Fire Truck 750,000 750,000 750,000 750,000 (NEW) CIP-Rehab Twy A (Phase West) 8,000,000 8,000,000 800,000 7,200,000 8,000,000 (NEW) CIP-Runway Pavement Rehab 3,500,000 3,500,000 350,000 3,150,000 3,500,000 (NEW) CIP-Commuter Bag Belt Const. 1,727,531 1,727,531 172,753 1,554,778 1,727,531 (NEW) Land Purchase 3,700,000 3,700,000 3,700,000 - 3,700,000 (NEW) CIP-Apron Rehab Phase 1b 3,848,818 3,848,818 384,882 3,463,936 3,848,818 Sub Total - Aviation STT 835,000 47,298,989 0 48,133,989 9,612,482 2,400,000 700,000 0 35,421,507 0 48,133,989 Aviation STX Closure X's 40,000 40,000 40,000 40,000 2021 Ford Explorer 43,000 43,000 43,000 43,000 Vector Airport Systems 145,000 145,000 145,000 145,000 Flight Information Display Systems 15,000 15,000 15,000 15,000 Digital Display Boards (Airline Ticketing and Pre-Clearance Areas) 150,000 150,000 150,000 150,000 Main Terminal Sliding Doors 100,000 100,000 100,000 100,000 CIP-Passenger Charge Planning Support for HERA 30,000 30,000 15,000 15,000 30,000 CIP-Airfield Security Fence 100,000 100,000 10,000 90,000 100,000 CIP-Runway 10-28 Lighting and Shoulder Construction (Design Only) 9,153,921 9,153,921 100,000 9,053,921 9,153,921 CIP-HERA Terminal Expansion - Phase 1 1,000,000 1,000,000 1,000,000 1,000,000 CIP-Purchase of Fire Truck 750,000 750,000 750,000 750,000 (NEW) CIP-Airport Master Plan Update 300,000 300,000 30,000 270,000 300,000 (NEW) CIP-Taxiway A Rehab-Construction 4,504,592 4,504,592 450,460 4,054,132 4,504,592 Sub Total - Aviation STX 793,000 15,498,513 40,000 16,331,513 1,848,460 15,000 0 0 14,468,053 0 16,331,513 Schedule 7 Vehicle Major Equip / FacIlities Upgrade Furniture, Fixtures & Equipment Total Operating Revenue PFC Revenue CFC Revenue Local VI Grant Grants Bond Financing Total Capital Expenditure Type Funding Source Crown Bay RANGER PICKUP 40,000 - 40,000 40,000 40,000 PARKING LOT RESURFACING 400,000 400,000 400,000 400,000 SUPREME COURT GENERATOR 70,000 70,000 70,000 70,000 2021 Ford F-250 4x4 Utility Body 55,000 - 55,000 55,000 55,000 Sub Total - Crown Bay 95,000 470,000 0 565,000 565,000 0 0 0 0 565,000 Engineering STT Plotter 20,000 20,000 20,000 20,000 Conference Table/6 Chairs 15,750 15,750 15,750 15,750 Ford Ranger XLT 40,000 40,000 40,000 40,000 Sub Total - Engineering STT 40,000 0 35,750 75,750 75,750 0 0 0 0 0 75,750 Engineering STX Conference table, chairs, wall hangings, cabinets 0 12,000 12,000 12,000 12,000 PA17 Replacement 36,000 36,000 36,000 36,000 Sub Total - STX 36,000 0 12,000 48,000 48,000 0 0 0 0 0 48,000 Executive STT Laptop w/ Docking Stations 3,000 3,000 3,000 3,000 Laptop w/ Docking Stations and two-monitors 2,500 2,500 2,500 2,500 Ford Escape 30,000 30,000 30,000 30,000 Storage Facility near CEKA (Design and Permitting) 200,000 200,000 200,000 200,000 Storage Facility near HERA (Design and Permitting) 200,000 200,000 200,000 200,000 Design and Permitting for a small bulkhead at Lindbergh Bay 200,000 200,000 200,000 200,000 Sub Total - Executive STT 30,000 600,000 5,500 635,500 635,500 0 0 0 0 0 635,500 Executive STX Chairs and desks 6,000 6,000 6,000 6,000 Sub Total - Executive STX 0 0 6,000 6,000 6,000 0 0 0 0 6,000 Governing Board OFFICE FURNITURE 43,000 43,000 43,000 43,000 Sub Total - Governing Board 0 0 43,000 43,000 43,000 0 0 0 0 43,000 Human Resources SECURITY SYSTEM 14,000 14,000 14,000 14,000 OFFICE CHAIRS 5,000 5,000 5,000 5,000 INDUSTRIAL SHREDDER 5,000 5,000 5,000 5,000 Sub Total - Human Resources 0 0 24,000 24,000 24,000 0 0 0 0 0 24,000 Schedule 7 Vehicle Major Equip / FacIlities Upgrade Furniture, Fixtures & Equipment Total Operating Revenue PFC Revenue CFC Revenue Local VI Grant Grants Bond Financing Total Capital Expenditure Type Funding Source IT Phone sytems upgrades 85,000 85,000 85,000 85,000 Server and computer replacement with additional microsoft licenses 55,000 55,000 55,000 55,000 Wireless system replacement 30,000 30,000 30,000 30,000 Computer purchases. 20,000 20,000 20,000 20,000 install or upgrade PA systems at all VIPA ports 200,000 200,000 200,000 200,000 Sub Total - IT 0 390,000 0 390,000 390,000 0 0 0 0 0 390,000 Legal Office Chairs 1,500 1,500 1,500 1,500 Sub Total - Legal 0 0 1,500 1,500 1,500 0 0 0 0 1,500 Maintenance STT SURVEILLANCE MONITOR/TV 1,200 1,200 1,200 1,200 WORKBENCH 1,500 1,500 1,500 1,500 (3) FORD TRUCKS 135,000 135,000 135,000 135,000 ADDITIONAL ADD-IN EXT. LIGHTS 20,000 20,000 20,000 20,000 ENTRY DOOR KEYPAD SET UP 19,075 19,075 19,075 19,075 MAINTENANCE BUILDING WIFI INSTALL 10,000 10,000 10,000 10,000 Sub Total - Maintenance STT 135,000 49,075 2,700 186,775 186,775 0 0 0 0 0 186,775 Maintenance STX (3) DESKTOP COMPUTERS 4,500 4,500 4,500 4,500 5- OFFICE GUEST CHAIRS 900 900 900 900 LATERAL 4-DRAW CABINET 480 480 480 480 3- DESK CHAIRS 750 750 750 750 2- U-SHAPED DESK WITH STORAGE - 3,260 3,260 3,260 3,260 OFFICE DESK - 650 650 650 650 FORD TRUCK 46,200 46,200 46,200 46,200 2021 Chev. Colorado Crew Cab 36,000 36,000 36,000 36,000 2021 Chev. Colorado Crew Cab 36,000 36,000 36,000 36,000 Scagg Zero Turn Mower, 21,090 21,090 21,090 21,090 Sub Total - Maintenance STX 118,200 21,090 10,540 149,830 149,830 0 0 0 0 0 149,830 Schedule 7 Vehicle Major Equip / FacIlities Upgrade Furniture, Fixtures & Equipment Total Operating Revenue PFC Revenue CFC Revenue Local VI Grant Grants Bond Financing Total Capital Expenditure Type Funding Source Marine STT/STJ Lap Tops for the Marine Administrative Office 2,000 2,000 2,000 2,000 2021 Ranger Supr Cab XLT 4X4 40,000 40,000 40,000 40,000 (3) Golf Carts 31,716 31,716 31,716 31,716 Refurbishsing of the Boat Crew Quarters bathroom 10,000 10,000 10,000 10,000 Replace all 64 benches throughout the Urman V. Fredericks Marine Terminal in Red Hook 65,726 65,726 65,726 65,726 Crown Bay Cruise Ship Dock Fendering 100,000 100,000 100,000 100,000 Home Port Dock Fendering 15,000 15,000 15,000 15,000 Red Hook replacement of damaged fendering of barge & ferry terminal 15,000 15,000 15,000 15,000 AED Difibrulator 18,000 18,000 18,000 18,000 St. John Cleats 125,000 125,000 125,000 125,000 Red Hook Cleats 125,000 125,000 125,000 125,000 Long Bay DD Fendering & Arch Fendering Material and Installation 300,000 300,000 300,000.00 300,000 Aids to Navigations - Red Hook 60,126 60,126 60,126 60,126 Aids to Navigations - Cruz Bay 97,907 97,907 97,907 97,907 Guttering and Spouting of Red Hook Marine Terminal 45,000 45,000 45,000 45,000 CIP-Red Hook Customs Building (FIS) 5,400,000 5,400,000 3,200,000 2,200,000 5,400,000 CIP-Dredging for Quatum Class and Notch Closure 15,531,557 15,531,557 13,978,401 13,978,401 CIP-Dredging of Channel and Turning Basin to Accommodate Oasis Class 23,675,937 23,675,937 21,308,343 21,308,343 CIP-Loredon Boynes Dock Terminal Improvements (Restroom and Awnings Only) 900,000 900,000 900,000.00 900,000 (NEW) CIP-Fish Market-STJ 50,000 50,000 50,000 50,000 (NEW) CIP-Red Hook Rest Rooms 150,000 150,000 150,000 150,000 Sub Total - Marine STT 71,716 46,684,253 2,000 46,757,969 950,475 0 0 1,200,000 38,486,744 2,200,000 42,837,219 Marine STX (ADD.) PA SYSTEM 6,000 6,000 6,000 6,000 (3) CHEVY COLORADO - CHIEF WHARFINGER, DOCKMASTERS, CARETAKERS 141,000 141,000 141,000 141,000 CIP-Schooner Bay Channel Dredging (Construction) 8,641,525 8,641,525 500,000 7,000,000 1,141,525 8,641,525 CIP-Gordon Finch Molasses Pier 7,000,000 7,000,000 1,400,000 5,600,000 7,000,000 (NEW) CIP-Environmental Monitoring 500,000 500,000 500,000 500,000 (NEW)CIP-Tender Pier/Frderiksted 2,150,000 2,150,000 100,000 2,050,000 2,150,000 (NEW) CIP-Blow-Out Pannel Fredriksted 600,000 600,000 200,000 400,000 600,000 Sub Total - Marine STX 141,000 18,891,525 6,000 19,038,525 2,347,000 0 0 2,950,000 12,600,000 1,141,525 19,038,525 Schedule 7 Vehicle Major Equip / FacIlities Upgrade Furniture, Fixtures & Equipment Total Operating Revenue PFC Revenue CFC Revenue Local VI Grant Grants Bond Financing Total Capital Expenditure Type Funding Source 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 Traffic Control Devices 500 500 500 500 Golf Cart 13,000 13,000 13,000 13,000 Security Camera System 25,000 25,000 25,000 25,000 Sub Total - Parking Lot STX 13,000 25,000 7,000 45,000 45,000 0 0 0 0 0 45,000 Parking Lot STX Office Desk 3,000 3,000 3,000 3,000 Traffic Control Devices 500 500 500 500 Golf Cart 13,000 13,000 13,000 13,000 CCTV System 25,000 25,000 25,000 25,000 Sub Total - Parking Lot STX 0 38,000 3,500 41,500 41,500 0 0 0 0 0 41,500 Police STT FORD EXPLORER 66,700 66,700 66,700 66,700 (3) FORD -F150 208,500 208,500 208,500 208,500 FORD F-550 98,955 98,955 98,955 98,955 - - - Sub Total - Police STT 374,155 0 0 374,155 374,155 0 0 0 0 374,155 Police STX (4) Office Desks 8,000 8,000 8,000 8,000 (3) Drawer file cabinet 3,000 3,000 3,000 3,000 Sub Total - STX 0 0 11,000 11,000 11,000 0 0 0 0 0 11,000 Property Management STT FORD ESCAPE 30,000 30,000 30,000 30,000 Sub Total - Property Management STT 30,000 0 0 30,000 30,000 0 0 0 0 0 30,000 Property Management STX PROPERTY APPRAISALS 20,000 20,000 20,000 20,000 FORD ESCAPE ES 28,900 0 28,900 28,900 28,900 Sub Total - Property Management STX 28,900 20,000 0 48,900 0 48,900 0 0 0 0 0 48,900 Schedule 7 Vehicle Major Equip / FacIlities Upgrade Furniture, Fixtures & Equipment Total Operating Revenue PFC Revenue CFC Revenue Local VI Grant Grants Bond Financing Total Capital Expenditure Type Funding Source Public Relations TELEVISION 600 600 600 600 PA SYSTEM 1,500 1,500 1,500 1,500 2021 Ford Escort 30,000 30,000 30,000 30,000 Sub Total - Public Relations 30,000 0 2,100 32,100 32,100 0 0 0 0 0 32,100 Purchasing STT Electrical Jack (1) 34,000 34,000 34,000 34,000 FORD ESCAPE 30,000 30,000 30,000 30,000 Sub Total - Purchasing STT 30,000 0 34,000 64,000 64,000 0 0 0 0 0 64,000 Purchasing STX Office furnitrue(guest chairs, file cabinets) 2,000 2,000 2,000 2,000 Lift Table 600 600 600 600 Pallet Truck 1,000 1,000 1,000 1,000 Storage bins 600 600 600 600 Industrial warehouse floor fans 500 500 500 500 Hand truck 300 300 300 300 Electric Stacker 6,000 6,000 6,000 6,000 Computer 1,500 1,500 1,500 1,500 Laptop 6,000 6,000 6,000 6,000 Sub Total - Purchasing STX 0 0 18,500 18,500 18,500 0 0 0 0 18,500 Grand Total 4,766,471 131,327,443 303,720 136,397,634 20,894,055 2,415,000 700,000 4,150,000 100,976,304 3,341,525 132,476,884 Schedule 7 Vehicle Major Equip / FacIlities Upgrade Furniture, Fixtures & Equipment Total Operating Revenue PFC Revenue CFC Revenue Local VI Grant Grants Bond Financing Total Capital Expenditure Type Funding Source Marine CIP - Grant Application Process *CIP-Red Hook Customs Building (FIS) 5,400,000 5,400,000 3,200,000 2,200,000 5,400,000 *CIP-Dredging for Quatum Class and Notch Closure 15,531,557 15,531,557 1,553,156 13,978,401 15,531,557 *CIP-Dredging of Channel and Turning Basin to Accommodate Oasis Class 23,675,937 23,675,937 2,367,594 21,308,343 23,675,937 Sub Total - Purchasing STX 0 44,607,494 0 44,607,494 3,920,750 0 0 0 38,486,744 2,200,000 44,607,494 *The projects listed above are currently in the early stages of the application process and VIPA match funding will be applied at a later date. Expected project start date is not until September FY2022/FY2023 Summary Aviation 3,576,500 64,201,500 84,130 67,862,130 14,857,570 2,415,000 700,000 0 49,889,560 0 67,862,130 Marine 307,716 66,045,778 8,000 66,361,494 3,862,475 0 0 4,150,000 51,086,744 3,341,525 62,440,744 Admin & Gen 882,255 1,080,165 211,590 2,174,010 2,174,010 0 0 0 0 0 2,174,010 Total 4,766,471 131,327,443 303,720 136,397,634 20,894,055 2,415,000 700,000 4,150,000 100,976,304 3,341,525 132,476,884 3.60% 99.13% 0.23% 102.96% 15.77% 1.82% 0.53% 3.13% 76.22% 2.52% 100.00% STT/STJ Aviation 1,373,500 48,189,987 25,630 49,589,117 11,067,610 2,400,000 700,000 0 35,421,507 0 49,589,117 Marine 166,716 47,154,253 2,000 47,322,969 1,515,475 0 0 1,200,000 38,486,744 2,200,000 43,402,219 Admin & Gen 699,155 1,039,075 153,550 1,891,780 1,891,780 0 0 0 0 0 1,891,780 Total 2,239,371 96,383,315 181,180 98,803,866 14,474,865 2,400,000 700,000 1,200,000 73,908,251 2,200,000 94,883,116 46.98% 73.39% 59.65% 72.44% 69.28% 99.38% 100.00% 73.19% 65.84% 71.62% STX Aviation 2,203,000 16,011,513 58,500 18,273,013 3,789,960 15,000 0 0 14,468,053 0 18,273,013 Marine 141,000 18,891,525 6,000 19,038,525 2,347,000 0 0 2,950,000 12,600,000 1,141,525 19,038,525 Admin & Gen 183,100 41,090 58,040 282,230 282,230 0 0 0 0 0 282,230 Total 2,527,100 34,944,128 122,540 37,593,768 6,419,190 15,000 0 2,950,000 27,068,053 1,141,525 37,593,768 53.02% 26.61% 40.35% 27.56% 30.72% 0.62% 0.00% 26.81% 34.16% 28.38% Schedule 7 VI Port Authority Payroll Cost Summary Fiscal Years Ending September 30 Lin FY 2022 Bdgt FY 2021 Unaud. FY 2020 Un. FY 2019 Act FY 2018 Act FY 2017 Act 1 Aviation 2 Salaries and Wages 5,072,081 3,902,428 3,387,219 3,175,223 3,227,268 3,331,390 3 Retroactive & Severance 90,000 47,603 41,494 65,293 40,348 83,649 4 Overtime 402,000 397,883 238,338 312,268 276,983 277,546 5 Payments to Employees 5,564,081 4,347,914 3,667,051 3,552,784 3,544,599 3,692,585 6 FICA Taxes 349,844 332,411 280,013 271,187 274,511 281,720 7 Retirement Fund 1,039,599 943,339 781,782 591,507 688,678 626,663 8 Medical/Dental/Life Insurance 1,527,111 1,474,384 1,294,981 1,078,501 1,149,911 1,400,798 9 Workmen's Compensation 26,644 35,691 16,222 26,958 20,751 19,748 Lump Sum 650,000 0 10 Total Aviation Payroll Expenses 9,157,279 7,133,739 6,040,049 5,520,937 5,678,450 6,021,514 12 Marine 13 Salaries and Wages 5,170,036 4,601,413 4,367,246 4,175,817 4,079,093 4,237,936 14 Retroactive & Severance 90,000 118,466 (1,856) 32,413 69,237 81,099 15 Overtime 1,404,000 298,728 1,416,535 1,580,333 1,114,859 959,381 16 Payments to Employees 6,664,036 5,018,607 5,781,925 5,788,563 5,263,189 5,278,416 17 FICA Taxes 356,927 356,220 387,252 353,003 332,623 338,850 18 Retirement Fund 941,780 892,295 804,730 647,827 632,885 658,248 19 Medical/Dental/Life Insurance 1,224,932 1,325,305 1,167,636 975,625 1,045,458 1,308,633 20 Workmen's Compensation 20,639 34,030 31,107 25,704 19,787 18,414 Lump Sum 635,000 0 21 Total Marine Payroll Expenses 9,843,314 7,626,457 8,172,650 7,790,722 7,293,942 7,602,561 23 Support Services 24 Salaries and Wages 11,171,522 7,355,452 7,779,638 7,035,762 6,505,225 6,608,736 25 Retroactive & Severance 70,000 111,076 175,066 251,034 179,880 379,525 26 Overtime 401,000 323,795 527,296 287,136 255,058 306,061 27 Payments to Employees 11,642,522 7,790,323 8,482,000 7,573,932 6,940,163 7,294,322 28 FICA Taxes 741,196 589,717 672,852 617,530 606,174 671,168 29 Retirement Fund 1,995,976 1,542,077 1,609,425 1,470,575 1,374,255 1,546,679 30 Medical/Dental/Life Insurance 2,646,573 2,568,305 2,500,332 2,099,170 2,273,131 2,974,682 31 Workmen's Compensation 44,161 91,153 74,056 68,182 45,512 41,263 Lump Sum 1,400,000 32 Total Support Payroll Expenses 18,470,428 12,581,575 13,338,665 11,829,389 11,239,235 12,528,114 34 36 Total VIPA Payroll Expenses 37 Salaries and Wages 21,413,639 15,859,293 15,534,103 14,386,802 13,811,586 14,178,062 38 Retroactive & Severance 250,000 277,145 214,704 348,740 289,465 544,273 39 Overtime 2,207,000 1,020,406 2,182,169 2,179,737 1,646,900 1,542,988 40 Payments to Employees 23,870,639 17,156,844 17,930,976 16,915,279 15,747,951 16,265,323 41 FICA Taxes 1,447,967 1,278,348 1,340,117 1,241,720 1,213,308 1,291,738 42 Retirement Fund 3,977,355 3,377,711 3,195,937 2,709,909 2,695,818 2,831,590 43 Medical/Dental/Life Insurance 5,398,616 5,367,994 4,962,949 4,153,296 4,468,500 5,684,113 44 Workmen's Compensation 91,444 160,874 121,385 120,844 86,050 79,425 Lump Sum 2,685,000 0 0 0 0 0 45 Total Expenses 37,471,021 27,341,771 27,551,364 25,141,048 24,211,627 26,152,189 Payroll Cost Summary ($1,000's) FY 2022 Bdgt FY 2021 Unaud. FY 2020 Un. FY 2019 Un. FY 2018 Act FY 2017 Act Salaries & Wages 21,414 15,859 15,534 14,387 13,812 14,178 Overtime & Other Pay 2,457 1,298 2,397 2,528 1,936 2,087 Payments to Employees 23,871 17,157 17,931 16,915 15,748 16,265 FICA, Retirement & Wkrs Comp 5,517 4,817 4,657 4,072 3,995 4,203 Medical/Dental/Life Insurance 5,399 5,368 4,963 4,153 4,469 5,684 Lumpsum 2,685 0 0 0 0 0 Total Expenses 37,472 27,342 27,551 25,140 24,212 26,152 Schedule 8