CleanPowerSF Sfpuc Commission
April 12, 2022

Hetchy Power facilitates all electric and gas service connections between PG&E and City departments.

In this capacity, Hetchy Power facilitates and coordinates the terms and payment for the service connections that are performed by PG&E. As of June 30, 2021 and 2020, there was no outstanding amount due from C ity departments related to this work. In the event Hetchy Power received money from PG&E after project completion, monies are to be refunded to the City departments for their respective credits.

Due from other City departments was $12,406 and $13,369 with elimination of $0 and $1,800 working capital loan to CleanPowerSF for the years ended June 30, 2021 and 2020, respectively.

Hetchy Power serves as the City’s department for energy efficiency projects and maintains the Sustainable Energy Account (SEA) (formerly known as the Mayor’s Energy Conservation Account) fund to sponsor and financially support such projects at various City departments. In this role, Hetchy Power may secure low -interest financing to supplement funds available in the SEA fun d. At June 30, 2021 and 2020, projects completed or under way throughout the City amounted to $4,556 and $5,062, respectively, and are recorded as due from other government agencies.

Hetch Hetchy funded a project for the Treasure Island Development Author ity and recorded a receivable in connection with an upgraded submarine power cable for the Treasure Island as due from other government agencies. This amount totaled $6,627 and $6,581 for the years ended June 30, 2021 and 2020, respectively.

As of June 30, 2021 and 2020, Hetchy Power recorded receivables of $739 and $847, respectively, due from Wastewater Enterprise for its share of costs relating to SFPUC Headquarters Living Machine System. Details of due from other City departments are as follows:

2021 2020
Treasure Island Development Authority $ 6,627 6,581
SEA-related projects - Moscone Center 4,556 5,062
Wastewater - 525 Golden Gate Headquarters Project 739 847 San Francisco Recreation and Park 419 524
City Attorney Office — 331
Department of Public Works 65 24
Total due from other City departments 12,406 13,369
Less: current portion (7,413) (1,074)
Long-term portion as of June 30, net $ 4,993 12,295

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2021 and 2020
(Dollars in thousands, unless otherwise stated)

156 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

As of June 30, 2021, Hetchy Power had payable of $369 to the Port of San Francisco for Pier 70 Shoreside Power Project. As of June 30, 2020, Hetchy Power had payables in the amount of $600, of which $369 to the Port of San Francisco for Pier 70 Shoreside Power Project and $231 to the City Attorney’s Office for legal services.

CleanPowerSF

As of June 30, 2021, and 2020, operating revenue in sales of power to Hetchy Power were $1,072 and $694, respectively. Operating expenses in purchase of power from Hetchy Power were $2,456 and $339, respectively. Wholesale sales of energy, capacity and/or other electric power related products may be made between the CleanPowerSF and Hetchy Power, when available. CleanPowerSF and Hetchy Power transact for such products at prevailing market prices.

A variety of City departments provide direct services such as engineering, purchasing, legal, data processing, telecommunication, and human resources to CleanPowerSF and charge amounts designed to recover those departments’ costs. The se charges totaling approximately $3,928 and $2,728 for the years ended June 30, 20 21 and 2020, respectively, have been included in services provided by other departments in the accompanying financial statements.

CleanPowerSF received program support services from Hetchy Power. This amount totaled $2,224 and $1,685 for the years ended June 30, 2021 and 2020, respectively.

CleanPowerSF had $0 and $9 in payable due to the other City departments for legal services as of June 30, 2020 and 2019, respectively.

(14) Risk Management

The SFPUC’s Risk Management program includes both self -insured (i.e., self -retention) and insured exposures at risk. Risk assessments and purchasing of insurance coverage are collaborat ively coordinated by SFPUC Enterprise Risk Management and the City’s Office of Risk Management. With certain exceptions, the City and the SFPUC’s general approach is to first evaluate the exposure at risk for self-insurance. Based on this analysis, interna l mitigation strategies and financing through a self - retention mechanism are generally more economical as the SFPUC in coordination with the City Attorney’s Office administers, adjusts, settles, defends, and pays claims from budgeted resources (i.e., pay -as-you-go fund). When economically more viable or when required by debt financing covenants, the SFPUC obtains commercial insurance. At least annually, the City actuarially determines general liability and workers’ compensation risk exposures. The SFPUC does not maintain commercial earthquake coverage, with certain minor exceptions, such as a sub -limit for fire-sprinkler leakage due to earthquake under the SFPUC Property Insurance program. In the past three years, there was no settlements that exceeded insurance coverage.

Risks
(a) General liability Self-Insured
(b) Workers’ compensation Self-Insured through Citywide Pool (c) Property Purchased Insurance and Self-Insured
(d) Public officials liability Purchased Insurance
(e) Employment practices liability Purchased Insurance
(f) Cyber Liability Purchased Insurance
(g) Crime Purchased Insurance
(h) Electronic data processing Purchased Insurance and Self-Insured (i) Surety bonds Purchased and Contractual Risk Transfer (j) Errors and omissions Purchased and Contractual Risk Transfer (k) Builders’ risk Contractual Risk Transfer
Coverage Approach

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2021 and 2020
(Dollars in thousands, unless otherwise stated)

157 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

a) General Liability
Through coordination with the Controller and the City Attorney’s Office, the general liability risk exposure is actuarially determined and is addressed through pay -as-you-go funding as part of the budgetary process. Associated costs and estimates are booke d as expenses as required under GAAP for financial statement purposes for both the SFPUC and the City and County of San Francisco’s Annual Comprehensive Financial Report. The claim expense allocations are determined based on actuarially determined anticipa ted claim payments and the projected timing of disbursement.

The changes for the general liability (damage claims) for the years ended June 30, 20 21 and 2020 are as follows:

b) Workers’ Compensation
The City actuarially determines and allocates workers’ compensation costs to the SFPUC according to a formula based on the following: (i) the dollar amount of claims; (ii) yearly projections of payments based on historical experience; and (iii) the size of the SFPUC’s payroll.

The administration of wo rkers’ compensation claims and payouts are handled by the Workers’ Compensation Division of the City’s Department of Human Resources. Statewide workers’ compensation reforms have resulted in budgetary savings in recent years. The City continues to develop and implement improved programs, such as return -to-work programs, to lower or mitigate the growth of workers’ compensation costs. Programs include accident prevention, investigation, and duty modification for injured employees with medical restrictions so return to work can occur as soon as possible.

The changes in the liabilities for workers’ compensation for the years ended June 30, 20 21 and 2020 are as follows:

Water Wastewater
Hetchy
Water
Hetchy
Power CleanPowerSF
SFPUC
Total
Beginning of year $ 10,767 15,891 558 2,222 106 29,544
Claims and changes in estimates 27,643 6,428 478 4,212 153 38,914 Claims paid (1,687) (5,606) (511) (5,326) (253) (13,383) End of year $ 36,723 16,713 525 1,108 6 55,075
Water Wastewater
Hetchy
Water
Hetchy
Power CleanPowerSF
SFPUC
Total
Beginning of year $ 11,509 16,368 224 2,053 7 30,161
Claims and changes in estimates 709 1,952 550 9,182 307 12,700 Claims paid (1,451) (2,429) (216) (9,013) (208) (13,317) End of year $ 10,767 15,891 558 2,222 106 29,544
2021
2020
Water Wastewater
Hetchy
Water
Hetchy
Power
SFPUC
Total
Beginning of year $ 9,174 6,051 1,187 2,200 18,612
Claims and changes in estimates 1,912 2,616 18 95 4,641 Claims paid (2,258) (2,085) (85) (177) (4,605)
End of year $ 8,828 6,582 1,120 2,118 18,648
2021*

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2021 and 2020
(Dollars in thousands, unless otherwise stated)

158 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* CleanPowerSF had no workers’ compensation liability as of June 30, 2021 and 2020.

c) Property
The SFPUC’s property risk management approach varies depending on whether the facility is currently under construction, the property is part of revenue-generating operations, the property is of high value, or is mission -critical in nature. During the course of construction, the SFPUC requires each contractor to provide its own insurance, while ensuring the full scope of work be covered with satisfactory levels to limit the SFPUC’s risk exposure. Once construction is complete, the SFPUC performs an assessment to determine whether liability/loss coverage will be obtained through the commercial property policy or self -insurance. The majority of property scheduled in the insurance program is for: 1 . revenue generating facilities, 2 . debt financed facilities, 3. mandated coverage to meet statutory requirements for bonding of various public officials, or 4. high-value, mission-critical property or equipment.

d) Public Officials Liability
All SFPUC public officials with financial oversight responsibilities are provided coverage through a commercial Public Officials Liability Policy.

e) Employment Practices Liability
An Employment Practices Liability Policy is retained to protect against employment -related claims and liabilities.

f) Cyber Liability
A Cyber Liability Policy is retained to protect against cyber-related claims and liabilities.

g) Crime
The SFPUC also retains a Commercial Crime Policy, in lieu of bonding its employees, to provide coverage against liabilities or losses due to third-party crime or employee fraud.

h) Electronic Data Processing
The Electronic Data Processing policy protects selected high-value electronic property in case of damage or loss.

i) Surety Bonds
Bonds are require d in most phases of the public utilities construction contracting process for such phases as bid, performance, and payment or maintenance. Additionally, bonds may be required in other contracts where goods or services are provided to ensure compliance with applicable terms and conditions such as warranty.

j) Errors and Omissions
Errors and omissions , also known as Professional Liability, are commonly transferred through contract to the contracted professional, or retained through self insurance on a case -by-case Water Wastewater
Hetchy
Water
Hetchy
Power
SFPUC
Total
Beginning of year $ 10,336 5,914 1,238 2,261 19,749
Claims and changes in estimates 1,065 1,932 75 261 3,333 Claims paid (2,227) (1,795) (126) (322) (4,470)
End of year $ 9,174 6,051 1,187 2,200 18,612
2020*

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2021 and 2020
(Dollars in thousands, unless otherwise stated)

159 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

basis depending on the size, complexity, or scope of construction or professional service contracts. Examples of such contracts are inclusive of services provided by engineers, architects, design professionals, and other licensed or certified professional service providers.

k) Builders’ Risk
Builders’ Risk policies of insurance are required to be provided by the contractor on all construction projects for the full value of construction.

l) Energy Risk Management
Similar to other electric utilities with a heavy reliance on hydroelectric generation, Hetch Hetch y is exposed to risks that could impact its ability to generate net revenues to fund operating and capital investment activities. Hydroelectric generation facilities in the Sierra Nevada are the primary source of electricity for Hetch Hetchy. For this reas on, the Hetch Hetchy revenues can vary with watershed hydrology, unexpected generator outages, and market prices for energy.

Given the inherent risk for all hydroelectric generation, several risk management interventions have been developed to mitigate exposure.

m) Enterprise Risk Management
The Power Enterprise adopted the ISO 31000 standard for Hetchy Power and the CleanPowerSF program as the framework for implementing Enterprise Risk Management (ERM). The SFPUC utilizes this framework to systematically and proactively identify and mitigate risk s that threatens its business objectives. Since not all risks are insurable or transferable contractually, the ERM program provides an additional method to manage risks and protect the SFPUC’s current and expanding business allowing for increased operation al resiliency and the ability to capitalize on opportunities.

(15) Commitments and Litigation

a) Commitments

SFPUC has outstanding commitments with third parties for various capital projects and other purchase agreements for materials and services. As of June 30, 2021 and 2020, the Water Enterprise had outstanding commitments with third parties of $185,161 and $208,832, respectively. As of June 30, 202 1 and 20 20, the Wastewater Enterprise had outstanding commitments with third parties of $633,255 and $453,061, respectively. As of June 30, 202 1 and 20 20, Hetch Hetchy ha d outstanding commitments with third parties of $143,404 and $103,508, respectively.

Hetchy Water

To meet certain requirements of the Don Pedro Reservoir operating license, the City entered into an agreement with the Modesto Irrigation District (MID) and Turlock Irrigation District (TID) in which the Districts would be responsible for an increase in water flow releases from the reservoir in exchange for annual payments from the City, which are included in Hetchy Water’s operating expenses. The payment amounts were $5,069 and $4,979 for fiscal years 2021 and 2020, respectively. The payments are to be made for the duration of the license, but may be terminated with one year’s prior written notice after 2001. The City and the Districts have also agreed to monitor the fisheries in the lower Tuolumne River for the duration of the license. A maximum monitoring expense of $1,400 is to be shared between the City and the Districts over the term of the license. The City’s share of the monitoring costs is 52%, while the Districts are responsible for 48% of the costs.

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2021 and 2020
(Dollars in thousands, unless otherwise stated)

160 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

Hetchy Power

Wholesale Distribution Tariff (WDT) and Key Operating Agreements for Grid Access Upon expiration of the City’s previous Interconnection Agreement with PG&E, the City began taking service in 2015 under the Wholesale Distribution Tariff (WDT) for distribution service and under the CAISO Open-Access Transmission Tariff for transmission service. The FERC -regulated Wholesale Distribution Tariff is implemented by PG&E through the City specific Service Agreements and Interconnection Agreements. The terms of these agreements have been in contention since the effective date. The City continues to negotiate with PG&E and, where necessary, file complaints and protests at FERC. In September 2020, PG&E filed a revised WDT.

Under the terms of the new WDT, the City would pay substantially hig her rates, at least twice to potentially four times the current charges, and be required to install costly and inefficient equipment not needed for technical, safety or reliability of operations. In addition, Hetchy Power would no longer be allowed to connect to the “network” grid in the center of San Francisco; have new secondary interconnections; and/or serve any small, typically unmetered loads, such as streetlights, traffic signal and bus shelters.

Staff prepare regular reporting to the Board of Super visors outlining on -going disputes with PG&E over project requirements, costs and delays. During fiscal years 2021 and 2020, Hetchy Power purchased distribution services for $8,868 and $9,270, respectively, from PG&E under the terms of the Service Agreements and Interconnection Agreements that implement the WDT.

The City continues to litigate and dispute these terms at FERC and in the court systems; and pursue the purchase of the electric grid in San Francisco.

Western System Power Pool and other Market Purchases and Sales Hetchy Power may purchase or sell energy and other related products (such as ancillary services, spinning reserves, resource adequacy products, and congestion revenue rights) with different market entities through the Western System Power Pool (WSPP) and the CAISO. During fiscal years 2021 and 2020, Hetchy Power purchased $0 and $2,041 of power and other related products, respectively. Sales of excess power, after meeting Hetch Hetchy’s obligations, were $469 or 110,043 MWh for 2021 and $3,105 or 134,574 MWh for 2020, respectively.

Power Purchase Agreement (PPA)
Hetchy Power (Buyer) purchases energy, capacity, and environmental attributes from a local solar photovoltaic project located at Sunset Reservoir (the facility) pursuant to the 2009 25-year PPA with SFCit y1, LP, owned by Duke Energy (Seller). In November 2010, the facility commenced commercial operation and began to provide Hetchy Power energy generated by the facility.

The PPA sets the starting purchase price of generated energy at $235/MWh, increasing b y 3% each year throughout the term of the agreement, and it is expected that the facility will generate 6,560 MWh per year. In fiscal year 2021, the facility generated 6,598 MWh and the rate was at $324/MWh. In the event that the facility generates more en ergy than expected due to better than normal meteorological conditions, the PPA requires the Buyer to purchase all the excess energy but generation in excess of 120% of expected is purchased at no cost. The PPA also requires the Seller to generate a minimum amount of energy from the facility annually. If energy production falls below 50% of expected, the Seller must provide replacement power, and if energy falls below 90% of expected, the price for energy generated is lowered. In fiscal years 2021 and 2020, purchases of energy under the Agreement were $2,127, or 6,598 MWh, and $2,135, or 6,877 MWh, respectively.

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2021 and 2020
(Dollars in thousands, unless otherwise stated)

161 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

CleanPowerSF

CleanPowerSF began serving customers in May 2016 and entered into contracts with Calpine Energy Services L.P. (Calpine) and Shiloh I Wind Project LLC (Shiloh) to purchase renewable and conventional energy and resource adequacy capacity to meet its retail sales obligations. Both contracts feature 10 -year master agreements under which multiple transactions may be executed. Calpine did not have any reserve balance requirement in fiscal years 2021 and 2020.

Since its launch, CleanPowerSF has added multiple additional short -term and medium -term contracts with multiple counterparties pursuant to master agreements, including the WSPP Master Agreement, to purchase renewable, carbon -free, and conventional energy and resource adequacy capacity, as well as long -term contracts for renewable energy and capacity with renewable energy developers sPower, Terra -Gen, NextEra and EDF Renewables. Th ese contracts have been entered to allow CleanPowerSF to both meet its existing retail sales obligations and to support future retail sales from the citywide enrollment into the CleanPowerSF program. Citywide enrollment was substantively completed with the enrollment of residential accounts in April 2019. The total power purchase cost, net of wholesale sales, equaled $188,533 and $174,432 in fiscal years 2021 and 2020, respectively.

CleanPowerSF entered into a contract with Noble Americas Energy Solutions in November 2015 for a three-year term, not to exceed $5,600 to provide data management, billing administration and customer care services. On December 1, 2016, Noble Americas Energy Solutions was acquired by Calpine Corporation and was renamed Calpine Ene rgy Solutions. Subsequently, CleanPowerSF’s contract was assigned to Calpine Energy Solutions under its new name and ownership. In August 2018, CleanPowerSF exercised its option under the contract to extend the term for three years, through October 31, 202 1, and increased the contract’s not -to-exceed value to $18,769. During fiscal years 2021 and 2020, amounts paid were $6,664 and $6,240, respectively.

CleanPowerSF Power Purchase Agreement (PPA)
In November 2020, CleanPowerSF executed a Power and Storage P urchase Agreement to purchase solar product and storage product from a solar powered generation facility and battery storage facility located at Livermore pursuant to the 25-year PPA with IP Aramis, LLC (Seller). As of June 30, 2021, CleanPowerSF received cash collateral of $9,000 for Development Assurance and Performance Assurance from the Seller.

CleanPowerSF Guarantee
In March 2018, CleanPowerSF entered into a five -year, $75,000 Credit Agreement with JPMorgan Chase Bank, National Association (“Bank”) to provide letters of credit or loans from the Bank to guarantee certain power purchase agreement payment obligations of CleanPowerSF and to meet working capital needs, if necessary. The Credit Agreement is secured by CleanPowerSF’s net revenues; there is no pledge of or lien on net revenues that ranks senior to the obligations under the Credit Agreement. The Bank issued let ters of credit in the face amounts totaling $13,810 and $17,985 for fiscal years ending June 30, 2021 and 2020, respectively. CleanPowerSF did not draw on the Credit Agreement during fiscal years 2021 and 2020. Accordingly, the uncommitted credit capacity under the Credit Agreement was $61,190 and $57,015 during fiscal years 2021 and 2020, respectively.

Financial covenants include that CleanPowerSF maintain a Debt Service Coverage Ratio as defined in the Credit Agreement of not less than 1.05 for each fiscal quarter, as determined for the four consecutive fiscal quarter periods ended on the last day of such fiscal quarter. As of June 30, 2021, CleanPowerSF was not in compliance with this financial covenant as calculated for the four consecutive fiscal q uarters ended on such date, resulting in a covenant event of

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2021 and 2020
(Dollars in thousands, unless otherwise stated)

162 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

default under the Credit Agreement. In connection with subsequent amendments to the Credit Agreement, JPMorgan Chase granted a waiver of such event of default for the period ended June 30, 2021. See Note 16(g), Subsequent Events, for additional details. CleanPowerSF was in compliance with other covenants and requirements of the Credit Agreement as of June 30, 2021.

GASB Statement No. 88, Certain Disclosures Related to Debt, Including Direct Borro wings and Direct Placements , requires the disclosure of certain information related to debt, including unused letters of credit. Significant events of default under the Credit Agreement, include 1) non-payment, 2) material breach of warranty, representatio n, or other non -remedied breach of covenants as specified in the agreement and 3) bankruptcy and insolvency events, which could result in all outstanding loans under the Credit Agreement to be immediately due and payable; or the immediate termination of the Bank’s commitment to issue letters of credit or make loans under the Credit Agreement.

b) Grants
Grants that the SFPUC received are subject to audit and final acceptance by the granting agency. Current and prior year costs of such grants are subject to adjustment upon audit.

c) Litigation
The SFPUC is a defendant in various legal actions and claims that arise during the normal course of business. The final disposition of these legal actions and claims is not determinable.

However, in the opinion of management, the outcome of any litigation of these matters will not have a material effect on the financial position or changes in net position of SFPUC.

d) Environmental Issue

Water
As of June 30, 2021 and 2020, the Water Enterprise recorded $1,271 and $1, 577 in pollution remediation liability, respectively. This decrease of $306 in pollution remediation liability in fiscal year 2021 is for expenses relating to the excavation of contaminated soil that contained polycyclic aromatic hydrocarbons from the Pacific Rod & Gun Club site in the Lake Merced area, and remediation activities for the 17th and Folsom site. As of June 30, 2021, the pollution remediation liability of $1,271 was related to the Pacific Rod & Gun Club site. As of June 30, 2020, the pollution remediation liability of $1,577 consisted of $1,274 for the Pacific Rod & Gun Club site, and $303 for the 17th and Folsom site.

Wastewater
As of June 30, 20 20 and 201 9, the Wastewater Enterprise recorded $7,800 in pollution remediation liability. There is no change in the pollution remediation liability in fiscal year 2021 based on cleanup cost estimates for the toxic sediments at Yosemite Creek.

Hetch Hetchy
Hetch Hetchy had no pollution remediation liability as of June 30, 2021 and 2020.

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2021 and 2020
(Dollars in thousands, unless otherwise stated)

163 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(16) Subsequent Events

a) SFPUC’s Claim to California State for Arrearages Relief The California Department of Community Services and Development is administering funds to energy utilities for the California Arrearage Payment Program (Program) during fiscal year 2022, sourced by the American Rescue Plan Act. The Program was created to provide relief for unpaid bills related to the COVID-19 pandemic.

Water
The SFPUC has submitted surveys to the State Water Board with information on water arrearages accrued during the pandemic and is in the process of submitting an application.

Funds of approximately $ 7,310 for water arrearage relief are expected to reach the SFPUC sometime in early 2022.

Wastewater
Program guidelines for wastewater arrearage relief are expected no later than February 2022, after all water arrearage relief has been distributed.

Hetch Hetchy
The SFPUC has submitted surveys to the Department of Community Services and Development.

Hetch Hetchy received notice from California Department of Community Services and Development on October 28, 2021 stating that $1,218 will be allocated to Hetchy Power and $2,424 will be allocated to CleanPowerSF. Funds for energy arrearage relief are expected to reach the agency sometime in early 2022.

b) Declaration of Emergency–Water
On August 23, 2021 a water main ruptured at 22nd Avenue and Sloat Boulevard, causing flooding to adjacent areas. In accordance with Chapter 6, Article IV, Section 6.60(d) of the Administrative Code of the City, the SFPUC declared an emergency relating to this event. As of issuance date, the Water Enterprise has spent $387 towards restoration.

c) Wastewater Revenue Bonds, Series 2021 AB Issuance – Wastewater In November 2021, the SFPUC issued its San Francisco Wastewater Revenue Bonds, 2021 Sub- Series A (SSIP) (Green Bonds), and Sub-Series B (non-SSIP) together with an aggregate principal of $297,880 to refund approximately $340,000 aggregate principal amount of commercial paper notes issued pursuant to the Wastewater Enterprise’s commercial paper program to finance or refinance a portion of the design, acquisition and construction of various capital projects in furtherance of the SFPUC’s SSIP and Wastewater Capital Improvement Program.

d) Wastewater Revenue Notes, Series 2021 AB Issuance – Wastewater In November 2021, the SFPUC issued its San Francisco Wastewater Revenue Notes, 2021 Sub- Series A (SSIP -Biosolids) (Green Notes), and Sub -Series B (SSIP -SEP Improvements) (Green Notes) together with an aggregate principal of $347,465 to finance a portion of the design, acquisition and construction of the Biosolids Digester Facility Project and Southeast Water Pollution Control Plant improvements.

e) Power Revenue Bonds Series 2021 AB Issuance – Hetchy Power On December 21, 2021, the SFPUC issued its San Francisco Power Revenue Bonds, 2021 Sub - Series A (Green), and Sub -Series B together with an aggregate principal of $124,000 to refund

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2021 and 2020
(Dollars in thousands, unless otherwise stated)

164 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

approximately $137,714 aggregate principal amount of commercial paper notes issued pursuant to the Power Enterprise’s commercial paper program to finance or refinance a portion of the design, acquisition and construction of various capital projects in furtherance of the SFPUC’s Power Enterprise capital improvement program.

f) Issuance of Commercial Paper Notes – Hetchy Power
On December 8, 2021, the SFPUC issued $23,000 in Power Enterprise commercial paper notes to finance a portion of the design, acquisition, and construction of various capital proj ects in furtherance of the SFPUC’s Power Enterprise capital improvement program. The commercial paper notes were refinanced with proceeds of the Power Revenue Bonds Series 2021 AB issuance on December 22, 2021.

g) Guarantee – CleanPowerSF
On November 10, 2021, CleanPowerSF and JPMorgan Chase Bank, National Association executed amendments to the March 2018 Credit Agreement. In connection with the amendments, JPMorgan waived the debt service coverage covenant event of default described in Note 1 5(a). Among o ther things, the amendments provided for a decrease in the Credit Agreement amount to $20,000 from $75,000 at the request of CleanPowerSF, and extended the agreement to March 2024. Additional changes to the agreement include elimination of target reserve r equirements, revisions to debt service coverage and rate -setting covenants, changes to ongoing reporting requirements to the Bank, and changes to events of default, including the addition of an event of default if CleanPowerSF’s credit rating is downgraded below investment grade or suspended, withdrawn or otherwise unavailable.

Required Supplementary Information
(Unaudited)

Schedules of the Proportionate Share of the Net Pension Liability

Schedules of Employer Contributions – Pension Plan

Schedules of Changes in Total Pension Liability and Related Ratios – Replacement Benefits Plan

Schedules of Changes in Other Post-employment Benefits Liability and related Ratios Other Post-employment Healthcare Benefits Plan

Schedules of Employer Contributions – Other Post-employment Healthcare Benefits Plan

Supplementary Information
(Proprietary Funds)

Schedule of Changes in Net Position – Dollar and Percentage Change vs. Prior Year

Schedule of Changes in Revenues, Expenses, and Net Position – Dollar and Percentage Change vs. Prior Year

Photo by: Sabrina Wong

Westside Enhanced Water Recycling Project:

Working on formwork for wall of pump
station.

165 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Fiscal year 2015 was the first year of implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions. Therefore only seven years data shown. RSI will be provided for 10 years as it becomes available. **Changes of Assumptions - There were no changes in the discount rate for the measurement period ended June 30, 2020. For the measurement period ended June 30, 2019, the discount rate was decrease d from 7.50% to 7.40%. There were no changes in the discount rate for the measurement persion ended June 30, 2018. For the measurement period ended June 30, 2017, the discount rate was increased from 7.46% to 7.50% ^ Water, Wastewater, Hetchy Water, Hetchy Power, CleanPowerSF and SFPUC covered payroll is calculated based on the percentage of proportion of net pension liability by the Total covered payroll from SFERS (www.mysfers.org). The total covered payroll for SFERS includes the City, San Francisco Unif ied School District, San Francisco Community College District, and the San Francisco Courts.

Source: Office of the Controller, City and County of San Francisco and San Francisco Employees' Retirement System (SFERS)

See accompanying auditors' report.
2015* 2016** 2017** 2018 2019** 2020 2021
(MP 2014) (MP 2015) (MP 2016) (MP 2017) (MP 2018) (MP 2019) (MP 2020) Proportion of net pension liability 93.78% 93.90% 94.22% 94.07% 94.10% 94.13% 94.39% Proportionate share of the net pension liability (asset) $ 1,660,365 2,156,049 5,476,654 4,697,131 4,030,207 4,213,808 5,107,270 Covered payroll (City and County only) $ 2,398,979 2,529,879 2,681,695 2,880,112 3,045,153 3,186,405 3,378,945 Proportionate share of the net pension liability as
a percentage of covered payroll 69.21% 85.22% 204.22% 163.09% 132.35% 132.24% 151.15% Plan fiduciary net position
as a percentage of total pension liability 91.84% 89.90% 77.61% 81.78% 85.20% 85.30% 83.10% Water
Proportion of net pension liability 5.08% 5.00% 4.75% 4.45% 4.35% 4.23% 4.21% Proportionate share of the net pension liability (asset) $ 84,374 108,024 259,956 209,003 175,429 178,133 215,240 Covered payroll^ 127,364 132,138 134,734 135,361 140,137 142,781 150,170 Proportionate share of the net pension liability as
a percentage of covered payroll 66.25% 81.75% 192.94% 154.40% 125.18% 124.76% 143.33% Wastewater
Proportion of net pension liability 2.27% 2.20% 2.17% 2.15% 2.11% 2.05% 2.03% Proportionate share of the net pension liability (asset) $ 37,615 48,177 118,907 100,973 85,037 86,235 103,746 Covered payroll^ 56,913 58,141 61,552 65,399 67,975 69,197 72,410 Proportionate share of the net pension liability as
a percentage of covered payroll 66.09% 82.86% 193.18% 154.40% 125.10% 124.62% 143.28% Hetchy Water
Proportion of net pension liability 0.56% 0.57% 0.57% 0.54% 0.50% 0.51% 0.52% Proportionate share of the net pension liability (asset) $ 9,242 12,093 31,235 25,216 20,390 21,477 26,645 Covered payroll^ 14,040 15,064 16,168 16,426 16,108 17,215 18,548 Proportionate share of the net pension liability as
a percentage of covered payroll 65.83% 80.28% 193.19% 153.51% 126.59% 124.76% 143.65% Hetchy Power
Proportion of net pension liability 0.68% 0.69% 0.70% 0.65% 0.62% 0.62% 0.64% Proportionate share of the net pension liability (asset) $ 11,295 14,781 38,177 30,819 24,920 26,249 32,566 Covered payroll 17,049 18,235 19,855 19,772 19,974 20,928 22,829 Proportionate share of the net pension liability as
a percentage of covered payroll 66.25% 81.06% 192.27% 155.87% 124.76% 125.43% 142.65% CleanPowerSF
Proportion of net pension liability 0.02% 0.03% 0.04% 0.06% Proportionate share of the net pension liability (asset) $ 1,087 1,070 1,805 3,008 Covered payroll^ 608 966 1,350 2,140 Proportionate share of the net pension liability as
a percentage of covered payroll 178.68% 110.71% 133.69% 140.55% SFPUC Total
Proportion of net pension liability 8.59% 8.46% 8.19% 7.81% 7.61% 7.45% 7.46% Proportionate share of the net pension liability (asset) $ 142,526 183,075 448,275 367,098 306,846 313,899 381,205 Covered payroll^ 215,365 223,577 232,309 237,566 245,159 251,471 266,098 Proportionate share of the net pension liability as
a percentage of covered payroll 66.18% 81.88% 192.96% 154.52% 125.16% 124.83% 143.26% City - San Francisco Employee's Retirement
System (SFERS) Plan and Measurement Period (MP)

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplementary Information (Unaudited)
Schedules of the Proportionate Share of the Net Pension Liability Fiscal Years Ended 2015 to 2021
(In thousands)
Data not available - CleanPowerSF
launched in May 2016.

166 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(continued)
1Contractually required contributions is an actuarially contribution for all cost-sharing plans. *Fiscal year 2015 was the first year of implementation of GASB Statement No. 68 , Accounting and Financial Reporting for Pensions. Therefore only seven years data shown. RSI will be provided for 10 years as it becomes available. ** In fiscal year 2015, the actuarially determined contributions were based on an estimated. Due to the early implementation of GASB Statement No. 82, Pension Issues, the City decreased the actuarially determined contributions for the City SFERS plan to deduct the employer pickup in the amount of $8.6 million. (City and County only.)
^ Water, Wastewater, Hetchy Water, Hetchy Power, CleanPowerSF and SFPUC covered payroll is calculated based on the percentage o f proportion of net pension liability by the Total covered payroll from SFERS (www.mysfers.org). The total covered payroll for SFE RS includes the City, San Francisco Unified School District, San Francisco Community College District, and the San Francisco Courts. For fiscal year 2021, the percentage of proportion of net pension liability is based on fiscal year 2020. Fiscal year 2020 covered payroll has been updated.

Source: Office of the Controller, City and County of San Francisco and San Francisco Employees' Retirement System (SFERS)

See accompanying auditors' report.

2015* 2016 2017 2018 2019 2020 2021
(MP 2015) (MP 2016) (MP 2017) (MP 2018) (MP 2019) (MP 2020) (MP 2021) Actuarially determined contributions1** $ 556,511 496,343 519,073 582,568 607,408 701,307 791,736 Contributions in relations to the
actuarially determined contributions1 (556,511) (496,343) (519,073) (582,568) (607,408) (701,307) (791,736) Contribution deficiency (excess) $ — — — — — — —
Covered payroll $ 2,529,879 2,681,695 2,880,112 3,045,153 3,186,405 3,378,945 3,434,713 Contributions as a percentage of
covered payroll 22.00% 18.51% 18.02% 19.13% 19.06% 20.76% 23.05% Water
Actuarially determined contributions1 $ 28,280 24,497 24,638 25,922 26,440 29,647 33,367 Contributions in relations to the
actuarially determined contributions1 (28,280) (24,497) (24,638) (25,922) (26,440) (29,647) (33,367) Contribution deficiency (excess) $ — — — — — — —
Covered payroll^ $ 132,138 134,734 135,361 140,137 142,781 150,170 152,566 Contributions as a percentage of
covered payroll 21.40% 18.18% 18.20% 18.50% 18.52% 19.74% 21.87% Wastewater
Actuarially determined contributions1 $ 12,608 10,930 11,270 12,523 12,816 14,352 16,083 Contributions in relations to the
actuarially determined contributions1 (12,608) (10,930) (11,270) (12,523) (12,816) (14,352) (16,083) Contribution deficiency (excess) $ — — — — — — —
Covered payroll^ $ 58,141 61,552 65,399 67,975 69,197 72,410 73,565 Contributions as a percentage of
covered payroll 21.69% 17.76% 17.23% 18.42% 18.52% 19.82% 21.86% Hetchy Water
Actuarially determined contributions1 $ 3,097 2,806 2,961 3,128 3,073 3,574 4,130 Contributions in relations to the
actuarially determined contributions1 (3,097) (2,806) (2,961) (3,128) (3,073) (3,574) (4,130) Contribution deficiency (excess) $ — — — — — — —
Covered payroll^ $ 15,064 16,168 16,426 16,108 17,215 18,548 18,844 Contributions as a percentage of
covered payroll 20.56% 17.36% 18.03% 19.42% 17.85% 19.27% 21.92% Hetchy Power
Actuarially determined contributions1 $ 3,786 3,430 3,618 3,822 3,756 4,369 5,048 Contributions in relations to the
actuarially determined contributions1 (3,786) (3,430) (3,618) (3,822) (3,756) (4,369) (5,048) Contribution deficiency (excess) $ — — — — — — —
Covered payroll^ $ 18,235 19,855 19,772 19,974 20,928 22,829 23,193 Contributions as a percentage of
covered payroll 20.76% 17.27% 18.30% 19.14% 17.95% 19.14% 21.77% CleanPowerSF
Actuarially determined contributions1 $ 135 161 300 466 Contributions in relations to the
actuarially determined contributions1 (135) (161) (300) (466) Contribution deficiency (excess) $ — — — —
Covered payroll^ 966 1,350 2,140 2,174 Contributions as a percentage of
covered payroll 13.97% 11.92% 14.02% 21.43%
SFPUC Total
Actuarially determined contributions1 $ 47,771 41,663 42,487 45,530 46,246 52,242 59,094 Contributions in relations to the
actuarially determined contributions1 (47,771) (41,663) (42,487) (45,530) (46,246) (52,242) (59,094) Contribution deficiency (excess) $ — — — — — — —
Covered payroll^ $ 223,577 232,309 236,958 245,159 251,471 266,098 270,343 Contributions as a percentage of
covered payroll 21.37% 17.93% 17.93% 18.57% 18.39% 19.63% 21.86%

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplementary Information (Unaudited)
Schedules of Employer Contributions - Pension Plan
Fiscal Years Ended 2015 to 2021
(In thousands)
City - SFERS Plan and
Measurement Period (MP)
Data not available - CleanPowerSF
launched in May 2016.

167 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

See accompanying auditors' report.

Valuation date………………………………………………….………………………….xx July 1, 2019 updated to June 30, 2020 Actuarial cost method……………………………………………………….xx Entry-age normal cost method Amortization method………………………………..………………………….xx Level annual percentage of payroll Remaining amortization period……………………………………………….xx Closed 15-year period Asset valuation method……………………………………………………….xx 5 year smoothed market Investment rate of return……………………………………………………….xx 7.40% (net of pension plan investment, including inflation) Inflation……………………………………………………………………………….xx 2.75%
Projection salary increase………………………….………………………….
xx

3.50% plus merit component based employee classification and years of services
Valuation date………………………………………………….………………………….xx July 1, 2018 updated to June 30, 2019 Actuarial cost method……………………………………………………….xx Entry-age normal cost method Amortization method………………………………..………………………….xx Level annual percentage of payroll Remaining amortization period……………………………………………….xx Closed 15-year period Asset valuation method……………………………………………………….xx 5 year smoothed market Investment rate of return……………………………………………………….xx 7.40% (net of pension plan investment, including inflation) Inflation……………………………………………………………………………….xx 2.75% compounded annually Projection salary increase………………………….………………………….xx Wage inflation component: 3.50% Valuation date………………………………………………….………………………….xx July 1, 2017 updated to June 30, 2018 Actuarial cost method……………………………………………………….xx Entry-age normal cost method Amortization method………………………………..………………………….xx Level annual percentage of payroll Remaining amortization period……………………………………………….xx Closed 15-year period Asset valuation method……………………………………………………….xx 5 year smoothed market Investment rate of return……………………………………………………….xx 7.50% (net of investment expenses) Inflation……………………………………………………………………………….xx 3.00% compounded annually Projection salary increase………………………….………………………….xx Wage inflation component: 3.50% Valuation date………………………………………………….………………………….xx July 1, 2016 updated to June 30, 2017 Actuarial cost method……………………………………………………….xx Entry-age normal cost method Amortization method………………………………..………………………….xx Level annual percentage of payroll Remaining amortization period……………………………………………….xx Closed 15-year period Asset valuation method……………………………………………………….xx 5 year smoothed market Investment rate of return……………………………………………………….xx 7.50% (net of investment expenses) Inflation……………………………………………………………………………….xx 3.25% compounded annually Projection salary increase………………………….………………………….xx Wage inflation component: 3.75% Valuation date………………………………………………….………………………….xx July 1, 2015 updated to June 30, 2016 Actuarial cost method……………………………………………………….xx Entry-age normal cost method Amortization method………………………………..………………………….xx Level annual percentage of payroll Remaining amortization period……………………………………………….xx Closed 15-year period Asset valuation method……………………………………………………….xx 5 year smoothed market Investment rate of return……………………………………………………….xx 7.50% (net of investment expenses) Inflation……………………………………………………………………………….xx 3.25% compounded annually Projection salary increase………………………….………………………….xx Wage inflation component: 3.75% Valuation date………………………………………………….………………………….xx July 1, 2014 updated to June 30, 2015 Actuarial cost method……………………………………………………….xx Entry-age normal cost method Amortization method………………………………..………………………….xx Level annual percentage of payroll Remaining amortization period……………………………………………….xx Closed 15-year period Asset valuation method……………………………………………………….xx 5 year smoothed market Investment rate of return……………………………………………………….xx 7.50% (net of investment expenses) Inflation……………………………………………………………………………….xx 3.25% compounded annually Projection salary increase………………………….………………………….xx Wage inflation component: 3.75% Valuation date………………………………………………….………………………….xx July 1, 2013 updated to June 30, 2014 Actuarial cost method……………………………………………………….xx Entry-age normal cost method Amortization method………………………………..………………………….xx Level annual percentage of payroll Remaining amortization period……………………………………………….xx Rolling 15-year period Asset valuation method……………………………………………………….xx 5 year smoothed market Investment rate of return……………………………………………………….xx 7.58% (net of investment expenses) Inflation……………………………………………………………………………….xx 3.33% compounded annually Projection salary increase………………………….………………………….xx Wage inflation component: 3.83% Methods and assumptions used to determine FY 2015 contribution rates to SFERS Plan

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplementary Information (Unaudited)
Schedules of Employer Contributions - Pension Plan
Fiscal Years Ended 2015 to 2021
Methods and assumptions used to determine FY 2020 contribution rates to SFERS Plan Methods and assumptions used to determine FY 2019 contribution rates to SFERS Plan Methods and assumptions used to determine FY 2018 contribution rates to SFERS Plan Methods and assumptions used to determine FY 2017 contribution rates to SFERS Plan Methods and assumptions used to determine FY 2016 contribution rates to SFERS Plan Methods and assumptions used to determine FY 2021 contribution rates to SFERS Plan

168 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Fiscal year 2021 was the first year SFPUC Water Enterprise have Replacement Benefits Plan. RSI will be provided for 10 years as it becomes available.

No assets are accumulated in a trust that meet the criteria in GASB Statement No. 73 to pay related benefits.

The Water Enterprise’s allocation percentage was determined based on the Water Enterprise’s headcount (both active members and retirees) divided by the City’s total headcount for fiscal year 2020. The Water Enterprise’s allocation of the City’s proportionate share was 0.64% as of the measurement date.

Source: Office of the Controller, City and County of San Francisco.

See accompanying auditors' report.

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplementary Information (Unaudited)
Schedules of Changes in Total Pension Liability and Related Ratios - Replacement Benefits Plan Fiscal Year 2021
(In thousands)
2021*
City (MP 2020)
Plan total pension liability:

Service Cost….................................................. X $ 1,976 Interest….................................................... X 4,776 Changes of benefits…................................... X — Differences between expected and X
actual experience…................................... X 7,800 Changes of assumptions…........................... X 37,013 Benefit payments…...................................... X (3,634) Net change in total pension liability……...... X 47,931
Total pension liability, beginning….................. X 137,272 Plan total pension liability, ending…....... X $ 185,203 Covered-employee payroll................................. X $ 3,414,923 Plan total pension liability as a percentage
of the covered-employee payroll ................................X $ 5.42% Water
Plan total pension liability:

Service Cost….................................................. X $ 13 Interest….................................................... X 30 Changes of benefits…................................... X — Differences between expected and X
actual experience…................................... X 50 Changes of assumptions…........................... X 235 Benefit payments…...................................... X (23) Net change in total pension liability……...... X 305
Total pension liability, beginning….................. X — Adjustments to pension............................................ X 872 Plan total pension liability, ending…....... X $ 1,177
Covered-employee payroll................................. X $ 21,695 Plan total pension liability as a percentage
of the covered-employee payroll ................................X $ 0.03%

169 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(continued)

*Fiscal year 2018 was the first year of implementation of GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions. Therefore four years data is shown. RSI will be provided for 10 years as it becomes available. ^ Water, Wastewater, Hetchy Water, Hetchy Power, CleanPowerSF and SFPUC covered payroll is based on the percentage of proportion of net OPEB liability to the City's covered payroll.

Source: Office of the Controller, City and County of San Francisco.

See accompanying auditors' report.

City Plan and Measurement Period (MP) 2018* 2019 2020 2021 (MP 2017) (MP 2018) (MP 2019) (MP 2020)
Total Other Postemployment Benefits (OPEB) Liability
Service Cost $ 125,195 127,850 133,736 141,642 Interest (includes interest on service cost) 272,942 290,029 283,520 314,907 Differences between expected and actual experience — (385,732) 194,068 (381,922) Changes of assumptions — 111,119 — 151,725
Benefits payments, including refunds of
member contributions (165,470) (178,019) (185,839) (196,445) Net change in total OPEB liability 232,667 (34,753) 425,485 29,907 Total OPEB liability - beginning 3,659,019 3,891,686 3,856,933 4,282,418 Adjustments to OPEB — — — (2)
Total OPEB liability - ending $ 3,891,686 3,856,933 4,282,418 4,312,323 Plan fiduciary net position
Contributions - employer $ 183,898 203,858 218,625 235,963 Contributions - member 31,686 41,682 51,024 60,236 Net investment income 17,368 14,105 26,959 22,746 Benefit payments, including refunds of
member contributions (165,470) (178,019) (185,839) (196,445) Administrative expense (109) (137) (132) (113) Net change in plan fiduciary net position 67,373 81,489 110,637 122,387 Plan fiduciary net position - beginning 107,104 174,477 255,966 366,603 Adjustments to OPEB — — — (1)
Plan fiduciary net position - ending 174,477 255,966 366,603 488,989 Net OPEB liability - ending $ 3,717,209 3,600,967 3,915,815 3,823,334 Plan fiduciary net position as a
percentage of the total OPEB liability 4.48% 6.64% 8.56% 11.34% Covered payroll $ 3,393,658 3,583,448 3,763,446 3,951,792 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% Water
Proportion of net OPEB liability $ 166,336 150,771 163,684 148,771 Percentage of proportion of net OPEB liability 4.47% 4.19% 4.18% 3.89% Covered payroll 151,858 150,037 157,315 153,769 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% Wastewater
Proportion of net OPEB liability $ 59,517 53,567 58,183 50,711 Percentage of proportion of net OPEB liability 1.60% 1.49% 1.49% 1.33% Covered payroll 54,337 53,306 55,919 52,415 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% Hetchy Water
Proportion of net OPEB liability $ 15,872 15,404 16,350 14,444 Percentage of proportion of net OPEB liability 0.43% 0.43% 0.42% 0.38% Covered payroll 14,490 15,329 15,714 14,929 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% Hetchy Power
Proportion of net OPEB liability $ 19,400 18,826 19,983 17,653 Percentage of proportion of net OPEB liability 0.52% 0.52% 0.51% 0.46% Covered payroll 17,711 18,734 19,205 18,246 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% CleanPowerSF
Proportion of net OPEB liability $ 728 1,242 2,197 2,909 Percentage of proportion of net OPEB liability 0.02% 0.03% 0.06% 0.08% Covered payroll 665 1,236 2,112 3,007 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% SFPUC Total
Proportion of net OPEB liability $ 261,853 239,810 260,397 234,488 Percentage of proportion of net OPEB liability 7.04% 6.66% 6.66% 6.14% Covered payroll 239,061 238,643 250,265 242,366 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% (In thousands)

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplementary Information (Unaudited)
Schedules of Changes in Other Post-employment Benefits Liability and Related Ratios Other Post-employment Healthcare Benefits Plan
Fiscal Years Ended 2018 to 2021

170 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

*Fiscal year 2018 was the first year of implementation of GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions. Therefore four years data is shown. RSI will be provided for 10 years as it becomes available. ** Fiscal year 2020 covered payroll data and percentage updated in fiscal year 2021. ^ Water, Wastewater, Hetchy Water, Hetchy Power, CleanPowerSF and SFPUC covered payroll is calculated based on the percentage of proportion of net OPEB liability by the Total covered payroll. For fiscal year 2021, the percentage of proportion of net OPEB liability is based on FY2020.

Source: Office of the Controller, City and County of San Francisco.

See accompanying auditors' report.

2018* 2019 2020** 2021
(MP 2018) (MP 2019) (MP 2020) (MP 2021)
Charter Required or Actuarially determined contributions (ADC) $ 203,858 218,625 235,963 245,992 Contributions in relations to charter required contribution or ADC (203,858) (218,625) (235,963) (245,992) Contribution deficiency (excess) $ — — — —
Covered payroll $ 3,583,448 3,763,446 3,951,792 4,022,105 Contributions as a percentage of covered payroll 5.69% 5.81% 5.97% 6.12% Water
Charter Required or Actuarially determined contributions (ADC) $ 9,122 9,154 9,863 9,572 Contributions in relations to charter required contribution or ADC (9,122) (9,154) (9,863) (9,572) Contribution deficiency (excess) $ — — — —
Covered payroll^ $ 150,037 157,315 165,188 156,505 Contributions as a percentage of covered payroll 6.08% 5.82% 5.97% 6.12% Wastewater
Charter Required or Actuarially determined contributions (ADC) $ 3,264 3,252 3,506 3,263 Contributions in relations to charter required contribution or ADC (3,264) (3,252) (3,506) (3,263) Contribution deficiency (excess) $ — — — —
Covered payroll^ $ 53,306 55,919 58,718 53,347 Contributions as a percentage of covered payroll 6.12% 5.82% 5.97% 6.12% Hetchy Water
Charter Required or Actuarially determined contributions (ADC) $ 870 935 985 929 Contributions in relations to charter required contribution or ADC (870) (935) (985) (929) Contribution deficiency (excess) $ — — — —
Covered payroll^ $ 15,329 15,714 16,500 15,195 Contributions as a percentage of covered payroll 5.68% 5.95% 5.97% 6.11% Hetchy Power
Charter Required or Actuarially determined contributions (ADC) $ 1,064 1,143 1,204 1,136 Contributions in relations to charter required contribution or ADC (1,064) (1,143) (1,204) (1,136) Contribution deficiency (excess) $ — — — —
Covered payroll^ $ 18,734 19,205 20,167 18,571 Contributions as a percentage of covered payroll 5.68% 5.95% 5.97% 6.12% CleanPowerSF
Charter Required or Actuarially determined contributions (ADC) $ 40 75 132 187 Contributions in relations to charter required contribution or ADC (40) (75) (132) (187) Contribution deficiency (excess) $ — — — —
Covered payroll^ 1,236 2,112 2,217 3,060 Contributions as a percentage of covered payroll 3.24% 3.55% 5.95% 6.11% SFPUC Total
Charter Required or Actuarially determined contributions (ADC) $ 14,360 14,559 15,690 15,087 Contributions in relations to charter required contribution or ADC (14,360) (14,559) (15,690) (15,087) Contribution deficiency (excess) $ — — — —
Covered payroll^ $ 238,642 250,265 262,789 246,679 Contributions as a percentage of covered payroll 6.02% 5.82% 5.97% 6.12% City - City Plan and Measurement Period

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplementary Information (Unaudited)
Schedules of Employer Contributions - Other Post-employment Healthcare Benefits Plan Fiscal Years Ended 2018 to 2021
(In thousands)

171 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

See accompanying auditors' report.

Assets $ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change Current assets:

Cash and investments with City Treasury........................................................................................................................................................................................................................$ 32,328 7.2 (70,343) (20.0) 10,201 12.9 (968) (0.5) 6,646 7.9 — — (22,136) (1.9) Cash and investments outside City Treasury.....................................................................................................................................................................................................................xx (52) (14.7) 10 2.8 — — 610 61,000.0 — — — — 568 79.9 Receivables: xx
Charges for services (net of allowance for doubtful xx
accounts of $5,445, $5,369, $0, $1,258, and $5,485 in 2021 and xx $2,500, $3,189, $0, $591, and $1,810 in 2020).................................................................................................................................................................................................................xx (4,473) (7.5) (668) (2.0) 413 1,424.1 16,057 541.2 (6,447) (18.6) — — 4,882 3.7 Due from other City departments, current portion................................................................................................................................................................................................................................xx (2) (0.8) 91 47.9 (104) (100.0) 4,539 157.9 — — 1,799 94.2 6,323 419.0 Due from other governments..........................................................................................................................................................................................................xx (7) (30.4) — — (1,996) (77.5) (1,377) (83.8) — — — — (3,380) (79.7) Interest ...........................................................................................................................................................................................................................................xx (994) (79.5) (794) (80.8) (162) (88.5) (455) (78.4) (160) (74.4) — — (2,565) (79.9) Restricted due from other governments................................................................................................................................................................................................................xx (23,725) (32.4) 17,490 535.7 — — — — — — — — (6,235) (8.1) Restricted interest and other receivable (net of allowance for doubtful accounts of $24, $68, $0, $0 and $0 in 2021 and
$13, $38, $0, $0 and $0 in 2020)..................................................................................xx 209 5.5 977 52.4 (24) (100.0) 11,632 6,923.8 — — — — 12,794 219.5 Total current receivables..............................................................................................................................................................................................................................................xx (28,992) (20.9) 17,096 42.7 (1,873) (64.3) 30,396 369.2 (6,607) (18.9) 1,799 94.2 11,819 5.3 Prepaid charges, advances, and other receivables, current portion..............................................................................................................................................................................................................................xx 2,442 65.9 682 349.7 (110) (21.5) 419 18.6 (576) (20.9) — — 2,857 30.3 Inventory....................................................................................................................................................................................................................................................xx 160 2.8 181 7.3 4 2.1 211 13.1 — — — — 556 5.5 Restricted cash and investments outside City Treasury, current portion....................................................................................................................................................................................................................................................xx 40,527 243.6 (10,745) (97.3) — — 2 1.3 — — — — 29,784 107.0 Total current assets...........................................................................................................................................................................................................................................xx 46,413 7.5 (63,119) (15.5) 8,222 9.9 30,670 15.0 (537) (0.4) 1,799 94.2 23,448 1.6 Non-current assets: xx
Restricted cash and investments with City Treasury....................................................................................................................................................................................................xx — — (55,132) (100.0) (2,778) (28.4) (2,819) (35.0) — — — — (60,729) (83.2) Restricted cash and investments outside City Treasury, less current portion.................................................................................................................................................................................................xx (15,236) (18.8) (563) (5.4) — — (105) (2.8) — — — — (15,904) (16.7) Restricted interest and other receivable, and prepaid (net of allowance for doubtful accounts of $8, $29, $0, $0, and $0 in 2021 and xx $8, $29, $0, $0, and $0 in 2020)……………...............................................................................xx — — (17) (3.6) — — — — — — — — (17) (3.6) Charges for services, less current portion (net of allowance for doubtful accounts of $658, $569 $0, $0, and $0 in 2021 and xx
$669, $577 $0, $0, and $0 in 2020)…………....................................................................………….xx 3 1.5 2 0.6 — — — — — — — — 5 0.9 Prepaid charges, advances, and other receivables, less current portion.............................xx (70) (2.0) (2) (0.2) (4) (2.6) (14) (1.8) — — — — (90) (1.6) Capital assets, not being depreciated and amortized............................................................................................................................................................................................................................xx 38,832 6.5 430,306 44.9 11,005 39.9 6,426 3.8 — — — — 486,569 27.8 Capital assets, net of accumulated depreciation and amortization...............................................................................................................................................................................................................xx 18,422 0.4 114,256 5.4 5,694 4.3 40,201 14.5 — — — — 178,573 2.4 Due from other City departments, less current portion.............................................................xx — — — — — — (7,302) (59.4) — — 109 14.8 (7,193) (62.2) Total non-current assets........................................................................................................................................................................................................................................xx 41,951 0.7 488,850 15.6 13,917 8.2 36,387 7.7 — — 109 14.8 581,214 6.2 Total assets................................................................................................................................xx 88,364 1.4 425,731 12.0 22,139 8.7 67,057 9.9 (537) (0.4) 1,908 72.1 604,662 5.6 Deferred outflows of resources
Unamortized loss on refunding of debt.........................................................................................xx 10,802 7.5 (98) (51.9) — — — — — — — — 10,704 7.4 Pensions..................................................................................................................................................................xx (2,287) (3.4) (203) (0.7) (151) (1.9) (185) (1.9) 231 40.4 — — (2,595) (2.2) Other post-employment benefits..................................................................................................................................................................xx 10,179 36.9 5,044 50.1 1,393 59.7 1,702 59.7 172 63.7 — — 18,490 42.9 Total deferred outflows of resources.......................................................................................................................$ 18,694 7.8 4,743 11.7 1,242 12.1 1,517 12.1 403 47.9 — — 26,599 8.8 (Continued)
Eliminations
Business Type Activities – Proprietary Funds
SFPUC TotalWater Hetchy PowerWastewater CleanPowerSFHetchy Water

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Schedule of Changes in Net Position – Dollar and Percentage Change vs. Prior Year Proprietary Funds
June 30, 2021 and 2020
(In thousands)

172 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

See accompanying auditors' report.
$ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change Liabilities
Current liabilities:

Accounts payable...............................................................................................................................................................................................................................................$ 5,609 53.0 (4,762) (23.8) 3,304 344.9 8,724 61.5 (6,047) (27.6) — — 6,828 10.1 Accrued payroll................................................................................................................................................................................................................................................xx 1,354 15.9 637 11.6 154 17.3 298 13.0 91 45.5 — — 2,534 14.6 Accrued vacation and sick leave, current portion...............................................................................................................................................................................................................xx 618 10.0 1,010 21.0 148 16.2 181 11.3 30 17.1 — — 1,987 14.6 Accrued workers’ compensation, current portion.................................................................................................................................................................................................................xx (87) (4.9) 86 7.7 (4) (2.0) (6) (1.6) — — — — (11) (0.3) Due to other City departments, current portion......................................................................................................................................................................xx (674) (100.0) — — (240) (100.0) 138 59.7 (1,809) (100.0) 1,799 94.2 (786) (68.1) Damage claims liability, current portion....................................................................................................................................................................................................................xx 9,660 203.8 (3,102) (34.5) (56) (20.4) (296) (42.0) (47) (88.7) — — 6,159 41.7 Unearned revenues, refunds, and other, current portion.......................................................................................................................................................................................................................................xx 792 4.4 102 1.9 4 22.2 289 6.0 180 21.2 — — 1,367 4.7 Bond and loan interest payable.................................................................................................................................................................................................................................xx (6,557) (15.3) (145) (0.8) — — (49) (9.6) — — — — (6,751) (11.1) Bonds, current portion.................................................................................................................................................................................................................................xx 14,420 15.3 (360) (1.5) — — (187) (8.8) — — — — 13,873 11.6 Certificates of participation, current portion....................................................................................................................................................xx 146 5.2 38 5.1 — — 21 5.5 — — — — 205 5.2 Commercial paper...............................................................................................................................................................................................................................................xx (256,492) (70.8) 430,579 207.1 — — 51,136 80.5 — — — — 225,223 35.5 Wholesale balancing account, current portion....................................................................xx 10,281 91.3 — — — — — — — — — — 10,281 91.3 State revolving funds loans payable, current portion……………...…xx 1,667 100.0 25 1.0 — — — — — — — — 1,692 68.8 Current liabilities payable from restricted assets.............................................................................................................................................................................................................xx (2,688) (9.0) 4,627 5.4 5,778 176.2 6,934 82.0 — — — — 14,651 11.5 Total current liabilities......................................................................................................................................................................................................................................xx (221,951) (37.4) 428,735 112.0 9,088 134.3 67,183 67.7 (7,602) (30.4) 1,799 94.2 277,252 25.1 Long-term liabilities: xx
Other post-employment benefits obligations.......................................................................................................................................................................................................................xx (14,913) (9.1) (7,472) (12.8) (1,906) (11.7) (2,330) (11.7) 712 32.4 — — (25,909) (9.9) Net pension liability....................................................................................xx 38,284 21.5 17,511 20.3 5,168 24.1 6,317 24.1 1,203 66.6 — — 68,483 21.8 Accrued vacation and sick leave, less current portion..........................................................................................................................................................................................................xx 1,678 30.8 1,734 42.2 391 53.2 479 35.2 79 68.1 — — 4,361 37.0 Accrued workers’ compensation, less current portion............................................................................................................................................................................................................xx (259) (3.5) 445 9.0 (63) (6.4) (76) (4.2) — — — — 47 0.3 Due to other City departments, less current portion........................xx — — (110) (14.9) — — (369) (100.0) — — 109 14.8 (370) (100.0) Damage claims liability, less current portion...............................................................................................................................................................................................................xx 16,296 270.4 3,924 56.9 23 8.1 (818) (53.9) (53) (100.0) — — 19,372 131.1 Unearned revenues, refunds, and other, less current portion.......................................................................................................................................................................................................................................xx — — — — (493) (81.0) (1,938) (69.5) 9,000 100.0 — — 6,569 193.3 Bonds, less current portion............................................................................................................................................................................................................................xx 285,060 6.2 (31,451) (2.0) — — (3,309) (6.9) — — — — 250,300 4.0 Certificates of participation, less current portion.......................................................................................................................................................................................................................................xx (3,062) (3.1) (810) (3.1) — — (418) (3.1) — — — — (4,290) (3.1) Wholesale balancing account, less current portion....................................................................xx (14,274) (26.6) — — — — — — — — — — (14,274) (26.6) State revolving funds loans payable, less current portion…………..xx 32,469 44.3 19,985 23.2 — — — — — — — — 52,454 32.9 Pollution remediation obligations.........................................................................................................................................................................................................xx (306) (19.4) — — — — — — — — — — (306) (3.3) Total long-term liabilities....................................................................................................................................................................................................................................xx 340,973 6.6 3,756 0.2 3,120 7.7 (2,462) (2.1) 10,941 262.3 109 14.8 356,437 4.9 Total liabilities..............................................................................................................................................................................................................................................xx 119,022 2.1 432,491 19.1 12,208 25.9 64,721 30.2 3,339 11.4 1,908 72.1 633,689 7.6 Deferred inflows of resources xx
Related to pensions..............................................................................................................................................................................................................................................xx (30,009) (86.0) (14,744) (87.3) (3,347) (77.2) (4,091) (77.2) (117) (9.7) — — (52,308) (83.5) Other post-employment benefits..................................................................................................................................................................xx 9,543 81.1 3,080 73.6 890 74.5 1,087 74.4 702 58.0 — — 15,302 77.2 Total deferred inflows of resources....................................................xx (20,466) (43.9) (11,664) (55.3) (2,457) (44.4) (3,004) (44.4) 585 24.2 — — (37,006) (44.9) Net position xx
Net investment in capital assets................................................................................................................................................................................................................xx (10,554) (2.0) 70,501 6.0 16,699 10.4 862 0.3 — — — — 77,508 3.5 Restricted for debt service....................................................................................................................................................................................................................................xx 29,670 186.4 1,765 143.8 — — (43) (30.3) — — — — 31,392 181.6 Restricted for capital projects................................................................................................................................................................................................................................xx (20,803) (48.2) — — (6,513) (100.0) — — — — — — (27,316) (55.0) Unrestricted...................................................................................................................................................................................................................................................xx 10,189 18.8 (62,619) (57.8) 3,444 7.9 6,038 4.2 (4,058) (4.5) — — (47,006) (10.7) Total net position...............................................................................................................................................................................................................................................$ 8,502 1.3 9,647 0.7 13,630 6.5 6,857 1.5 (4,058) (4.5) — — 34,578 1.3

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Schedule of Changes in Net Position – Dollar and Percentage Change vs. Prior Year Proprietary Funds
June 30, 2021 and 2020
(In thousands)
Business Type Activities – Proprietary Funds
Water Wastewater SFPUC TotalHetchy Power EliminationsHetchy Water CleanPowerSF

173 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

See accompanying auditors' report.
$ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change Operating revenues:

Charges for services..............................................................................................................$ (447) (0.1) (13,485) (4.1) 12,182 35.0 (4,433) (3.2) (37,762) (15.4) (43,945) (3.4) Rents and concessions........................................................................................................................xx 787 6.5 (22) (3.3) (45) (28.8) (55) (28.8) — — 665 5.1 Capacity fees........................................................................................................................xx (843) (38.9) (2,186) (37.1) — — — — — — (3,029) (37.6) Other revenues......................................................................................................................................................xx (1,236) (6.8) (770) (13.2) — — — — — — (2,006) (8.3) Total operating revenues.................................................................................................................................xx (1,739) (0.3) (16,463) (4.8) 12,137 34.7 (4,488) (3.2) (37,762) (15.4) (48,315) (3.6) Operating expenses: xx
Personnel services.....................................................................................................................xx 12,585 10.5 (564) (0.6) 3,567 21.9 44 0.1 (279) (3.5) 15,353 5.6 Contractual services......................................................................................................................xx 978 6.7 (496) (2.6) 773 47.1 984 12.7 (529) (7.0) 1,710 3.4 Transmission/distribution and other power costs......................................................................................................................xx — — — — — — (4,694) (11.3) 792 360.0 (3,902) (9.4) Purchased electricity.........................................................................................................................................................................xx — — — — — — (1,444) (19.4) 15,427 8.8 13,983 7.7 Materials and supplies......................................................................................................................xx (875) (6.2) 100 1.1 (65) (4.9) (270) (11.9) (31) (54.4) (1,141) (4.3) Depreciation and amortization.............................................................................................................................................................................................xx 1,805 1.3 9,051 14.4 733 13.9 (96) (0.6) — — 11,493 5.1 Services provided by other departments..............................................................................................................................................................................xx 9,107 14.9 1,004 2.7 664 35.8 (289) (4.5) 1,200 44.0 11,686 10.7 General and administrative and other.......................................................................................................................xx 27,126 58.7 20,866 49.0 (28) (0.2) 3,276 12.4 110 3.7 51,350 37.5 Total operating expenses..................................................................................xx 50,726 12.7 29,961 11.4 5,644 12.6 (2,489) (1.7) 16,690 8.5 100,532 9.6 Operating income (loss).....................................................................................................xx (52,465) (28.3) (46,424) (56.7) 6,493 (65.5) (1,999) (27.5) (54,452) (110.2) (148,847) (49.7) Non-operating revenues (expenses): xx
Federal and state grants.....................................................................................................xx 14,620 6,995.2 — — (1,510) (52.8) (402) (21.3) — — 12,708 256.6 Interest and investment income (loss)...................................................................................xx (10,177) (96.8) (13,324) (109.8) (2,164) (112.0) (5,722) (99.6) (1,720) (97.1) (33,107) (103.1) Interest expenses...............................................................................................................xx 6,640 3.5 8,354 19.3 — — 770 28.1 51 73.9 15,815 6.7 Amortization of premium, discount, refunding loss, and issuance costs..............xx (5,970) (43.4) (150) (1.7) — — (9) (3.9) — — (6,129) (27.1) Net gain from sale of assets..............................................................................................xx (61,407) (96.0) (20) (52.6) (4) (100.0) (5) (100.0) — — (61,436) (96.0) Other non-operating revenues.......................................................................................xx (2,073) (6.8) (665) (12.0) (995) (99.7) (5,326) (23.0) 926 92,600.0 (8,133) (13.5) Other Non-operating expenses.....................................................................................xx (1,679) (317.4) (357) (686.5) (52) (472.7) 158 14.9 — — (1,930) (116.8) Net non-operating revenues (expenses)........................................................xx (60,046) (82.5) (6,162) (36.5) (4,725) (81.7) (10,536) (38.8) (743) (43.6) (82,212) 149.5 Change in net position before capital contributions and transfers.....................................................................xx (112,511) (100.0) (52,586) (80.9) 1,768 42.7 (12,535) (62.9) (55,195) (107.9) (231,059) (94.6) Capital contributions.................................................................................................................xx 4,180 100.0 — — — — — — — — 4,180 100.0 Transfers from the City and County of San Francisco.................................................................................................................xx 19,805 1,623.4 1,160 414.3 2,000 14.3 — — — — 22,965 148.2 Transfers to the City and County of San Francisco..............................................................................................................xx (1,849) 12.5 (2,720) 185.3 — — (500) 1,562.5 — — (5,069) 31.1 Net capital contributions and transfers…....................................................xx 22,136 (162.9) (1,560) 131.3 2,000 14.3 (500) 1,562.5 — — 22,076 (2,742.4) Change in net position....................................................................................................................................xx (90,375) (91.4) (54,146) (84.9) 3,768 38.2 (13,035) (65.5) (55,195) (107.9) (208,983) (85.8) Net position at beginning of year....................................................................................................................................................................................................................................................................................................................................................................................................................................... year…………………………………………………………………………..…………………………………………………………..…………………………………………………………..xx 98,877 18.2 63,793 5.2 9,862 4.9 19,892 4.5 51,137 127.8 243,561 9.9 Net position at end of year.................................................................................................$ 8,502 1.3 9,647 0.7 13,630 6.5 6,857 1.5 (4,058) (4.5) 34,578 1.3 Water

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Schedule of Changes in Revenues, Expenses, and Net Position – Dollar and Percentage Change vs. Prior Year Proprietary Funds
June 30, 2021 and 2020
(In thousands)
Business Type Activities – Proprietary Funds
SFPUC TotalWastewater Hetchy Water Hetchy Power CleanPowerSF

KPMG LLP
Suite 1400
55 Second Street
San Francisco, CA 94105
KPMG LLP , a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

Independent Auditors’ Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards
The Honorable Mayor and Board of Supervisors
City and County of San Francisco, California:

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the business-type activities of each major fund of the San Francisco Public Utilities Commission (SFPUC), a department of the City and County of San Francisco, California (the City), which comprise the statement of net position as of June 30, 2021, and the related statements of revenues, expenses, and changes in net position, and cash flows for the year then ended, and the related notes to the financial statements, and have issued our report thereon dated February 25, 2022.

Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered SFPUC’s internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of SFPUC’s internal control. Accordingly, we do not express an opinion on the effectiveness of SFPUC’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

Compliance and Other Matters
As part of obtaining reasonable assurance about whether SFPUC’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. 175
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of SFPUC’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering SFPUC’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

San Francisco, California
February 25, 2022

Photo by: Robin Scheswohl

SFPUC activates Stormwatch to strategically
deploy the Strike Team, to clear away dirt
and leaves from catch basins and to vacuum
out debris using giant (Vac-con) trucks.

Statistical Section
(Unaudited)

Financial Trends

These schedules contain trend information to help understand how SFPUC’s financial performance and well-being have changed over time.

Revenue Capacity

These schedules contain information to help the reader assess SFPUC’s revenues sources and rate structures.

Debt Capacity

These schedules contain information to help the reader assess the affordability of the SFPUC’s current levels of outstanding debt and its ability to issue additional debt in the future.

Demographic and Economic Information

These schedules offer demographic and economic indicators to help the reader understand the environment within which SFPUC’s financial activities take place.

Operating Information

These schedules contain service and infrastructure data to enhance the reader’s ability to understand how the information in the SFPUC financial report relates to the services it provides and the activities it performs.

The San Francisco Public Utilities Commission
A Department of the City and County of San Francisco, California

Photo by: Robin Scheswohl

Excavation for installation of lead-free, outdoor
water bottle refilling stations.

Financial Trends

Comparative Highlights of Revenues and Expenses

Changes in Net Position

Summary of Net Position by Component

Investments in Capital Assets

Photo by: Robin Scheswohl

Force Main Rehabilitation at Embarcadero
and Jackson.

Statistical Section

176 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Interest expenses are net of amortization of premium, discount, refunding loss, and issuance costs.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements.

Financial Trends
Department-wide
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2021 and 2020
(Dollars in Thousands)
Charges for
services
$1,259,466

91.8%
Rents and
concessions
$13,800 1.0%
Other operating
revenues
$27,182 2.0%
Interest and
investment loss
$(1,004) -0.1%
Federal and State
grants $17,661

1.3%
Net gain from
sale of assets
$2,574 0.2% Other non-
operating
revenues
$52,102 3.8%
Other $112,315

8.2%
2021 Revenues - $1,371,781
Charges for
services
$1,303,411

86.3%
Rents and
concessions
$13,135 0.9%
Other operating
revenues
$32,217 2.1%Interest and
investment
income $32,103

2.1%
Federal and State
grants, $4,953

0.3%
Net gain from
sale of assets
$64,010 4.2%
Other non-
operating
revenues,
$60,235 4.1%
Other,
$206,653

13.7%
2020 Revenues - $1,510,064
Personnel services
$291,245 21.4%
Contractual
services $52,531

3.9%
Purchased power
& related costs
$233,682 17.2% Materials and
supplies $25,554

1.9%
Depreciation and
amortization
$237,687 17.5%
Services provided
by other
departments
$121,130 8.9%
General &
administrative and
Other operating
expenses
$188,105 13.8%
*Interest Expense
$204,958 15.1%
Non-operating
expenses, $3,582

0.3%
2021 Expenses - $1,358,474
Personnel services
$275,892 21.8%
Contractual
services $50,821

4.0%
Purchased power
& related costs
$223,601 17.7%
Materials and
supplies $26,695

2.1%
Depreciation and
amortization
$226,194 17.9%
Services provided
by other
departments
$109,444 8.6%
General &
administrative and
Other operating
expenses
$136,755 10.8%*Interest Expense
$214,644 17.0%
Non-operating
expenses $1,652

0.1%
2020 Expenses - $1,265,698
Statistical Section

177 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Interest expenses are net of amortization of premium, discount, refunding loss, and issuance costs.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements.

Statistical Section The San Francisco Public Utilities Commission Financial Trends
Water Fund
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2021 and 2020
(Dollars in Thousands)
Charges for
services
$550,306 87.7%
Rents and
concessions
$12,911 2.1%
Capacity fees
$1,326 0.2%
Other operating
revenues $17,069

2.7%
Interest and
investment income
$340 0.1%Net gain from
sale of assets
$2,556 0.4%
Federal and
State grants
$14,829 2.3%
Other non-
operating
revenues
$28,489 4.5%
Other
$77,520 12.3%
2021 Revenues - $627,826
2021 Expenses - $627,875
Charges for services
$550,753 80.0%
Rents and
concessions
$12,124 1.8%
Capacity fees
$2,169 0.3%
Other operating
revenues
$18,305 2.7%
Interest and
investment
income
$10,517 1.5%
Net gain from
sale of assets
$63,963 9.3%
Federal and
State grants
$209 0.0%
Other non-
operating
revenues
$30,562

4.4%
Other $137,849

20.0%
2020 Revenues - $688,602
2020 Expenses - $576,140

99.90 Personnel
services
$132,528 21.1%
Contractual
services $15,501

2.5%
Materials and
supplies $13,175

2.1%
Depreciation and
amortization $144,033

22.9%
Services provided
by other
departments
$70,235 11.2%
General &
administrative
and Other
operating expense
$73,371 11.6%
*Interest Expense
$176,824 28.2%
Non-operating
expenses $2,208

0.4%
2021 Expenses - $627,875
$2,169 0.3%
Personnel services
$119,943 20.8%
Contractual
services $14,523

2.5%
Materials and
supplies $14,050

2.4%
Depreciation and
amortization
$142,228 24.7%
Services provided
by other
departments
$61,128 10.6%
General &
administrative and
Other operating
expense $46,245

8.1%
*Interest Expense
$177,494 30.8%
Non-operating
expenses $529 0.1%
2020 Expenses - $576,140
Statistical Section

178 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Interest expenses are net of amortization of premium, refunding loss, and issuance costs.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements.

Financial Trends
Wastewater Fund
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2021 and 2020
(Dollars in Thousands)
Charges for
services
$318,236

96.0%
Rents and
concessions
$642 0.2%
Capacity fees
$3,710 1.1%Other operating
revenues $5,077

1.5%
Interest and
investment loss
$(1,187) 0.4%
$18 Net gain
from sale of
assets $18 0.0% Other non-
operating
revenues
$4,893 1.6%
Other $13,153

4.0%
2021 Revenues - $331,389
2021 Expenses - $318,994 2020 Expenses - $296,880
Charges for
services
$331,721

91.7%
Rents and
concessions
$664 0.2%
Capacity fees
$5,896 1.6%
Other operating
revenues $5,847

1.6%
Interest and
investment
income
$12,137 3.4%
Net gain from
sale of assets
$38 0.0%Other non-
operating
revenues
$5,558 1.5%
Other $30,140

8.3%
2020 Revenues - $361,861
Personnel
services
$90,449 28.4%
Contractual
services
$18,861 5.9%
Materials and
supplies $9,091

2.8%
Depreciation and
amortization
$72,018 22.6%
Services provided
by other
departments
$38,313 12.0%
General &
administrative
and Other
$63,488 19.9%
*Interest Expense
$26,365 8.3%
Non-operating
expenses, $409

0.1%
2021 Expenses - $318,994
Personnel
services $91,013

30.7%
Contractual
services $19,357

6.5%
Materials and
supplies $8,991

3.0%
Depreciation and
amortization
$62,967 21.2%
Services provided
by other
departments
$37,309 12.6%General &
administrative
and Other
$42,622 14.4%
*Interest Expense
$34,569 11.6%
Non-operating
expenses $52

0.0%
2020 Expenses - $296,880
Statistical Section

179 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements.

Financial Trends
Hetchy Water Fund
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2021 and 2020
(Dollars in Thousands)
Charges for
services $46,979

97.4%
Rents and
concessions
$111 0.2%Interest and
investment loss
$(232) (0.5%)
Federal and State
grants $1,349

2.9% Other non-
operating
revenues $3

0.0%
Other $1,231

2.6%
2021 Revenues - $48,210
Charges for
services $34,797

85.4% Rents and
concessions
$156 0.4%
Interest and
investment
income $1,932

4.7%
Net gain from
sale of assets,
$4 0.0%
Federal and
State grants
$2,859 7.0%
Other non-
operating
revenues $998

2.4%
Other $5,949

14.6%
2020 Revenues - $40,746
Personnel services
$19,871 39.3%
Contractual
services $2,415

4.8%
Materials and
supplies $1,272

2.5%
Depreciation and
amortization $6,009

11.9%
Services provided by
other departments
$2,517 5.0%
General and
administrative and
Other operating
expenses $18,433

36.4% Non-operating
expenses, $63

0.1%
2021 Expenses - $50,580
$156 0.4%income $1,932

4.7%
Personnel services
$16,304 36.3%
Contractual services
$1,642 3.7%
Materials and
supplies $1,337

3.0%Depreciation and
amortization
$5,276 11.8%
Services provided by
other departments
$1,853 4.1%
General and
administrative and
Other operating
expenses $18,461

41.1%
Non-operating
expenses $11 $0
2020 Expenses - $44,884
Statistical Section

180 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Interest expenses are net of amortization of premium, discount, and issuance costs.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements.

Financial Trends
Hetchy Power Fund
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2021 and 2020
(Dollars in Thousands)
Charges for
services
$136,247 87.5%
Rents and
concessions
$136 0.1%
Interest and
investment income
$24 0.0%
Federal and
State grants
$1,483 1.0%
Other non-operating
revenues $17,790 11.4% Other $1,643

1.1%
2021 Revenues - $155,680
Charges for
services
$140,680 82.0%
Rents and
concessions $191

0.1%Interest and
investment
income $5,746

3.3%
Net gain from sale
of assets $5 0.0%
Federal and State
grants $1,885

1.1%
Other non-operating
revenues $23,116

13.5%
Other $7,827

4.5%
2020 Revenues - $171,623
Personnel
services
$40,756 27.5%
Contractual
services
$8,726 5.9%
Purchased
power & related
costs $42,693

28.8%
Materials and
supplies $1,990

1.3%
Depreciation and
amortization
$15,627 10.5%
Services
provided by
other
departments
$6,137 4.1%
General and
administrative
and Other
$29,709 20.0%
*Interest
expense $1,751

1.2%
Solar incentive
program $760

0.6%
Non-operating
expenses $142

0.1%
2021 Expenses - $148,291
Personnel
services
$40,712 26.8%
Contractual
services $7,742

5.1%
Purchased
power & related
costs $48,831

32.2%
Materials and
supplies
$2,260 1.5%
Depreciation and
amortization
$15,723 10.4%
Services
provided by
other
departments
$6,426 4.2%
General and
administrative
and Other
$26,433 17.4%
*Interest
expense $2,512

1.7%
Solar incentive
program $1,048

0.7%
Non-operating
expenses $12

0.0%
2020 Expenses - $151,699
Statistical Section

181 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Financial Trends
CleanPowerSF
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2021 and 2020
(Dollars in Thousands)
Charges for services
$207,698 99.5%
Interest and
investment income
$51 0.0%
Other non-
operating
revenues $927

0.5%
2021 Revenues - $208,676
Charges for services
$245,460 99.3%
Interest and
investment income
$1,771 0.7%
Other non-
operating
revenues $1

0.0%
2020 Revenues - $247,232
Personnel
services $7,641

3.6%
Contractual
services $7,028

3.3%
Purchased power
& related costs
$190,989 89.8%
Materials and
supplies $26

0.0%
Services provided
by other
departments
$3,928 1.8%
General and
administrative
and Other
$3,104 1.5%
Interest Expense
$18 0.0%
2021 Expenses - $212,734
Personnel
services $7,920

4.0%
Contractual
services $7,557

3.9%
Purchased power
& related costs
$174,770 89.1%
Materials and
supplies $57

0.0%
Services provided
by other
departments
$2,728 1.5%
General and
administrative
and Other
$2,994 1.5%
Interest Expense
$69 0.0%
2020 Expenses - $196,095
Statistical Section

182 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

^ Include a one-time early repayment of $356,139 from BAWSCA for capital costs recovery.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Revenues: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Charges for services $ 684,863 1,069,674 733,746 792,199 807,259 895,472 989,842 1,172,573 1,303,411 1,259,466 Rents and concessions 10,447 10,736 11,727 13,336 13,096 9,734 13,813 13,989 13,135 13,800 Other operating revenues 19,061 27,541 28,944 24,317 25,672 22,445 29,043 32,296 32,217 27,182 Subtotal operating revenues 714,371 1,107,951 774,417 829,852 846,027 927,651 1,032,698 1,218,858 1,348,763 1,300,448 Interest and investment income (loss) 39,888 38 15,083 8,175 6,060 8,511 11,694 46,639 32,103 (1,004) Other non-operating revenues 47,729 67,989 41,946 63,430 51,972 58,422 55,705 52,483 129,198 72,337 Subtotal non-operating revenues 87,617 68,027 57,029 71,605 58,032 66,933 67,399 99,122 161,301 71,333 Total revenues $ 801,988 1,175,978 831,446 901,457 904,059 994,584 1,100,097 1,317,980 1,510,064 1,371,781 (continued)
Financial Trends
Department-wide - Changes in Net Position
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
^
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Department-wide Revenues
Other non-operating revenues
Interest and investment income (loss)
Other operating revenues
Rents and concessions
Charges for services
Statistical Section

183 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

^ The beginning net position for fiscal years 2012 and 2013 have been restated for the retrospective application of GASB Statement No. 65. # Include transfer in of $63,075 from the Department of Public Works related to the improvement of the Auxiliary Water Supply System Earthquake Safety and Emergenc y Response project.
* Capital contributions of $678 in FY 2014 was from Department of Emergency Management and $4,180 in FY2021 was from Department of Public Works. ~ The beginning net position for fiscal year 2015 has been restated for the retrospective application of GASB Statement No. 68. ** The Wastewater Enterprise recorded certain immaterial corrections to the 2018 financial statement to eliminate the recogni tion of certain capital assets that are recorded by another fund. The impact of the change was to decrease beginning position as of July 2017 by $6,767 and increase fiscal year 2018 expenses by $28,313. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 7 5. ^^ Non-operating expenses include net loss from sale of assets.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Expenses: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Personnel services $ 241,621 249,927 252,068 220,385 227,930 365,494 271,888 248,189 275,892 291,245 Contractual services 33,911 32,082 30,133 35,216 34,915 31,563 39,408 44,832 50,821 52,531 Purchased power & related costs 21,539 20,891 26,215 20,296 26,792 43,407 64,732 170,275 223,601 233,682 Materials and supplies 23,963 26,557 26,411 24,842 26,128 23,972 28,024 25,130 26,695 25,554 Depreciation and amortization 123,249 137,252 152,742 163,525 173,978 191,997 193,457 200,712 226,194 237,687 Services provided by other departments 88,511 98,533 96,918 104,535 106,476 105,417 102,199 108,043 109,444 121,130 General and administrative and
Other operating expenses 98,235 74,917 101,473 88,559 88,615 98,327 106,960 130,003 136,755 188,105 Subtotal operating expenses 631,029 640,159 685,960 657,358 684,834 860,177 806,668 927,184 1,049,402 1,149,934 Interest expenses 150,217 169,105 165,345 161,712 178,864 179,819 192,183 224,867 237,271 221,456 Amortization of premium, discount,
refunding loss, and issuance costs 9,339 (5,607) (13,908) (10,554) (11,950) (15,090) (19,188) (23,722) (22,627) (16,498) Non-operating expenses 7,908 5,986 5,206 7,916 4,439 4,466 4,129 3,766 1,652 3,582 Subtotal non-operating expenses 167,464 169,484 156,643 159,074 171,353 169,195 177,124 204,911 216,296 208,540 Total expenses 798,493 809,643 842,603 816,432 856,187 1,029,372 983,792 1,132,095 1,265,698 1,358,474 Change in net position before transfers,
capital contributions and extraordinary item 3,495 366,335 (11,157) 85,025 47,872 (34,788) 116,305 185,885 244,366 13,307 Capital contributions — — 678 * — — — — — — 4,180 * Transfers in (out) 485 64,176 386 52,806 17,899 (30,644) (28,371) 1,360 (805) 17,091 Extraordinary item:

Rim fire — loss — — (6,843) — — — — — — —
Change in net position 3,980 430,511 (16,936) 137,831 65,771 (65,432) 87,934 187,245 243,561 34,578 Net position at beginning of year
Beginning of year, as previously reported 1,953,447 1,971,500 2,366,565 2,349,629 2,225,451 2,292,646 2,225,790 2,270,925 2,458,170 2,701,731 Cumulative effect of accounting change due to error — — — — — — (6,767) — — — Cumulative effect of accounting change (21,373) (35,446) — (262,009) — — (36,032) — — — Less: CleanPowerSF beginning net position — — — — — (1,424) — — — — Beginning of year as restated 1,932,074 1,936,054 2,366,565 2,087,620 2,225,451 2,291,222 2,182,991 2,270,925 2,458,170 2,701,731 Net position at end of year $ 1,936,054 2,366,565 2,349,629 2,225,451 2,291,222 2,225,790 2,270,925 2,458,170 2,701,731 2,736,309 Financial Trends
Department-wide - Changes in Net Position
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
^^
#
^^ ⌂
^^
**
~
($100,000)
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
$1,100,000
$1,200,000
$1,300,000
$1,400,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Department-wide Expenses , Transfers and Capital Contributions Capital contributions
Transfers in (out)
Non-operating expenses
Interest expenses net of amortized costs
General and administrative an Other operating expenses
Services provided by other departments
Depreciation and amortization
Materials and supplies
Purchased power & related costs
Contractual services
Personnel services
Statistical Section

184 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

^ Include a one-time early repayment of $356,139 from BAWSCA for capital costs recovery.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Revenues: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Charges for services $ 324,169 700,513 354,827 400,023 393,582 438,207 495,138 509,703 550,753 550,306 Rents and concessions 9,398 9,599 10,675 12,284 12,081 8,813 12,906 13,010 12,124 12,911 Other operating revenues 8,534 11,358 14,380 13,740 13,853 13,311 17,595 19,678 20,474 18,395 Subtotal operating revenues 342,101 721,470 379,882 426,047 419,516 460,331 525,639 542,391 583,351 581,612 Interest and investment income (loss) 33,450 (281) 10,907 5,789 3,595 4,331 6,448 15,650 10,517 340 Other non-operating revenues 34,180 37,921 29,197 47,314 31,253 37,405 39,064 32,399 94,734 45,874 Subtotal non-operating revenues 67,630 37,640 40,104 53,103 34,848 41,736 45,512 48,049 105,251 46,214 Total revenues $ 409,731 759,110 419,986 479,150 454,364 502,067 571,151 590,440 688,602 627,826 Financial Trends
Water - Changes in Net Position
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
^
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Water Revenues
Other non-operating revenues
Interest and investment income (loss)
Other operating revenues
Rents and concessions
Charges for services
Statistical Section

185 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Increase in other operating expenses due to construction contract expenses net of capitalization for higher construction activities. ** Fiscal year 2014 $310 Department of Emergency Management and fiscal year 2021 $4,180 from Department of Public Works # Include transfer in of $63,075 from the Department of Public Works related to the improvement of the AWSS Earthquake Safety and Emergency Response project. ~ The beginning net position for fiscal years 2012 and 2013 have been restated for the retrospective application of GASB Stat ement No. 65. @ The beginning net position for fiscal year 2015 has been restated for the retrospective application of GASB Statement No. 68. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 75.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Expenses: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Personnel services $ 114,337 119,151 119,849 99,192 103,027 182,034 128,295 111,594 119,943 132,528 Contractual services 14,838 12,819 10,921 12,729 13,451 10,664 14,131 13,715 14,523 15,501 Materials and supplies 12,140 13,074 12,154 12,667 12,896 12,564 15,936 13,421 14,050 13,175 Depreciation and amortization 64,595 75,448 89,026 95,384 106,666 118,826 118,751 120,815 142,228 144,033 Services provided by other departments 49,395 57,684 54,856 60,365 60,868 59,173 56,860 59,751 61,128 70,235 General and administrative and
Other operating expenses 49,257 25,563 46,749 16,613 17,878 38,566 36,174 37,798 46,245 73,371 Subtotal operating expenses 304,562 303,739 333,555 296,950 314,786 421,827 370,147 357,094 398,117 448,843 Interest expenses 131,334 147,741 136,645 137,106 153,258 148,075 164,001 177,998 191,246 184,606 Amortization of premium, discount, refunding loss,
and issuance costs 9,363 (5,002) (6,169) (6,100) (8,849) (9,029) (13,540) (17,788) (13,752) (7,782) Non-operating expenses 2,661 2,327 2,089 4,829 2,210 2,607 1,920 1,388 529 2,208 Subtotal non-operating expenses 143,358 145,066 132,565 135,835 146,619 141,653 152,381 161,598 178,023 179,032 Total expenses 447,920 448,805 466,120 432,785 461,405 563,480 522,528 518,692 576,140 627,875 Change in net position before transfers
and capital contributions (38,189) 310,305 (46,134) 46,365 (7,041) (61,413) 48,623 71,748 112,462 (49) Capital contributions — — 310 — — — — — — 4,180
Transfers in (out) (13,585) 63,484 405 50,995 33,244 (59,988) (30,986) (19,134) (13,585) 4,371 Change in net position (51,774) 373,789 (45,419) 97,360 26,203 (121,401) 17,637 52,614 98,877 8,502 Net position at beginning of year
Beginning of year, as previously reported 396,258 358,495 699,631 654,212 596,465 622,668 501,267 489,524 542,138 641,015 Cumulative effect of accounting change (18,642) (32,653) — (155,107) — — (29,380) — — — Beginning of year as restated 377,616 325,842 699,631 499,105 596,465 622,668 471,887 489,524 542,138 641,015 Net Position at end of year $ 325,842 699,631 654,212 596,465 622,668 501,267 489,524 542,138 641,015 649,517 Financial Trends
Water - Changes in Net Position
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
~ ~ @
*
#
⌂
**
($20,000)
$80,000
$180,000
$280,000
$380,000
$480,000
$580,000
$680,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Water Expenses, Transfers and Capital Contributions
Personnel services
Contractual services
Materials and supplies
Depreciation and amortization
Services provided by other departments
General and Administrative and Other operating Expenses Interest expenses net of amorized costs
Non-operating expenses
Transfers in (out) Capital contributions
Statistical Section

186 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Co mmission Audited Financial Statements.

Revenues: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Charges for services $ 233,628 235,479 244,705 244,604 249,203 267,601 303,037 317,761 331,721 318,236 Rents and concessions 806 892 828 821 753 606 611 702 664 642 Other operating revenues 10,527 16,183 14,564 10,577 11,819 9,134 11,448 12,618 11,743 8,787 Subtotal operating revenues 244,961 252,554 260,097 256,002 261,775 277,341 315,096 331,081 344,128 327,665 Interest and investment income (loss) 2,975 524 2,400 1,207 1,185 2,327 2,317 20,701 12,137 (1,187) Other non-operating revenues 7,692 24,886 6,882 6,564 8,263 8,633 5,330 6,164 5,596 4,911 Subtotal non-operating revenues 10,667 25,410 9,282 7,771 9,448 10,960 7,647 26,865 17,733 3,724 Total revenues $ 255,628 277,964 269,379 263,773 271,223 288,301 322,743 357,946 361,861 331,389 Financial Trends
Wastewater - Changes in Net Position
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
$100,000
$130,000
$160,000
$190,000
$220,000
$250,000
$280,000
$310,000
$340,000
$370,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Wastewater Revenues
Rents and concessions
Other non-operating revenues
Interest and investment income (loss)
Other operating revenues
Charges for services
Statistical Section

187 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

^ The beginning net position for fiscal years 2012 and 2013 have been restated for the retrospective application of GASB Stat ement No. 65. * The Wastewater Enterprise recorded certain immaterial corrections to the 2018 financial statement to eliminate the recognition of certain capital assets that are record ed by another fund. The impact of the change was to decrease beginning position as of July 2017 by $6,767 and increase fiscal year 2018 expenses by $28,313. ~ The beginning net position for fiscal year 2015 has been restated for the retrospective application of GASB Statement No. 6 8. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 75. ^^Non-operating expense includes net loss/gain from sales of assets.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Expenses: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Personnel services $ 82,709 84,155 85,114 76,396 79,088 115,288 91,977 80,693 91,013 90,449 Contractual services 13,257 13,418 14,314 13,841 15,069 13,825 16,061 19,040 19,357 18,861 Materials and supplies 8,921 10,481 10,830 9,815 10,192 8,736 9,446 9,853 8,991 9,091 Depreciation and amortization 44,799 46,347 48,402 50,254 50,799 55,441 55,591 60,033 62,967 72,018 Services provided by other departments 33,292 34,141 35,274 36,212 36,157 36,832 36,374 36,629 37,309 38,313 General and administrative and
Other operating expenses 12,879 19,718 22,406 29,967 30,248 14,098 29,457 53,565 42,622 63,488 Subtotal operating expenses 195,857 208,260 216,340 216,485 221,553 244,220 238,906 259,813 262,259 292,220 Interest expenses 18,798 19,723 27,126 22,791 22,251 28,474 24,978 43,803 43,216 34,862 Amortization of premium, refunding loss,
and issuance costs (62) (612) (7,711) (5,347) (2,979) (5,806) (5,400) (5,697) (8,647) (8,497) Non-operating expenses 1,962 566 533 280 485 383 414 1,013 52 409 Subtotal non-operating expenses 20,698 19,677 19,948 17,724 19,757 23,051 19,992 39,119 34,621 26,774 Total expenses 216,555 227,937 236,288 234,209 241,310 267,271 258,898 298,932 296,880 318,994 Change in net position before transfers 39,073 50,027 33,091 29,564 29,913 21,030 63,845 59,014 64,981 12,395 Transfers in (out) (1) 888 19 (232) (16,025) (30,707) (26,960) (3,996) (1,188) (2,748) Change in net position 39,072 50,915 33,110 29,332 13,888 (9,677) 36,885 55,018 63,793 9,647 Net position at beginning of year
Beginning of year, as previously reported 1,061,281 1,100,353 1,148,757 1,181,867 1,142,052 1,155,940 1,146,263 1,174,125 1,229,143 1,292,936 Cumulative effect of accounting change due to error — — — — — — (6,767) — — — Cumulative effect of accounting change (2,511) (2,511) — (69,147) — — (2,256) — — — Beginning of year as restated 1,058,770 1,097,842 1,148,757 1,112,720 1,142,052 1,155,940 1,137,240 1,174,125 1,229,143 1,292,936 Net Position at end of year $ 1,097,842 1,148,757 1,181,867 1,142,052 1,155,940 1,146,263 1,174,125 1,229,143 1,292,936 1,302,583 Financial Trends
Wastewater - Changes in Net Position
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
^^
^ ^ ~ ⌂
*
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Wastewater Expenses and Transfers
Transfers in (out)
Non-operating expenses
Interest expenses net of amortized costs
General and administrative and Other operating expenses Services provided by other departments
Depreciation and amortization
Materials and supplies
Contractual services
Personnel services
Statistical Section

188 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Revenues: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Charges for services $ 32,386 37,284 35,521 38,731 38,624 35,008 33,427 33,880 34,797 46,979 Rents and concessions 109 110 101 104 118 142 133 125 156 111 Subtotal operating revenues 32,495 37,394 35,622 38,835 38,742 35,150 33,560 34,005 34,953 47,090 Interest and investment income (loss) 874 (344) 487 (74) (38) 46 218 2,670 1,932 (232) Other non-operating revenues 57 290 69 250 200 616 1,237 3,013 3,861 1,352 Subtotal non-operating revenues 931 (54) 556 176 162 662 1,455 5,683 5,793 1,120 Total revenues $ 33,426 37,340 36,178 39,011 38,904 35,812 35,015 39,688 40,746 48,210 Financial Trends
Hetchy Water - Changes in Net Position
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Hetchy Water Revenues
Other non-operating revenues
Interest and investment income (loss)
Rents and concessions
Charges for services
Statistical Section

189 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Include transfer of $166 in capital asset from the Department of Emergency Management. # The beginning net position for fiscal year 2015 has been restated for the retrospective application of GASB Statement No. 68. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 7 5.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Expenses: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Personnel services $ 12,856 13,057 13,343 11,557 12,183 21,998 14,516 13,707 16,304 19,871 Contractual services 1,090 889 835 794 902 1,017 1,524 1,205 1,642 2,415 Materials and supplies 1,208 1,331 1,352 1,321 1,191 1,161 1,101 1,133 1,337 1,272 Depreciation and amortization 4,059 4,378 4,186 4,102 3,874 4,505 5,066 5,380 5,276 6,009 Services provided by other departments 984 1,706 1,211 1,979 2,054 1,962 1,572 1,622 1,853 2,517 General and administrative and
Other operating expenses 16,806 13,540 14,098 18,948 16,332 19,456 16,013 27,258 18,461 18,433 Subtotal operating expenses 37,003 34,901 35,025 38,701 36,536 50,099 39,792 50,305 44,873 50,517 Non-operating expenses 68 68 99 313 68 68 68 — 11 63 Total expenses 37,071 34,969 35,124 39,014 36,604 50,167 39,860 50,305 44,884 50,580 Change in net position before transfers
capital contributions and extraordinary item (3,645) 2,371 1,054 (3) 2,300 (14,355) (4,845) (10,617) (4,138) (2,370) Capital contributions — — 166 — — — — — — —
Transfers in (out) 14,073 — — — — 60,000 30,000 20,000 14,000 16,000 Extraordinary item:

Rim fire — loss — — (2,709) — — — — — — —
Change in net position 10,428 2,371 (1,489) (3) 2,300 45,645 25,155 9,383 9,862 13,630 Net position at beginning of year
Beginning of year, as previously reported 126,094 136,522 138,893 137,404 120,411 122,711 168,356 191,790 201,173 211,035 Cumulative effect of accounting change — — — (16,990) — — (1,721) — — — Beginning of year as restated 126,094 136,522 138,893 120,414 120,411 122,711 166,635 191,790 201,173 211,035 Net position at end of year $ 136,522 138,893 137,404 120,411 122,711 168,356 191,790 201,173 211,035 224,665 Financial Trends
Hetchy Water - Changes in Net Position
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
⌂#
*
($100)
$19,900
$39,900
$59,900
$79,900
$99,900
$119,900
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Hetchy Water Expenses, Transfers and Capital Contributions Capital contributions
Transfers in (out)
Non-operating expenses
General and administrative and Other operating expenses Services provided by other departments
Depreciation and amortization
Materials and supplies
Contractual services
Personnel services
Statistical Section

190 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements.

Revenues: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Charges for services $ 94,680 96,398 98,693 108,841 125,850 120,789 118,672 143,409 140,680 136,247 Rents and concessions 134 135 123 127 144 173 163 152 191 136 Subtotal operating revenues 94,814 96,533 98,816 108,968 125,994 120,962 118,835 143,561 140,871 136,383 Interest and investment income 2,589 139 1,289 1,253 1,318 1,718 2,537 6,883 5,746 24 Other non-operating revenues 5,800 4,892 5,798 9,302 12,256 11,764 10,073 10,907 25,006 19,273 Subtotal non-operating revenues 8,389 5,031 7,087 10,555 13,574 13,482 12,610 17,790 30,752 19,297 Total revenues $ 103,203 101,564 105,903 119,523 139,568 134,444 131,445 161,351 171,623 155,680 Financial Trends
Hetchy Power - Changes in Net Position
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
$85,000
$92,500
$100,000
$107,500
$115,000
$122,500
$130,000
$137,500
$145,000
$152,500
$160,000
$167,500
$175,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Hetchy Power Revenues
Rents and concessions
Other non-operating revenues
Interest and investment income
Charges for services
Statistical Section

191 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* The beginning net position for fiscal years 2012 and 2013 have been restated for the retrospective application of GASB Statem ent No. 65. # Include transfer of $202 in capital asset from the Department of Emergency Management. ^ The beginning net position for fiscal year 2015 has been restated for the retrospective application of GASB Statement No. 68. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 7 5.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Expenses: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Personnel services $ 31,719 33,564 33,762 33,240 33,632 44,961 34,950 37,583 40,712 40,756 Contractual services 4,726 4,956 4,063 7,852 5,493 4,916 5,526 6,086 7,742 8,726 Purchased power & related costs 21,539 20,891 26,215 20,296 26,792 20,970 34,435 47,437 48,831 42,693 Materials and supplies 1,694 1,671 2,075 1,039 1,849 1,510 1,541 672 2,260 1,990 Depreciation and amortization 9,796 11,079 11,128 13,785 12,639 13,225 14,049 14,484 15,723 15,627 Services provided by other departments 4,840 5,002 5,577 5,979 7,397 6,716 5,848 6,833 6,426 6,137 General and administrative and
Other operating expenses 19,293 16,096 18,220 23,031 24,157 24,637 23,046 9,593 26,433 29,709 Subtotal operating expenses 93,607 93,259 101,040 105,222 111,959 116,935 119,395 122,688 148,127 145,638 Interest expenses 85 1,641 1,574 1,815 3,355 3,200 3,103 2,936 2,740 1,970 Amortization of premium, discount,
and issuance costs 38 7 (28) 893 (122) (255) (248) (237) (228) (219) Non-operating expenses 3,217 3,025 2,485 2,494 1,676 1,408 1,727 1,365 1,060 902 Total expenses 96,947 97,932 105,071 110,424 116,868 121,288 123,977 126,752 151,699 148,291 Change in net position before transfers
capital contributions and extraordinary item 6,256 3,632 832 9,099 22,700 13,156 7,468 34,599 19,924 7,389 Capital contributions — — 202 — — — — — — —
Transfers in (out) (2) (196) (38) 2,043 680 51 (425) 4,490 (32) (532) Extraordinary item:

Rim fire — loss — — (4,134) — — — — — — —
Change in net position 6,254 3,436 (3,138) 11,142 23,380 13,207 7,043 39,089 19,892 6,857 Net position at beginning of year
Beginning of year, as previously reported 369,814 376,130 379,284 376,146 366,523 389,903 401,686 406,626 445,715 465,607 Cumulative effect of accounting change (220) (282) — (20,765) — — (2,103) — — — Less: CleanPowerSF beginning net position — — — — — (1,424) — — — — Beginning of year as restated 369,594 375,848 379,284 355,381 366,523 388,479 399,583 406,626 445,715 465,607 Net position at end of year $ 375,848 379,284 376,146 366,523 389,903 401,686 406,626 445,715 465,607 472,464 Financial Trends
Hetchy Power - Changes in Net Position
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
⌂* * ^
#
$20,000
$35,000
$50,000
$65,000
$80,000
$95,000
$110,000
$125,000
$140,000
$155,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Hetchy Power Expenses, Transfers and Capital Contributions Capital contributions
Transfers in (out)
Non-operating expenses
Interest expenses net of amortized costs
General and administrative and Other operating expenses Services provided by other departments
Depreciation and amortization
Materials and supplies
Purchased power & related costs
Contractual services
Personnel services
Statistical Section

192 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

* CleanPowerSF was presented as part of Hetchy Power in fiscal year 2016. ^ Increase in charges for services is due to completion of city-wide enrollment.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Revenues: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Charges for services $ 0 0 0 0 0 33,867 39,568 167,820 245,460 ^ 207,698 Rents and concessions 0 0 0 0 0 —   —   —   —   —
Subtotal operating revenues 0 0 0 0 0 33,867 39,568 167,820 245,460 207,698 Interest and investment income 0 0 0 0 0 89   174   735   1,771   51 Other non-operating revenues 0 0 0 0 0 4   1   —   1   927 Subtotal non-operating revenues —   —   —   —   —   93   175   735   1,772   978 Total revenues $ —   —   —   —   —   33,960 39,743 168,555 247,232 208,676 Financial Trend
CleanPowerSF - Changes in Net Position
Fiscal Years Ended 2017 to 2021
(Dollars in Thousands)
*Data not available - CleanPowerSF launched in
May 2016.
* Hetch Hetchy Water and Power Enterprise began separate reporting of the two funds in fiscal year 2008. $25,000
$50,000
$75,000
$100,000
$125,000
$150,000
$175,000
$200,000
$225,000
$250,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
CleanPowerSF Revenues
Rents and concessions
Other non-operating revenues
Interest and investment income
Charges for services
*Data not available -
CleanPowerSF launched in May
2016.

Statistical Section

193 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* CleanPowerSF was presented as part of Hetchy Power in fiscal year 2016. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 7 5. ^ Increase in purchased power and related costs is due to higher enrollment and electricity sales.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Expenses: 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Personnel services $ 1,213 2,150 4,612 7,920 7,641 Contractual services 1,141 2,166 4,786 7,557 7,028 Purchased power & related costs 22,437 30,297 122,838 174,770 ^ 190,989 Materials and supplies 1 — 51 57 26
Depreciation and amortization — — — — —
Services provided by other departments 734 1,545 3,208 2,728 3,928 General & administrative and
other operating expenses 1,570 2,270 1,789 2,994 3,104 Subtotal operating expenses — — — — — 27,096 38,428 137,284 196,026 212,716 Interest expenses — — — — — 70 101 130 69 18
Total expenses — — — — — 27,166 38,529 137,414 196,095 212,734 Change in net position - - - - - 6,794 1,214 31,141 51,137 (4,058) Net position at beginning of year - - - - - Beginning of year, as previously reported 1,424 8,218 8,860 40,001 91,138 Cumulative effect of accounting change — (572) Beginning of year as restated 1,424 7,646 8,860 40,001 91,138 Net position at end of year $ - - - - - 8,218 8,860 40,001 91,138 87,080 Financial Trend
CleanPowerSF - Changes in Net Position
Fiscal Years Ended 2017 to 2021
(Dollars in Thousands)
*Data not available - CleanPowerSF launched in
May 2016.
⌂
$0
$25,000
$50,000
$75,000
$100,000
$125,000
$150,000
$175,000
$200,000
$225,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
CleanPowerSF Expenses
Interest expenses net of amortized costs
General & administrative and Other operating expenses
Services provided by other departments
Depreciation and amortization
Materials and supplies
Purchased power & related costs
Contractual services
Personnel services
*Data not available - CleanPowerSF launched in
May 2016.

Statistical Section

194 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

^ The beginning net position for fiscal years 2012 and 2013 have been restated for the retrospective application of GASB Statement No. 65. * The beginning net position for fiscal year 2015 have been restated for the cumulative effect of accounting change per GASB Statement No. 68. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 75.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Net investment in capital assets $ 1,645,558 1,762,526 1,769,815 1,859,439 2,011,814 1,979,445 2,087,816 2,147,756 2,194,130 2,271,638 Restricted for debt service 28,240 33,683 25,990 1,704 13,409 12,451 25,079 18,617 17,285 48,677 Restricted for capital projects 47,734 114,299 131,590 120,496 60,357 39,557 44,690 26,906 49,635 22,319 Unrestricted 214,522 456,057 422,234 243,812 205,642 194,337 113,340 264,891 440,681 393,675 Total net position $ 1,936,054 2,366,565 2,349,629 2,225,451 2,291,222 2,225,790 2,270,925 2,458,170 2,701,731 2,736,309 Department-wide - Summary of Net Position by Component
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
⌂^ ^ *
$0
$700,000
$1,400,000
$2,100,000
$2,800,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Department-wide Net Position by Component
Net investment in capital assets Restricted for debt service Restricted for capital projects Unrestricted Total net position Statistical Section

195 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

^ The beginning net position for fiscal years 2012 and 2013 have been restated for the retrospective application of GASB Stat ement No. 65. * The beginning net position for fiscal year 2015 have been restated for the cumulative effect of accounting change per GASB Statement No. 68. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 7 5.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Net investment in capital assets $ 268,614 364,863 366,799 425,073 543,327 495,868 504,476 563,457 527,856 517,302 Restricted for debt service 27,213 32,723 25,356 1,053 12,122 10,989 22,933 16,193 15,916 45,586 Restricted for capital projects 13,665 103,616 103,154 95,735 40,743 37,904 32,978 —   43,122 22,319 Unrestricted 16,350 198,429 158,903 74,604 26,476 (43,494) (70,863) (37,512) 54,121 64,310 Total net position $ 325,842 699,631 654,212 596,465 622,668 501,267 489,524 542,138 641,015 649,517 Financial Trends
Water - Summary of Net Position by Component
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
^ ^ * ⌂
-$80,000
$20,000
$120,000
$220,000
$320,000
$420,000
$520,000
$620,000
$720,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Water Net Position by Component
Net investment in capital assets Restricted for debt service Restricted for capital projects Unrestricted Total net position Statistical Section

196 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

^ The beginning net position for fiscal years 2012 and 2013 have been restated for the retrospective application of GASB Stat ement No. 65. * The beginning net position for fiscal year 2015 have been restated for the cumulative effect of accounting change per GASB Statem ent No. 68. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 75.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Net investment in capital assets $ 1,067,586 1,074,526 1,066,814 1,088,552 1,098,723 1,095,165 1,172,623 1,133,662 1,183,288 1,253,789 Restricted for debt service 1,027 960 634 349 981 977 1,312 1,279 1,227 2,992 Restricted for capital projects 19,787 2,931 22,929 20,327 18,205 1,653 —   18,505 —   — Unrestricted 9,442 70,340 91,490 32,824 38,031 48,468 190 75,697 108,421 45,802 Total net position $ 1,097,842 1,148,757 1,181,867 1,142,052 1,155,940 1,146,263 1,174,125 1,229,143 1,292,936 1,302,583 Financial Trends
Wastewater - Summary of Net Position by Component
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
^ ^ * ⌂
$0
$150,000
$300,000
$450,000
$600,000
$750,000
$900,000
$1,050,000
$1,200,000
$1,350,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Wastewater Net Position by Component
Net investment in capital assets Restricted for debt service Restricted for capital projects Unrestricted Total net position Statistical Section

197 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* The beginning net position for fiscal year 2015 have been restated for the cumulative effect of accounting change per GASB Statement No. 68. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 7 5.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Net investment in capital assets $ 87,941 91,228 95,186 104,330 113,867 127,731 139,799 149,103 160,782 177,481 Restricted for debt service — — — — — — — — — — Restricted for capital projects 14,170 7,752 5,507 4,434 1,409 — 11,712 8,401 6,513 — Unrestricted 34,411 39,913 36,711 11,647 7,435 40,625 40,279 43,669 43,740 47,184 Total net position $ 136,522 138,893 137,404 120,411 122,711 168,356 191,790 201,173 211,035 224,665 Financial Trends
Hetchy Water - Summary of Net Position by Component
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
⌂*
$0
$50,000
$100,000
$150,000
$200,000
$250,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Hetchy Water Net Position by Component
Net investment in capital assets Restricted for capital projects Unrestricted Restricted for debt service Total net position Statistical Section

198 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

^ The beginning net position for fiscal years 2012 and 2013 have been restated for the retrospective application of GASB Statement No. 65. * The beginning net position for fiscal year 2015 have been restated for the cumulative effect of accounting change per GASB Statement No. 68. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 75.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Net investment in capital assets $ 221,417 231,909 241,016 241,484 255,897 260,681 270,918 301,534 322,204 323,066 Restricted for debt service — — — 302 306 485 834 1,145 142 99 Restricted for capital projects 112 — — — — — — — — — Unrestricted 154,319 147,375 135,130 124,737 133,700 140,520 134,874 143,036 143,261 149,299 Total net position $ 375,848 379,284 376,146 366,523 389,903 401,686 406,626 445,715 465,607 472,464 Financial Trends
Hetchy Power - Summary of Net Position by Component
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
⌂*^ ^
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Hetchy Power Net Position by Component
Net investment in capital assets Restricted for capital projects Unrestricted Restricted for debt service Total net position Statistical Section

199 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* CleanPowerSF was presented as part of Hetchy Power in fiscal year 2016. ⌂ The beginning net position for fiscal year 2018 has been restated for the retrospective application of GASB Statement No. 7 5. ^ Increase in fiscal year 2020 is due to completion of citywide enrollment.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Net investment in capital assets $ — — — — —
Restricted for debt service — — — — —
Restricted for capital projects — — — — —
Unrestricted 8,218 8,860 40,001 91,138 87,080
Total net position $ 8,218 8,860 40,001 91,138 87,080
Financial Trend
CleanPowerSF - Summary of Net Position by Component
Fiscal Years Ended 2017 to 2021
(Dollars in Thousands)
*Data not available -CleanPowerSF launched in May
2016.
⌂ ^
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$100,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
CleanPowerSF Net Position by Component
Net investment in capital assets Restricted for capital projects Unrestricted Restricted for debt service Total net position
*Data not available - CleanPowerSF
launched in May 2016.

Statistical Section

200 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Include amortizable and non-amortizable intangible assets.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Buildings, equipment and structures $ 5,555,284 6,238,702 6,790,353 7,800,455 8,565,038 8,736,914 9,084,980 10,483,615 10,957,712 11,369,025 Less accumulated depreciation (2,133,525) (2,266,290) (2,413,969) (2,572,737) (2,742,700) (2,930,531) (3,120,191) (3,316,443) (3,538,382) (3,773,696) Subtotal 3,421,759 3,972,412 4,376,384 5,227,718 5,822,338 5,806,383 5,964,789 7,167,172 7,419,330 7,595,329 Intangible assets, net of amortization* 44,596 41,525 39,122 38,885 36,674 34,904 36,956 34,853 32,528 35,102 Land and rights-of-way 50,641 64,764 67,290 67,213 67,213 67,301 70,947 71,228 155,089 154,001 Construction work in progress 1,586,702 1,789,980 2,012,810 1,625,592 1,436,187 1,841,297 2,161,089 1,387,840 1,592,097 2,079,754 Total capital assets, net of
depreciation and amortization $ 5,103,698 5,868,681 6,495,606 6,959,408 7,362,412 7,749,885 8,233,781 8,661,093 9,199,044 9,864,186 Financial Trends
Department-wide Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
$0
$1,500,000
$3,000,000
$4,500,000
$6,000,000
$7,500,000
$9,000,000
$10,500,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Department-wide Investments in Capital Assets
Intangible assets Land and rights-of-way
Construction work in progress Buildings, equipment and structures Total capital assets, net of depreciation and amortization Statistical Section

201 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Include amortizable and non-amortizable intangible assets.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Buildings, equipment and structures $ 2,618,140 3,177,874 3,594,412 4,497,411 5,036,587 5,100,680 5,217,106 6,399,688 6,577,333 6,739,364 Less accumulated depreciation (804,377) (876,972) (962,863) (1,054,987) (1,158,520) (1,274,504) (1,391,274) (1,509,481) (1,648,895) (1,791,178) Subtotal 1,813,763 2,300,902 2,631,549 3,442,424 3,878,067 3,826,176 3,825,832 4,890,207 4,928,438 4,948,186 Intangible assets, net of amortization* 9,832 8,030 6,896 7,244 5,843 4,671 7,321 5,816 4,089 2,763 Land and rights-of-way 24,711 24,307 26,811 26,811 26,811 26,777 30,029 30,029 105,336 104,248 Construction work in progress 1,385,860 1,525,689 1,662,294 1,176,805 987,780 1,195,840 1,400,051 462,606 492,682 532,602 Total capital assets, net of
depreciation and amortization $ 3,234,166 3,858,928 4,327,550 4,653,284 4,898,501 5,053,464 5,263,233 5,388,658 5,530,545 5,587,799 (Dollars in Thousands)
Financial Trends
Water - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2012 to 2021
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Water Investments in Capital Assets
Intangible assets Land and rights-of-way
Construction work in progress Buildings, equipment and structures Total capital assets, net of depreciation and amortization Statistical Section

202 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Include amortizable and non-amortizable intangible assets.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Buildings, equipment and structures $ 2,365,601 2,481,895 2,588,575 2,665,863 2,842,648 2,904,499 3,094,871 3,271,188 3,520,624 3,702,375 Less accumulated depreciation (992,972) (1,038,309) (1,085,418) (1,134,843) (1,185,275) (1,240,172) (1,295,323) (1,354,209) (1,416,292) (1,488,148) Subtotal 1,372,629 1,443,586 1,503,157 1,531,020 1,657,373 1,664,327 1,799,548 1,916,979 2,104,332 2,214,227 Intangible assets, net of amortization* 5,595 4,809 4,023 3,921 3,594 3,457 3,320 3,183 3,046 7,407 Land and rights-of-way 21,210 35,737 35,737 35,737 35,737 35,737 35,737 36,018 44,572 44,572 Construction work in progress 134,703 176,711 262,642 362,110 362,958 548,179 652,521 765,624 910,338 1,340,644 Total capital assets, net of
depreciation and amortization $ 1,534,137 1,660,843 1,805,559 1,932,788 2,059,662 2,251,700 2,491,126 2,721,804 3,062,288 3,606,850 Financial Trends
Wastewater - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Wastewater Investments in Capital Assets
Intangible assets Land and rights-of-way
Construction work in progress Buildings, equipment and structures Total capital assets, net of depreciation and amortization Statistical Section

203 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Include amortizable and non-amortizable intangible assets.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Buildings, equipment and structures $ 212,935 213,936 216,910 221,345 242,936 261,139 276,177 281,562 311,783 323,486 Less accumulated depreciation (154,688) (158,796) (162,724) (166,546) (170,199) (174,352) (179,139) (184,312) (189,350) (195,151) Subtotal 58,247 55,140 54,186 54,799 72,737 86,787 97,038 97,250 122,433 128,335 Intangible assets, net of amortization* 12,446 12,239 12,032 11,825 11,618 11,410 11,203 10,996 10,789 10,581 Land and rights-of-way 3,028 3,028 3,038 3,003 3,003 3,055 3,232 3,232 3,232 3,232 Construction work in progress 14,220 20,821 25,922 34,703 26,509 26,479 28,326 37,625 24,328 35,333 Total capital assets, net of
depreciation and amortization $ 87,941 91,228 95,178 104,330 113,867 127,731 139,799 149,103 160,782 177,481 (Dollars in Thousands)
Financial Trends
Hetchy Water - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2012 to 2021
$0
$60,000
$120,000
$180,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Hetchy Water Investments in Capital Assets
Intangible assets Land and rights-of-way
Construction work in progress Buildings, equipment and structures Total capital assets, net of depreciation and amortization Statistical Section

204 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Include amortizable and non-amortizable intangible assets.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

CleanPowerSF does not have any capital assets as of fiscal year 2021.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Buildings, equipment and structures $ 358,608 364,997 390,456 415,836 442,867 470,596 496,826 531,177 547,972 603,800 Less accumulated depreciation (181,488) (192,213) (202,964) (216,361) (228,706) (241,503) (254,455) (268,441) (283,845) (299,219) Subtotal 177,120 172,784 187,492 199,475 214,161 229,093 242,371 262,736 264,127 304,581 Intangible assets, net of amortization* 16,723 16,447 16,171 15,895 15,619 15,366 15,112 14,858 14,604 14,351 Land and rights-of-way 1,692 1,692 1,704 1,662 1,662 1,732 1,949 1,949 1,949 1,949 Construction work in progress 51,919 66,759 61,952 51,974 58,940 70,799 80,191 121,985 164,749 171,175 Total capital assets, net of
depreciation and amortization $ 247,454 257,682 267,319 269,006 290,382 316,990 339,623 401,528 445,429 492,056 (Dollars in Thousands)
Financial Trends
Hetchy Power - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2012 to 2021
$0
$100,000
$200,000
$300,000
$400,000
$500,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Hetchy Power Investments in Capital Assets
Intangible assets Land and rights-of-way
Construction work in progress Buildings, equipment and structures Total capital assets, net of depreciation and amortization

Photo by: Robin Scheswohl

Golden Gate Park Historic Fixtures with LED
lights.

Revenue Capacity

Water Rates History

Wastewater Rates History

Hetchy Power Electric Rates History

CleanPowerSF Electric Rates History

Net Revenue and Debt Service Coverage

Photo by: Robin Scheswohl

Power System Improvements -- extends the underground electrical duct banks and vaults.

Statistical Section

205 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 Monthly service charge for 5/8" meter. Larger meter sizes charged at different rates. 2 Rates approved on May 13, 2014.
3 Effective July 1, 2015, the Single-Family Residential Tier 1 changed from 0-3 ccf to 0-4 ccf. 4 The percentage increase/(decrease) is based on an average monthly bill of 6 ccf for Single -Family and 4 ccf for Multiple-Family. 5 Rates approved on May 8, 2018.

Source: San Francisco Public Utilities Commission Annual Disclosure Reports and Rate Schedules.

Rates Per Hundred Cubic Feet
Fiscal
Years
Ended
June 30
Service
Charge
($)¹
Volume
Charge
($/ccf)
(0-3 ccf)
Volume
Charge
($/ccf)
(over 3 ccf)
% Increase/
(Decrease) 4
Volume
Charge
($/ccf)
(0-3 ccf)
Volume
Charge
($/ccf)
(over 3 ccf)
% Increase/
(Decrease) 4
Volume
Charge
($/ccf)
% Increase/
(Decrease)
Volume
Charge
($/ccf)
% Increase/
(Decrease)
2012 7.00 3.50 4.60 12.5 3.70 4.90 12.7 4.52 16.2 2.63 38.4 2013 7.90 3.90 5.20 12.5 4.20 5.50 13.0 5.10 12.8 2.93 11.4 2014 8.40 4.20 5.50 6.5 4.50 5.90 6.9 5.40 5.9 2.45 (16.4) Fiscal
Years
Ended
June 30
Service
Charge
($)¹
Volume
Charge
($/ccf)
(0-4 ccf)
Volume
Charge
($/ccf)
(over 4 ccf)
% Increase/
(Decrease) 4
Volume
Charge
($/ccf)
(0-3 ccf)
Volume
Charge
($/ccf)
(over 3 ccf)
% Increase/
(Decrease) 4
Volume
Charge
($/ccf)
% Increase/
(Decrease)
Volume
Charge
($/ccf)
% Increase/
(Decrease)
2015 8.81 4.86 6.52 10.1 4.98 6.67 9.4 5.79 7.2 2.93 19.6 2016 9.87 5.45 7.31 12.1 5.58 7.48 12.1 6.49 12.1 3.75 28.0 2017 10.86 6.00 8.05 10.1 6.14 8.23 10.0 7.14 10.0 4.10 9.3 2018 11.63 6.42 8.62 7.0 6.57 8.81 7.0 7.64 7.0 4.10 0.0 2019 12.30 7.10 9.10 8.0 7.22 9.26 7.6 8.43 10.3 4.10 0.0 2020 13.28 7.85 9.61 8.5 7.94 9.73 8.4 9.14 8.4 4.10 0.0 2021 14.19 8.68 10.15 8.3 8.73 10.23 8.1 9.81 7.3 4.10 0.0 Single-Family Multiple-Family Non-Residential
Retail Wholesale
Single-Family Multiple-Family Non-Residential
Retail Wholesale
Revenue Capacity
Water Rate History
Fiscal Years Ended 2012 to 2021
2, 3
5 5
5 Statistical Section

206 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 Effective July 1, 2015, the Single-Family Residential Tier 1 rate structure changed from 0 -3 ccf to 0-4 ccf. 2 Four years of rates were approved on May 13, 2014.
3 The percentage increase/(decrease) is based on an average monthly bill of 5.4 ccf for Sing le-Family (based on a 90% flow factor) and 3.8 ccf for Multiple -Family (based on a 95% flow factor).
4 Effective July 1, 2017, no tiers for wastewater volumetric charges for single -family and multi-family residential wastewater. 5 Effective July 1, 2018, all wastewater customers pay a monthly service charge per account. 6 Rates approved on May 22, 2018.

Source: San Francisco Public Utilities Commission Annual Disclosure Reports and Rate Schedules.

Rates Per Hundred Cubic Feet
Fiscal
Years
Ended
June 30
Volume
Charge
($/ccf)
(0-3 ccf)
Volume Charge
($/ccf)
(over 3 ccf)
% Increase/
(Decrease) 3
Volume Charge
($/ccf)
(0-3 ccf)
Volume
Charge
($/ccf)
(over 3 ccf)
% Increase/
(Decrease) 3
Volume Charge
($/ccf)
Chemical
Oxygen
Demand
Charge ($/lb)
Suspended
Solids
Charge
($/lb)
Oil and
Grease
Charge
($/lb)
2012 7.16 9.55 3.6 7.49 9.99 15.1 6.55 0.22 0.88 1.10
2013 7.52 10.03 5.1 7.86 10.49 5.0 6.55 0.22 0.88 1.10
2014 7.90 10.53 5.0 8.25 11.01 5.0 6.62 0.22 0.89 1.11
Fiscal
Years
Ended
June 30
Volume
Charge
($/ccf)
(0-4 ccf)
Volume Charge
($/ccf)
(over 4 ccf)
% Increase/
(Decrease) 3
Volume Charge
($/ccf)
(0-3 ccf)
Volume
Charge
($/ccf)
(over 3 ccf)
% Increase/
(Decrease) 3
Volume Charge
($/ccf)
Chemical
Oxygen
Demand
Charge ($/lb)
Suspended
Solids
Charge
($/lb)
Oil and
Grease
Charge
($/lb)
2015 9.06 11.23 6.1 9.24 11.48 10.0 6.15 0.44 0.83 0.87 2016 9.82 11.34 6.9 9.95 11.51 5.8 6.45 0.46 0.87 0.91
2017 10.84 11.66 9.0 10.91 11.75 7.9 6.90 0.49 0.93 0.97 2018 12.40 12.40 12.2 12.40 12.40 11.8 7.66 0.55 1.03 1.08 Fiscal
Years
Ended
June 30
Service
Charge ($) 5
Volume Charge
($/ccf)
% Increase/
(Decrease) 3
Volume Charge
($/ccf)
% Increase/
(Decrease) 3
Volume
Charge
($/ccf)
Chemical
Oxygen
Demand
Charge ($/lb)
Suspended
Solids Charge
($/lb)
Oil and
Grease
Charge
($/lb)
2019 0.98 13.06 4.5 13.06 3.5 7.84 0.52 1.30 1.33
2020 2.19 13.88 6.6 13.88 5.3 8.29 0.56 1.41 1.42
2021 3.60 14.89 9.1 14.89 7.4 8.86 0.60 1.53 1.54
Single-Family
Revenue Capacity
Wastewater Rate History
Fiscal Years Ended 2012 to 2021
Single-Family Multiple-Family Non-Residential
Single-Family Multiple-Family Non-Residential
Multiple-Family Non-Residential
1,2
4 6
6 6
Statistical Section

207 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Residential rates include master -metered multi -family services (EM) and multi -family services (ES). Tiers for Residential Public Power vary between Winter and Summer months.
** TOU stands for time-of-use.
# Prior to fiscal year 2019, the General Fund rate shown was one of six rates being charged to customers. In fiscal year 2019, the six rates were consolidated into one, which was set to a ½ cent per kWh increase from the weighted average of the six prior rates. The decrease in fiscal year 2019 is a function of the change in what this line item represents – rates did not decrease.

The rates shown for each year are average rates per kWh charged in the months including June for residential, commercial, and industrial rates. Rates are subject to change at any time.

Source: San Francisco Public Utilities Commission Rates Schedules and Fees and PG&E electric rates schedules.

Rates Per Kilowatt Hour 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Residential*
Residential Services - Multi-family $ 0.18581 0.18590 0.20052 0.20526 0.21784 0.23073 0.22894 0.23298 0.26429 0.28308 Residential - Public Power
Tier 1 0.10689 0.10931 0.11200 0.11451 0.11705 0.13391 0.14198 0.14610 0.14868 0.15537 Tier 2 0.12152 0.12427 0.12733 0.13018 0.13306 0.15222 0.16139 0.16607 0.16900 0.17661 Tier 3 0.24877 0.25440 0.26065 0.26649 0.27238 0.31160 0.33037 0.33995 0.34595 0.36153 Commercial
Small General Service 0.18098 0.18531 0.19717 0.21152 0.22560 0.23020 0.23786 0.24931 0.26884 0.27749 Medium General Demand-Metered Service 0.16013 0.15876 0.17573 0.18503 0.19667 0.20346 0.21265 0.21889 0.23721 0.24167 Medium General Demand-Metered TOU** Service 0.12724 0.12833 0.13953 0.14761 0.15049 0.15893 0.16176 0.16709 0.18735 0.18959 Industrial
Service to Customers with equal to or greater than
Demand of 1,000 Kilowatts or More - Secondary Voltage 0.13478 0.13170 0.14434 0.15216 0.15969 0.16868 0.17553 0.18279 0.19804 0.19537 Service to Customers with equal to or greater than
Demand of 1,000 Kilowatts or More - Primary Voltage 0.12247 0.11990 0.13169 0.13908 0.14498 0.15229 0.15874 0.16466 0.17774 0.17627 Service to Customers with equal to or greater than
Demand of 1,000 Kilowatts or More - Transmission
Voltage

0.09907 0.09431 0.10383 0.10608 0.10743 0.11719 0.12501 0.12786 0.14240 0.13414 General Fund City Departments # 0.03750 0.04250 0.04750 0.05750 0.06750 0.07250 0.07750 0.07377 0.07877 0.08877 Streetlights 0.12153 0.13085 0.13840 0.15045 0.15712 0.15874 0.16451 0.17354 0.18693 0.18754 Traffic Signals 0.13571 0.14111 0.14762 0.15866 0.17187 0.18018 0.18432 0.18945 0.20194 0.20413 Revenue Capacity
Hetchy Power Electric Rate History
Fiscal Years Ended 2012 to 2021
Statistical Section

208 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

The rates shown for each year are the average rates per kWh calculated by the SFPUC and PG&E in its Joint Rate Comparisons prepared in 2016 to 20 21. Each average rate is calculated using the energy consumption (and if applicable, demand) of a typical customer on that rate schedule in Sa n Francisco and the rates in place during each reported fiscal year.

* Rate E-TOUC was a new rate beginning fiscal year 2019, and therefore was not included in the Joint Rate Comparison. The same methodo logy to calculate average rate was applied.
# Fiscal year 2021, Rates E-TOU-A and EVA are closed as of January 2021, Rate E-20P was not included due to lack of data to provided average rate.

May exclude new rates due to insufficient data for average rate calculation .

Source: San Francisco Public Utilities Commission and PG&E Joint Rate Comparisons.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 #
Rates per Kilowatt-hour
Residential
E-1 (Green) $ 0.07267 0.07267 0.06836 0.07163 0.08235 0.06918 E-1 (SuperGreen) 0.09267 0.09267 0.08836 0.08663 0.09235 0.07918 E-6 (Green) 0.06719 0.06693 0.05868 0.06612 0.08197 0.06935 E-6 (SuperGreen) 0.08719 0.08693 0.07868 0.08112 0.09197 0.07935 E-TOUA (Green) N/A 0.06801 0.06283 0.06548 0.07702 N/A E-TOUA (SuperGreen) N/A 0.08801 0.08283 0.08048 0.08702 N/A E-TOUB (Green) N/A 0.06819 0.06285 0.06460 0.07598 0.06223 E-TOUB (SuperGreen) N/A 0.08819 0.08285 0.07960 0.08598 0.07223 E-TOUC* (Green) N/A N/A N/A 0.07010 0.07913 0.06449 E-TOUC* (SuperGreen) N/A N/A N/A 0.08510 0.08913 0.07449 EVA (Green) 0.05837 0.05822 0.05350 0.05358 0.06526 N/A EVA (SuperGreen) 0.07837 0.07822 0.07350 0.06858 0.07526 N/A EVB (Green) N/A 0.04747 0.04263 0.03889 0.04692 0.06154 EVB (SuperGreen) N/A 0.06747 0.06263 0.05389 0.05692 0.07154 Commercial
A-1 (Green) 0.07772 0.07740 0.07447 0.07919 0.08011 0.06498 A-1 (SuperGreen) 0.09772 0.09740 0.08847 0.08919 0.08761 0.07248 A-1X (Green) 0.07770 0.07751 0.07509 0.07954 0.08184 0.06600 A-1X (SuperGreen) 0.09770 0.09751 0.08909 0.08954 0.08934 0.07359 A-6 (Green) 0.08883 0.08820 0.08631 0.09491 0.10079 0.09359 A-6 (SuperGreen) 0.10883 0.10820 0.10031 0.10491 0.10829 0.10109 A-10S (Non Time of Use - Green) 0.07940 0.07940 0.07674 0.08355 0.08252 0.06828 A-10S (Non Time of Use - SuperGreen) 0.09940 0.09940 0.09074 0.08855 0.08752 0.07328 A-10SX (Time of Use - Green) 0.07899 0.07813 0.07579 0.08322 0.08185 0.06671 A-10SX (Time of Use - SuperGreen) 0.09899 0.09813 0.08979 0.08822 0.08685 0.07171 E-19S (Green) 0.07925 0.07853 0.07658 0.08336 0.08010 0.06392 E-19S (SuperGreen) 0.09925 0.09853 0.09058 0.08836 0.08510 0.06892 E-19SV (Green) 0.07368 0.07304 0.07104 0.07670 0.07387 0.06150 E-19SV (SuperGreen) 0.09368 0.09304 0.08504 0.08170 0.07887 0.06650 E-20P (Green) 0.07005 0.06895 0.06729 0.07300 0.06958 N/A E-20P (SuperGreen) 0.09005 0.08895 0.08129 0.08300 0.07708 N/A E-20S (Green) 0.07502 0.07395 0.07167 0.07774 0.07434 0.06282 E-20S (SuperGreen) 0.09502 0.09395 0.08567 0.08774 0.08184 0.07032 Revenue Capacity
CleanPowerSF Electric Rate History
Fiscal Years Ended 2016 to 2021
*Data not available -
CleanPowerSF launched in
May 2016.

Statistical Section

209 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 Adjustment of investing activities and non-operating revenues to a cash basis. 2 As per the Indenture, in addition to current year cash flow, the coverage calculation permits the inclusion of all funds exce pt for Trust and Agency Fund not budgeted to be spent in such months and legally available to pay debt service. 3 Revenue debt ser vice is calculated net of capitalized interest and federal interest subsidy the Commission is scheduled to receive during the 12-month period ending June 30 for any series of bonds.
4 Net revenues beginning fiscal years 2016 includes appropriated available funds. # Starting fiscal year 2021, Treasure Island revenue and expenses are excluded from debt service coverage.

Source: San Francisco Public Utilities Commission Annual Disclosure Reports.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Operating and investment revenue $ 375,551 721,189 390,789 431,836 423,111 464,662 532,087 558,041 593,868 581,141 Less operating and maintenance expenses (304,562) (303,739) (333,555) (296,950) (314,786) (421,827) (370,147) (357,094) (398,117) (448,690) Adjustment to investing activities1 (784) 258 (2,438) 732 635 111 (1,245) (4,821) (516) 3,846 Depreciation and non-cash expenses 72,264 78,323 95,355 98,192 107,268 121,375 119,624 122,248 148,294 150,257 Changes in working capital 16,714 52,193 46,088 (37,175) (11,062) 63,520 31,060 (11,073) (20,763) 24,707 Appropriated fund balance — — — — 23,994 10,747 1,452 4,318 17,181 27,785 Net revenue 4 159,183 548,224 196,239 196,635 229,160 238,588 312,831 311,619 339,947 339,046 Other available funds2 27,473 26,744 287,522 248,390 162,733 155,852 186,752 221,362 241,931 128,692 Funds available for revenue debt service $ 186,656 574,968 483,761 445,025 391,893 394,440 499,583 532,981 581,878 467,738 Revenue debt service 3 $ 122,289 248,530 141,325 192,312 219,195 207,812 233,959 261,638 269,210 248,427 Revenue debt service coverage 1.53 2.31 3.42 2.31 1.79 1.90 2.14 2.04 2.16 1.88 Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
Revenue Capacity
Water - Net Revenue and Debt Service Coverage
#

1.53 2.31

3.42 2.31

1.79 1.90

2.14 2.04

2.16 1.88

1.0 1.5

2.0 2.5

3.0 3.5

4.0 4.5

5.0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Coverage Ratio
Water Revenue Debt Service Coverage
Fiscal Year
Statistical Section

210 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 Adjustment of investing activities and non-operating revenues to a cash basis. 2 As per the Indenture, in addition to current year cash flow, the coverage calculation permits the inclusion of all funds exce pt for Trust and Agency Fund not budgeted to be spent in such 12 months and legally available to pay debt service. 3 State revolving fund loan for Sewer System Improvement projects (starting fiscal year 2019) have the same seniority as revenue bonds. ^ In January 2013, 2013 Series A refunded the remaining portion of the outstanding state revolving fund loans. * Effective fiscal year 2013, revenue debt service is calculated net of capitalized interest. ** In fiscal year 2018 Wastewater financial statements, fiscal year 2017 revenue debt service is presented gross of capitalized interest, $60,407. # Starting fiscal year 2021, Treasure Island revenue and expenses are excluded from debt service coverage.

Source: San Francisco Public Utilities Commission Annual Disclosure Reports.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Operating and investment revenue $ 247,130 253,078 262,497 257,209 262,960 279,668 317,413 351,782 356,265 325,008 Less operating and maintenance expenses (195,857) (208,260) (216,340) (216,485) (221,553) (244,220) (238,906) (259,813) (262,259) (290,737) Adjustment to investing activities1 (299) 337 (601) 127 (12) 251 (489) (8,047) 2,950 4,356 Depreciation and non-cash expenses 46,271 52,108 50,717 51,773 56,285 57,998 60,072 68,568 68,603 78,368 Changes in working capital 21,375 (13,795) 12,908 3,923 2,404 26,292 18,336 (2,125) 523 (8,596) State revolving fund loan payments 3 (10,983) (9,421) — — — — — — — — Net revenue 107,637 74,047 109,181 96,547 100,084 119,989 156,426 150,365 166,082 108,399 Other available funds2 50,761 80,094 109,807 134,413 139,847 131,554 153,596 103,281 215,722 197,778 Funds available for revenue debt service $ 158,398 154,141 218,988 230,960 239,931 251,543 310,022 253,646 381,804 306,177 Revenue debt service* $ 42,190 37,921 48,932 48,878 60,022 48,769 47,003 60,347 62,797 82,066 Revenue debt service coverage 3.75 4.06 4.48 4.73 4.00 5.16 6.60 4.20 6.08 3.73 Revenue Capacity
Wastewater - Net Revenue and Debt Service Coverage
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
^
**
#

3.75 4.06 4.48

4.73 4.00

5.16 6.60

4.20 6.08

3.73 0.0

1.0 2.0

3.0 4.0

5.0 6.0

7.0 8.0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Coverage Ratio
Wastewater Revenue Debt Service Coverage
Fiscal Year
Statistical Section

211 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

Not Applicable (N/A) debt service for CREBs, QECBs and NCREBs, is subordinate in lien pursuant to Power’s Master Trust Indenture dated May 1, 2015. * Adjustment of investing activities and non-operating revenues to a cash basis. ** Series 2015 AB power revenue bonds senior lien debt service is capitalized through fiscal year 2018. So there is no basis for calculating debt service coverage from fiscal years 2015 to 2017.
⌂ Starting fiscal year 2019, other available funds is calculated based on percentage of unrestricted net position due to implementation of new financial system, PeopleSoft. Fiscal year 2018 and prior, fund equity was determ ined by financial activities in the general ledger fund equity account , however it is no longer available in PeopleSoft.
# Starting fiscal year 2021, Treasure Island revenue and expenses are excluded from debt service coverage.

Source: San Francisco Public Utilities Commission Annual Disclosure Reports.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Operating and investment revenue $ 117,704 122,954 122,187 122,251 152,873 151,835 142,696 Less operating and maintenance expenses (105,222) (110,012) (116,935) (119,395) (122,688) (148,127) (139,566) Adjustment to investing activities* (8) 11 29 419 (2,606) 101 1,902 Depreciation and non-cash expenses 17,654 15,331 14,208 14,131 14,604 27,470 23,037 Changes in working capital 7,037 (9,214) 11,740 13,281 (2,386) 3,243 (18,641) Low Carbon Fuel Standard revenue — — — — — 6,920 1,181 Net revenue 37,165 19,070 31,229 30,687 39,798 41,442 10,609 Other available funds⌂ 14,031 13,974 32,199 36,525 31,215 39,119 23,569 Funds available for revenue debt service $ 51,196 33,044 63,428 67,212 71,013 80,561 34,178 Revenue debt service** $ N/A N/A N/A 2,570 2,569 2,568 2,567 Revenue debt service coverage N/A N/A N/A 26.15 27.64 31.37 13.31 Revenue Capacity
Hetchy Power - Net Revenue and Debt Service Coverage
Fiscal Years Ended 2015 to 2021
(Dollars in Thousands)
No senior lien debt service coverage
prior to fiscal year 2015
#
—

26.15 27.64

31.37 13.31

0.0 5.0

10.0 15.0

20.0 25.0

30.0 35.0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Coverage Ratio
Hetchy Power Revenue Debt Service Coverage
Fiscal Year
No senior lien debt service
coverage prior to fiscal year
2015

Photo by: Robin Scheswohl

Walk-through of Griffith Outfall and Influent
Sewer for Crack and Spall Repairs.

Debt Capacity

Debt Ratings

Summary of Debt Outstanding

History of Outstanding Debt by Type

Department-wide – Future Principal and Interest Payments for Debt Issues

Water – Future Principal and Interest Payments for Debt Issues

Wastewater – Future Principal and Interest Payments for Debt Issues

Hetchy Power – Future Principal and Interest Payments for Debt Issues

Photo by: Sabrina Wong

Rooftop Solar Project at Visitacion Valley Middle School.

Statistical Section

212 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Bonds issued by CCSF and reflects General Fund COP credit rating at issuance. ** Hetchy Power revenue bonds are rated AA- by Fitch.
*** Power letter of credit is rated F1+ by Fitch.
⌂ Power letter of credit is rated F1 by Fitch.

CleanPowerSF did not have any debt outstanding as of June 30, 2021 but had a credit rating of A2 from Moody's investor servi ce.

Source: Rating agency reports.

Debt by Type
Moody's
Investors
Service
Standard
& Poor's
Water
Revenue bonds Aa2 AA-
Commercial paper - $500 million tax-exempt/taxable
$200 million Sumitomo Mitsui Letter of Credit P-1 A-1
$100 million Barclays PLC Letter of Credit P-1 A-1
$100 million Sumitomo Mitsui Letter of Credit P-1 A-1
$100 million US Bank Revolving Credit Agreement N/A N/A Certificates of participation - SFPUC Headquarters Project* Aa1 AA+ Wastewater
Revenue bonds Aa2 AA
Commercial paper - $750 million tax-exempt
$200 million State Street Liquidity Facility P-1 A-1+
$150 million Bank of America Letter of Credit P-1 A-1
$150 million Sumitomo Mitsui Letter of Credit P-1 A-1
$100 million Sumitomo Mitsui Letter of Credit P-1 A-1
$75 million Toronto Dominion Bank Liquidity Facility P-1 A-1+ $75 million US Bank Revolving Credit Agreement N/A N/A
Certificates of participation - SFPUC Headquarters Project* Aa1 AA+ Hetchy Power
Revenue bonds** N/A AA
Commercial paper - $250 million tax-exempt
$125 million Bank of America Letter of Credit*** N/A A-1 $125 million Sumitomo Mitsui Letter of Credit⌂ N/A A-1
Certificates of participation - SFPUC Headquarters Project* Aa1 AA+ Ratings by
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Moody's Investors Service
Water Aa3 Aa3 Aa3 Aa3 Aa3 Aa3 Aa3 Aa3 Aa2 Aa2
Wastewater Aa3 Aa3 Aa3 Aa3 Aa3 Aa3 Aa3 Aa3 Aa2 Aa2
CleanPowerSF A2
Standard & Poor's
Water AA- AA- AA- AA- AA- AA- AA- AA- AA- AA-
Wastewater AA- AA- AA- AA- AA AA AA AA AA AA
Hetchy Power A+ A+ A+ A+ AA AA AA
Fitch Ratings
Hetchy Power AA- AA- AA- AA- AA- AA- AA-
Water, Wastewater, Hetchy Power, and CleanPowerSF
Credit Ratings
Fiscal Years Ended 2012 to 2021
Zero debt prior to fiscal year
2015
Zero debt prior to fiscal year
2015
First rating from Moody's assigned on December 9, 2020.

Statistical Section

213 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

Amount shown above are inclusive of unamortized bond premium ad discount.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Revenue Bonds and Certificates of Participation
Revenue bonds Amount Use of proceeds
2010 Series B (Build America Bonds) $ 361,500 Water System Improvement Program 2010 Series E (Build America Bonds) 345,317 Water System Improvement Program 2010 Series G (Build America Bonds) 354,477 Water System Improvement Program 2011 Series B 762 Hetchy Water Improvements 2011 Series C 832 Local Water Main Replacement Project 2015 Series A 436,227 Refunded remainder of 2006A Bonds and partial refunding of 2009A Bonds 2016 Series A 845,166 Refunded portion of 2009A, 2009B and 2010F Bonds 2016 Series B 87,409 Refunded remainder of 2006B and 2006C Bonds and portion of 2010A 2016 Series C 236,917 Refund all of outstanding taxable commercial paper notes. 2017 Series A 30,573 Water System Improvement Program 2017 Series B 37,302 Non Water System Improvement Program (Non-WSIP) 2017 Series C 17,841 Hetchy Water Improvements 2017 Series D 407,578 Refund 2011A and 2012A Bonds 2017 Series E 56,545 Refund 2011C, 2011D and 2012C1 Bonds 2017 Series F 10,012 Refund 2011B Bonds
2017 Series G 32,780 Refund 2011A Bonds
2019 Series A 615,725 Refunding Federal Taxable WSIP 2019 Series B 16,450 Refunding Federal Taxable Hetch Hetchy 2019 Series B 17,925 Refunding Federal Taxable Local Water Main 2020 Series A 191,617 Water System Improvement Program (Green Bonds) 2020 Series B 74,599 Regional Water
2020 Series C 100,543 Local Water
2020 Series D 52,283 Hetch Hetchy Water
2020 Series E 341,435 Refunding Federal Taxable WSIP 2020 Series F 136,880 Refunding Federal Taxable Non-WSIP 2020 Series G 120,585 Refunding Federal Taxable Local Water 2020 Series H 65,495 Refunding Federal Taxable Hetch Hetchy Water Total revenue bonds 4,994,775
State of California revolving fund loans 107,407
Certificates of participation (COPs)
2009 Series C 6,163 525 Golden Gate Avenue Headquarters Building 2009 Series D (Build America Bonds) 92,499 525 Golden Gate Avenue Headquarters Building Total certificates of participation (COPs) 98,662
Total Water debt outstanding $ 5,200,844
Debt Capacity
Water - Summary of Debt Outstanding (Exclude Commercial Paper) As of June 30, 2021
(Dollars in Thousands)

20.40 -

8.40 22.50

11.40 0.10

1.80 2.10

12.50 100.00
Series 2020C
Series 2020D
Series 2020E
Series 2020F
Series 2020G
Series 2020H
2010,
$1,061,294 20.4%
2011, $1,594

0.0%
2015,
$436,227 8.4%
2016, $1,169,492

22.5%
2017,
$592,631 11.4%
2009C-COP,
$6,163 0.1%
2009D-COP,
$92,499 1.8%
SRF Loans,
$107,407 2.1%
2019, $650,100

12.5%
2020,
$1,083,437

20.8%
Water Debt Composition
Statistical Section

214 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

Amount shown above are inclusive of unamortized bon d premium and discount.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Revenue Bonds, Loans and Certificates of Participation
Revenue bonds Amount Use of proceeds
2010 Series A $ 8,862 Clean Water Capital Improvement Programs 2010 Series B (Build America Bonds) 192,515 Clean Water Capital Improvement Programs 2013 Series A 30,305 Refunded the remaining portion of the 2003 Series A bonds 2013 Series B 355,895 Sewer System Improvement Program 2016 Series A 272,890 Sewer System Improvement Program 2016 Series B 76,930 Sewer System Improvement Program 2018 Series A 258,037 Sewer System Improvement Program 2018 Series B 215,343 Sewer System Improvement Program 2018 Series C 179,145 Sewer System Improvement Program Total revenue bonds 1,589,922
State of California revolving fund loans 108,559 Sewer System Improvement Program Certificates of participation (COPs)
2009 Series C 1,629 525 Golden Gate Avenue Headquarters Building 2009 Series D (Build America Bonds) 24,458 525 Golden Gate Avenue Headquarters Building Total certificates of participation (COPs) 26,087
Total Wastewater debt outstanding $ 1,724,568
Debt Capacity
Wastewater - Summary of Debt Outstanding (Exclude Commercial Paper) As of June 30, 2021
(Dollars in Thousands)
2010A,
$8,862 0.5%
2010B,
$192,515

11.2% 2013A,
$30,305 1.8%
2013B,
$355,895

20.6%
2016A,
$272,890

15.8%
2016B,
$76,930 4.5%
2018A, $258,037

15.0%
2018B, $215,343

12.5%
2018C, $179,145

10.4%
SRF Loans,
$108,559 6.3%
2009C-COP,
$1,629 0.1%
2009D-COP,
$24,458 1.4%
Wastewater Debt Composition
Statistical Section

215 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

Amount shown above are inclusive of unamortized bond premium and discount.

Source: City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Sta tements.

Bonds and Certificates of Participation
Revenue Bonds Amount Use of proceeds
2015 Series A (Green) $ 35,297 Hetch Hetchy facilities 2015 Series B 4,726 Hetch Hetchy facilities
Total revenue bonds 40,023
Other Bonds
Clean Renewable Energy Bonds (CREBs) 823 Solar energy equipment on city facilities Qualified Energy Conservation Bonds (QECBs) 3,687 525 Golden Gate Avenue green energy 2012 New Clean Renewable Energy Bonds (NCREBs) — City facilities renewable energy 2015 New Clean Renewable Energy Bonds (NCREBs) 1,779 City facilities renewable energy Total other bonds 6,289
Certificates of participation (COPs)
2009 Series C 838 525 Golden Gate Avenue Headquarters Building 2009 Series D (Build America Bonds) 12,593 525 Golden Gate Avenue Headquarters Building Total certificates of participation (COPs) 13,431
Total Hetchy Power debt outstanding $ 59,743
Debt Capacity
Hetchy Power - Summary of Debt Outstanding (Exclude Commercial Paper) As of June 30, 2021
(Dollars in Thousands)
2015 Series A,
$35,297 59.1%
2015 Series B,
$4,726 7.9%
CREBs,
$823 1.4%
QECBs, $3,687

6.2%
2015 NCREB,
$1,779 3.0%
2009C-COP,
$838 1.4%
2009D-COP,
$12,593 21.0%
Hetchy Power Debt Composition
Statistical Section

216 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* No annual payments for Series 1991A Capital Appreciation Bonds. ** 2021 and 2020 population was estimated by multiplying 2020 population by the 2019 and 2020 population growth rate. Fiscal year 2020 and 2019 has been updated from last year's ACFR with newly available data. ^ Bonds and Certificates of Participation are inclusive of bond premiums and discounts.

Source: San Francisco Public Utilities Commission Water Sewer System and Power Enterprise Billing System, Customer To Meter Billing S ystem, Customer Care and Billing System, Audited Financial Statements, Office of the Controller, City and County of San Francisco and BAWSCA.org.

Department-wide
Capital State
Fiscal Revenue Appreciation Revolving Certificates
Year Ended Bonds^ Bonds* Fund Loans of Participation^ Total 2012 $ 4,990,472 $ 4,450 $ 36,898 $ 170,483 $ 5,202,303 2013 5,194,820 4,767 — 167,219 5,366,806 2014 5,123,609 5,107 — 163,934 5,292,650 2015 5,106,187 5,471 — 160,615 5,272,273 2016 5,389,447 5,860 — 157,207 5,552,514 2017 5,657,792 6,278 — 153,673 5,817,743 2018 5,983,428 6,725 22,607 150,008 6,162,768 2019 6,513,703 2,029 88,032 146,207 6,749,971 2020 6,366,836 — 161,820 142,265 6,670,921 2021 6,631,009 — 215,966 138,180 6,985,155 Water
State Capital Service Area Number of Debt per
Fiscal Revenue Revolving Appreciation Certificates by Debt per Capita Customer Customer Account Year Ended Bonds^ Fund Loans Bonds* of Participation^ Total Population (in thousands) Accounts (in thousands) 2012 $ 4,505,296 $ — $ 4,450 $ 121,726 $ 4,631,472 2,535,093 $ 1.83 173,453 $ 26.70 2013 4,351,610 — 4,767 119,395 4,475,772 2,550,368 1.75 173,744 25.76 2014 4,322,713 — 5,107 117,049 4,444,869 2,595,166 1.71 173,970 25.55 2015 4,298,827 — 5,471 114,680 4,418,978 2,635,893 1.68 174,111 25.38 2016 4,257,454 — 5,860 112,246 4,375,560 2,657,633 1.65 174,083 25.13 2017 4,554,967 — 6,278 109,722 4,670,967 2,680,705 1.74 174,349 26.79 2018 4,909,041 — 6,725 107,106 5,022,872 2,705,107 1.86 175,054 28.69 2019 4,808,548 — 2,029 104,392 4,914,969 2,710,848 1.81 175,803 27.96 2020 4,695,295 73,271 — 101,578 4,870,144 2,719,517 1.79 176,379 27.61 2021 4,994,775 107,407 — 98,662 5,200,844 2,728,744 1.91 176,246 29.51 Wastewater
State Service Area Number of Debt per
Fiscal Revenue Revolving Certificates by Debt per Capita Customer Customer Account Year Ended Bonds^ Fund Loans of Participation^ Total Population (in thousands) Accounts (in thousands) 2012 $ 465,792 $ 36,898 $ 32,186 $ 534,876 825,863 $ 0.65 163,316 $ 3.28 2013 824,821 — 31,570 856,391 841,138 1.02 163,445 5.24 2014 783,801 — 30,950 814,751 852,469 0.96 163,537 4.98 2015 747,185 — 30,323 777,508 862,004 0.90 163,686 4.75 2016 1,071,883 — 29,680 1,101,563 876,103 1.26 163,587 6.73 2017 1,044,925 — 29,013 1,073,938 879,166 1.22 163,738 6.56 2018 1,019,146 22,607 28,321 1,070,074 880,696 1.22 163,976 6.53 2019 1,652,609 88,032 27,603 1,768,244 881,549 2.01 173,956 10.16 2020 1,621,733 88,549 26,859 1,737,141 866,606 2.00 174,516 9.95 2021 1,589,922 108,559 26,087 1,724,568 851,916 2.02 174,356 9.89 Hetchy Power
Number of Debt per
Fiscal Certificates Customer Customer Account
Years Ended Bonds^ of Participation^ Total Accounts (in thousands) 2012 $ 19,384 $ 16,571 $ 35,955 2,260 $ 15.91 2013 18,389 16,254 34,643 2,257 15.35 2014 17,095 15,935 33,030 2,271 14.54 2015 60,175 15,612 75,787 2,305 32.88 2016 60,110 15,281 75,391 2,627 28.70 2017 57,900 14,938 72,838 3,068 23.74 2018 55,241 14,581 69,822 3,547 19.68 2019 52,546 14,212 66,758 3,747 17.82 2020 49,808 13,828 63,636 4,077 15.61 2021 46,312 13,431 59,743 5,385 11.09 Debt Capacity
History of Outstanding Debt by Type - Principal Only (Exclude Commercial Paper) Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
**
***
**
**
**
**
Statistical Section

217 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

May not total due to rounding.
* Principal and interest (net of federal interest subsidy) includes bonds, COPs, and state revolving fund loans and excludes premium and discounts.

Source: San Francisco Public Utilities Commission Official Statements.

Total Total Total Total
Payments Principal & Principal & Principal & Principal & Due for Total Total Interest Total Total Interest Total Total Interest Total Total Interest FY Ended Principal Interest Payments Principal Interest Payments Principal Interest Payments Principal Interest Payments 2022 $ 113,137 190,905 304,042 26,148 62,708 88,856 2,333 2,402 4,735 141,618 256,015 397,633 2023 131,631 186,910 318,541 38,214 61,656 99,870 2,397 2,338 4,735 172,242 250,904 423,146 2024 141,616 181,594 323,210 40,864 61,633 102,497 2,035 2,278 4,313 184,515 245,505 430,020 2025 147,174 175,973 323,147 40,983 61,521 102,504 2,092 2,216 4,308 190,249 239,710 429,959 2026 158,795 169,808 328,603 42,814 59,727 102,541 2,156 2,149 4,305 203,765 231,684 435,449 2027 164,683 163,024 327,707 44,749 57,831 102,580 2,219 2,080 4,299 211,651 222,935 434,586 2028 170,363 155,855 326,218 46,786 55,792 102,578 1,994 2,001 3,995 219,143 213,648 432,791 2029 177,918 148,301 326,219 48,926 53,650 102,576 1,779 1,922 3,701 228,623 203,873 432,496 2030 186,684 140,320 327,004 51,174 51,396 102,570 1,855 1,842 3,697 239,713 193,559 433,272 2031 193,474 132,455 325,929 53,538 49,029 102,567 1,942 1,755 3,697 248,954 183,240 432,194 2032 202,539 124,807 327,346 56,023 46,540 102,563 2,024 1,667 3,691 260,586 173,014 433,600 2033 205,476 116,503 321,979 58,630 43,922 102,552 2,034 1,572 3,606 266,140 161,997 428,137 2034 215,616 107,468 323,084 61,296 41,260 102,556 2,043 1,477 3,520 278,955 150,205 429,160 2035 223,636 98,010 321,646 64,000 38,550 102,550 2,137 1,376 3,513 289,773 137,936 427,709 2036 239,349 88,493 327,842 66,832 35,717 102,549 2,241 1,271 3,512 308,422 125,481 433,903 2037 251,914 78,846 330,760 69,799 32,746 102,545 2,348 1,162 3,510 324,061 112,754 436,815 2038 231,805 69,665 301,470 72,823 29,712 102,535 2,461 1,047 3,508 307,089 100,424 407,513 2039 240,422 61,160 301,582 75,912 26,611 102,523 2,575 926 3,501 318,909 88,698 407,607 2040 248,891 52,460 301,351 79,069 23,447 102,516 2,700 800 3,500 330,660 76,707 407,367 2041 206,558 44,427 250,985 82,296 20,214 102,510 2,826 667 3,493 291,680 65,308 356,988 2042 161,135 38,150 199,285 85,663 16,843 102,506 2,961 530 3,491 249,759 55,523 305,282 2043 113,216 33,445 146,661 87,292 13,363 100,655 2,125 405 2,530 202,633 47,213 249,846 2044 117,341 29,308 146,649 52,276 10,572 62,848 2,230 296 2,526 171,847 40,175 212,022 2045 80,735 25,603 106,338 54,351 8,504 62,855 2,340 181 2,521 137,426 34,287 171,713 2046 84,486 22,321 106,807 56,467 6,405 62,872 2,460 62 2,522 143,413 28,788 172,201 2047 88,401 18,894 107,295 58,659 4,216 62,875 — — — 147,060 23,110 170,170 2048 92,512 15,290 107,802 39,958 2,362 42,320 — — — 132,470 17,652 150,122 2049 98,883 11,307 110,190 39,458 853 40,311 — — — 138,341 12,160 150,501 2050 103,810 6,940 110,750 2,758 73 2,831 — — — 106,568 7,013 113,581 2051 106,950 2,354 109,304 1,090 28 1,118 — — — 108,040 2,382 110,422 2052 — — — 840 12 852 — — — 840 12 852 Total $ 4,899,150 2,690,593 7,589,743 1,599,688 976,894 2,576,582 56,307 34,424 90,731 6,555,145 3,701,911 10,257,056 Debt Capacity
Department-wide - Future Principal and Interest Payments for Debt Issues* (Exclude Commercial Paper)
(Dollars in Thousands)
Water Wastewater Power SFPUC Total
Statistical Section

218 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments State COPs COPs
Due for Revolving Series Series
FY Ended Fund Loans 2009C 2009D 2010B 2010E 2010G 2011B 2011C 2022 $ 1,667 2,970 — 12,330 — — 755 825
2023 3,222 3,124 — 12,780 12,745 — — —
2024 3,254 — 3,267 13,245 13,165 — — —
2025 3,287 — 3,402 13,725 13,610 — — —
2026 3,320 — 3,545 14,225 14,080 — — —
2027 3,353 — 3,695 14,765 14,585 — — —
2028 3,386 — 3,852 15,355 15,125 — — —
2029 3,420 — 4,013 15,965 15,715 — — —
2030 3,454 — 4,180 16,600 16,340 — — —
2031 3,490 — 4,359 17,260 16,990 — — —
2032 3,524 — 4,545 17,945 17,665 11,060 — — 2033 3,559 — 4,737 18,660 18,365 11,575 — — 2034 3,595 — 4,941 19,405 19,095 12,110 — — 2035 3,631 — 5,155 20,175 19,855 12,665 — — 2036 3,666 — 5,373 20,980 20,645 13,255 — — 2037 3,704 — 5,605 21,810 21,470 13,865 — — 2038 3,741 — 5,844 22,680 22,320 14,505 — — 2039 3,778 — 6,094 23,580 23,210 15,175 — — 2040 3,816 — 6,355 24,520 24,130 15,880 — — 2041 3,853 — 6,625 25,495 25,090 16,610 — — 2042 3,893 — 6,912 — — 17,380 — —
2043 3,931 — — — — 18,180 — —
2044 3,971 — — — — 19,025 — —
2045 4,010 — — — — 19,900 — —
2046 4,051 — — — — 20,820 — —
2047 4,091 — — — — 21,785 — —
2048 4,132 — — — — 22,790 — —
2049 4,173 — — — — 23,845 — —
2050 4,215 — — — — 24,945 — —
2051 2,220 — — — — 26,100 — —
Total $ 107,407 6,094 92,499 361,500 344,200 351,470 755 825 Principal Payments
Debt Capacity
Water - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Statistical Section

219 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments
Due for
FY Ended 2015A 2016A 2016B 2016C 2017A 2017B 2017C 2017D 2022 $ 15,325 23,315 10,015 5,820 — — — 925 2023 16,045 32,790 12,530 5,955 2,325 2,835 1,355 1,455 2024 28,070 23,590 13,175 6,105 2,445 2,985 1,425 1,270 2025 29,485 24,800 13,720 6,275 2,570 3,135 1,500 10,230 2026 30,990 26,050 7,715 6,455 2,705 3,295 1,575 20,515 2027 20,945 38,150 8,015 6,645 2,840 3,465 1,660 21,540 2028 20,530 46,305 3,815 6,850 2,990 3,645 1,745 22,615 2029 21,580 48,655 3,990 7,075 3,140 3,830 1,830 23,740 2030 22,685 51,135 4,180 7,310 3,300 4,025 1,925 24,935 2031 23,810 53,460 4,370 7,565 — — — 26,140 2032 25,000 34,135 — 7,835 — — — 14,980
2033 26,280 35,875 — 8,120 — — — 46,855
2034 27,490 37,710 — 8,435 — — — 59,875
2035 28,610 39,670 — 8,760 — — — 61,540
2036 29,765 41,745 — 9,110 — — — 11,105
2037 31,135 43,670 — 9,475 4,685 5,715 2,735 — 2038 — 45,455 — 9,860 — — — —
2039 — 47,305 — 10,265 — — — —
2040 — 49,235 — 10,685 — — — —
2041 — — — 11,125 — — — —
2042 — — — 11,585 — — — —
2043 — — — 12,070 — — — —
2044 — — — 12,590 — — — —
2045 — — — 13,125 — — — —
2046 — — — 13,685 — — — —
2047 — — — 14,270 — — — —
2048 — — — — — — — —
2049 — — — — — — — —
2050 — — — — — — — —
2051 — — — — — — — —
Total $ 397,745 743,050 81,525 237,050 27,000 32,930 15,750 347,720 Principal Payments
Debt Capacity
Water - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Statistical Section

220 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments
Due for
FY Ended 2017E 2017F 2017G 2019A 2019B 2019C 2020A
2022 $ — — 820 24,405 65 75 —
2023 765 700 13,070 3,495 70 75 —
2024 795 735 13,665 3,565 70 80 —
2025 835 770 5,225 3,640 75 80 —
2026 7,425 875 — 3,720 75 80 —
2027 7,830 920 — 3,805 80 85 —
2028 6,630 965 — 3,900 80 90 —
2029 7,080 1,020 — 4,000 85 90 —
2030 8,555 855 — 4,105 85 95 —
2031 7,960 905 — 4,215 90 95 —
2032 1,015 960 — 31,095 90 100 —
2033 — — — 4,055 1,340 1,465 —
2034 — — — 4,180 1,385 1,510 —
2035 — — — 4,310 1,425 1,550 —
2036 — — — 63,930 1,470 1,600 —
2037 — — — 80,670 1,525 1,660 —
2038 — — — 86,145 1,575 1,720 —
2039 — — — 38,500 1,630 1,775 —
2040 — — — 39,650 1,690 1,835 —
2041 — — — 40,970 1,745 1,900 —
2042 — — — 42,370 1,800 1,965 —
2043 — — — 59,450 — — —
2044 — — — 61,550 — — —
2045 — — — — — — 10,730
2046 — — — — — — 11,445
2047 — — — — — — 12,195
2048 — — — — — — 19,525
2049 — — — — — — 30,970
2050 — — — — — — 32,160
2051 — — — — — 33,870
Total $ 48,890 8,705 32,780 615,725 16,450 17,925 150,895 Principal Payments
Debt Capacity
Water - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Statistical Section

221 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments Total
Due for Principal
FY Ended 2020B 2020C 2020D 2020E 2020F 2020G 2020H Payments 2022 $ — — — 5,900 1,425 5,820 680 113,137 2023 — — — 500 — 5,795 — 131,631
2024 — — — 1,530 1,430 7,065 685 141,616
2025 — — — 1,575 1,440 7,105 690 147,174
2026 — — — 1,620 1,450 8,385 695 158,795
2027 — — — 1,665 1,465 8,475 700 164,683
2028 — — — 1,715 1,485 8,575 710 170,363
2029 — — — 1,765 1,505 8,700 720 177,918
2030 — — — 1,815 1,530 8,840 735 186,684
2031 — — — 5,300 5,720 9,005 2,740 193,474 2032 — — — 5,450 5,830 18,520 2,790 202,539 2033 — — — 5,605 5,955 10,180 2,850 205,476 2034 — — — 5,770 6,090 1,110 2,915 215,616 2035 — — — 5,930 6,235 1,140 2,985 223,636 2036 — — — 6,100 6,385 1,165 3,055 239,349 2037 — — — 1,645 910 1,200 435 251,914
2038 — — — 6,560 6,875 1,235 3,290 231,805 2039 — — — 57,375 7,075 1,275 3,385 240,422 2040 — — — 59,020 7,280 1,315 3,480 248,891 2041 — — — 60,715 7,490 1,355 3,585 206,558 2042 — — — 62,450 7,700 1,395 3,685 161,135 2043 — — — 6,405 7,940 1,440 3,800 113,216 2044 — — — 6,600 8,195 1,490 3,920 117,341 2045 4,300 5,950 3,425 6,795 8,455 — 4,045 80,735 2046 4,590 6,340 3,660 7,000 8,725 — 4,170 84,486 2047 4,895 6,760 3,895 7,205 9,000 — 4,305 88,401 2048 7,840 10,825 6,240 7,425 9,290 — 4,445 92,512 2049 12,520 17,360 10,015 — — — — 98,883
2050 13,240 18,550 10,700 — — — — 103,810 2051 13,945 19,550 11,265 — — — 106,950
Total $ 61,330 85,335 49,200 341,435 136,880 120,585 65,495 4,899,150 Principal Payments
Debt Capacity
Water - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Statistical Section

222 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

COPs
Payments State COPs 2009D 2010B 2010E 2010G
Due for Revolving Series Before Before Before Before
FY Ended Fund Loans 2009C Subsidy Subsidy Subsidy Subsidy 2011B 2011C 2022 $ 574 230 5,968 21,020 20,062 24,427 15 16 2023 1,057 78 5,968 20,329 19,748 24,427 — — 2024 1,025 — 5,864 19,613 19,104 24,427 — — 2025 993 — 5,652 18,871 18,417 24,427 — — 2026 960 — 5,431 18,102 17,691 24,427 — — 2027 927 — 5,201 17,269 16,917 24,427 — — 2028 893 — 4,960 16,365 16,084 24,427 — — 2029 859 — 4,710 15,426 15,182 24,427 — — 2030 825 — 4,450 14,448 14,219 24,428 — — 2031 790 — 4,176 13,433 13,219 24,428 — — 2032 756 — 3,887 12,376 12,180 24,043 — — 2033 720 — 3,585 11,278 11,099 23,256 — — 2034 685 — 3,272 10,136 9,976 22,433 — —
2035 649 — 2,944 8,950 8,809 21,572 — —
2036 612 — 2,603 7,714 7,593 20,672 — —
2037 576 — 2,247 6,430 6,329 19,729 — —
2038 539 — 1,875 5,096 5,015 18,743 — —
2039 501 — 1,488 3,708 3,650 17,712 — —
2040 464 — 1,084 2,265 2,229 16,633 — —
2041 425 — 663 765 753 15,504 — —
2042 387 — 224 — — 14,323 — —
2043 348 — — — — 13,087 — —
2044 309 — — — — 11,794 — —
2045 269 — — — — 10,441 — —
2046 228 — — — — 9,026 — —
2047 188 — — — — 7,546 — —
2048 147 — — — — 5,997 — —
2049 106 — — — — 4,376 — —
2050 65 — — — — 2,681 — —
2051 23 — — — — 907 — —
Total $ 16,900 308 76,252 243,594 238,276 524,747 15 16 (Continued)
Debt Capacity
Water - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Interest Payments
Statistical Section

223 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments
Due for
FY Ended 2015A 2016A 2016B 2016C 2017A 2017B 2017C 2017D 2022 $ 18,430 34,178 3,274 8,748 1,350 1,647 788 17,254 2023 17,708 32,776 2,723 8,614 1,292 1,576 754 17,199 2024 16,643 31,366 2,099 8,463 1,173 1,430 684 17,131 2025 15,223 30,157 1,569 8,298 1,047 1,277 611 16,843 2026 13,721 28,885 1,209 8,118 915 1,116 534 16,074 2027 12,421 27,280 894 7,925 777 947 453 15,023 2028 11,385 25,169 639 7,719 631 770 368 13,919 2029 10,332 22,795 464 7,498 478 583 279 12,760 2030 9,225 20,300 279 7,260 317 386 185 11,543 2031 8,097 17,952 87 7,007 234 285 136 10,307 2032 6,915 16,030 — 6,738 234 286 137 9,331 2033 5,632 14,280 — 6,448 234 286 137 7,797 2034 4,425 12,440 — 6,138 234 286 137 5,129 2035 3,303 10,506 — 5,809 234 286 137 2,094 2036 2,145 8,470 — 5,463 234 286 137 278
2037 778 6,554 — 5,098 118 142 67 —
2038 — 4,771 — 4,712 — — — —
2039 — 2,916 — 4,306 — — — —
2040 — 985 — 3,883 — — — —
2041 — — — 3,443 — — — —
2042 — — — 2,985 — — — —
2043 — — — 2,499 — — — —
2044 — — — 1,983 — — — —
2045 — — — 1,445 — — — —
2046 — — — 884 — — — —
2047 — — — 299 — — — —
2048 — — — — — — — —
2049 — — — — — — — —
2050 — — — — — — — —
2051 — — — — — — — —
Total $ 156,383 347,810 13,237 141,781 9,502 11,589 5,544 172,682 Debt Capacity
Water - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Interest Payments
Statistical Section

224 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments
Due for
FY Ended 2017E 2017F 2017G 2019A 2019B 2019C 2020A 2020B 2022 $ 2,395 435 888 19,589 560 610 7,295 3,066 2023 2,376 418 706 19,328 558 608 7,294 3,066 2024 2,337 382 344 19,258 556 605 7,295 3,066 2025 2,296 344 76 19,185 553 603 7,295 3,067 2026 2,090 303 — 19,105 551 600 7,295 3,067 2027 1,709 258 — 19,018 549 598 7,295 3,067 2028 1,347 211 — 18,924 546 595 7,295 3,067 2029 1,004 162 — 18,825 543 592 7,295 3,067 2030 613 115 — 18,722 541 589 7,295 3,067 2031 220 71 — 18,611 538 586 7,295 3,067
2032 20 24 — 18,119 535 583 7,294 3,066
2033 — — — 17,623 513 558 7,294 3,066
2034 — — — 17,499 470 511 7,295 3,066
2035 — — — 17,367 425 463 7,295 3,066
2036 — — — 16,244 377 411 7,295 3,066
2037 — — — 13,856 324 353 7,295 3,066
2038 — — — 11,101 270 294 7,295 3,067
2039 — — — 9,042 213 232 7,295 3,067
2040 — — — 7,752 155 168 7,295 3,067
2041 — — — 6,385 94 103 7,295 3,067
2042 — — — 4,938 32 35 7,295 3,067
2043 — — — 3,170 — — 7,295 3,067
2044 — — — 1,069 — — 7,294 3,067
2045 — — — — — — 7,026 2,959
2046 — — — — — — 6,471 2,737
2047 — — — — — — 5,893 2,500
2048 — — — — — — 5,131 2,181
2049 — — — — — — 3,917 1,672
2050 — — — — — — 2,400 1,028
2051 — — — — — — 814 349
Total $ 16,406 2,723 2,013 334,730 8,904 9,698 199,433 83,958 (Continued)
Debt Capacity
Water - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Interest Payments
Statistical Section

225 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Total Total
Payments Federal Interest Principal &
Due for Interest Payments Interest
FY Ended 2020C 2020D 2020E 2020F 2020G 2020H Subsidy Net of Subsidy Payments 2022 $ 3,413 1,476 9,612 3,599 1,855 1,722 (23,591) 190,905 304,042 2023 3,413 1,476 9,522 3,598 1,837 1,721 (23,260) 186,910 318,541 2024 3,413 1,476 9,493 3,594 1,809 1,720 (22,776) 181,594 323,210 2025 3,413 1,477 9,449 3,586 1,765 1,715 (22,235) 175,973 323,147 2026 3,413 1,476 9,404 3,575 1,704 1,710 (21,668) 169,808 328,603 2027 3,414 1,476 9,357 3,559 1,621 1,703 (21,061) 163,024 327,707 2028 3,414 1,476 9,310 3,541 1,515 1,694 (20,409) 155,855 326,218 2029 3,414 1,476 9,261 3,519 1,387 1,684 (19,720) 148,301 326,219 2030 3,414 1,476 9,210 3,494 1,241 1,672 (18,994) 140,320 327,004 2031 3,414 1,476 9,109 3,429 1,084 1,641 (18,237) 132,455 325,929 2032 3,413 1,476 8,958 3,320 820 1,589 (17,324) 124,807 327,346 2033 3,413 1,476 8,801 3,197 524 1,530 (16,245) 116,503 321,979 2034 3,413 1,476 8,641 3,062 400 1,465 (15,122) 107,468 323,084 2035 3,413 1,476 8,476 2,918 374 1,396 (13,953) 98,010 321,646 2036 3,413 1,476 8,306 2,764 346 1,322 (12,734) 88,493 327,842 2037 3,413 1,476 8,196 2,672 313 1,278 (11,464) 78,846 330,760 2038 3,413 1,476 8,080 2,561 275 1,225 (10,143) 69,665 301,470 2039 3,413 1,476 7,177 2,363 236 1,130 (8,765) 61,160 301,582 2040 3,413 1,476 5,533 2,159 196 1,033 (7,331) 52,460 301,351 2041 3,413 1,476 3,842 1,949 155 932 (5,837) 44,427 250,985 2042 3,413 1,476 2,102 1,733 112 829 (4,801) 38,150 199,285 2043 3,413 1,476 1,126 1,498 68 717 (4,319) 33,445 146,661 2044 3,413 1,476 934 1,244 23 595 (3,893) 29,308 146,649 2045 3,294 1,425 737 983 — 470 (3,446) 25,603 106,338 2046 3,049 1,318 534 712 — 341 (2,979) 22,321 106,807 2047 2,787 1,205 325 434 — 207 (2,490) 18,894 107,295 2048 2,435 1,053 109 146 — 70 (1,979) 15,290 107,802 2049 1,871 809 — — — — (1,444) 11,307 110,190 2050 1,153 498 — — — — (885) 6,940 110,750 2051 391 169 — — — — (299) 2,354 109,304 Total $ 93,484 40,426 175,604 69,209 19,660 33,111 (357,403) 2,690,593 7,589,743 Debt Capacity
Water - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Interest Payments
Statistical Section

226 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments State COPs COPs
Due for Revolving Series Series
FY Ended Fund Loans 2009C 2009D 2010A 2010B 2013A 2013B 2022 $ 2,483 785 — 8,820 — 14,060 —
2023 3,043 826 — — 7,280 13,090 — 2024 3,095 — 864 — 7,505 575 8,835 2025 3,148 — 900 — 7,745 610 9,280 2026 3,202 — 937 — 8,000 1,260 9,130 2027 3,257 — 977 — 8,270 — 10,915 2028 3,313 — 1,018 — 8,560 — 11,475 2029 3,370 — 1,061 — 8,860 — 12,065 2030 3,428 — 1,106 — 9,180 — 12,680 2031 3,486 — 1,152 — 9,520 — 13,330 2032 3,546 — 1,202 — 9,875 — 14,015 2033 3,607 — 1,253 — 10,250 — 14,735 2034 3,669 — 1,307 — 10,640 — 15,415 2035 3,733 — 1,362 — 11,045 — 16,045 2036 3,797 — 1,420 — 11,470 — 16,695 2037 3,862 — 1,482 — 11,910 — 17,375 2038 3,928 — 1,545 — 12,365 — 18,090 2039 3,995 — 1,612 — 12,845 — 18,820 2040 4,064 — 1,680 — 13,340 — 19,590 2041 4,134 — 1,752 — 13,855 — 20,390 2042 4,205 — 1,828 — — — 35,625
2043 4,277 — — — — — 37,080
2044 4,351 — — — — — —
2045 4,426 — — — — — —
2046 4,502 — — — — — —
2047 4,579 — — — — — —
2048 4,658 — — — — — —
2049 2,713 — — — — — —
2050 2,758 — — — — — —
2051 1,090 — — — — — —
2052 840 — — — — — —
Total $ 108,559 1,611 24,458 8,820 192,515 29,595 331,585 (Continued)
Principal Payments
Debt Capacity
Wastewater - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Statistical Section

227 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments Total
Due for Principal
FY Ended 2016A 2016B 2018A 2018B 2018C Payments
2022 $ — — — — — 26,148
2023 — — 7,715 6,260 — 38,214
2024 5,475 1,545 7,160 5,810 — 40,864
2025 5,760 1,625 6,580 5,335 — 40,983
2026 6,055 1,705 6,915 5,610 — 42,814
2027 6,365 1,795 7,270 5,900 — 44,749
2028 6,690 1,885 7,645 6,200 — 46,786
2029 7,035 1,980 8,035 6,520 — 48,926
2030 7,395 2,085 8,445 6,855 — 51,174
2031 7,775 2,190 8,880 7,205 — 53,538
2032 8,170 2,305 9,335 7,575 — 56,023
2033 8,590 2,420 9,815 7,960 — 58,630
2034 9,030 2,545 10,315 8,375 — 61,296
2035 9,495 2,675 10,845 8,800 — 64,000
2036 9,980 2,815 11,400 9,255 — 66,832
2037 10,495 2,960 11,985 9,730 — 69,799
2038 10,975 3,095 12,600 10,225 — 72,823
2039 11,425 3,220 13,245 10,750 — 75,912
2040 11,890 3,350 13,880 11,275 — 79,069
2041 12,375 3,490 14,510 11,790 — 82,296
2042 12,880 3,630 15,170 12,325 — 85,663
2043 13,405 3,780 15,860 12,890 — 87,292
2044 13,955 3,935 11,445 9,305 9,285 52,276
2045 14,520 4,095 — — 31,310 54,351
2046 15,115 4,260 — — 32,590 56,467
2047 15,730 4,435 — — 33,915 58,659
2048 — — — — 35,300 39,958
2049 — — — — 36,745 39,458
2050 — — — — — 2,758
2051 — — — — — 1,090
2052 — — — — — 840
Total $ 240,580 67,820 229,050 185,950 179,145 1,599,688 (Continued)
Principal Payments
Debt Capacity
Wastewater - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Statistical Section

228 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

COPs
Payments State COPs 2009D 2010B
Due for Revolving Series Before Before
FY Ended Fund Loans 2009C Subsidy 2010A Subsidy 2013A 2013B 2016A 2022 $ 1,254 61 1,578 220 10,685 1,035 14,428 10,646 2023 1,553 21 1,578 — 10,516 405 14,428 10,646 2024 1,509 — 1,551 — 10,169 89 14,207 10,509 2025 1,464 — 1,494 — 9,801 63 13,754 10,228 2026 1,419 — 1,436 — 9,409 25 13,294 9,963 2027 1,372 — 1,375 — 8,992 — 12,793 9,683 2028 1,325 — 1,312 — 8,550 — 12,233 9,356 2029 1,277 — 1,245 — 8,084 — 11,645 9,013 2030 1,227 — 1,177 — 7,592 — 11,026 8,652 2031 1,177 — 1,104 — 7,073 — 10,376 8,273 2032 1,127 — 1,027 — 6,523 — 9,692 7,875
2033 1,075 — 948 — 5,945 — 8,973 7,455
2034 1,023 — 865 — 5,344 — 8,297 7,015
2035 970 — 778 — 4,720 — 7,667 6,552
2036 915 — 690 — 4,073 — 7,013 6,066
2037 860 — 594 — 3,397 — 6,331 5,553
2038 804 — 496 — 2,690 — 5,622 5,071
2039 747 — 393 — 1,957 — 4,884 4,623
2040 689 — 287 — 1,194 — 4,116 4,157
2041 629 — 175 — 403 — 3,316 3,672
2042 569 — 59 — — — 2,196 3,167
2043 508 — — — — — 741 2,641
2044 446 — — — — — — 2,094
2045 383 — — — — — — 1,524
2046 319 — — — — — — 932
2047 253 — — — — — — 314
2048 186 — — — — — — —
2049 119 — — — — — — —
2050 73 — — — — — — —
2051 28 — — — — — — —
2052 12 — — — — — — —
Total $ 25,312 82 20,162 220 127,117 1,617 197,032 165,680 Interest Payments
Debt Capacity
Wastewater - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Statistical Section

229 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Total Total
Payments Federal Interest Principal &
Due for Interest Payments Interest
FY Ended 2016B 2018A 2018B 2018C Subsidy Net of Subsidy Payments 2022 $ 3,001 10,744 9,298 3,807 (4,048) 62,708 88,856 2023 3,001 10,551 9,142 3,808 (3,992) 61,656 99,870 2024 2,962 10,179 8,839 5,486 (3,868) 61,633 102,497 2025 2,883 9,836 8,560 7,166 (3,728) 61,521 102,504 2026 2,809 9,498 8,287 7,166 (3,579) 59,727 102,541 2027 2,729 9,144 7,999 7,166 (3,422) 57,831 102,580 2028 2,637 8,771 7,697 7,166 (3,255) 55,792 102,578 2029 2,541 8,379 7,379 7,166 (3,079) 53,650 102,576 2030 2,439 7,967 7,044 7,166 (2,894) 51,396 102,570 2031 2,333 7,534 6,693 7,166 (2,698) 49,029 102,567 2032 2,220 7,078 6,323 7,166 (2,492) 46,540 102,563 2033 2,101 6,599 5,935 7,166 (2,275) 43,922 102,552 2034 1,977 6,096 5,527 7,166 (2,050) 41,260 102,556 2035 1,847 5,567 5,097 7,166 (1,814) 38,550 102,550 2036 1,710 5,011 4,645 7,166 (1,572) 35,717 102,549 2037 1,565 4,426 4,171 7,166 (1,317) 32,746 102,545 2038 1,430 3,812 3,672 7,166 (1,051) 29,712 102,535 2039 1,303 3,166 3,148 7,166 (776) 26,611 102,523 2040 1,172 2,557 2,597 7,166 (488) 23,447 102,516 2041 1,035 1,989 2,020 7,166 (192) 20,214 102,510 2042 893 1,396 1,418 7,166 (20) 16,843 102,506 2043 745 775 788 7,166 — 13,363 100,655
2044 590 229 233 6,980 — 10,572 62,848
2045 429 — — 6,168 — 8,504 62,855
2046 264 — — 4,890 — 6,405 62,872
2047 88 — — 3,560 — 4,216 62,875
2048 — — — 2,176 — 2,362 42,320
2049 — — — 734 — 853 40,311
2050 — — — — — 73 2,831
2051 — — — — — 28 1,118
2052 — — — — — 12 852
Total $ 46,705 141,304 126,510 173,763 (48,610) 976,894 2,576,582 Interest Payments
Debt Capacity
Wastewater - Future Principal and Interest Payments for Debt Issues (Exclude Commercial Paper)
(Dollars in Thousands)
Statistical Section

230 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

(Continued)

May not total due to rounding.
*No interest payments are required.

Source: San Francisco Public Utilities Commission Official Statements.

Clean Qualified New Clean
Payments Renewable COPs COPs Energy Renewable Total Due for Energy Series Series Conservation Energy Principal FY Ended Bonds 2008* 2009C 2009D Bonds 2011 2015A 2015B Bonds 2015 Payments 2022 $ 422 405 — 549 — 815 142 2,333 2023 421 425 — 555 — 850 146 2,397 2024 — — 445 562 — 880 148 2,035 2025 — — 463 569 — 910 150 2,092 2026 — — 483 576 — 945 152 2,156 2027 — — 503 582 830 150 154 2,219 2028 — — 524 294 1,020 — 156 1,994 2029 — — 546 — 1,075 — 158 1,779
2030 — — 569 — 1,125 — 161 1,855
2031 — — 594 — 1,185 — 163 1,942
2032 — — 619 — 1,240 — 165 2,024
2033 — — 645 — 1,305 — 84 2,034
2034 — — 673 — 1,370 — — 2,043
2035 — — 702 — 1,435 — — 2,137
2036 — — 731 — 1,510 — — 2,241
2037 — — 763 — 1,585 — — 2,348
2038 — — 796 — 1,665 — — 2,461
2039 — — 830 — 1,745 — — 2,575
2040 — — 865 — 1,835 — — 2,700
2041 — — 901 — 1,925 — — 2,826
2042 — — 941 — 2,020 — — 2,961
2043 — — — — 2,125 — — 2,125
2044 — — — — 2,230 — — 2,230
2045 — — — — 2,340 — — 2,340
2046 — — — — 2,460 — — 2,460
Total $ 843 830 12,593 3,687 32,025 4,550 1,779 56,307 Principal Payments
(Dollars in Thousands)
Power - Future Principal and Interest Payments for Debt Issues Debt Capacity
Statistical Section

231 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements .

COPs QECBs NCREBs Total Total
Payments COPs 2009D 2011 2015 Federal Interest Principal & Due for Series Before Before Before Interest Payments Interest FY Ended 2009C Subsidy Subsidy 2015A 2015B Subsidy Subsidy Net of Subsidy Payments 2022 $ 31 812 168 1,593 157 81 (440) 2,402 4,735
2023 10 812 142 1,593 124 74 (417) 2,338 4,735
2024 — 798 116 1,593 93 67 (389) 2,278 4,313 2025 — 769 89 1,593 62 60 (357) 2,216 4,308 2026 — 739 62 1,593 25 53 (323) 2,149 4,305 2027 — 709 35 1,576 3 46 (289) 2,080 4,299 2028 — 675 7 1,534 — 39 (254) 2,001 3,995 2029 — 641 — 1,482 — 32 (233) 1,922 3,701
2030 — 606 — 1,427 — 25 (216) 1,842 3,697
2031 — 568 — 1,369 — 17 (199) 1,755 3,697
2032 — 530 — 1,308 — 10 (181) 1,667 3,691
2033 — 488 — 1,245 — 2 (163) 1,572 3,606
2034 — 446 — 1,178 — — (147) 1,477 3,520
2035 — 400 — 1,108 — — (132) 1,376 3,513
2036 — 354 — 1,034 — — (117) 1,271 3,512
2037 — 306 — 957 — — (101) 1,162 3,510
2038 — 255 — 876 — — (84) 1,047 3,508 2039 — 203 — 790 — — (67) 926 3,501
2040 — 148 — 701 — — (49) 800 3,500
2041 — 90 — 607 — — (30) 667 3,493
2042 — 32 — 508 — — (10) 530 3,491
2043 — — — 405 — — — 405 2,530
2044 — — — 296 — — — 296 2,526
2045 — — — 181 — — — 181 2,521
2046 — — — 62 — — — 62 2,522
Total $ 41 10,381 619 26,609 464 506 (4,196) 34,424 90,731 Debt Capacity
Power - Future Principal and Interest Payments for Debt Issues (Dollars in Thousands)
Interest Payments

Demographic and Economic Information

City and County of San Francisco Economic and General Information

Summary of Accounts by Type of Customer

Water Accounts and Billings

Historical Water Sales in Hundred Cubic Feet

Historical Water Sales in Millions of Gallons per Day

Historical Water Sales in Millions of Gallons

Wholesale Water Customers

Accounts and Billings by Type of Customer

Historical Hetchy Water Sales

Historical Hetchy Power Electric Sales

Historical CleanPowerSF Electric Sales

Photo by: Sabrina Wong

Southeast Community Center at 1550 Evans.

Statistical Section

232 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021 Fiscal Year Population¹
2016 876,103 109,760
2017 879,166 120,576
2018 880,696 131,083
2019 881,549 139,405
2020 866,606 154,019
2021 851,916 173,097
Source: Office of the Controller, City and County of San Francisco.

CITY AND COUNTY OF SAN FRANCISCO
Population and Income - Fiscal Years 2016-2021
Per Capita
Personal Income 2
The San Francisco Shipyard Photo by: Robin Scheswohl City and County of San Francisco Economic and General Information

The following provides general economic and demographic information about the City and County of San Francisco (the “City”).

San Francisco Area

The corporate limits of the City encompass over 93 square miles, of which approximately 49 square miles are land, with the balance consisting of tidelands and a portion of the San Francisco Bay. The City is located on a peninsula bounded by the Pacific Ocean to the west, the Bay to the east, the entrance to the Bay and the Golden Gate Bridge to the north and San Mateo County to the south.

San Francisco Economy

San Francisco benefits from a highly skilled, educated, and professional labor force. Key industries include high tech, tourism, real estate, banking and finance, retailing, apparel design and manufacturing. Emerging industries include multimedia and bioscience. The City is the economic center of the nine coun ties contiguous to the Bay: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma Counties (the “Bay Area”). The economy of the Bay Area includes a wide range of industries, supplying local needs as well as the needs of national and international markets. Major business sectors in the Bay Area include retail and entertainment, conventions and tourism, service businesses, banking, professional and financial services, corporate headquarters, international and wholesale trade, technology, multimedia and advertising, biotechnology, and higher education.

As of June 30, 202 1, employment have slowly
increased by 31,900 or 6.5%, from 488,300 to
520,200 employed, according to California
Employment Development Department. The Pandemic
did not seem to have an effect on housing for the Bay
Area. San Francisco homes continue to rise with
median home prices increased by $ 250,000 from
2019 to 2021 with house prices average to over $1.8
million. Personal income per capita for 2021 is
$173,097, and a typical home costs approximately 10
times the typical income, one of the highest home
price-to-income ratio in the nation.

San Francisco Population and Income
The City had a population estimated at 8 51,916 as of
fiscal year 20 21. The table reflects the population and per capita personal income of the City, as estimated
based on the U.S. Census Bureau.

1 2021 population was estimated by multiplying the estimated 20 20 population by the 2019 to 2020 population growth rate. Fiscal year 20 20 has updated from last year's Annual Comprehensive Financial Report with newly available data.

2 Per capita personal income for 20 20 and 2021 was estimated by dividing the estimated personal income for 2019 and 2020 by the reported and estimated population in 20 20 and 202 1, respectively. 202 1 was estimated by multiplying the latest quarterly State income by 1,000 and dividing by the estimated 2019 population.

Source: Office of the Controller, City and County of San Francisco

Statistical Section

233 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021 San Francisco Conventions and Tourism

The C OVID-19 pandemic has put San Francisco tourism down by 76% as compared to 2019. According to the San Francisco Travel Association (the “Travel Association”), a non-profit membership organization, although more visitors are coming back to San Francisco, it does not expect a full global tourism until 2025.

While conventions were put on hold, the South Center of the Moscone Center was San Francisco’s Emergency Operation Center Headquarter (EOC) and vaccination site. The site provided access to over 80% of the City’s residents get vaccinations.

San Francisco Employment

Although still impact with COVID-19 pandemic, according to the California Employment Development Department, the unemployment rate for the City has decreased from 12.0 % for June 20 20 to 5.5% for 2021.

The State’s unadjusted unemployment rate was 8.0% for 2021.

Tables below summarizes information on the civilian labor, employment, and unemployment in the City; and employment by industry from calendar years 2016 to 2020.

1 Labor force data reflects the March 2020 benchmark and Census 2010 population controls at the state level. June 2020 data is updated from last year's ACFR with newly available data.
2 Data not seasonally adjusted.

Source: California Employment Development Department, Labor Market Information Di vision.

1 Data reflects the March 2020 benchmark and 2018 and 2019 is updated with newly available data.

Source: California Employment Development Department, Labor Market Information Division.

Year Area Labor Force Employment Unemployment
June 2021 San Francisco 550,600 520,200 30,500 5.5%
State 19,003,600 17,479,000 1,524,600 8.0%
June 2020 San Francisco 555,000 488,300 66,700 12.0%
State 18,743,300 16,103,500 2,639,800 14.1%

CITY AND COUNTY OF SAN FRANCISCO
Civilian Labor Force, Employment, and Unemployment 1
June 2020 and 2021 2
Unemployment
Rate
2016 2017 2018 2019 2020
Total Farm 100 200 200 400 200
Total Nonfarm 703,400 719,300 735,000 762,500 69,700
Professional & Business Services 190,600 194,700 195,400 203,100 198,300 Leisure & Hospitality 97,300 96,900 98,500 101,800 59,600 Government 94,300 96,600 98,200 98,800 96,900
Educational & Health Services 87,700 89,000 90,300 94,100 91,600 Trade, Transportation & Utilities 78,800 81,000 82,600 84,300 72,900 Financial Activities 56,100 56,300 59,900 62,000 60,400 Information 39,000 43,000 46,100 52,500 55,600
Manufacturing & Construction 32,600 34,300 36,400 37,900 35,400 Other Services 27,100 27,700 27,800 28,400 22,200
Total All Industries 703,500 719,500 735,200 762,900 692,900

CITY AND COUNTY OF SAN FRANCISCO
Estimated Average Annual Employment by Sector - Calendar Years 2016-2020 1

Statistical Section

234 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021 The table below lists 25 major employers in San Francisco County, as reported by the San Francisco Business Times.

* San Francisco Business Times dated January 4, 2019.

Source: Calendar year 2020 San Francisco Business Times.

San Francisco Taxable Sales

The following table provides information on taxable sales for the City for calendar years 201 6 through 2020.

Total retail sales decreased in 2020 by approximately $4.7 billion compared to 2019.

1 The latest data as of calendar year 2020 is presented. 2 Other Retail Stores include Health and Personal Care Stores, Sporting Goods, Hobby Book, and Music stores, Miscellaneous Stor e Retailers, and Non-store Retailers.

Source: California Department of Tax and Fee Administration Employer Name
More than 10,000 Employees
City and County of San Francisco*
State of California* State Government
United States Postal Service*
University of California, San Francisco* Health Sciences University and Medical Center 5,000 - 9,999 Employees
Salesforce
San Francisco Unified School District (SFUSD)* Public Education Sutter Health
Uber Technologies Inc. Ride-Sharing Service
Wells Fargo Bank
1,000 - 4,999 Employees
Accenture Professional Services and Techology Consulting Airbnb Inc. Online Vacation Rental Services
Allied Universal Security Systems, Guarding Services
Cisco Systems Inc. Techonolgy, Networking, Sercurity and Digital City College of San Francisco* Community College
CommonSpirit Health Health Care System
Deloitte Accounting, Audit, Tax, Advisory, Consulting
First Republic Bank Financial Services
Kaiser Permanente
Linkedin Corp Online Professional Network
PG&E Corp. Electric and Gas Energy Company
San Francisco State University* Public State University Square Inc. Financial and Mechant Services, Mobile payments United Airlines Airline Carrier
Twitter Inc. Social Media
University of San Francisco University Education

CITY AND COUNTY OF SAN FRANCISCO
Major Employers
Industry
City Government
Customer Relationship Management Software
Health Care System
Mailing and Shipping
Health Care System
Financial Services
2016 2017 2018 2019 2020
Building Material/Garden Equipment/Supplies $ 586,373 605,711 681,369 718,692 642,104 Clothing and Clothing Accessories Stores 2,132,167 2,056,070 2,046,414 2,029,312 1,163,031 Food and Beverage Stores 843,717 863,215 856,217 861,757 746,455 Food Services and Drinking Places 4,670,360 4,743,633 4,844,464 5,046,263 2,081,728 Gasoline Stations 428,473 490,255 583,480 548,509 304,977 General Merchandise Stores 837,698 814,324 790,845 755,350 560,059 Home Furnishings and Appliance Stores 965,919 916,777 1,018,006 1,034,213 768,022 Motor Vehicle and Parts Dealers 573,965 628,666 674,008 601,929 593,476 Other Retail Stores2 2,223,654 2,373,545 2,535,667 2,671,219 2,690,590 Retails Stores Total $ 13,262,326 13,492,196 14,030,470 14,267,244 9,550,442 All Other Outlets not listed above 6,174,841 5,981,674 6,312,252 6,689,891 4,839,281 Total All Outlets $ 19,437,167 19,473,870 20,342,722 20,957,135 14,389,723

CITY AND COUNTY OF SAN FRANCISCO
Taxable Sales - Calendar Years 2016-2020 1
($ in Thousands)

Statistical Section

235 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 US Census Bureau, fiscal year 2020 has been updated from last year's ACFR with newly available data. 2 US Bureau of Economic Analysis, fiscal years 2019 and 2020 are updated from last year's ACFR with newly available data. 3 2021 population was estimated by multiplying the estimated 2020 population by the 2019 to 2020 population growth rate. 4 Personal income was estimated by assuming that its percentage of state personal income in fiscal years 2019 and 2020 remained at the 2019 level of 4.83 percent. 5 Per capita personal income for 2020 and 2021 was estimated by dividing the estimated personal income for 2019 and 2020 by the rep orted and estimated population in 2020 and 2021, respectively. 2021 was estimated by multiplying the latest quarterly State income by 1,000 and dividing by the estimated 2019 population.

Source: Office of the Controller, City and County of San Francisco.

Demographic and Economic Information
San Francisco Population and Income
Fiscal Years Ended 2012 to 2021
Personal Income Per Capita
Year Population 1 (In Thousands) 2 Personal income 2
2012 825,863 $ 70,573,974 $ 85,455
2013 841,138 72,858,445 86,619
2014 852,469 77,233,279 90,600
2015 862,004 89,533,450 103,867
2016 876,103 96,161,308 109,760
2017 879,166 106,006,635 120,576
2018 880,696 115,444,581 131,083
2019 881,549 122,892,141 139,405
2020 866,606 133,474,042 4 154,019 5 2021 851,916 3 147,464,243 4 173,097 5 750,000
775,000
800,000
825,000
850,000
875,000
900,000
925,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
825,863
841,138 852,469
862,004
876,103 879,166 880,696 881,549 866,606
851,916
Population
$75,000
$95,000
$115,000
$135,000
$155,000
$175,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
$85,455 $86,619
$90,600
$103,867
$109,760
$120,576
$131,083 $139,405
$154,019
$173,097
Per Capita Personal Income
(in Dollars)

Statistical Section

236 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 The latest data as of calendar year 2020 is presented from City and County of San Francisco data provided by Office of Contro ller's Payroll and Personnel Services Division. The University of California, SF data is from the Data Source Corporate Personnel Data Warehouse. All other data is obtained from the San Francisco Business Times Book of Lists.
2 Percentages have been restated based on updated employment information, and as a result, may differ from amounts reported in the Annual Comprehensive Financial Report from the City and County of San Francisco. 3 Data is from State of California Employee Development Department.

Source: Office of the Controller, City and County of San Francisco.

Demographic & Economic Information
San Francisco City and County Principal Employers
Employer Employees Rank
Percentage of
Total City
Employment Employees Rank
Percentage of
Total City
Employment
City and County of San Francisco 36,822 1 6.8 % 24,805 1 5.3 % University of California, San Francisco 29,475 2 5.4 22,493 2 4.8 Salesforce 9,450 3 1.7 — — —
San Francisco Unified School District 9,047 4 1.7 9,157 3 2.0 Wells Fargo Bank 7,021 5 1.3 8,329 4 1.8
Sutter Health 6,134 6 1.1 — — —
Uber Technologies Inc. 5,500 7 1.0 — — —
Kaiser Permanente 4,635 8 0.9 3,537 10 0.8
Pacific Gas & Electric Corporation 3,500 9 0.6 4,340 8 0.9 Allied Universal 3,475 10 0.6 — — —
California Pacific Medical Center — — — 6,200 5 1.3 Gap, Inc. — — — 6,000 6 1.3
State of California — — — 4,429 7 0.9
San Francisco State University — — — 3,544 9 0.8
Total 115,059 21.1 % 92,834 19.9 % Total City Employment 3 552,650 467,733
2020 1 2011 2

Statistical Section

237 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 Beginning in fiscal year 2019, Unmetered Properties accounts are included. 2 Large increase in commercial sewer accounts in fiscal year 2019 is due to new requirements that all water accounts for fire -fighting purposes have a corresponding sewer account. Fiscal year 2019 sewer accounts were updated between Commercial and Municipal.

Source: San Francisco Public Utilities Commission Water Sewer System and Customer Care and Billing System as of June 30, 20 21 and Rate Schedules.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Water Account Types
Retail - San Francisco
Multi-Family Residential 40,990 41,121 41,165 41,279 41,369 41,594 42,101 42,482 42,849 43,360 Single-Family Residential 109,957 110,062 110,144 110,140 110,050 110,118 110,153 110,413 110,584 110,113 Commercial 20,245 20,270 20,354 20,384 20,320 20,344 20,429 20,512 20,509 20,306 Industrial 84 83 82 81 81 80 80 81 77 75 Municipal 1,795 1,826 1,843 1,849 1,885 1,882 1,915 1,939 1,985 2,019 Subtotal 173,071 173,362 173,588 173,733 173,705 174,018 174,678 175,427 176,004 175,873 Retail - Other
Commercial 90 89 88 85 85 83 86 87 87 86 Municipal 1 1 1 1 1 1 1 1 1 1 Other 3 3 3 3 3 3 3 2 2 2 Residential 207 208 212 211 211 211 208 208 207 206 Subtotal 301 301 304 300 300 298 298 298 297 295 Wholesale
Private utilities 21 21 21 22 22 22 22 22 22 22 Public utilities 60 60 57 56 56 56 56 56 56 56 Subtotal 81 81 78 78 78 78 78 78 78 78 Total water accounts 173,453 173,744 173,970 174,111 174,083 174,394 175,054 175,803 176,379 176,246 Sewer Account Types
Retail & Resale
Multi-Family Residential 36,275 36,301 36,248 36,313 36,293 36,323 36,326 36,387 36,467 36,528 Single-Family Residential 110,875 111,007 111,125 111,173 111,137 111,268 111,385 111,681 111,869 111,398 Commercial2 15,439 15,400 15,430 15,460 15,411 15,388 15,494 24,465 24,721 24,941 Municipal2 719 729 725 731 738 751 763 1,109 1,150 1,182 Suburban (Watershed Keepers) 8 8 9 9 8 8 8 8 7 7 Unmetered Properties1 306 302 300 Total sewer accounts 163,316 163,445 163,537 163,686 163,587 163,738 163,976 173,956 174,516 174,356 Demographic & Economic Information
Summary of Water and Sewer Accounts by Type of Customer Fiscal Years Ended 2012 to 2021
No data prior to fiscal year 2019
173,453 173,744 173,970 174,111 174,083 174,394
175,054
175,803
176,379 176,246
163,316 163,445 163,537 163,686 163,587 163,738 163,976 173,956
174,516 174,356
162,000
164,000
166,000
168,000
170,000
172,000
174,000
176,000
178,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Number of Accounts
Water and Sewer Accounts
Water Accounts
Sewer Accounts
Fiscal Year

Statistical Section

238 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Non-City Agencies include electric retail and municipal customers such as Moscone tenants, Exploratorium, and Yerba Buena Gardens. Increases from fiscal years 2016 to 2021 are new accounts in various Redevelopment Projects and the Distributed Antenna System.

Source: San Francisco Public Utilities Commission Power Enterprise Billing System and s tarting fiscal year 2021, Customer To Meter Billing System.

^ Increase is from completion of citywide enrollment.

Source: Calpine’s customer snapshot reports. Calpine obtains the data from PG&E.

Hetchy Water
Accounts 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Upcountry Water Sales 7 7 7 7 6 5 5 5 5 5 Hetchy Power
Electric Meters 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 City Agencies 1,437 1,449 1,470 1,480 1,494 1,491 1,511 1,499 1,512 1,489 Non-City Agencies* 780 766 758 783 1,090 1,536 1,996 2,209 2,526 3,858 Moccasin/City of Riverbank 41 40 41 40 41 39 38 37 37 36 Modesto/Turlock Irrigation Districts 2 2 2 2 2 2 2 2 2 2 Total accounts 2,260 2,257 2,271 2,305 2,627 3,068 3,547 3,747 4,077 5,385 Gas and Steam Meters
Nature Gas (City Agencies) 343 346 351 352 359 351 355 352 352 352 Steam (City Agencies) 11 12 12 12 12 12 12 12 12 12 Total accounts 354 358 363 364 371 363 367 364 364 364 Demographic & Economic Information
Summary of Hetchy Water, Hetchy Power and CleanPowerSF Accounts by Type of Customer Fiscal Years Ended 2012 to 2021
Source: San Francisco Public Utilities Commission Customer Care and Billing CleanPowerSF
Account 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Residential 364 69,492 74,160 343,807 351,219 352,835 Commercial
Small Commercial Service 6,256 6,169 6,422 27,750 27,368 27,044 Medium Commercial Service 541 504 688 2,428 2,381 2,272 Large Commercial Service 299 314 336 1,812 1,887 1,859 Agricultural — 3 7 25 25 25 Street and Outdoor Lighting — — — 306 299 297 Commercial Subtotal 7,096 6,990 7,453 32,321 31,960 31,497 Total accounts 7,460 76,482 81,613 376,128 383,179 384,332 Data not available - CleanPowerSF
launched in May 2016.
^ ^

Statistical Section

239 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Hundred cubic feet = 748 gallons
** Millions of gallons

Source: Summary of Annual Water Sales reports, San Francisco Public Utilities Commission Water Sewer System and Customer Care and Billing System.

Fiscal
Year
Number of
Consumer
Accounts
Water
Consumed
(CCF)*
Water
Consumed
(MG)**
Service
Charges
Billed ($)
Water
Charges
Billed ($)
Total
Amount
Billed ($)
2012 173,453 103,435,144 77,369 26,267 315,713 341,980 2013 173,744 105,166,558 78,665 29,168 360,354 389,522 2014 173,970 106,183,899 79,425 31,849 339,139 370,988 2015 174,111 92,624,944 69,284 33,561 336,182 369,743 2016 174,083 82,783,466 61,923 37,125 375,020 412,145 2017 174,394 85,169,254 63,706 40,650 425,629 466,279 2018 175,054 92,689,320 69,331 43,748 476,385 520,133 2019 175,803 89,997,393 67,319 44,104 478,448 522,552 2020 176,379 93,495,127 69,934 47,310 548,199 595,509 2021 176,246 91,994,566 68,812 50,391 545,521 595,912 Demographic & Economic Information
Water Accounts and Billings
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
0 10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Sales (dollars in thousands)
Consumption (in millions of gallons)
Fiscal Year
Historical Consumption vs. Sales Revenues
Consumption
Sales Revenues

Statistical Section

240 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 Includes Docks and Ships under Commercial.
2 From fiscal year 2016 onward, California Water Service Company, Daly City, and San Bruno are participating in the conjunctive use groundwater program. These customers receive a bill credit for regional water system usage in-lieu of groundwater pumping. Totals reported in this table exclude water credited under the conjunctive use program. 3 Master-metered Treasure Island water sales were included under Commercial from fiscal year 2011 and 2012 and under Suburban Retail f rom fiscal year 2013 to fiscal year 2016. Beginning in fiscal year 2017, they have been classified under Municipal. Current Treasure Island usage represents purchases by the Treasure Island Development Authority and various commercial, residential, and governmental leasees. As new development is completed on Treasure Island, customers will open individual accounts under the appropriate commercial or residential line items, and the master -metered amount will be reduced accordingly. 4 Beginning in fiscal year 2017, recycled water sales to Harding Park are included under Municipal.

Source: Rate Schedules, Summary of Annual Water Sales reports, San Francisco Public Utilities Commission Customer Care and Bi lling System.

2021
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 % of Total Retail Customers
Multi-Family Residential 12,139,673 11,857,405 11,790,707 10,923,723 10,511,291 10,730,224 11,088,325 11,001,321 11,377,523 11,091,058 12.1% Single-Family Residential 7,854,469 7,848,355 8,124,179 7,056,525 6,674,624 6,765,508 6,954,084 6,766,191 7,051,008 7,101,350 7.7% Commercial 1 9,387,963 9,369,923 9,249,884 8,881,095 8,486,990 8,286,580 8,539,377 8,145,347 7,391,713 5,152,409 5.6% Industrial 90,174 91,641 96,073 100,995 94,178 92,846 86,555 84,142 73,296 43,251 0.0% Municipal 3,4,6 1,584,640 1,764,467 1,818,869 1,351,523 1,252,031 1,519,354 1,582,906 1,592,205 1,652,984 1,387,438 1.5% Suburban Retail 3 1,773,498 2,082,763 2,090,360 1,860,949 1,556,586 1,397,568 1,524,511 1,426,850 1,474,800 1,368,225 1.5% Retail water sales 32,830,417 33,014,554 33,170,072 30,174,810 28,575,700 28,792,081 29,775,757 29,016,056 29,021,324 26,143,730 28.4% Wholesale Customers
California Water Service 2 16,081,904 16,104,269 16,478,539 14,177,253 11,442,469 11,853,307 13,437,872 12,823,623 14,158,729 14,422,994 15.7% Hayward Municipal Water 7,610,980 7,552,956 7,402,067 6,634,616 5,979,616 6,281,522 7,101,954 6,821,848 6,929,989 7,098,350 7.7% City of Palo Alto 5,561,559 5,528,554 5,520,468 4,671,433 4,006,084 4,382,560 4,859,576 4,600,987 4,757,199 4,785,384 5.2% City of Sunnyvale 4,406,804 4,653,481 4,169,463 3,801,695 3,816,230 3,966,024 4,615,487 4,281,432 4,602,280 4,745,166 5.2% Alameda County Water District 3,953,054 4,423,129 5,837,509 3,885,891 2,924,129 3,039,722 3,875,669 3,745,166 3,788,287 4,638,801 5.0% City of Redwood City 4,420,594 4,541,338 4,457,196 3,909,265 3,484,888 3,764,419 4,109,993 3,945,340 4,269,768 4,180,327 4.5% City of Mountain View 4,273,100 4,436,942 4,405,542 3,715,499 3,285,167 3,374,726 3,679,915 3,551,507 3,706,595 3,857,685 4.2% City of Milpitas 3,027,111 3,137,125 3,244,023 2,556,289 2,199,649 2,361,244 2,544,956 2,504,392 2,956,102 2,618,214 2.8% Estero Municipal Improvement District 1,982,291 1,977,026 1,983,373 1,942,828 1,755,953 1,869,684 2,064,667 1,966,799 2,115,607 2,101,149 2.3% City of San Jose 2,138,714 2,197,501 2,263,880 2,189,406 1,990,436 2,017,559 2,198,147 2,104,452 2,065,632 2,052,823 2.2% All Other Wholesale Customers 2 17,148,616 17,599,683 17,251,767 14,965,959 13,323,145 13,466,407 14,425,326 14,635,791 15,123,615 15,349,943 16.7% Wholesale water sales 70,604,727 72,152,004 73,013,827 62,450,134 54,207,766 56,377,174 62,913,563 60,981,337 64,473,803 65,850,836 71.6% Total water sales 103,435,144 105,166,558 106,183,899 92,624,944 82,783,466 85,169,254 92,689,320 89,997,393 93,495,127 91,994,566 100.0% % Change from prior year -0.7% 1.6% 1.0% -12.8% -10.6% 2.9% 8.8% -2.9% 3.9% -1.6% Number of accounts 173,453 173,744 173,970 174,111 174,083 174,394 175,054 175,803 176,379 176,246 Retail 173,372 173,663 173,892 174,033 174,005 174,316 174,976 175,725 176,301 176,168 Wholesale 81 81 78 78 78 78 78 78 78 78
Demographic & Economic Information
Historical Water Sales in Hundred Cubic Feet
Fiscal Years Ended 2012 to 2021
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
70,000,000
80,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Sales in Hundred Cubic Feet
Fiscal Year
Historical Water Sales Volumes
Retail
Wholesale

Statistical Section

241 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 Includes Docks and Ships under Commercial.
2 From fiscal year 2016 onward, California Water Service Company, Daly City, and San Bruno are participating in the conjunctive use groundwater program. These customers receive a bill credit for regional water system usage in-lieu of groundwater pumping. Totals reported in this table exclude water credited under the conjunctive use program 3 Master-metered Treasure Island water sales were included under Commercial from fiscal year 2011 and 2012 and under Suburban Retail f rom fiscal year 2013 to fiscal year 2016. Beginning in fiscal year 2017, they have been classified under Municipal. Current Treasure Island usage represents purchases by the Treasure Island Development Authority and various commercial, residential, and governmental l easees. As new development is completed on Treasure Island, customers will open individual accounts under the appropriate commercial or residential line items, and the master -metered amount will be reduced accordingly. 4 Beginning in fiscal year 2017, recycled water sales to Harding Park are included under Municipal.

Source: Rate Schedules, Summary of Annual Water Sales reports, San Francisco Public Utilities Commission Customer Care and Bi lling System.

2021
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 % of Total Retail Customers
Multi-Family Residential 24.8 24.3 24.2 22.4 21.5 22.0 22.7 22.5 23.3 22.7 12.1% Single-Family Residential 16.1 16.1 16.6 14.5 13.6 13.9 14.3 13.9 14.4 14.6 7.7% Commercial 1 19.2 19.2 19.0 18.2 17.3 17.0 17.5 16.7 15.1 10.6 5.6% Industrial 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.0% Municipal 3,4,6 3.2 3.6 3.7 2.8 2.6 3.1 3.2 3.3 3.4 2.8 1.5% Suburban Retail 3 3.6 4.3 4.3 3.8 3.2 2.9 3.1 2.9 3.0 2.8 1.5% Retail water sales 67.1 67.7 68.0 61.9 58.4 59.1 61.1 59.5 59.3 53.6 28.4% Wholesale Customers
California Water Service 2 32.9 33.0 33.8 29.1 23.4 24.3 27.5 26.3 29.0 29.6 15.7% Hayward Municipal Water 15.6 15.5 15.2 13.6 12.2 12.9 14.6 14.0 14.2 14.5 7.7% City of Palo Alto 11.4 11.3 11.3 9.6 8.2 9.0 10.0 9.4 9.7 9.8 5.2% City of Sunnyvale 9.0 9.5 8.5 7.8 7.8 8.1 9.5 8.8 9.4 9.7 5.2% Alameda County Water District 8.1 9.1 12.0 8.0 6.0 6.2 7.9 7.7 7.7 9.5 5.0% City of Redwood City 9.1 9.3 9.1 8.0 7.1 7.7 8.4 8.1 8.8 8.6 4.5% City of Mountain View 8.7 9.1 9.0 7.6 6.7 6.9 7.5 7.3 7.6 7.9 4.2% City of Milpitas 6.2 6.4 6.6 5.2 4.5 4.8 5.2 5.1 6.1 5.4 2.8% Estero Municipal Improvement District 4.1 4.1 4.1 4.0 3.6 3.8 4.2 4.0 4.3 4.3 2.3% City of San Jose 4.4 4.5 4.6 4.5 4.1 4.1 4.5 4.3 4.2 4.2 2.2% All Other Wholesale Customers 2 35.1 36.1 35.4 30.7 27.3 27.6 29.6 30.0 31.0 31.5 16.7% Wholesale water sales 144.6 147.9 149.7 128.0 110.8 115.5 128.9 125.0 131.6 135.0 71.6% Total water sales 211.7 215.6 217.7 189.9 169.2 174.6 190.0 184.5 190.9 188.6 100.0% % Change from prior year -0.7% 1.6% 1.0% -12.8% -10.6% 2.9% 8.8% -2.9% 3.9% -1.6% Number of accounts 173,453 173,744 173,970 174,111 174,083 174,394 175,054 175,803 176,379 176,246 Retail 173,372 173,663 173,892 174,033 174,005 174,316 174,976 175,725 176,301 176,168 Wholesale 81 81 78 78 78 78 78 78 78 78
Demographic & Economic Information
Historical Water Sales in Millions of Gallons per Day
Fiscal Years Ended 2012 to 2021

Statistical Section

242 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 Includes Docks and Ships under Commercial.
2 From fiscal year 2016 onward, California Water Service Company, Daly City, and San Bruno are participating in the conjunctive use groundwater program. These customers receive a bill credit for regional water system usage in-lieu of groundwater pumping. Totals reported in this table exclude water credited under the conjunctive use program. 3 Master-metered Treasure Island water sales were included under Commercial from fiscal year 2011 and 2012 and under Suburban Retail from fiscal year 2013 to fiscal year 2016. Beginning in fiscal year 2017, they have been classified under Municipal. Current Treasure Island usage represents purchases by the Treasure Island Development Authority and various commercial, residential , and governmental leasees. As new development is completed on Treasure Island, customers will open individual accounts under the appropriate commercial or residential line items, and the master -metered amount will be reduced accordingly. 4 Beginning in fiscal year 2017, recycled water sales to Harding Park are included under Municipal.

Source: Rate Schedules, Summary of Annual Water Sales reports, San Francisco Public Utilities Commission Customer Care and Bi lling System.

2021
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 % of Total Retail Customers
Multi-Family Residential 9,080 8,869 8,819 8,171 7,862 8,026 8,294 8,229 8,510 8,296 12.1% Single-Family Residential 5,875 5,871 6,077 5,278 4,993 5,061 5,202 5,061 5,274 5,312 7.7% Commercial 1 7,022 7,009 6,919 6,643 6,348 6,198 6,387 6,093 5,529 3,854 5.6% Industrial 67 69 72 76 70 69 65 63 55 32 0.0% Municipal 3,4,6 1,185 1,320 1,361 1,011 937 1,136 1,184 1,191 1,236 1,038 1.5% Suburban Retail 3 1,327 1,558 1,564 1,392 1,164 1,045 1,140 1,067 1,103 1,023 1.5% Retail water sales 24,557 24,695 24,811 22,571 21,375 21,536 22,272 21,704 21,708 19,555 28.4% Wholesale Customers
California Water Service 2 12,029 12,046 12,326 10,605 8,559 8,866 10,052 9,592 10,591 10,788 15.7% Hayward Municipal Water 5,693 5,650 5,537 4,963 4,473 4,699 5,312 5,103 5,184 5,310 7.7% City of Palo Alto 4,160 4,135 4,129 3,494 2,997 3,278 3,635 3,442 3,558 3,579 5.2% City of Sunnyvale 3,296 3,481 3,119 2,844 2,855 2,967 3,452 3,203 3,443 3,549 5.2% Alameda County Water District 2,957 3,309 4,366 2,907 2,187 2,274 2,899 2,801 2,834 3,470 5.0% City of Redwood City 3,307 3,397 3,334 2,924 2,607 2,816 3,074 2,951 3,194 3,127 4.5% City of Mountain View 3,196 3,319 3,295 2,779 2,457 2,524 2,753 2,657 2,773 2,886 4.2% City of Milpitas 2,264 2,347 2,427 1,912 1,645 1,766 1,904 1,873 2,211 1,958 2.8% Estero Municipal Improvement District 1,483 1,479 1,484 1,453 1,313 1,399 1,544 1,471 1,582 1,572 2.3% City of San Jose 1,600 1,644 1,693 1,638 1,489 1,509 1,644 1,574 1,545 1,536 2.2% All Other Wholesale Customers 2 12,827 13,165 12,904 11,195 9,966 10,073 10,790 10,948 11,312 11,482 16.7% Wholesale water sales 52,812 53,970 54,614 46,713 40,548 42,170 47,059 45,615 48,226 49,257 71.6% Total water sales 77,369 78,665 79,425 69,284 61,923 63,706 69,331 67,319 69,934 68,812 100.0% % Change from prior year -0.7% 1.6% 1.0% -12.8% -10.6% 2.9% 8.8% -2.9% 3.9% -1.6% Number of accounts 173,453 173,744 173,970 174,111 174,083 174,394 175,054 175,803 176,379 176,246 Retail 173,372 173,663 173,892 174,033 174,005 174,316 174,976 175,725 176,301 176,168 Wholesale 81 81 78 78 78 78 78 78 78 78
Demographic & Economic Information
Historical Water Sales in Millions of Gallons
Fiscal Years Ended 2012 to 2021

Statistical Section

243 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021 Wholesale Water Customers - Map of Bay Area Water Supply and Conservation Agency (BAWSCA) Members

* Cordilleras Mutual Water is a SFPUC Wholesale Customer but not a member of BAWSCA.

Source: Bay Area Water Supply and Conservation Agency (BAWSCA), San Mateo County General Plan.

Agency Name:

1. Alameda County Water District 13. Mid-Peninsula Water District

2. City of Brisbane 14. City of Millbrae

3. City of Burlingame 15. City of Milpitas
4a. California Water Service Company - Bear Gulch 16. City of Mountain View 4b. California Water Service Company - Mid-Peninsula 17. North Coast County Water District 4c. California Water Service Company - South San Francisco 18. City of Palo Alto

5. Coastside County Water District 19. Purissima Hills Water District

6. City of Daly City 20. City of Redwood City

7. City of East Palo Alto 21. City of San Bruno

8. Estero Municipal Improvement District 22. San Jose Municipal Water System

9. Guadalupe Valley Municipal Improvement District 23. City of Santa Clara

10. City of Hayward 24. Stanford University

11. Town of Hillsborough 25. City of Sunnyvale

12. City of Menlo Park 26. Westborough Water District

Statistical Section

244 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 Includes Docks and Ships and Builders and Contractors under Commercial. 2 Beginning in fiscal year 2017, Treasure Island and Harding Park recycled water revenues are included in Municipal. 3 All Suburban Retail usage is included in the Non -Residential line item for purposes of calculating the percentage of revenue from each cu stomer type. However, Suburban Retail usage includes some residential usage.

Source: San Francisco Public Utilities Commission Water Sewer System and Customer Care and Billing System.

Customer Type 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Multiple-Family Residential
Number of accounts 40,990 41,121 41,165 41,279 41,369 41,594 42,101 42,482 42,849 43,360 Billings $ 55,929 61,681 65,880 68,517 74,055 83,180 91,994 97,879 109,461 115,888 Single-Family Residential
Number of accounts 109,957 110,062 110,144 110,140 110,050 110,118 110,153 110,413 110,584 110,113 Billings $ 41,240 46,361 51,586 50,670 54,209 60,424 66,304 69,840 78,329 85,094 Commercial 1
Number of accounts 20,245 20,270 20,354 20,384 20,320 20,344 20,429 20,512 20,509 20,306 Billings $ 47,620 53,710 56,522 58,416 63,080 67,748 74,720 76,950 76,586 59,883 Industrial
Number of accounts 84 83 82 81 81 80 80 81 77 75 Billings $ 447 511 568 644 677 736 738 796 765 528 Municipal 2
Number of accounts 1,795 1,826 1,843 1,849 1,885 1,882 1,916 1,939 1,985 2,019 Billings $ 7,030 8,663 9,455 8,719 9,274 11,999 13,147 14,253 15,901 14,541 Suburban Retail
Number of accounts 301 301 304 300 300 298 297 298 297 295 Billings $ 7,105 7,525 8,023 8,122 7,845 8,836 10,466 10,313 11,127 11,113 Wholesale
Number of accounts 81 81 78 78 78 78 78 78 78 78 Billings $ 182,609 211,071 178,954 174,655 203,005 233,356 262,764 252,521 303,340 308,865 Total
Number of accounts 173,453 173,744 173,970 174,111 174,083 174,394 175,054 175,803 176,379 176,246 Billings $ 341,980 389,522 370,988 369,743 412,145 466,279 520,133 522,552 595,509 595,912 Percentage of Revenue
Residential 28.3% 27.7% 31.7% 32.2% 31.1% 30.8% 30.4% 32.1% 31.5% 33.7% Non-residential 3 18.2% 18.1% 20.1% 20.5% 19.6% 19.2% 19.0% 19.6% 17.5% 14.4% Wholesale 53.5% 54.2% 48.2% 47.3% 49.3% 50.0% 50.6% 48.3% 51.0% 51.9% Total Percentage of Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% Demographic & Economic Information
Water Accounts & Billings by Type of Customer
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)

Statistical Section

245 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

1 Beginning in fiscal year 2017, Treasure Island revenues are included under Municipal. 2 Large increase in commercial sewer accounts in fiscal year 2019 is due to new requirements that all water accounts for fire -fighting purposes have a corresponding sewer account. Fiscal year 2019 sewer accounts were updated between Commercial and Municipal. * Beginning in fiscal year 2019, Unmetered Properties accounts are included. ^Billing amount has been updated.

Source: San Francisco Public Utilities Commission Customer Care and Billing System.

Customer Type 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Multiple-Family Residential
Number of accounts 36,275 36,301 36,248 36,313 36,293 36,323 36,326 36,387 36,467 36,528 Hundred cubic feet 11,305,560 11,034,590 10,979,262 10,199,389 9,854,965 9,996,526 10,282,601 10,222,770 10,536,087 10,262,890 Millions of gallons per day 23.1 22.6 22.5 20.9 20.1 20.2 21.1 20.9 21.5 21.0 Billings $ 93,264 95,607 99,603 100,178 101,730 110,829 126,789 133,454 146,548 153,611 Single-Family Residential
Number of accounts 110,875 111,007 111,125 111,173 111,137 111,268 111,385 111,681 111,869 111,398 Hundred cubic feet 6,976,856 6,975,869 7,220,346 6,296,323 5,993,115 6,058,304 6,228,159 6,067,155 6,324,480 6,369,781 Millions of gallons per day 14.3 14.3 14.8 12.9 12.2 12.3 12.8 12.4 13.0 13.1 Billings $ 55,776 58,683 64,377 61,048 61,177 66,661 76,534 79,971 89,688 95,297 Commercial 2
Number of accounts 15,439 15,400 15,430 15,460 15,411 15,388 15,494 24,465 24,721 24,941 Hundred cubic feet 7,883,555 7,816,146 7,931,611 7,594,556 7,366,932 7,171,298 7,230,465 6,978,016 6,246,081 4,154,011 Millions of gallons per day 16.1 16.0 16.3 15.6 15.1 15.1 14.8 14.3 12.8 8.5 Billings $ 75,604 74,978 76,740 76,042 77,387 80,968 89,803 91,069 86,650 ^ 61,071 Municipal 1, 2
Number of accounts 719 729 725 731 738 751 763 1,109 1,150 1,182 Hundred cubic feet 681,755 701,162 657,708 570,386 588,044 578,015 589,621 585,833 545,917 420,610 Millions of gallons per day 1.4 1.4 1.3 1.2 1.2 1.2 1.2 1.2 1.1 0.9 Billings $ 6,316 6,520 6,205 5,534 5,965 7,586 7,163 9,002 8,885 7,605 Suburban Retail (Watershed Keepers)
Number of accounts 8 8 9 9 8 8 8 8 7 7
Hundred cubic feet 322 298 303 259 200 221 321 217 216 203 Millions of gallons per day 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Billings $ 2 2 3 2 2 2 4 3 3 3
Unmetered Properties*
Number of accounts 306 302 300
Hundred cubic feet N/A N/A N/A
Millions of gallons per day N/A N/A N/A
Billings $ 82 112 117
Total
Number of accounts 163,316 163,445 163,537 163,686 163,587 163,738 163,976 173,956 174,516 174,356 Hundred cubic feet 26,848,048 26,528,064 26,789,230 24,660,912 23,803,256 23,804,362 24,331,167 23,853,991 23,652,781 21,207,495 Millions of gallons per day 54.9 54.3 54.9 50.6 48.6 48.8 49.9 48.8 48.4 43.5 Billings $ 230,962 235,790 246,927 242,804 246,261 266,046 300,293 313,581 331,886 317,704 Percentage of Revenue
Residential 64.5% 65.4% 66.4% 66.4% 66.2% 66.7% 67.7% 68.1% 71.2% 78.3% Non-residential 35.5% 34.6% 33.6% 33.6% 33.8% 33.3% 32.3% 31.9% 28.8% 21.7% Total Percentage of Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% Demographic & Economic Information
Wastewater Accounts, Billings & Discharge by Type of Customer Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
No data prior to fiscal year 2019

Statistical Section

246 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

May not total due to rounding.

Source:
* City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statement s. ** San Francisco Public Utilities Commission Customer Care and Billing System. Fiscal year 2015 and prior was Moccasin meter reading s.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Sales*
Groveland Community Services District $ 138,957 157,635 151,969 121,840 163,525 168,757 168,377 147,448 160,626 188,208 Lawrence Livermore 1,592,083 2,035,808 2,037,396 1,787,240 1,836,447 211,771 630,097 132,893 36,863 2,627,028 State of California 9,151 7,415 7,875 8,960 9,429 11,430 13,625 13,392 13,139 11,135 Other Residential Customers 6,606 11,581 15,165 13,391 14,368 15,680 14,726 7,943 1,425 3,469 Water Assessment 30,638,901 35,071,901 33,309,058 36,800,000 36,600,000 34,600,000 32,600,000 33,578,000 34,585,000 44,149,000 Total sales $ 32,385,699 37,284,340 35,521,463 38,731,431 38,623,769 35,007,638 33,426,825 33,879,676 34,797,053 46,978,839 Consumption (hundred cubic feet)**
Groveland Community Services District 181,530 210,561 200,328 156,801 161,249 154,319 166,624 143,437 158,037 188,595 Lawrence Livermore 371,466 398,026 376,662 307,606 282,531 28,389 81,029 14,267 2,543 266,323 State of California 1,839 3,466 3,026 1,174 1,230 1,302 1,459 1,346 1,235 960 Other Residential Customers 2,188 2,209 2,749 2,248 2,152 2,085 1,803 1,986 2,454 2,258 Total consumption 557,023 614,261 582,764 467,829 447,162 186,095 250,915 161,036 164,269 458,136 Demographic & Economic Information
Historical Hetchy Water Sales
Fiscal Years Ended 2012 to 2021
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$40,000,000
$45,000,000
$50,000,000
50,000
150,000
250,000
350,000
450,000
550,000
650,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Sales (in dollars)
Consumption (in hundred cubic feet)
Fiscal Year
Historical Consumption vs. Sales Revenues
Consumption Sales Revenues

Statistical Section

247 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Non-city Agencies include electric retail and municipal customers such as Moscone tenants, Exploratorium, and Yerba Buena Gardens. ** Purchases include Western Systems Power Pool (WSPP), Spot Market with Modesto Irrigation District, Sunset Reservoir Photov oltaic generation. Decrease in fiscal year 2017 was due to no purchases with WSPP.
*** Sales in dollars do not include utility and surcharge taxes. ~ Includes cogeneration and all in -city solar generation. Generation is generic for all electricity production/output. Cogeneration is specific to the combustio n turbines at the Southeast treatment plant.
~~ The breakdown for City Agencies is grouped per budget schedule. @ Starting fiscal year 2021, 3rd party sale for attributes is added but is not part ot the Total average sale per KWh. # No sales in fiscal years 2015 and 2019 due to no excess power for sale. WSPP includes only energy sales. ⌂ Closure of the energy bank with PG&E in fiscal year 2015. ◊ Purchase agreement ended in December 2017.

Source: San Francisco Public Utilities Commission Power Enterprise Billing System and starting fiscal year 2021, Customer To Meter Billing System .

Statistical Section The San Francisco Public Utilities Commission The San Francisco Public Utilities Commission 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Sales (Megawatt hours)
General Fund Rate Subsidized ~~ 378,503 365,234 367,904 359,519 373,114 366,880 375,327 366,867 348,157 303,588 Enterprise Rate ~~ 485,204 484,628 493,254 487,869 495,272 484,070 471,554 477,477 452,951 404,810 Wholesale market power sales (Megawatt) N/A N/A N/A N/A N/A N/A N/A N/A N/A 110,000 Western Systems Power Pool 143,675 131,200 2,400 — 9,520 29,050 15,900 — 84,574 43 Modesto/Turlock Irrigation Districts 277,838 227,544 103,489 115,026 377,981 152,321 46,651 — — — Non-city Agencies* 101,128 116,996 117,289 101,605 99,568 95,297 112,157 146,527 133,805 128,945 Moccasin/City of Riverbank 7,552 7,808 9,206 25,472 30,451 9,114 9,650 8,235 7,220 7,672 Total sales 1,393,900 1,333,410 1,093,542 1,089,491 1,385,906 1,136,732 1,031,239 999,106 1,026,707 955,058 Purchases ** 125,033 38,702 76,905 45,465 113,154 808 188,052 157,227 58,477 6,598 Generation ~ 1,332,957 1,312,446 1,032,589 988,649 1,532,068 1,726,072 1,302,461 1,212,348 1,287,848 973,802 Total purchases/generation 1,457,990 1,351,148 1,109,494 1,034,114 1,645,222 1,726,880 1,490,513 1,369,575 1,346,325 980,400 Banked/(Withdrawal) (21,978) 6,707 17,102 78,391 — — — — — — Sales (Dollars in thousands) ***
General Fund Rate Subsidized ~~ $ 13,595 13,330 15,006 18,125 22,151 23,668 26,591 28,766 28,990 28,095 Enterprise Rate ~~ 52,512 52,955 60,766 65,022 65,897 67,627 67,598 73,224 74,895 68,696 Wholesale market power sales N/A N/A N/A N/A N/A N/A N/A N/A N/A 467 Western Systems Power Pool 3,817 5,143 127 — 157 755 688 — 2,780 1 Modesto/Turlock Irrigation Districts 7,340 6,538 3,431 4,488 13,634 7,700 2,612 — — — Non-city Agencies * 13,810 14,815 16,305 14,628 15,610 16,350 19,359 23,258 22,255 22,902 Moccasin/City of Riverbank 457 486 607 1,100 1,095 550 577 539 625 887 Total sales $ 91,531 93,267 96,242 103,363 118,544 116,650 117,425 125,787 129,545 121,048 Purchases ** $ 4,754 2,494 4,408 2,045 5,546 1,859 8,671 11,832 7,381 6,271^^ Average Sale per KWh (in Dollars)
General Fund Rate Subsidized ~~ $ 0.0359 0.0365 0.0408 0.0504 0.0594 0.0645 0.0708 0.0784 0.0833 0.0925 Enterprise Rate ~~ 0.1082 0.1093 0.1232 0.1333 0.1331 0.1397 0.1434 0.1534 0.1653 0.1697 Western Systems Power Pool 0.0266 0.0392 0.0529 — 0.0165 0.0260 0.0433 — 0.0329 0.0233 Modesto/Turlock Irrigation Districts 0.0264 0.0287 0.0332 0.0390 0.0361 0.0506 0.0560 — — — Non-city Agencies * 0.1366 0.1266 0.1390 0.1440 0.1568 0.1716 0.1726 0.1587 0.1663 0.1776 Moccasin/City of Riverbank 0.0605 0.0622 0.0659 0.0432 0.0360 0.0603 0.0598 0.0655 0.0866 0.1156 Total average sale per KWh $ 0.0657 0.0699 0.0880 0.0949 0.0855 0.1026 0.1139 0.1259 0.1262 0.1427 Average Purchase per KWh ** 0.0380 0.0644 0.0573 0.0450 0.0490 2.3007 0.0461 0.0753 0.1262 0.9504 Surplus Sales vs. Purchase **
Net WSPP Sales - Purchases (MWh) 18,642 92,498 (74,505) (45,465) (103,634) N/A (172,152) (157,227) 26,097 (6,555) Surplus WSPP Sales minus Purchases, $1,000s $ (937) 2,649 (4,281) (2,045) (5,389) N/A (7,983) (11,832) (4,601) (6,270) WSPP average sales per KWh minus
Average Purchase per KWh $ (0.0115) (0.0252) (0.0044) (0.0450) (0.0325) N/A (0.0028) (0.0753) (0.0933) (0.9272) Number of meters
Electric 2,260 2,257 2,271 2,305 2,627 3,068 3,547 3,747 4,077 5,385 Demographic & Economic Information
Historical Hetchy Power Electric Sales
Fiscal Years Ended 2012 to 2021
#
◊
◊
#
#
◊
⌂
@
@
@

Statistical Section

248 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

^ Large increase in residential is due to completion of citywide enrollment.

Source: * CleanPowerSF Management Reports and ** Starting FY2020, the sales dollar data is based on audited financial statements.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Power Sales (Megawatt hours)*
Residential 163 148,220 233,515 433,541 1,236,988 ^ 1,295,948 Commercial
Small Commercial Service 14,985 111,618 116,296 484,704 463,977 398,230 Medium Commercial Service 14,129 92,718 88,924 417,703 402,651 331,389 Large Commercial Service 12,999 93,968 118,327 797,052 870,886 853,230 Agricultural — 42 1,293 6,043 6,004 7,453
Street and Outdoor Lighting — — 38 1,452 1,515 1,477 Commercial Subtotal 42,113 298,346 324,878 1,706,954 1,745,033 1,591,779 Total Power Sales 42,276 446,566 558,393 2,140,495 2,982,021 2,887,727 Sales (Dollars in thousands)**
Residential $ 14 10,782 15,993 30,787 102,434 ^ 98,172
Commercial
Small Commercial Service 1,226 8,649 8,716 38,830 38,314 29,289 Medium Commercial Service 1,386 7,278 6,809 34,254 33,505 24,516 Large Commercial Service 1,109 6,860 8,611 62,595 67,963 58,170 Agricultural — 3 59 329 326 366
Street and Outdoor Lighting — — 3 113 105 91
Commercial Subtotal 3,721 22,790 24,198 136,121 140,213 112,432 Total Sales $ 3,735 33,572 40,191 166,908 242,647 210,604 Average Sale (in Dollars per Kilowatt hour)
Residential $ 0.08334 0.07274 0.06849 0.07101 0.08281 0.07575 Commercial
Small Commercial Service 0.08181 0.07749 0.07495 0.08011 0.08258 0.07355 Medium Commercial Service 0.09812 0.07850 0.07657 0.08201 0.08321 0.07398 Large Commercial Service 0.08530 0.07300 0.07277 0.07853 0.07804 0.06818 Agricultural — 0.06597 0.04563 0.05444 0.05430 0.04911 Street and Outdoor Lighting — — 0.07256 0.07782 0.06931 0.06161 Commercial Subtotal 0.08836 0.07639 0.07448 0.07974 0.08035 0.07063 Total Average Sales $ 0.08834 0.07518 0.07198 0.07798 0.08137 0.07293 Demographic & Economic Information
Historical CleanPowerSF Electric Sales
Fiscal Years Ended 2016 to 2021
Data not available - CleanPowerSF
launched in May 2016.

Photo by: Robin Scheswohl

Excavation for installation of lead-free, outdoor
water bottle refilling stations.

Operating Information

Budgeted Full-Time Equivalent (FTEs) Employees by Division

Operating and Capacity Indicators

Capacity Charge Revenues and Expenses

Major Water Wholesale, Retail and Sewer Customer Accounts by Revenue

Major Electric Retail and Wholesale Customer Accounts by Revenue

Performance Measures

Photo by: Robin Scheswohl

Southeast Water Pollution Control Plant.

Statistical Section

249 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Fiscal year 2014 and prior is known as BERM, acronym for Bureau of Environmental Regulation Management. ** Beginning fiscal year 2021, Hetchy Power positions are reported under Long Range Planning and Light, Heat, and Power. # AIC is acronym for Assurance and Internal Controls. Effective Feb 2019, AIC was realigned to two teams : 1. Audit and Compliance and 2. Strategy, Innovation and Change.
^ FTEs were added for Security in fiscal year 2011 and Enterprise Workforce Planning in fiscal year 2017. ~ AAO includes temporary positions and attrition.

Source: Annual Salary Ordinance.

Enterprises and Bureaus 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Water Enterprise
City Distribution & Water Administration 260 260 259 260 268 276 291 304 307 300 Natural Resources 71 81 81 82 82 84 85 86 87 89 Water Quality 78 76 76 76 81 82 83 85 85 85 Water Resources 26 25 25 24 24 23 23 23 23 22 Water Supply & Treatment 234 236 236 229 229 232 232 229 229 231 Total Water 669 678 677 671 684 697 714 727 731 727 Wastewater Enterprise
Administration 12 12 12 11 14 12 12 12 13 12 Source Control* & Wastewater Labs 66 66 66 66 66 65 66 59 60 59 Environmental Engineering 50 50 51 53 53 54 54 58 58 59 Maintenance 143 146 147 141 141 137 138 135 135 141 Bayside Operations 117 117 117 114 115 114 114 111 113 112 Planning & Regulation 43 43 43 47 47 46 47 46 46 32 Sewer Collection Operations 51 51 51 51 51 51 51 59 59 63 Total Wastewater 482 485 487 483 487 479 482 480 484 478 Hetch Hetchy Water and Power Enterprise
Hetchy Water
Water Project Operations 192 195 195 201 207 203 206 211 216 217 Hetchy Power**
Energy Services 29 30 30 30 30 29 30 27 28 — Long Range Planning & Light, Heat, and Power 53 53 53 51 51 52 52 54 54 109 Power Administration 23 23 23 23 23 20 21 21 21 — Subtotal Hetchy Power 105 106 106 104 104 101 103 102 103 109 Total Hetch Hetchy Water and Power 297 301 301 305 311 304 309 313 319 326 CleanPowerSF
Administration 9 11 13 19 26 Total CleanPowerSF 9 11 13 19 26 Bureaus
Business Services Admin, AIC#, and Financial
Services 69 70 70 71 71 73 73 73 73 72 Customer Services 106 106 106 106 106 103 103 104 104 103 Communications 22 22 22 22 22 22 22 21 21 21 General Manager and Others ^ 13 13 13 11 11 12 13 18 19 21 Strategic Planning, Real Estate Services, and
Community Benefits 17 17 18 18 18 18 18 17 17 22 Human Resource Services 55 57 57 58 59 58 58 58 58 62 Information Technology Services 73 74 74 78 78 78 78 78 78 79 Infrastructure 382 369 368 384 389 385 385 380 376 377 Total Bureaus 737 728 728 748 754 749 750 749 746 757 Total SFPUC annually budgeted positions 2,185 2,192 2,193 2,207 2,236 2,238 2,266 2,282 2,299 2,314 Annual Salary Ordinance Positions (AAO) ~ 2,396 2,404 2,404 2,430 2,456 2,473 2,493 2,542 2,557 2,599 Operating Information
Budgeted Full-Time Equivalent (FTEs) Employees by Division Fiscal Years Ended 2012 to 2021
Data not available - CleanPowerSF launched in May 2016. ~
Statistical Section

250 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* The increase in fiscal year 2012 included approximately 3.5 miles of pipe that was installed as part of the Mission Bay dev elopment project. ** In addition to t hese regional reservoirs, San Francisco Public Utilities Commission has In -city system storage capacity of 413 million gallons (value revised based on current reservoir storage operation limits).
*** The decrease in fiscal years 2014, 2018, 2020 and 2021 was due to a reduction in treating local reservoir water (Calaveras and San Antonio) in favor of increasing use of Hetchy Water which was not filtered at the plant. Increasing Hetchy Water use reduced treatment costs and conserved local supplies. ^ The increase in fiscal year 2016 included the suburban mains of 245.9 miles, upcountry mains of 229.5 miles and an increase of appr oximately 2.8 miles of pipe that was installed as part of the Mission Bay, Candlestick Point and Hunter’s View project. The decreas e in fiscal year 2017 is mainly related to Pilarcitos Aqueduct. ^^ Starting fiscal year 2016, water mains (miles) includes suburban. @ The Increase of water in the reservoir storage started in fiscal year 2019 due to the completion of the new Calaveras d am. # Consumption data updated from fiscal years 2012 to 2014 and 2020.

Source: Water Monthly Operating Report, Hetch Hetchy Capital Outlays Summary, Treatment Plant Influent Flow and Sewer Service Charge Calculation Reports.

Water 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Water mains (miles)^^ 1,240 1,240 1,240 1,240 1,718 1,717 1,718 1,719 1,719 1,719 Water main breaks repaired 74 113 116 97 136 102 133 168 142 161 New service installations 494 350 1,144 837 710 1,162 733 628 610 543 Meter installed and replaced 956 994 1,030 1,360 1,395 2,209 1,888 1,699 1,817 1,835 Responses to fire alarms 29 37 28 22 20 20 24 13 12 16
Production and Consumption (millions of gallons) #
Water production 81,252 79,935 80,582 69,553 64,454 68,995 73,330 71,272 75,034 73,767 Average daily production 222 219 221 191 176 189 201 195 205 202 Maximum daily production 298 302 300 255 242 283 272 275 277 274 Water consumption 77,390 78,695 79,453 69,306 61,932 63,706 69,344 67,319 69,934 68,812 Average daily consumption 211.7 215.6 217.7 189.9 169.2 174.6 190.0 184.5 190.1 188.6 Watershed area (acres)
Alameda 37,314 37,314 37,314 37,314 37,314 37,314 37,314 37,314 38,306 38,306 Peninsula 22,854 22,854 22,854 22,854 22,854 22,854 22,854 22,854 22,854 22,854 Total 60,168 60,168 60,168 60,168 60,168 60,168 60,168 60,168 61,160 61,160 Reservoir storage (millions of gallons)**
Calaveras@ 8,418 6,337 5,488 6,491 8,774 11,986 8,220 13,026 20,390 19,170 M Crystal Springs 15,486 17,191 16,707 17,380 17,103 17,385 16,192 17,015 16,940 16,711 Pilarcitos 784 864 815 767 783 872 773 838 849 622
San Andreas 4,968 5,622 5,603 5,626 5,786 5,935 5,587 5,483 5,381 5,123 San Antonio 15,395 13,456 13,579 14,433 14,927 14,576 13,263 14,835 14,434 14,917 Total 45,051 43,470 42,192 44,697 47,373 50,754 44,035 51,197 57,994 56,543 Treatment plant average capacity (millions of gallons)
Harry Tracy 22.1 26.0 21.2 29.3 35.9 45.3 33.2 38.0 34.7 31.7 Sunol Valley 29.1 22.3 10.0 16.9 27.0 39.6 16.5 26.1 11.1 6.9 Total 51.2 48.3 31.2 46.2 62.9 84.9 49.7 64.1 45.8 38.6 Operating Information
Water Operating & Capacity Indicators
Fiscal Years Ended 2012 to 2021
* ^
***
^
Statistical Section

251 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

@ Starting FY2020, sanitary sewers and Transport/storage sewers is Included in the Collection System pipes category, which incl udes combined storm and sanitary collection system pipes, sewer mains, transport/storage boxes, other storage structures, and tunne ls. *In addition to these regional reservoirs, San Francisco Public Utilities Commission has In -City System Storage Capacity of 413 million gallons (value revised based on current reservoir storage operation limits).
⌂ The decrease in fiscal year 2017 was mainly due to repair work at Lake Lloyd. ** The decrease in fiscal years 2014, 2015 and 2018 was mainly due to the dry year condition which resulted in less water ava ilable for hydroelectric generation. # Moccasin Low-Head was out of service in fiscal years 2015, 2017- 2021. ^ The increase in fiscal years 2016 and 2017 was due to higher precipitation and lower water bank.

Source: Wastewater Monthly Operating Report, Hetch Hetchy Capital Outlays Summary, Treatment Plant Influent Flow, and Sewer Service Charge Calculation Reports.

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Wastewater
Collection System pipes (miles)@ 1,123 1,125
Sanitary sewers (miles)@ 993 993 993 993 993 993 993 993 N/A N/A Transport/storage sewers (miles)@ 17 24 17 17 17 17 17 17 N/A N/A Sewer breaks repaired 550 927 861 1,663 1,520 1,481 912 819 810 531 Inspection performed (miles) 125 135 90 156 80 93 135 215 191 61 Sewer replaced (miles) 12.7 20.6 12.8 14.9 19.5 13.6 11.0 11.4 15.2 8.9 Responses to customer calls 9,951 7,124 8,697 16,190 10,863 8,260 8,410 7,885 8,510 6,779 Treatment plant/ facilities average daily flow
(millions of gallons per day)
Oceanside plant 18.4 16.5 15.4 15.6 16.0 18.4 15.3 16.5 14.5 13.9 North Point plant 2.4 4.8 3.1 4.7 7.1 11.8 2.7 4.2 1.1 0.9 Southeast plant 65.5 67.0 66.4 64.4 65.4 74.7 61.9 70.2 56.1 48.7 Yerba Buena & Treasure Island 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.3 0.3 Total 86.6 88.6 85.2 85.0 88.8 105.2 80.2 91.3 72.1 63.8 Hetchy Water
Watershed area (square miles)
Hetch Hetchy 459 459 459 459 459 459 459 459 459 459
Lake Eleanor 79 79 79 79 79 79 79 79 79 79
Lake Lloyd (Cherry) 114 114 114 114 114 114 114 114 114 114 Total 652 652 652 652 652 652 652 652 652 652
Reservoir storage (millions of gallons)*
Hetch Hetchy 113,973 117,359 114,354 110,745 117,424 111,755 117,231 113,020 116,653 101,808 Lake Eleanor 7,428 7,671 7,731 7,731 8,677 7,610 8,186 8,677 8,398 8,429 Lake Lloyd (Cherry) 86,962 85,358 72,627 64,025 88,478 77,951 83,067 87,829 86,332 82,150 Total 208,363 210,388 194,712 182,501 214,579 197,316 208,484 209,526 211,383 192,387 Hetchy Power
Hydroelectric generation (megawatt hours)
Holm 529,520 533,719 382,689 436,499 654,952 919,492 431,659 508,060 538,201 339,180 Kirkwood 461,569 440,950 318,379 283,922 528,724 482,996 510,888 401,779 422,278 328,410 Moccasin 326,535 327,054 320,577 255,778 338,005 319,691 356,004 295,766 325,194 304,325 Moccasin Low-Head # 3,442 2,775 22 — 1,359 — — — — —
Total 1,321,066 1,304,498 1,021,667 976,199 1,523,040 1,722,179 1,298,551 1,205,605 1,285,673 971,915 Operating Information
Wastewater, Hetchy Water and Hetchy Power Operating & Capacity Indicators Fiscal Years Ended 2012 to 2021
⌂
**** ^^ **
Data not available FY2019 and prior
Statistical Section

252 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

Data provided meets Government Code, Section 66013, https://leginfo.legislature.ca.gov. * Fiscal year 2021 is first year of presentation.

Source: San Francisco Public Utilities Commission Water Sewer System.

Operating Information
Water and Wastewater Capacity Charge Revenues & Expenses Fiscal Year Ended 2021
(Dollars in Thousands)
2021
Percent of Total
Project Annual
Spending
2022
Expense
Budget
Water
Beginning Balance $ 6,584
Revenues 1,315
Capacity Charges 1,326
Interest Earnings (11)
Expenses 663
Local Water Conveyance/Distribution 274 15.0% 362 Pipeline Replacement 389 1.0% 2,756
Ending Balance $ 7,236
Wastewater
Beginning Balance $ 13,713
Revenues 3,703
Capacity Charges 3,710
Interest Earnings (7)
Expenses 1,631
Collection System Renewal & Replacement 1,631 6.2% 10,365 Treatment Facilities Renewal & Replacement — 0.0% 21
Ending Balance $ 15,785
*
Statistical Section

253 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

N/A - No sales in the fiscal year or data not available Highlighted data were not part of major customers for the fiscal year.

Source: San Francisco Public Utilities Commission Water Sewer System and Customer Care and Billing System.

Customer Type 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Water Wholesale Customers
California Water Service Company $ 42,512 47,655 47,436 46,911 48,792 57,541 63,489 60,859 66,944 67,781 Hayward Municipal Water System 20,176 21,475 21,193 21,475 21,475 28,613 32,316 31,103 31,518 32,130 City of Palo Alto 14,761 16,389 15,855 15,743 16,946 19,975 21,985 21,134 21,773 21,705 City of Sunnyvale 11,573 13,767 12,201 12,885 15,600 17,810 21,265 19,800 21,029 21,460 Alameda County Water District 10,732 13,274 16,141 13,213 13,847 14,366 16,947 16,849 17,609 21,089 City of Redwood City 11,763 13,488 12,847 13,151 14,661 17,169 18,781 18,190 19,408 18,948 City of Mountain View 11,187 13,059 12,691 12,407 13,750 15,340 16,791 16,248 16,790 17,415 City of Daly City N/A N/A 5,133 5,571 8,804 12,555 13,076 12,642 12,642 12,288 City of Milpitas 7,953 9,267 9,311 8,612 9,389 10,722 11,509 11,494 13,284 11,897 Estero Municipal Improvement District N/A N/A 5,709 6,384 7,216 9,307 9,475 9,015 9,576 9,470 Water Retail Customers
San Francisco International Airport 2,748 2,938 3,046 3,095 3,220 3,907 4,452 4,880 4,748 3,685 NASA Shared Services Center (NSSC) 1,341 1,548 1,551 1,484 1,347 1,741 2,514 2,243 2,481 2,924 Lawrence Livermore National Laboratory N/A N/A N/A N/A 1,836 211 631 133 N/A 2,636 Recreation & Parks Department N/A N/A N/A 878 578 1,393 1,397 1,353 2,679 2,481 University of California, San Francisco 1,331 1,318 1,364 1,100 1,435 1,534 1,689 1,694 2,185 2,304 Parkmerced Investors Properties, LLC 976 1,082 1,311 1,393 1,449 1,678 1,840 2,088 2,372 1,878 The Presidio N/A N/A 376 505 272 367 756 566 1,273 1,840 Golden Gate National Cemetery N/A N/A N/A 649 839 836 946 900 1,320 1,557 Public Health Department 526 624 628 672 808 1,040 1,168 1,157 1,318 1,223 Menlo Country Club N/A N/A N/A 639 785 785 833 786 951 1,012 Sewer Retail Customers
University of California, San Francisco 2,564 2,120 2,078 1,882 2,266 2,068 2,360 2,414 2,852 3,068 Parkmerced Investors Properties, LLC 1,860 1,921 2,281 2,326 2,248 2,493 2,790 3,098 3,477 2,779 Public Health Department 897 941 897 647 1,041 1,334 1,547 1,461 1,635 1,513 Bayside Village N/A N/A 315 325 477 461 525 569 641 701 NRG Energy Center San Francisco 822 819 779 782 874 926 970 1,043 889 653 1169 Market 674 701 671 607 579 640 743 694 614 651 Recreation & Parks Department N/A N/A 566 308 332 391 431 418 482 574 1231 Market Street Owner LP N/A N/A N/A N/A N/A N/A N/A N/A 298 523 Infinity Owners Association N/A N/A 197 167 176 196 218 277 462 520 San Francisco State University N/A N/A 601 601 618 648 860 810 803 496 Operating Information
Major Water and Sewer Customer Accounts by Revenue
Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
Statistical Section

254 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

* Reflects reduced power generation and power available for sale. ** Updated to reflect latest data.
# WSPP includes only energy sales.

N/A - No sales in the fiscal year or data not available.

Highlighted data were not part of major customers.

Source: San Francisco Public Utilities Commission Power Enterprise Billing System and Customer To Meter Billing System.

Customer Type 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Retail Customers
San Francisco International Airport $ 33,659 33,244 39,199 41,614 42,687 43,070 43,434 44,574 46,248 41,626 SFPUC - Wastewater Enterprise 8,388 8,180 8,861 9,748 9,847 10,397 9,979 10,687 10,531 10,522 SFPUC - Water Enterprise 7,250 8,009 8,582 8,640 7,954 8,950 8,592 9,369 9,831 10,130 Administrative Services Agency 2,100 2,508 3,025 4,386 5,419 5,442 5,743 9,739 9,919 8,707 Municipal Transportation Agency 4,387 4,805 5,403 6,466 7,631 8,193 8,594 8,249 7,758 6,353 Department of Public Health 2,058 983 1,319 1,878 2,842 3,125 3,470 4,837 5,228 5,723 San Francisco Unified School District 1,294 1,444 1,588 1,864 2,214 2,285 2,394 2,252 2,193 1,929 Port of San Francisco 1,229 1,369 1,563 1,971 1,941 1,983 2,294 2,236 2,061 1,639 San Francisco Public Library** N/A N/A 703 773 860 887 1,340 1,679 1,682 1,601 City-owned Parking Garages 1,618 1,689 1,780 1,876 1,910 1,924 1,960 1,857 1,524 1,368 Wholesale Customers
CleanPowerSF - - - 367 1,893 3,501 3,026 339 2,456 Western Systems Power Pool# 3,817 5,143 127 N/A 50 237 668 N/A 2,780 1 Modesto Irrigation District 2,718 2,283 1,879 2,666 6,345 8,003 2,422 N/A N/A N/A Turlock Irrigation District 4,622 5,100 3,263 3,331 8,615 387 N/A N/A N/A N/A Operating Information
Major Electric Retail and Wholesale Customer Accounts by Revenue Fiscal Years Ended 2012 to 2021
(Dollars in Thousands)
*
*
Data not available - CleanPowerSF launched in May 2016. *
$0
$15,000
$30,000
$45,000
$60,000
$75,000
$90,000
$105,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Dollars in Thousands
Fiscal Year
Electric Retail and Wholesale Revenue
Retail
Turlock Irrigation District and Modesto Irrigation District Western Systems Power Pool
CleanPowerSF
Statistical Section

255 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2021

Due to COVID-19, many normal data gathering and hiring procedures was limited or required changes. Therefore the Target, Projection and Ac tual data are presented the best that can be gathered or due to budget impact, projection numbers were reduced from or iginal target numbers.

Source: Agency Strategic Plan

Target Projection Actual

1. Reliable Service and Assets
Number of dry weather main sewer overflows per 100 miles of main sewer <3 2.8 1.6 Percent of in-city service connections without water for more than 4 hours due to an unplanned outage 0.10% 0.50% 0.12%
Percent of streetlight outages complying with 48-hour SFPUC response goal; complex streetlights evaluated 80.0% 100.0% 100.0%
System renewal and replacement rates for in-City water distribution mains 11.5 miles 11.5 miles 8.4 miles System renewal and replacement rates for Wastewater pipelines 15miles/year

1.6% 13.2 miles 6.5 miles

2. Organizational Excellence
Number of employees over the maximum permissible overtime threshold (25% of straight time) 0.0 0.0 9.0

3. Effective Workforce
Number of promotions 129 114 61
Time to hire (days) 150 233 173

4. Financial Sustainability
Average residential Power bill as a percent of median income in San Francisco 0.54% 0.65% 0.69%
Average residential Wastewater bill as a percent of median income in San Francisco 0.79% 0.80% 0.80%
Average residential Water bill as a percent of median income in San Francisco 0.66% 0.66% 0.66%
Operating cost coverage (total operational revenues/total operating costs) for Power 1.01 1.06 1.04
Operating cost coverage (total operational revenues/total operating costs) for Wastewater 1.93 1.27 1.23
Operating cost coverage (total operational revenues/total operating costs) for Water 1.91 1.92 1.92
Power debt service coverage - Indentured Coverage 1.35x N/A 13.31 Wastewater debt service coverage - Indentured Coverage 1.35x N/A 3.73 Water debt service coverage - Indentured Coverage 1.35x N/A 1.88

5. Stakeholder and Community Interest
Number of adults and children who have participated in transformative engagement through SFPUC sponsored education programs 4,000 4,600 5,353 Percent of eligible customers enrolled in California Alternate Rates for Energy (CARE) for CleanPowerSF Customers 90.0% 85% 86%
Percent of Eligible electric customers receiving low-income discount rate 75.0% 90.0% 99.0% Percent of eligible households enrolled in Community Assistance Program (CAP) 4.32% 4.84% 4.84% Percent of retail customers rating the SFPUC as "good" or better on a customer survey 90.0% 90.0% 90.0%

6. Environmental Stewardship
Average water used by San Francisco residential customers (Gallons Per Capita Per Day - gpcd) 50.0 44.1 42.6
Gallons of stormwater removed annually from the combined sewer system by green infrastructure 89 million gallons 93 million gallons 96 million gallons Percent of biogas going to beneficial uses - Oceanside Plant N/A Percent of biogas going to beneficial uses - Southeast Plant 40.0% 55.0% 47.0% Percent of CleanPowerSF customer account retention rate 96.0% 95.0% 95.9% Percent of water supplied by alternative sources to system as a whole 3.40% 3.30% 3.90% Operating Information
Performance Measures
Fiscal Year 2021
Currently plant is in major upgrade and is
scheduled to be completed in 2022
To provide our customers with high-quality,
efficient and reliable water, power and
sewer services in a manner that values
environmental and community interests
and sustains the resources entrusted to
our care.

Our mission
Cover photo: Lower Crystal Springs Dam Bridge
Back photo: Ocean Beach Climate Change Adaptation Project Photo by: Robin Scheswohl
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Communications Division
Date of Publication: February 2022

Financial Services
525 Golden Gate Avenue, 4th Floor
San Francisco, CA 94102-3220
sfpuc.org

Respond
Recoverand
Reimagine
Popular Annual
Financial Report
for the Fiscal
Year Ended
June 30, 2021

Message from Our General Manager
Dear Customers and Stakeholders,
Despite the far-reaching impacts of the
coronavirus pandemic in the past fiscal year,
the SFPUC continued to provide our customers
with high-quality, reliable water, power, and
wastewater services 24 hours a day, seven days
a week. We activated a business continuity plan
at the outset of the pandemic to help the agency
respond to the impacts of the pandemic, take
steps to recover, and reimagine how we continue
to deliver reliable water, power and wastewater
services in a post-pandemic future.

Many of our staff were deployed as Disaster
Service Workers to support COVID response
efforts. During fiscal year 2020-21, the SFPUC
provided 194 deployments to the City of San
Francisco’s COVID Command Center. One
hundred and thirty employees served within
the City’s Covid Command Center, a critically
important coordination point for agency resources
to support emergencies.

SFPUC assets were also reassigned to support
the city’s overall response. Every Enterprise within
our agency played a role in responding and
recovering from the pandemic, and in reimagining
how we will serve our customers in the future.

The Water Enterprise deployed temporary
emergency manifolds for some of San Francisco’s
most vulnerable populations. To fulfill longer-term
needs, the SFPUC worked with many agencies
to identify and assess sites before installing
permanent drink tap stations in San Francisco,
and this work is ongoing. When there was a global
supply chain shortage during the early days of
the pandemic, the Water Quality team produced
hand sanitizer. It also produced a disinfectant
that reduced both paper towel use and the time
needed to disinfect the facility.

The Power Enterprise made great strides in
reimagining the customer experience. Hetch
Hetchy Power launched a new billing system
and an updated online portal for customers.

The first ‘solar plus battery’ storage project was
completed, promoting resiliency in the power grid
and serving as a model for future installations.

CleanPowerSF continued to make progress on its
plan to provide affordable 100% renewable energy
to all customers by 2025 – five years ahead of
schedule. Importantly, the SFPUC continued its
efforts to expand public power service in San
Francisco, which will help deliver safe, reliable,
clean power to new and existing customers.

Through Hetch Hetchy Power, the SFPUC helped
the City respond and recover from the financial
challenges of the COVID-19 pandemic by saving
its municipal customers a projected $37 million
in 2020 compared to the alternative offered by
Pacific Gas & Electric. The SFPUC also provided
Dennis J. Herrera, SFPUC General Manager
San Francisco Public Utilities Commission
(as of date of publication)
Anson Moran, President So phie Maxwell, Commissioner Newsha Ajami, Vice President Tim P
aulson, Commissioner
Annual Report for the Fiscal Year Ended June 30, 202101

a 30 percent discount to qualifying Hetch Hetchy
Power residential customers through the SFPUC’s
Emergency Community Assistance Program.

The Wastewater Enterprise continued to sample
for SARS-CoV-2 fragments in wastewater,
collaborating with the University of California,
Berkeley and Stanford University. This work will
contribute to the expanding field of wastewater
epidemiology that will inform the use of these
methods at the state and federal level.

In addition to providing customer assistance and
bill relief programs, the SFPUC supported San
Francisco’s COVID-19 response by activating the
Southeast Community Facility at 1800 Oakdale
as a vaccination and testing site. More than 7,000
community members have received COVID
vaccinations, testing, and social support services
at the facility.

By prioritizing the ongoing maintenance and
upgrades of our water, wastewater, and power
infrastructure including the multi-billion-dollar,
citywide Sewer System Improvement Program,
the SFPUC supported financial resilience and
economic recovery. We offered job training and
contracting opportunities to the local community,
kept people working, and made steady progress
on improving our system. We continue to prioritize
hiring local workers and apprentices to further
support the communities we serve during these
challenging times.

The SFPUC also continues to support the
community in other ways. We broke ground on
a 40,000-square-foot, state-of-the-art community
center at 1550 Evans Avenue, which is being
designed to be a hub for the local community
to gather, learn, play, and grow.

Remote working was implemented Citywide
in March 2020. To ensure operations could
continue without disruption or interruption, the
SFPUC analyzed resource needs, the distribution
of remote work equipment, and other support
our employees needed. As we work to recover
from the pandemic, and return employees to the
workplace, the SFPUC is reimagining the future
of work.

We may not know what the future of work will
look like, but we are examining various options,
including those that could look very different than
pre-pandemic. Regardless of how this will look,
the health and safety of our employees will remain
a top priority so we can continue to provide our
customers with reliable, high-quality water, power,
and wastewater services 24/7.

On behalf of the SFPUC, I am pleased to present
the Popular Annual Financial Report for Fiscal
Year 2020–21.

Water
We are the third largest
municipal utility in California,
serving 2.7 million residential,
commercial, and industrial
customers in the Bay Area.

Approximately one-third of the
water we provide is delivered
to retail customers in San
Francisco. The remaining
two-thirds serves 26 wholesale
agencies in Alameda, Santa
Clara, and San Mateo Counties.

Power
For 100 years, we have been
generating greenhouse gas-free
hydropower as our city’s full-
service, publicly owned electric
utility. In 2016, we launched
CleanPowerSF, a community
choice aggregation program, to
introduce even more renewable
energy from sources like wind
and solar to the electric grid.

Collectively, the two systems
meet more than 70 percent
of the electricity demand in
San Francisco.

Sewer
We operate and maintain the
City's water pollution control
plants, pumping stations
and collection system to
protect public health and the
environment. We maintain
1,900 miles of sewer mains
and lateral and 27 pump stations
that collect sewage and storm
water, moving the wastewater
to the three treatment plants
for treatment and discharge
to the San Francisco Bay and
Pacific Ocean.

Annual Report for the Fiscal Year Ended June 30, 2021 02 Ensuring Access to
Water During the
Pandemic
Installation of lead-free, outdoor water bottle
refilling stations (“tap stations”) at 1850
Mission Street between 14th and 15th Street.
03 Annual Report for the Fiscal Year Ended June 30, 2021 04 Temporary Emergency
Manifolds
The public health crisis precipitated by the
pandemic highlighted the critical importance of
ensuring access to water to support the safety
and well-being of our most vulnerable populations.

As facilities providing traditional support services
closed, unsheltered residents in the Tenderloin
district of San Francisco needed reliable access
to clean drinking water.

Our agency immediately deployed emergency
water manifolds and staff to provide access to
drinking water in the Tenderloin neighborhood
and then extended the program to the Mission
and Bayview neighborhoods. In partnership with
the San Francisco Department of Public Works
(SFDPW), the SFPUC co-located water manifolds
with the SFDPW’s Pit Stop Program locations
offering public toilets. The SFPUC also continuted
to monitor and sanitize the manifolds.

Many San Francisco agencies and community
partners identified additional locations that were
later approved by the Emergency Operations
Center to address the needs arising from
the COVID-19 pandemic. These agencies included
the Human Services Agency, the Department of
Homelessness and Supportive Housing, SFDPW,
and the City Distribution Division. Concurrently, the
SFPUC and SFDPW worked with community
organizations to distribute approximately 4,400
reusable water bladders to unsheltered individuals.

Permanent Drink Tap Stations
Because water manifolds only provided a
temporary solution to a longer-term need, the
SFPUC identified and assessed sites
for drink tap stations. By late November 2020,
12 permanent drink tap stations were installed
to increase water access throughout the City.

As the installations were completed, the
emergency manifolds were demobilized.

Ongoing Work
The SFPUC continues to coordinate with the city’s
Emergency Operations Center to provide
equipment and staff to ensure water access.

Locations include pit stops in the Mission and
Bernal Heights neighborhoods, as well as in
the Tenderloin, Candlestick Point Park, and the
Bayview neighborhoods. Through a partnership
with the San Francisco Coalition on Homelessness,
additional drink tap stations are being installed in
the Tenderloin.

Funding options are being developed to support a
two-year pilot tap station program, and the SFPUC
aims to install three new drink tap stations a year.

Ensuring Water Quality
and More
Leading up to and through the pandemic, the
Water Quality Division continued to monitor the
safety of regional water supply to ensure that all
regulatory requirements were met. By managing
the mix of telecommuting and onsite staff, and
implementing onsite safety measures such as
health screenings, disinfections, and distribution
of personal protective equipment, the Water Quality
team was able to meet its annual goals without
experiencing a single case of COVID-19.

Hand Sanitizer and Disinfectant Production
The Water Quality team took three innovative
actions as it transitioned through the respond,
recover, and reimagine phases of the SFPUC’s
business continuity efforts. During the early months
of the pandemic, when there was a global supply
chain shortage, the team produced hand sanitizer
in the Millbrae Drinking Water Laboratory.

Laboratory chemists created the sanitizer using
raw chemicals procured and maintained in their
facilities. Shortly after, the same method was used
to produce a food-grade ethyl alcohol-based
surface disinfectant that was effective against
COVID-19 and evaporated naturally. This approach
reduced personnel labor hours required to disinfect
the facility by half, while also reducing the use of
paper towels. New personal protective equipment
and supplies were widely distributed throughout
the SFPUC.

Annual Report for the Fiscal Year Ended June 30, 2021
Delivering a Clean
Energy Future for Our
Customers Today
05 Annual Report for the Fiscal Year Ended June 30, 2021 Hetch Hetchy Power and CleanPowerSF continue
to reimagine the customer experience and clean
energy future of San Francisco.

Hetch Hetchy Power launched a new, modern
billing system providing customers more timely
and consistent billing and an updated online
portal to facilitate customer payments while saving
paper. The first ‘solar plus battery storage’ project
was completed at the San Francisco Police
Academy in Diamond Heights, promoting
resiliency in the power grid and serving as a
model for future installations. Hetch Hetchy Power
also completed critical milestones on the Bay
Corridor Transmission and Distribution project that
will deliver a high voltage transmission and
distribution system along San Francisco’s eastern
waterfront and provide clean energy to existing
and future customers through the agency’s own
infrastructure.

CleanPowerSF continued to make progress on its
plan to provide affordable 100% renewable energy
to all customers by 2025 – five years ahead of
schedule. The program has entered into power
purchase agreements with new wind and solar
projects in California that will provide enough
electricity by committing to several new wind
and solar projects in California to provide enough
electricity to power the equivalent of over 430,000
average San Francisco homes. CleanPowerSF
also began developing two new programs to
provide qualifying low-income customers 100%
renewable energy at discounted rates to help
ensure all San Franciscans have access to
affordable, clean energy.

In January 2021, the SFPUC reduced
CleanPowerSF rates to absorb a significant
change to the fees PG&E charges customers
of community choice aggregation programs,
like CleanPowerSF. The 16% reduction in
CleanPowerSF’s rates softened the impact of this
increase in PG&E’s fees, which happened in the
middle of the City’s winter COVID-19 surge. The
SFPUC utilized CleanPowerSF’s rate stabilization
reserve to balance its costs for the fiscal year and
it initiated a series of rate actions to gradually
bring CleanPowerSF’s rates back to the cost of
service and replenish the program’s financial
reserves. The SFPUC is conducting a cost of
service study for CleanPowerSF and Hetch
Hetchy Power and plans to set new rates in
fiscal year 2022-23.

Finally, the SFPUC continued its efforts to expand
public power service in San Francisco, which
would help deliver safe, reliable, clean power
to new and existing customers. The agency
submitted a petition to the California Public Utilities Commission asking that a value be placed on
PG&E’s infrastructure in San Francisco. This a
critical step in moving the municipal acquisition
conversation forward and reimagining the future
of electricity service in San Francisco.
06 Redevelopment Field Tour (Power Enterprise) of the Bay Corridor Transmission & Distribution (BCTD) project with SFPUC staff.

Annual Report for the Fiscal Year Ended June 30, 2021
Protecting Public
Health Through
Wastewater Monitoring
07 Annual Report for the Fiscal Year Ended June 30, 2021 Monitoring for SARS-CoV-2
Starting in March of 2020, as the agency and
the country worked to respond to the COVID-19
pandemic, the SFPUC began collaborating with
research institutions in the San Francisco Bay
Area working to identify fragments of SARS-CoV-2
genetic material in wastewater. The SFPUC has
been providing researchers with wastewater
samples for analysis of COVID-19 gene fragments.

Although SARS-CoV-2 is inactive and not
transmissible in wastewater, it is possible to
track case load trends in a sewer service area
by quantifying the amount of SARS-CoV-2 gene
fragments (RNA remnants) present in wastewater.

By the fall of 2020, the SFPUC and their research
partners had set up a robust monitoring program
which, at its peak, was providing 25 samples a
week from multiple locations in the sewer system
including a large nursing facility. The monitoring
continues to present day and provides data
to local, state and federal health officials on
infection trends.

The SFPUC’s Wastewater Enterprise Field
Monitoring Services group was able to leverage
expertise of its personnel and resource equipment
normally used for ensuring permit compliance, to
that of a new critical role focused on wastewater-
based epidemiology. The core function of the
SFPUC’s Wastewater Enterprise is to protect
the health of the community and environment
through the proper management of wastewater.

The adaptability of the Field Monitoring Services
group allowed the Wastewater Enterprise to help
researchers rethink how wastewater can inform
public health and ultimately protect the health
of the communities the agency serves.
08 The SFPUC’s Field Monitoring Services group setting
up equipment to sample wastewater.

Annual Report for the Fiscal Year Ended June 30, 2021
Serving our
Communities and
Supporting Financial
Recovery
09 Annual Report for the Fiscal Year Ended June 30, 2021 Construction of the new Southeast Community Center (SECC) at 1550 Evans Avenue, a hub for the local community to gather, learn, play, and grow.

Supporting COVID-19
Response With Vaccination
and Testing
The Southeast Community Facility (SECF) is
an asset owned by the City, and operated and
maintained by SFPUC’s Wastewater Enterprise
for the benefit of the Bayview Hunters Point
community. These facilities were constructed
for the purpose of mitigating the adverse
environmental and social impacts of constructing
the Southeast Water Pollution Control Plant
expansion projects during the 1970’s and 1980’s.

The 7-member SECF Commission provides advice
and recommendation on center operations and
other relevant to the community. Over the past
40 years, thousands of community residents have
looked to the SECF for resources to support their
personal educational, health and wellness,
childcare, and career objectives.

During the pandemic, the SECF was activated
to support business continuity and a Citywide
COVID response. To date, more than 7,000
community members have received COVID
vaccinations, testing, and social support services
at the facility.

SFPUC broke ground on the construction of the
new Southeast Community Center (SECC) at
1550 Evans Avenue. This $110 million investment
will provide the Bayview-Hunters Point community
with a new 40,000-square-foot, state-of-the-art
community center that features beautiful event
venues, affordable child care, office and
programming space for non-profits, an onsite
café and two acres of green space for community
members to enjoy.

The SECC will be a hub for the local community
to gather, learn, play, and grow, and serves as a
connection between the community and SFPUC.

The center will enrich its community by promoting
the health and wellbeing, and cultural, political,
educational, and financial empowerment of
Bayview-Hunters Point residents.

Emergency Customer
Assistance and Bill
Relief Programs
From the onset of the pandemic, the SFPUC
embarked on a series of bill relief programs
to support its customers. We recognize the
financially devastating impact the COVID-19
pandemic has on the most vulnerable populations,
and rolled out emergency assistance programs for
water, power and wastewater customers.

In May 2020, the SFPUC launched its Emergency
Residential Customer Assistance Program for
residential customers who were financially
impacted as a result of COVID-19. Those with
a pre-pandemic maximum household income
under 200% of the San Francisco Area Median
Income were eligible. The initiative offered utility
discounts of 35% for sewer bills, 30% for Hetch
Hetchy Power and CleanPowerSF bills and 15%
for water bills to eligible customers. The program
originally scheduled to end in Fall 2021, has
been subsequently extended through the end
of March 2022.

In July 2020, the SFPUC launched its Emergency
Nonprofit and Small Business Assistance Program
offering 20 percent discounts on sewer and water
bills for small businesses and non-profits with
10 Annual Report for the Fiscal Year Ended June 30, 2021 fewer than, 50 employees) that lost income as a
result of the pandemic and shelter-in-place orders.

The program has also been extended through
March 2022.

The Emergency Residential and Small Business
Assistance Programs have provided discounts
totaling $4.6 million to customers through the end
of fiscal year 2020-21. Although the SFPUC has
extended these emergency assistance programs
as a short-term solution to the financial difficulties
associated with the COVID-19 crisis, the agency is
working to ensure its customers can benefit from
new emergency assistance programs funded by
state and federal dollars. The SFPUC is currently
advocating at the federal level for long-term
funding solutions to address affordability issues
facing our customers.

CleanPowerSF provided a one-time bill credit to
eligible customers in October 2020. The relief
program offered credits of $50 for single-family
homes, $3,000 for multi-family residential
buildings and $750 for nonprofit or small
commercial accounts—the equivalent to a month’s
worth of savings on the average customer’s
electricity bill. This initiative, part of a campaign to increase enrollment in low-income rate programs
for electricity service, provided over $2.8 million in
discounts to over 50,000 CleanPowerSF customers.

Helping the City Respond
and Recover from
Financial Challenges
For over 100 years, we have generated
greenhouse gas-free Hetch Hetchy Power to
energize vital municipal services like City Hall, the
San Francisco International Airport, public schools
and libraries, as well as redeveloped areas like
The Shipyard, affordable housing, and specific
private developments. Additionally, the SFPUC
owns and maintains approximately 25,000 or
60% of streetlights in the City.

Hetch Hetchy Power helped the City respond and
recover from the financial challenges of the
COVID-19 pandemic by saving its municipal
customers a projected $37 million in Calendar
Year 2020 compared to the alternative offered
by Pacific Gas & Electric (PG&E). In addition to
providing much-needed bill relief to municipal
customers, the public utility provided a 30%
discount to qualifying Hetch Hetchy Power
residential customers through the SFPUC’s
Emergency Community Assistance Program.

Concurrently with the pandemic response, Hetch
Hetchy Power continued to reimagine our publicly
owned utility through a series of successful
11 Annual Report for the Fiscal Year Ended June 30, 2021 12 projects. One such project was the completion of
our first solar plus storage installation at the San
Francisco Police Department Academy in Diamond
Heights. This new installation includes a storage
component to build resiliency in our power grid.

The project is located atop a carport and has
157kW of generating capacity, which is the site’s
typical daily energy use in the summertime, and
99kW/464kWh of battery storage capacity.

Hetch Hetchy Power’s new billing system also went
live in fiscal year 2021. Customers will notice more
timely and consistent billing, a new paper-saving
bill design, and an updated web portal. Those with
multiple meters at the same location will be able
to view consolidated accounts. The new billing
system also has greater functionality for supporting
our rate tariffs and programs and will support new
features to be rolled out in the future.

Finally, Hetch Hetchy Power partnered with the San
Francisco Recreation and Parks Department to
purchase and install over 400 light-emitting diodes
(LEDs) for historic fixtures in Golden Gate Park.

The warmer white light will better illuminate paths
for visitors who enjoy the City’s parks. On average,
the LEDs consume 50% less energy than standard
lightbulbs, resulting in an annual savings of
172,000 kilowatt-hours of energy for the Recreation
and Parks Department.

Capital Projects: Supporting
Financial Resilience and
Economic Recovery
We prioritize the ongoing maintenance and
upgrades of our water, wastewater, and power
infrastructure so we can continue to provide high
quality services to our customers despite the
challenges posed by the ongoing pandemic.

The SFPUC reached major milestones in all
of the three programs for major water asset
improvement projects.
• Our Water System Improvement Program is
99% complete. The Alameda Creek Recapture
Project began construction this fiscal year,
and crews began start up testing of four new
Regional Groundwater Storage and Recovery
Project Wells.
• As part of the Water Enterprise Capital
Improvement Program, construction
of the Alameda Creek Watershed Center
continued to make progress. Within San
Francisco, crews replaced 8.5 miles of
aging water transmission pipeline.
• Major construction began on the Hetch Hetchy
Capital Improvement Program’s Mountain Tunnel
Improvements Project this year.

Annual Report for the Fiscal Year Ended June 30, 2021
Single-Family Residential FY 2020-21
Monthly Usage (ccf).................... 5.40
Average Monthly . ...................... $138.49
Cost per Person/Day ................... $1.96
Total Cost per Gallon ................... $0.034
Total Combined Bill as % of San
Francisco Median Household Income .... 1.48%
Keeping Our Water
Rates Affordable
Credit Ratings ............ 2021 2020 2019
Water
S t a n d a r d & P o o r ’ s ............AA- AA- AA- Moody’ s Investors Service..... Aa2 Aa2 Aa3
Average Borrowing Rate*...... 3.29% 3.48% 3.63%
Power
F i t c h ......................... AA- AA- AA-
S t a n d a r d & P o o r ’ s ............AA AA AA
Average Borrowing Rate*...... 3.59% 3.49% 3.44%
Sewer
S t a n d a r d & P o o r ’ s ............AA AA AA
Moody’s Investors Service . . . . Aa2 Aa2 Aa3
Average Borrowing Rate*...... 3.42% 3.42% 3.37%
CleanPowerSF
Moody’s Investors Service . . . . A2 N/A N/A
The SFPUC’s high credit ratings help to reduce
borrowing costs.
*Average Borrowing Rate: Weighted average interest rate on outstanding bonds as of 6/30/21.

Government Finance Officers Association

Award for
Outstanding
Achievement in
Popular Annual
Financial Reporting

Presented to
San Francisco Public Utilities Commission
California
for the Fiscal Year Ended

June 30, 2020
Executive Director/CEO

This award recognizes our commitment to increase
public awareness by providing an overview of
our financial condition. The financial information
for this report is drawn from the audited financial
statements in the SFPUC’s Fiscal Year 2021
Annual Comprehensive Financial Report (ACFR),
using the full accrual basis of accounting and
providing complete financial information and
disclosures in conformance with generally
accepted accounting principles (GAAP). The PAFR
is not audited and is presented on a non-GAAP
basis as note disclosures have been excluded in
the report. Our ACFR, which provides complete
financial information and disclosures in
conformance with GAAP, is available online at
sfpuc.org/about-us/reports.

The Comparative Consolidated Net Position
provide information about the nature and amount of
resources and obligations at a specific point in time.

SFPUC continued to reflect a strong and healthy
financial condition over the last several fiscal years.

Investments in capital assets constituted 83% of our
net position and represented the amount by which
the carrying value of capital assets exceeds capital-
related debt, which comprises the outstanding
Financial
Performance
Since 2010, this report has won the prestigious
“Award for Outstanding Achievement in Popular
Annual Financial Reporting” from the Government
Finance Officers Association.

Calculation is based on the average monthly water usage 13 Annual Report for the Fiscal Year Ended June 30, 2021 balances of any bonds, commercial paper, notes,
or other borrowings that are attributable to the
acquisition, construction, or improvement of those
assets. For FY2021, SFPUC net position increased
by 1% or $34M as compared to FY2020, mainly
due to increase in net investment in capital assets
and restricted for debt services.

There are five components in the Statement of
Net Position, which is intended to present what
the entity owns (assets), owes (liabilities) and its
residual or net position.

1. Ass
ets are resources with present service
capacity that the government presently
owns or controls.

2. De
ferred outflow of resources is a consumption
of net assets by the government that is
applicable to a future reporting period—for
example, amortization of refunding loss to
future periods.

3. Li
abilities are present obligations to sacrifice
resources that the government has little or no
discretion to avoid, such as debts owed, and
represent claims against assets.

4. De
ferred inflow of resources is an acquisition of
net assets by the government that is applicable
to a future reporting period—for example,
amortization of net difference in pension
projected verses actual earnings.

5. Ne
t position is the residual of all other elements
presented in a Statement of Net Position, i.e., the
residual interest in the items owned or controlled
after deducting debts. Over time, increases or
decreases in net position may serve as a useful
indicator of whether the financial position is
improving or worsening.

The Comparative Revenues and Expenses
reflected continued revenue growth. SFPUC strives to
achieve strong financial performance and effectively
controls its operating costs to not exceed revenues.

The decrease in total revenues, transfers in and
capital contributions by $111M is mainly due to
$61M prior year one time gain from property transfer,
$44M lower billings due to COVID-19 emergency
proclamation issued by the City’s Mayor suspending
collection of past due accounts, and $33M from
lower interest income. The total decrease is offset
by $23M transfer in mainly for the Emergency
Firefighting Water System project and $4M capital
contribution from Department of Public Works for
the water pipeline assets.

Total expenses and transfers out increased
by $99M, as compared to prior year. This was
primarily due to increase of $101M in operating
expenses related to $51M in general administrative
and other for higher capital project expenses
and judgement and claims based on actuarial
estimates, $15M in personnel services due to
cost of living adjustments, pension and other
post-employment benefits obligations based on
actuarial reports, $12M in services provided by
other departments, $11M in depreciation expense,
$10M in purchase and power distribution, and $2M
in construction cost. The total increase is offset by
$2M in interest expenses, net of premium, discount,
refunding loss, and issuance costs, non-operating
expenses and transfers out.

Definitions
• Capital Assets: Include depreciable, amortizable,
n
on-amortizable and non-depreciable facilities
and buildings, improvement, machinery and
equipment, intangible assets, land and rights-of-
way as well as construction work in progress, net
of depreciation and amortization.
•
Cu
rrent and Other Assets: Assets easily
converted to cash or consumed within one
year: cash, investments, receivables, and
prepaid expenses.
• Lo
ng-term Debt Outstanding: Payments
due on debt that are more than 12 months
in the future.
•
Cu
rrent Liabilities: Payments due on obligations
owed by SFPUC within the next 12 months.
• Ne
t Position: Total assets and deferred outflows
of resources, less total liabilities and deferred
inflows of resources.
•
Ch
ange in Net Position: The total of net income
(loss), net of transfers, and cumulative effect of
accounting change.
•
In
come (Loss): The difference between total
revenues less total expenses.
14Annual Report for the Fiscal Year Ended June 30, 2021 A Closer Look at
the Numbers
Definitions continued
• Depreciation and Amortization Expense:

D
epreciation spreads out the cost of a tangible
asset over its useful life, and amortization is the
deduction of intangible assets over a specified
time period; typically the life of an asset.
•
No
n-operating Revenues and Expenses:

Revenues and expenses that are incidental
to SFPUC’s main purpose and derived from
activities not directly related to SFPUC’s
operations such as: license fees and penalties,
interest earnings and costs associated with debt.
•
Op
erating Expenses: Expenses incurred in the
provision of water, sewer, and power services.
• Op
erating Revenues: Revenues for the sale of
water, sewer, and power services to customers,
services, inspections, and programs provided
by SFPUC.
•
Tr
ansfers in: Funds recovered from other
city departments to support various programs
and projects.
•
Tra
nsfers out: Funds provided to other
city departments to support various programs
and projects.

SFPUC 2021
By the Numbers
M i l e s .................. 1,719 miles of water
mains, 1,125 miles of
collection system pipes
Millions of gallons (MG) . . 73,767 MG water
production, 68,812 MG
water consumption
Millions of gallons per day
( M G D ) .................
189.5 MGD water
consumption, 63.8 MGD
sewer treatment
San Francisco Population . 851,916
San Francisco Personal
I n c o m e p e r C a p i t a .....$173,097
S F P U C W e b s i t e ......... sfpuc.org
SFPUC Assets (DOLLARS IN MILLIONS)
Fiscal Year 2020 2020 Change
C a s h & I n v e s t m e n t s.......$ 1,287 1,355 (68) Charges for Services Receivables
(net of allowance for doubtful
accounts)
137 132 5
C a p i t a l A s s e t s ............. 9,864 9,199 665 O t h e r s.................... 131 129 2
T o t a l A s s e t s............. $ 11,419 10,815 604 SFPUC assets increased by $604M or 5.6%,
mainly due to $665M additional construction
and capital improvements, and $7M higher
receivables related to charges for services,
receivables from other government entities
and interest income offset by a decrease of
$68M in restricted cash and investments mainly
related to higher capital spending.

SFPUC Liabilities
(DOLLARS IN MILLIONS)
Fiscal Year 2021 2020 Change
Certificates of Participation . $ 138 142 (4)
C o m m e r c i a l P a p e r s ....... 859 634 225
B o n d s .................. 6,631 6,366 265
State Revolving Fund Loans . 216 161 55
O t h e r s .................. 1,123 1,031 92
T o t a l L i a b i l i t i e s .........$ 8,967 8,334 633 SFPUC liabilities increased by $633M or 7.6%.

The increases included $541M in outstanding
debts due to issuance, and $92M in other
liabilities including amounts due to various
city and government entities, net pension
liability and other post-employment benefits,
and restricted payables.
15 Annual Report for the Fiscal Year Ended June 30, 2021 Financials at a Glance
• Current Ratio m easures the enterprise’s ability
to pay short-term obligations with its current
assets. It is defined as current assets divided
by current liabilities.
•
Debt Ratio measures how much of the
enterprise’s assets are financed by debt.

It is defined as total liabilities divided by
total assets.
• Debt Service Coverage measures the
enterprise’s ability to meet both legal and policy-
driven revenue obligations associated with
debt. To ensure that the SFPUC retains financial
flexibility for contingencies, it has adopted and
implemented financial policies that impose
higher standards than the bond indenture
minimum debt service coverage requirements
of 1.00x (current) and 1.25x (indenture).

Definitions
SFPUC By the Numbers (DOLLARS IN MILLIONS, UNLESS OTHERWISE STATED) Water Wastewater Hetchy Water Hetchy Power CleanPowerSF SFPUC Standard & Poor’s Bond Rating . . . . . AA- AA N/A AA N/A N/A M o o d y ’ s I n v e s t o r s S e rv i c e .......... Aa2 Aa2 N/A N/A N/A N/A F i t c h ............................. N/A N/A N/A AA- N/A N/A Current Ratio ...................... 1.78 times 0.42 times 5.74 times 1.41 times 6.98 times 1.05 times Debt Ratio ........................ 93.4% 68.0% 21.6% 37.7% 26.8% 78.5% D e b t S e r v i c e C o v e r a g e ............. 1.88 3.73 N/A 13.31 N/A N/A T o t a l A s s e t s ....................... $ 6,320.1 3,961.6 275.6 741.3 121.3 11,419.9 D e f e r r e d O u t f l o w s o f R e s o u r c e s .....$ 257.6 45.4 11.5 14.1 1.2 329.8 T o t a l L i a b i l i t i e s ..................... $ 5,901.9 2,695.1 59.4 279.2 32.5 8,967.4 Deferred Inflows of Resources. . . . . . . $ 26.2 9.4 3.1 3.8 3.0 45.5 Net Position ....................... $ 649.5 1,302.6 224.7 472.5 87.1 2,736.3 N u m b e r o f C u s t o m e r A c c o u n t s ......176,246 174,356 5 5,385 384,332 740,324 C a p i t a l B u d g e t ..................... $ 132.1 170.9 43.5 50.8 1.9 399.2 Adopted Annual Operating Budget. . . $ 612.5 385.8 87.9 121.2 226.5 1,433.9 Credit ratings and debt service coverage are only applicable to outstanding debt. 16Annual Report for the Fiscal Year Ended June 30, 2021 Five-Year Comparative
Consolidated Net Position
(DOLLARS IN MILLIONS)
2021
$1,555
$1,383$9,864
$7,584
$329 $45
$11,74 8
Total assets and deferred
outflows of resources
$9,012
Total liabilities and deferred
inflows of resources
$2,736
Total net position
Current & other assets
Capital assets net of accumulated
depreciation and amortization
Deferred outflows of resources
Current liabilities
Long-term liabilities
Deferred inflows of resources
Net position
$1,616
$82
$9,199
$303
$1,106
$7,228
$11,118 $8,416 $2,702
2020
$1,818
$80
$8,661
$257
$920
$7,278
$10,736 $8,278 $2,458
2019
$26$274
$9,802 $7, 531 $2,271
$1,294
$8,234
$707
$6,798
2018
$19$309
$9,279 $7,053 $2,226
$1,220
$7,750
$556
$6,478
2017
17 Annual Report for the Fiscal Year Ended June 30, 2021 $1,173
$927
$221
$24
$4
$84
$25
$14
$47
2019
$1,343 $1,156
2018
$990
$807
$173
$59
$4
$84
$30
$14
$12
$1,13 0 $1,043
$1,380
Total Expenses
& Transfers Out
Five-Year Comparative
Revenues and Expenses
(DOLLARS IN MILLIONS)
$1,259
$100 $205
$42 $21
$14 $4
$-1
$1,150
Revenues, Transfers in &
Capital Contributions
Charges for services
Interest and investment (loss) income
Rents & concessions
Transfers in and capital contribution
Others
Expenses & Transfers out
Operating expenses
Non-operating expenses
Transfers out
Interest expenses, amortization of
premium, discount, refunding loss
& issuance costs
2021
$1,414
Total Revenues,
Transfer In and
Capital Contribution
2017
$895 $860
$165
$91
$4
$81
$60
$10
$9
$1,055 $1,12 0
$1,303
$1,049
$214
$16
$2
$162
$15
$13
$32
2020
$1,525 $1,281
18Annual Report for the Fiscal Year Ended June 30, 2021 San Francisco Public Utilities Commission
A Department of the City and County of
San Francisco, California
Photos by: Katherine Du Tiel, Megan Tran, Robin Scheswohl, Sabrina Wong
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SFPUC Communications Division
Date of Publication: February 2022

Financial Services
525 Golden Gate Avenue, 4th Floor
San Francisco, CA 94102-3220
sfpuc.org
To provide our customers with high-quality,
efficient and reliable water, power, and sewer
services in a manner that values environmental
and community interests, and sustains the
resources entrusted to our care.

Our Mission