Qy p FY 2022-23 Annual Comprehensive Financial Report — CleanPowerSF Sfpuc Commission, March 12, 2024 (part 2 of 2)

Fiscal Year 2022

For the fiscal year ended June 30, 2022, the City’s funding was based on “pay -as-you-go” plus a contribution of $41,841 to the Retiree Healthcare Trust Fund. The “pay-as-you-go” portion paid by the City was $211,205 for a total contribution of $252,866 for the fiscal year ended June 30, 2022. The SFPUC’s proportionate share of contributions for fiscal year 2022 was $15,560:
$9,873 for Water Enterprise, $3,365 for the Wastewater Enterprise, $975 for Hetchy Water, $1,192 for Hetchy Power, and $155 for CleanPowerSF for fiscal year 2022 and will be recognized as a reduction of the net OPEB liability in the subsequent fiscal period.

OPEB Liabilities, OPEB Expenses and Deferred Outflows/Inflows of Resources Related to OPEB

Fiscal Year 2023

As of June 30, 2023, the City reported net OPEB liabilities related to the Plan of $3,746,270.

The SFPUC’s proportionate share of the City’s net OPEB liability as of June 30, 2023 was $234,816: $148,601 for Water Enterprise, $49,035 for the Wastewater Enterprise, $14,907 for Hetchy Water, $18,220 for Hetchy Power, and $4,053 for CleanPowerSF.

For the year ended June 30, 2023 , the City’s recognized OPEB expense was $256,974.

Amortization of the City’s deferred outflows and inflows is included as a component of OPEB expense. The SFPUC’s proportionate share of the City’s OPEB expense was $ 32,559: $20,381 for Water Enterprise, $4,374 for the Wastewater Enterprise, $2,078 for Hetchy Water, $2,540 for Hetchy Power, and $3,186 for CleanPowerSF.

156 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

As of June 30, 2023, the SFPUC’s reported its proportionate share of the City’s deferred outflows and inflows of resources related to OPEB from the following sources:

Amounts reported as deferred outflows, exclusive of contributions made after the measurement date, and deferred inflows of resources will be amortized annually and recognized in OPEB (benefit)/expense as follows:

Fiscal Year 2022

As of June 30, 2022, the City reported net OPEB liabilities related to the Plan of $3,691,122.

The SFPUC’s proportionate share of the City’s net OPEB liability as of June 30, 2022 was $227,147: $144,115 for Water Enterprise, $49,123 for the Wastewater Enterprise, $14,240 for Hetchy Water, $17,405 for Hetchy Power, and $2,264 for CleanPowerSF.

For the year ended June 30, 2022, the City’s recognized OPEB expense was $272,001.

Amortization of the City’s deferred outflows and inflows is included as a component of OPEB expense. The SFPUC’s proportionate share of the City’s OPEB expense was $22,932: $14,566 for Water Enterprise, $5,364 for the Wastewater Enterprise, $1,874 for Hetchy Water, $2,291 for Hetchy Power, offset by $1,163 for CleanPowerSF.

Hetchy Hetchy SFPUC
Fiscal Year 2023 Water Was tewater Water Power Total
Contribution subsequent to the $ 10,339 3,412 1,038 1,268 282 16,339 measurement date
Differences between expected and 3,299 1,089 331 404 90 5,213 actual experience
6,344 2,093 636 778 173 10,024
Net difference between projected and actual 2,392 789 240 293 65 3,779 6,242 4,110 1,003 1,226 399 12,980
$ 28,616 11,493 3,248 3,969 1,009 48,335
Schedule of Deferred Outflows of Resources
CleanPowerSF
Changes in assumptions
earnings on pension plan investments
Total
Change in proportion
Hetchy Hetchy SFPUC
Fiscal Year 2023 Water Was tewater Water Power CleanPowerSF Total Differences between expected and $ 24,740 8,164 2,482 3,033 675 39,094 actual experience
2,335 122 602 736 2,247 6,042
$ 27,075 8,286 3,084 3,769 2,922 45,136
Schedule of Deferred Inflows of Resources
Change in proportion
Total
Hetchy Hetchy SFPUC
Fis cal years Water Was tewater Water Power CleanPowerSF Total 2024 $ (2,253) (137) (193) (236) (527) (3,346) 2025 (2,213) (124) (189) (231) (526) (3,283) 2026 (720) 369 (39) (48) (485) (923) 2027 (1,132) 236 (130) (159) (384) (1,569) Thereafter (2,480) (549) (323) (394) (273) (4,019) Total $ (8,798) (205) (874) (1,068) (2,195) (13,140) 157 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

As of June 30, 2022, the SFPUC’s reported its proportionate share of the City’s deferred outflows and inflows of resources related to OPEB from the following sources:

He tchy Hetchy SFPUC
Fiscal Year 2022 Water Wastewater Water Power Total
Contribution subsequent to the $ 9,873 3,365 975 1,192 155 15,560 measurement date
Differences between expected and 4,330 1,476 428 523 68 6,825 actual experience
6,091 2,076 602 735 96 9,600
12,151 5,981 1,267 1, 549 479 21,427
$ 32,445 12,898 3,272 3,999 798 53,412
CleanPowerSF
Changes in assumptions
Schedule of Deferred Outflows of Resources
Change in proportion
Total
He tchy Hetchy SFPUC
Fiscal Year 2022 Water Wastewater Water Power CleanPowerSF Total Differences between expected and $ 22,191 7,564 2,193 2,680 348 34,976 actual experience
Net difference between projected and actual 2,728 930 269 329 43 4,299 429 146 272 333 1,203 2,383
$ 25,348 8,640 2,734 3,342 1,594 41,658 Total Schedule of Deferred Inflows of Resources
earnings on plan investments
Change in proportion
He tchy Hetchy SFPUC
Fiscal years Water Wastewater Water Power CleanPowerSF Total 2023 $ (313) 291 (105) (128) (264) (519) 2024 (324) 288 ( 106) (130) (264) (536) 2025 (286) 301 (103) (125) (264) (477) 2026 (263) 231 46 57 (167) (96) 2027 (669) 95 (43) (53) (59) (729) Thereafter (921) (313) (126) (156) 67 (1,449) Total $ (2,776) 893 (437) (535) (951) (3,806) 158 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

Actuarial Assumptions

Fiscal Year 2023

A summary of the actuarial assumptions and methods used to calculate the total OPEB liability as of June 30, 2022 (measurement date) is provided below:

The mortality rates in the base tables are projected generationally from the base year using the MP–2019 projection scale.

Key Actuarial Assumptions
Valuation Date June 30, 2022
Measurement Date June 30, 2022
Actuarial Cost Method The Entry Age Actuarial Cost Method is used to measure the Plan's Total OPEB Liability Healthcare Cost Trend Rates Pre-Medicare trend starts at 7.74% trending down to ultimate rate of 3.93% in 2076 Medicare trend starts at 7.74% trending down to ultimate rate of 3.94% in 2076 10-County average trend starts at 5.00% trending down to ultimate rate of 3.94% in 2076 Vision and expenses trend remains a flat 3.00% for all years Expected Rate of Return on Plan Assets
Salary Increase Rate Wage Inflation Component: 3.25%
Additional Merit Component (dependent on years of service):

Police: 0.50% - 7.50%
Fire: 0.50% - 14.00%
Muni Drivers: 0.00% - 16.00%
Craft: 0.50% - 3.75%
Misc: 0.30% - 5.50%
Inflation Rate Wage Inflation: 3.25% compounded annually Consumer Price Inflation: 2.50% compounded annually
Mortality Tables
Non-Annuitants
Male Female
Miscellaneous 0.834 0.866
Safety 1.011 0.979
Healthy Retirees
Male Female
Miscellaneous 1.031 0.977
Safety 0.947 1.044
Disabled Retirees
Male Female
Miscellaneous 1.045 1.003
Safety 0.916 0.995
Beneficiaries
Male Female
Miscellaneous 1.031 0.977
Safety 1.031 0.977
PubS-2010 Employee
PubG-2010 Employee
PubG-2010 Employee
Published Table
PubG-2010 Employee
Published Table

7.00%
PubG-2010 Employee
PubS-2010 Employee
Published Table
Base mortality tables are developed by multiplying a published table by an adjustment factor developed in SFERS experience study for the period ending June 30, 2019.

Adjustment Factor
PubS-2010 Employee
Adjustment Factor
Adjustment Factor
Published Table
PubG-2010 Employee
Adjustment Factor
159 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

Fiscal Year 2022

A summary of the actuarial assumptions and methods used to calculate the total OPEB liability as of June 30, 2021 (measurement date) is provided below:

The mortality rates in the base tables are projected generationally from the base year using the MP–2019 projection scale.

Sensitivity of Liabilities to Changes in the Healthcare Cost Trend Rate and Discount Rate

The following presents the SFPUC’s proportionate share of the City’s net OPEB liability calculated using the healthcare cost trend rate, as well as what its allocation of the City’s net OPEB liability would be if it were calculated using a healthcare cost trend rate that is 1% lower or 1% higher than the current rate as of June 30, 2023 and June 30, 2022:

Key Actuarial Assumptions
Valuation Date June 30, 2020 updated to June 30, 2021
Measurement Date June 30, 2021
Actuarial Cost Method The Entry Age Actuarial Cost Method is used to measure the Plan's Total OPEB Liability Healthcare Cost Trend Rates Pre-Medicare trend starts at 6.74% trending down to ultimate rate of 4.04% in 2075 Medicare trend starts at 7.24% trending down to ultimate rate of 4.04% in 2075 10-County average trend starts at 5.50% trending down to ultimate rate of 4.04% in 2075 Vision and expenses trend remains a flat 3.00% for all years Expected Rate of Return on Plan Assets
Salary Increase Rate Wage Inflation Component: 3.25%
Additional Merit Component (dependent on years of service):

Police: 0.50% - 7.50%
Fire: 0.50% - 14.00%
Muni Drivers: 0.00% - 16.00%
Craft: 0.50% - 3.75%
Misc: 0.30% - 5.50%
Inflation Rate Wage Inflation: 3.25% compounded annually Consumer Price Inflation: 2.50% compounded annually
Mortality Tables
Non-Annuitants
Male Female
Miscellaneous 0.834 0.866
Safety 1.011 0.979
Healthy Retirees
Male Female
Miscellaneous 1.031 0.977
Safety 0.947 1.044
Disabled Retirees
Male Female
Miscellaneous 1.045 1.003
Safety 0.916 0.995
Beneficiaries
Male Female
Miscellaneous 1.031 0.977
Safety 1.031 0.977
Published Table
Adjustment Factor
PubG-2010 Employee
Adjustment Factor
PubG-2010 Employee
PubG-2010 Employee
PubS-2010 Employee
Published Table
PubG-2010 Employee
PubS-2010 Employee
Published Table
Adjustment Factor

7.00%
PubG-2010 Employee
PubS-2010 Employee
Base mortality tables are developed by multiplying a published table by an adjustment factor developed in SFERS experience study for the period ending June 30, 2019.

Published Table
Adjustment Factor
Hetchy Hetchy
Water Was tewater Water Power CleanPowerSF Total 2023
$ 127,125 41,948 12,753 15,586 3,467 200,879 148,601 49,035 14,907 18,220 4,053 234,816 175,238 57,824 17,579 21,486 4,779 276,906 Healthcare Trend
1% Decrease
1% Increase
Hetchy Hetchy
Water Was tewater Water Power CleanPowerSF Total 2022
$ 122,667 41,812 12,121 14,814 1,927 193,341 144,115 49,123 14,240 17,405 2,264 227,147 170,851 58,236 16,882 20,634 2,685 269,288 1% Decrease
Healthcare Trend
1% Increase

160 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

Discount Rate

Fiscal Year 2023

The discount rate used to measure the Total OPEB Liability as of June 30, 2022 was 7.0%.

Based on the assumption that plan member contributions will continue to be made at the rates specified in the Charter, it was determined that the Plan’s projected fiduciary net position will be greater than or equal to the benefit payments projected for each future period. As such, the long- term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total OPEB liability.

The long-term expected rate of return on OPEB plan investments was 7.0% based on expected future returns and historical returns experienced by the Trust Fund. Expected future returns were determined based on 10- year and 20-year capital market assumptions for the Trust Fund’s asset allocation.

Target allocation for each major asset class and best estimates of geometric real rates of return are summarized in the following table:

The following presents the SFPUC’s proportionate share of the City’s net OPEB liability calculated using the discount rate, as well as what the SFPUC’s proportionate share of the City’s net OPEB liability would be if it were calculated using a discount rate that is 1% lower or 1% higher than the current rate:

Fiscal Year 2022

The discount rate used to measure the Total OPEB Liability as of June 30, 2021 was 7.0%.

Asse t Cla ss
Target
Allocation
Long-term
Expected Real
Rate of Return
Equities
U.S. Large Cap 28.0 % 6.8 %
U.S. Small Cap 3.0 7.4
Developed Market Equity (non-U.S.) 15.0 7.5
Emerging Market Equity 13.0 8.4
Credit
Bank Loans 3.0 4.0
High Yield Bonds 3.0 4.4
Emerging Market Bonds 3.0 4.2
Rate Securities
Investment Grade Bonds 9.0 2.4
Long-term Government Bonds 4.0 2.8
Short-term Treasury Inflation-Protected Securities (TIPS) 4.0 1.9 Private Markets
Private Equity 5.0 10.0
Core Private Real Estate 5.0 6.1
Risk Mitigating Strategies
Global Macro 5.0 5.0
Total 100.0 %
Hetchy Hetchy SFPUC
Water Was tewater Water Power CleanPowerSF Total
$ 173,000 57,086 17,355 21,211 4,718 273,370 148,601 49,035 14,907 18,220 4,053 234,816 128,583 42,429 12,899 15,765 3,507 203,183 Fiscal Year 2023
1% Decrease 6.00%
Discount Rate 7.00%
1% Increase 8.00%
161 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

Target allocation for each major asset class and best estimates of geometric real rates of return are summarized in the following table:

City issues a publicly available financial report that includes the complete note disclosures and required supplementary information related to the City’s post -employment health care obligations.

The report may be obtained by writing to the City and County of San Francisco, Office of the Controller, 1 Dr. Carlton B. Goodlett Place, Room 316, San Francisco, California 94102, or by calling (415) 554-7500.

(15) Related Parties

Various common costs incurred by the Commission are allocated proratably between Water, Wastewater, Hetchy Water and Hetchy Power and CleanPowerSF. The allocations are based on the Commission management’s best estimate and may change from year to year depending on the activities incurred by each enterprise and the information available.

Asset Class
Target
Allocation
Long-term
Expected Real
Rate of Return
Equities
U.S. Large Cap 28.0% 8.2 %
U.S. Small Cap 3.0 9.5
Developed Market Equity (non-U.S.) 15.0 8.9
Emerging Market Equity 13.0 11.0
Credit
Bank Loans 3.0 4.4
High Yield Bonds 3.0 4.4
Emerging Market Bonds 3.0 4.3
Rate Securities
Investment Grade Bonds 9.0 1.9
Long-term Government Bonds 4.0 3.2
Short-term Treasury Inflation-Protected Securities (TIPS) 4.0 1.5 Private Markets
Private Equity 5.0 13.0
Core Private Real Estate 5.0 6.2
Risk Mitigating Strategies
Global Macro 5.0 4.4
Total 100.0%
Hetchy Hetchy SF PUC
Water Was tewater Water Power Cl eanPowerSF Total
$ 168,520 57, 442 16,652 20,352 2,648 265,614 144,115 49,123 14,240 17,405 2,264 227,147 124,181 42,328 12,271 14,997 1,951 195,728 Discount Rate 7.00%
1% Increase 8.00%
Fiscal Year 2022
1% Decrease 6.00%
162 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

The following tables show the administrative costs including COVID -19 Project expenses for the years ended June 30, 2023 and 2022:

SFPUC’s 75-year lease agreement with the San Francisco Recreation and Parks Department (SFRPD), for the use of parking spaces for its fleet of vehicles at the Civic Center Garage, commenced on February 1, 2011. The total payment under this agreement is $6,274, which was fully made as of fiscal year 2015.

The expenses and prepayments among the three SFPUC Enterprises are based on 525 Golden Gate occupancy.

The following tables show the allocable share of expenses and prepayments for the years ended June 30, 2023 and 2022:

Water Enterprise

The Water Enterprise purchases water from Hetch Hetchy Water. The amounts, totaling $49,636 and $45,815 for the years ended June 30, 2023 and 2022, respectively, have been included in the services provided by other departments in the accompanying financial statements.

The Water Enterprise purchases electricity from Hetch Hetchy Power at market rates. The amounts, totaling $ 11,398 and $ 11,394 for the years ended June 30, 2023 and 2022, respectively, have been included in services provided by other departments in the accompanying financial statements.

The Water Enterprise sold water to the Wastewater Enterprise at retail rates. This amount, totaling $1,552 and $1,819 for the years ended June 30, 2023 and 2022, respectively, has been included in charges for services in the accompanying financial statements.

Since fiscal year 2008, the Water Enterprise has charged City departments for water usage with the exception of fire hydrants, which are used for general public safety. In fiscal years 2023 and 2022, the Water Enterprise delivered water for fire hydrant purposes totaling $ 9 and $ 8, respectively, based on metered usage and applicable water rates, and the amount has been excluded from operating revenues in the accompanying financial statements.

A variety of City departments provide services such as engineering, purchasing, legal, data processing, telecommunications, and human resources to the Water Enterprise and charge amounts designed to recover those departments’ costs. These charges, totaling $18,690 and $15,951 for the years ended June 30, 2023 and 202 2, respectively, have been included in services provided by other departments in the accompanying financial statements.

Fiscal SFPUC
Years Total
2023 $ 55,121 48.2% 32,909 28.8% 11,778 10.3% 9,452 8.3% 5,132 4.4% 114,392 2022 52,769 49.2% 32,212 30.0% 10,886 10.2% 8,820 8.2% 2,515 2.4% 107,202 Hetchy PowerHetchy WaterWastewaterWater CleanPowerSF
Hetchy Hetchy SFPUC
Water Was tewater Water Po wer Total
Allocable share of expenses $ 45 21 5 12 83 Allocable share of prepayment 3,220 1,124 146 741 5,231 Hetchy Hetchy SFPUC
Water Was tewater Water Po wer Total
Allocable share of expenses $ 44 22 5 13 84 Allocable share of prepayment 3,265 1,145 151 753 5,314 2023
2022
163 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

During the fiscal year ended June 30, 2023, the Wate r Enterprise transferred $20,000 to Hetch Hetchy Water to fund various Mountain Tunnel projects, and $32 to the Office of the City Administrator for the Water Enterprise’s contribution to the Surety Bond Program. The Water Enterprise received $5 from the General Fund for Mayor’s Office instructions relating to the minimum compensation ordinance.

As of June 30, 2023, the Water Enterprise had interf und receivables of $115 from Department of Public Works (DPW) relating to custom work projects. As of June 30, 2022, the Water Enterprise had interfund receivables of $102 from DPW relating to custom work projects and $69 from Academy of Sciences for unpaid interdepartmental services.

The Water Enterprise had receivables due from the Treasure Island Development Authority for capacity fees of $195 as of June 30, 2022, and from the Office of Community Investment and Infrastructure for custom work projects of $0 and $7 for the years ended June 30, 2023 and 2022, respectively.

The Water Enterprise had a $2,440 payable to San Francisco Municipal Transportation Agency for a settlement payable relating to the Van Ness Corridor Transit Improvement project as of June 30, 2023.

Wastewater Enterprise

The Wastewater Enterprise purchases electricity from Hetch Hetchy Power at market rates. This amount, totaling $14,876 and $11,887 for the years ended June 30, 2023 and 2022, respectively, has been included in services provided by other departments in the accompanying financial statements.

The Wastewater Enterprise purchases water from Water Enterprise at retail rates. This amount, totaling $1,552 and $1,819 for the years ended June 30, 2023 and 2022, respectively, has been included in services provided by other departments in the accompanying financial statements.

The Wastewater Enterprise provides sewer services to other City departments at non-residential rates established by the Commission, and through the Customer Services Bureau, bills and collects sewer service charges on behalf of the Wastewater Enterprise.

The City’s Department of Public Works provides certain engineering and other services to the Wastewater Enterprise and charges amounts designed to recover its costs. These services are primarily related to street cleaning, engineering, building repair, and sewer repair. These amounts totaling approximately $9,156 and $13,099 for the years ended June 30, 2023 and 2022, respectively, have been included in services provided by other departments in the accompanying financial statements.

A variety of other City departments provide servic es such as purchasing, legal, data processing, telecommunications, and human resources to the Wast ewater Enterprise and charge amounts designed to recover those departments’ costs. These charges totaling approximately $15,414 and $12,840 for the years ended June 30, 2023 and 2022, respectively, have been included in services provided by other departments in the accompanying financial statements.

As of June 30, 2023 and 2022, the Wastewater Enterprise has payables in the amount of $2,102 and $0, respectively, to MTA related to Walsh settlement and $518 and $629, respectively, which is associated with the SFPUC Headquarters Li ving Machine system. As of J une 30, 2023 and 2022, the Wastewater Enterprise has payable of $0 to the City Attorney’s Office for legal services provided.

As of June 30, 2023, the Wastewater Enterprise has interfund receivable of $128 from DPW for the Mission Bay South custom work project. In fiscal year 2022, the Wastewater Enterprise has interfund receivable of $224, of which $118 from DPW for cu stom work projects and $106 from the Academy of Sciences for sewer charges.

164 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

As of June 30, 2023, the Wastewater Enterprise has no receivable due from the City’s component unit. In fiscal year 2022, the Wastewater Enterprise has receivable due from the City’s component unit consisting of $1,014, from the Treasure Island Development Authority for capacity charges and $1 from the Office of Community Investment and Infrastructure (OCII) for the Candlestick Point Project.

SFPUC’s 30-year lease agreement with the San Francisco Port Commission, for the use of approximately 4,833 square feet of land located within Seawall Lot 345 and within the public right-of-way on Terry A.

Francois Boulevard and on Illinois Street, commenced on September 1st, 2018. SFPUC intends to use the premises for the reconstruction of the Mariposa Pump Station and Force Main Improvements. Total payment under this agreement is $502, which was fully made as of fiscal year 2019. As of June 30, 2023, the Wastewater Enterprise’s expenses and prepayment were $17 and $421, respectively, and as of June 30, 2022 were $17 and $438, respectively.

Hetchy Water

The Water Enterprise purchases water from Hetchy Water. Included in the operating revenues are the water assessment fees of $49,636 and $45,815 for the years ended June 30, 2023 and 2022, respectively.

The water assessment fees represent a recovery to fund upcountry, water -related costs that are not otherwise funded through Hetchy water-related revenue or Water revenue bonds.

A variety of City departments provide direct services such as engineering, purchasing, legal, data processing, telecommunication, and human resources to Hetchy Water and charge amounts designed to recover those departments’ costs. These charges totaling approximately $3,392 and $3,129 for the years ended June 30, 2023 and 202 2, respectively, have been included in services provided by other departments in the accompanying financial statements.

Hetchy Water received $20,000 and $30,001 for the years ended June 30, 2023 and 2022, respectively, from the Water Enterprise to fund upcountry projects.

Hetchy Power

For the years ended, June 30, 2023, and 2022, operating revenues in sales of power to departments within the City were $121,046 and $116,334, respectively.

A variety of City departments provide direct services such as engineering, purchasing, legal, data processing, telecommunication, and human resources to Hetchy Power and charge amounts designed to recover those departments’ costs. These charges totaling approximately $8,674 and $6,253 for the years ended June 30, 2023 and 2022, respectively, have been included in services provided by other departments in the accompanying financial statements.

T
he Water Enterprise also purchases electricity and gas from Hetchy Power. This amount totaled $11,398 and $11,394 for the years ended June 30, 2023 and 2022, respectively.

The Wastewater Enterprise purchases electricity and gas from Hetchy Power. This amount totaled $14,876 and $11,887 for the years ended June 30, 2023 and 2022, respectively.

The Low Carbon Fuel Standard (LCFS) program is a regulatory program overseen by the California Air Resources Board (CARB). The LCFS program seeks to reduce the carbon intensity of California’s transportation fuel by 20% by 2030. Transportation fuel suppliers can achieve this goal by either reducing the carbon intensity of their fuels or purchasing LCFS credits from other fuel suppliers that have a lower carbon intensity. In 2017, the San Francisco Municipal Transportation Agency (SFMTA) joined the LCFS program, signing up its transit fleet of electric buses, cable cars, and light rail vehicles and generating LCFS credits. Through a Memorandum of Understanding (MOU) with SFMTA, approved by the SFPUC Commission in Resolution 17- 0199, net proceeds from the sale of LCFS credits would be shared 50/50 between SFMTA and Hetchy Power. Under the MOU, Hetchy Power would take responsibility for selling the LCFS credits. In Ordinance 0199-19, the Board of Supervisors authorized Hetchy Power to establish

165 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

the Low Carbon Fuel Standard Fund to account for the revenue and expenditure from the sale of LCFS credits. The Ordinance also allowed Hetchy Power to sell LCFS credits on behalf of other City agencies.

During the fiscal year s ended, June 30, 2023 and 2022, Hetchy Power received total payments of LCFS credits attributable to SFMTA of $1,123 and $2,367, respectively. Among these amounts, $561 in fiscal year 2023 and $1,184 in fiscal year 2022, respectively, were transferred to SFMTA, and the remaining portion was reported as other non-operating revenues on the Statements of Revenues, Expenses, and Change in Net Position.

In fiscal year 2023, municipal customers entering into an LCFS Partnership Agreement will pay for premium charges. The Port of San Francisco (Port) started earning its own LCFS credits on January 1, 2022, through the provision of shoreside power to docked ships. Hetchy Power has subsequently started selling the Port’s LCFS credits in fiscal year 2023 and recognized $32 revenues from credit sales. Total of $210 was transferred to Port for fiscal year 2023.

Due from other City departments was $11,486 and $11,804 as of June 30, 2023 and 2022, 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 fund. At June 30, 2023 and 2022, projects completed or under way throughout the City amounted to $3,544 and $4,050, respectively, and are recorded as due from other City departments.

Hetch Hetchy funded a project for the Treasure Island Development Authority and recorded a receivable in connection with an upgraded submarine power cable for the Treasure Island, and gas and electrical charges for the Treasure Island as due from other City departments. This amount totaled $7,177 and $6,666 for the years ended June 30, 2023 and 2022, respectively.

As of June 30, 2023 and 2022, Hetchy Power recorded receivables of $518 and $629, 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:

As of June 30, 2023 , Hetchy Power had payables in the amount of $1,946 for claim settlement reimbursement to SFMTA. As of June 30, 2022, Hetchy Power had payables in the amount of $380, of which $369 to the Port of San Francisco for Pier 70 Shoreside Power Project and $11 to the Department of Public Works for painting of light poles.

CleanPowerSF

As of June 30, 2023, and 2022, operating revenue in sales of power to Hetchy Power were $1,549 and $2,332, respectively. Operating expenses in purchase of power from Hetchy Power were $ 5,846 and $1,589, 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.

2023 2022
Treasure Island Development Authority $ 7,177 6,666
SEA-related projects - Moscone Center 3,544 4,050
Wastewater - 525 Golden Gate Headquarters Project 518 629 San Francisco Recreation and Park 209 314
Department of Public Works 38 145
Total due from other City departments 11,486 11,804
Less: current portion (1,134) (867)
Long-term portion as of June 30, net $ 10,352 10,937
166 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

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. These charges totaling approximately $4,302 and $3,621 for the years ended June 30, 2023 and 2022 , 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 $2,850 and $1,861 for the years ended June 30, 2023 and 2022, respectively.

(16) 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 collaboratively 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, internal 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.

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 recorded 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 anticipated claim payments and the projected timing of disbursement.

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
167 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

The changes for the general liability (damage claims) for the years ended June 30, 2023 and 2022 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 workers’ 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, 2023 and 2022 are as follows:

*CleanPowerSF had no workers’ compensation liability as of June 30, 2023 and 2022.

Water Was tewater
Hetchy
Water
Hetchy
Power CleanPowerSF
SFPUC
Total
Beginning of year $ 36,069 12,045 627 1,023 32 49,796
Claims & changes in estimates 1,898 2,716 320 10,439 1,738 17,111 Claims paid & changes in estimates (18,342) (10,411) (247) (5,312) (1,736) (36,048) End of year $ 19,625 4,350 700 6,150 34 30,859
Water Was tewater
Hetchy
Water
Hetchy
Power CleanPowerSF
SFPUC
Total
Beginning of year $ 36,723 16,713 525 1,108 6 55,075
Claims & changes in estimates 452 8,812 253 2,005 1,582 13,104 Claims paid & changes in estimates (1,106) (13,480) (151) (2,090) (1,556) (18,383) End of year $ 36,069 12,045 627 1,023 32 49,796
2023
2022
Water Was tewater
Hetchy
Water
Hetchy
Power
SFPUC
Total
Beginning of year $ 8,973 7,546 1,228 2,250 19,997
Claims & changes in estimates 3,984 2,976 76 224 7,260
Claims paid & changes in estimates (3,222) (2,524) (85) (236) (6,067) End of year $ 9,735 7,998 1,219 2,238 21,190
Water Was tewater
Hetchy
Water
Hetchy
Power
SFPUC
Total
Beginning of year $ 8,828 6,582 1,120 2,118 18,648
Claims & changes in estimates 2,793 3,207 233 322 6,555 Claims paid & changes in estimates (2,648) (2,243) (125) (190) (5,206) End of year $ 8,973 7,546 1,228 2,250 19,997
2023*
2022*
168 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

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 required 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 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.

169 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

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 Hetchy 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 reason, 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 risks 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 operational resiliency and the ability to capitalize on opportunities.

(17) 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, 2023 and 2022 , the Water Enterprise had outstanding commitments with third parties o f $220,706 and $322,132, respectively. As of June 30, 2023 and 2022, the Wastewater Enterprise had outstanding commitments with third parties of $762,085 and $1,037,607, respectively. As of June 30, 2023 and 2022, Hetch Hetchy had outstanding commitments with third parties of $136,322 and $199,283, 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 $5,329 and $5,129 for fiscal years 2023 and 2022 , 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.

170 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

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 higher 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, Distributed Antenna System (DAS), traffic signal and bus shelters.

Staff prepare regular reporting to the Board of Supervisors outlining on- going disputes with PG&E over project requirements, costs and delays. During fiscal years 2023 and 2022, Hetchy Power purchased distribution services for $29,008 and $22,404, 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 PG&E’s 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 2023 and 202 2, Hetchy Power purchased $3,676 and $4,152 of power and other related products, respectively. Sales of excess power, after meeting Hetch Hetchy’s obligations, were $1,157 or 155,000 MWh for 2023 and $0 for 2022, 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 SFCity1, 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 by 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 2023, the facility generated 6,006 MWh and the rate was at $334/MWh. In the event that the facility generates more energy 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 2023 and 2022, purchases of energy under the Agreement were $2,037, or 6,006 MWh and $2,225, or 6,460 MWh, respectively.

171 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

APX, Inc

Hetchy Power and CleanPowerSF participate in the California Independent System Operator (CAISO) energy markets which requires the SFPUC to have a contract with a certified Scheduling Coordinator (SC). In June 2022, CleanPowerSF renewed a 5- year contract with APX, Inc with contract amount not to exceed $134,743 to fulfill this requirement. APX, Inc provides a number of services including but not limited to an interface with the CAISO’s energy scheduling portal, manage invoice payments to the CAISO and communications between the CAISO and the SFPUC, and dispatch of the Hetch Hetchy plant 24 hours a day, seven days a week. The contract also provides that APX, Inc will act as the SC for renewable generation plants under some of CleanPowerSF’s Power Purchase Agreements. Hetchy Power’s share was $471 and $456 as of June 30, 2023 and 2022, respectively. CleanPowerSF’s share was $226 and $192 as of June 30, 2023 and 2022.

On January 6, 2023, Amendment No. 1 was requested and approved to increase this cont ract by $125,000, increasing the total contract to $259,743, with no change to the agreement duration.

On March 17, 2023, Amendment No. 2, was approved to increase the contract by $636,000 for a total not to exceed contract amount of $895,743, with no change to the agreement duration. The drivers for these Amendments were higher than anticipated power prices, due to extreme weather, draught conditions, and global energy shortages.

CleanPowerSF

CleanPowerSF regularly adds new 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.

CleanPowerSF has also entered into long- term contracts for renewable energy and capacity with renewable energy developers including sPower, Terra- Gen, NextEra, Intersect Power and EDF Renewables. These contracts have been entered to allow CleanPowerSF to meet its existing retail sales obligations, to support future retail sales from anticipated load growth, and to comply with State requirement that 65% of CleanPowerSF’s Renewables Portfolio Standard (RPS) compliance targets be fulfilled by RPS -eligible electricity from contracts of 10 or more years.

Citywide enrollment was completed in 2020. Since it began serving customers in 2016, CleanPowerSF’s cumulative opt -out rate is 4.4% of all enrolled accounts. The total power purchase cost, net of wholesale sales, were $259,532 and $238,149 in fiscal years 2023 and 2022, respectively.

CleanPowerSF contracts with Calpine Energy Solutions to provide meter data management, billing, and customer care support. Calpine is responsible for calculating and providing CleanPowerSF charges to PG&E, which in turn bills both CleanPowerSF and PG&E customers for electricity transmission, distribution, and CleanPowerSF generation services. PG&E remits payments received from customers for CleanPowerSF charges to the City. During fiscal years 2023 and 2022, amounts paid were $4,679 and $4,730, respectively.

CleanPowerSF Power Purchase Agreement (PPA)

In November 2020, CleanPowerSF executed a Power and Storage Purchase 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, 2022, CleanPowerSF has cash collateral of $9,000 for Development Assurance and Performance Assurance from the Seller. The $9,000 cash collateral was returned to the seller as of June 30, 2023.

172 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

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. In November 2021 the Credit Agreement was decreased (at the request of CleanPowerSF) the available amount from $75,000 to $20,000, and the stated term of the agreement was extended to March 2024. Additional changes to the agreement effected by the November 2021 Amendments include elimination of target reserve requirements, revisions to debt service coverage (allowing for a liquidity test two times in the aggregate for any consecutive four quarter s) 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 long- term unenhanced credit rating is downgraded below investment grade or suspended, withdrawn or otherwise unavailable. In May 2022 CleanPowerSF executed another amendment to its Credit Agreement to eliminate and change certain financial covenants contained in the 2018 Credit Agreement. Specifically, this Amendment eliminated the covenant of the Commission to maintain a specified debt service coverage ratio and changed such financial covenant to commit the Commission to maintain a specified level of Day Liquidity on Hand (as defined in the Credit Agreement). 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 letters of credit in the face amounts totaling $6,183 and $5,847 for fiscal years ending June 30, 2023 and 2022, respectively.

CleanPowerSF did not draw on the Credit Agreement during fiscal years 2023 and 2022.

Accordingly, the uncommitted credit capacity under the Credit Agreement was $13,817 and $14,153 during fiscal years 2023 and 2022, respectively.

Original 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 quarters ended on such date, resulting in a covenant event of 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. CleanPowerSF was in compliance with other covenants and requirements of the Credit Agreement as of June 30, 2021. CleanPowerSF was in compliance with all covenants and requirements of the Credit Agreement as amended as of June 30, 2023 and 2022.

GASB Statement No. 88, Certain Disclosures Related to Debt, Including Direct Borrowings 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, representation, 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.

Green Tariff and Community Solar Green Tariff Programs for Disadvantaged Communities

In June 2018. the CPUC established the Disadvantaged Communities -Green Tariff (DAC -GT) and Community Solar Green Tariff (CSGT) program to address barriers to solar adoption faced by low -income electric customers in neglected communities. The DAC -GT program provides a 20% rate discount on 100% RPS eligible electricity service to income- qualified customers residing in Disadvantaged Communities (DACs) as defined by the California Environmental Protection Agency’s (Cal EPA). Similar to DAC -GT, the CSGT program allows primarily for the DACs to benefit from the development of solar generation projects located in their own or nearby DACs.

CSGT projects must also have a local community-based sponsor that supports site selection and

173 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

customer enrollment.

The CPUC approved CleanPowerSF’s application to establish DAC -GT and CSGT programs in April 2021 and to receive funds to cover program administration and a portion of electricity supply costs. CleanPowerSF began enrolling customers in the DAC -GT program branded as “SuperGreen Saver” on June 1, 2022. The CSGT program is expected to start serving customers during fiscal year 2026, once CleanPowerSF is able to procure electricity from a CSGT -eligible solar project(s). As of June 30, 2023 and 2022, CleanPowerSF received $868 and $1,150, respectively, from a combination of ratepayer funds and California Cap and Trade Auction proceeds.

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, 2023 and 2022, the pollution remediation liability of $1,271 is related to the Pacific Rod & Gun Club site.

Wastewater

As of June 30, 2023 , and 2022 , the Wastewater Enterprise recorded $7,800 and $8,060 in pollution remediation liability, respectively. The decrease of $260 in pollution remediation liability in fiscal year 2023 is due to payments of violation penalties of $240 at the Southeast Plant for the discharge of secondary treated and disinfected wastewater and $20 at the Oceanside Plant for failure to meet the District permit condition- imposed standards relating to gas released into the atmosphere from digesters. As of June 30, 2023 the pollution remediation liability of $7,800 was for the Yosemite Creek toxic sediments. In fiscal year 2022, the pollution remediation liability of $8,060 consisted of $7,800 for the Yosemite Creek toxic sediments and $260 aggregate violation fines at the Southeast Plant and Oceanside Plant.

Hetch Hetchy

Hetch Hetchy had no pollution remediation liability as of June 30, 2023 and 2022.

174 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2023 and 2022
(Dollars in thousands, unless otherwise stated)

(18) Subsequent Events

a) Water Revenue Bonds 2023 Series AB Issuances

On July 27, 2023, the SFPUC issued its San Francisco Water Revenue Bonds, 2023 Sub- Series A (Regional and Local Water, Tax -exempt) and Sub-Series B (Hetch Hetchy Water, Tax -exempt) in the aggregate principal amount of $414,035 to (i) refund principal and interest on Commercial Paper Notes issued to finance and refinance a portion of the design, acquisition and construction of various capital projects of benefit to the SFPUC’s Water Enterprise, (ii) finance and refinance a portion of the design, acquisition and construction of various capital projects of benefit to the SFPUC’s Water En terprise, and (iii) fund capitalized interest through May 1, 2025 and other financing costs.

b) Water Revenue Bonds 2023 Series CD Issuances

On August 10, 2023, the SFPUC issued its San Francisco Water Revenue Bonds, 2023 Sub-Series C (Tax-exempt Refunding – WSIP, Green Bonds), and Sub-Series D (Tax-exempt Refunding –Local Water) an aggregate principal amount of $514,855 to refund all or a portion of various series of the SFPUC’s Outstanding Bonds.

c) Power Revenue Bonds 2023 Series A Issuances

On October 2023, the SFPUC issued its San Francisco Power Revenue Bonds, 2023 Series A with a principal of $123,905 to finance or refinance Power Enterprise projects through the refunding and retirement of commercial paper issued as interim financing for such projects in furtherance of the Power Capital Improvement Program.

d) Water Enterprise Commercial Paper Program

On July 10, 2023, the SFPUC entered into new commercial paper dealer agreements with Bank of America Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Bank, National Association for the offering and sale, and remarketing from time to time of water commercial paper program notes.

175 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Required Supplementary Information
(Unaudited)

Schedules of the Proportionate Share of the Net Pension (Asset)/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 Ratio - 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

176 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplemental Information (Unaudited)
Schedules of the Proportionate Share of the Net Pension (Asset)/Liability Fiscal Years Ended 2015 to 2023
(In thousands)
*Fiscal year 2015 was the first year of implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions. Therefore nine years data shown. RSI will be provided for 10 years as it becomes available. **Changes of Assumptions - For the measurement period ended June 30, 2022, the discount rate was decreased from 7.40% to 7.20%. There are no changes in the discount rate for the measurement period ended June 30, 2021 and 2020. For the measurement period ended June 30, 2019, the discount rate was decreased from 7.50% to 7.40%. There were no changes in the discount rate for the measurement pension 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 (asset)/liability by the Total covered payroll from SFERS (http://www.mysfers.org). The total covered payroll for SFERS includes the City, San Francisco Unified 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 (SFER S) See accompanying auditors’ report.
2015* 2016** 2017** 2018 2019** 2020 2021 2022 2023
(MP 2014) (MP 2015) (MP 2016) (MP 2017) (MP 2018) (MP 2019) (MP 2020) (MP 2021) (MP 2022) Proportion of net pension liability 93.78% 93.90% 94.22% 94.07% 94.10% 94.13% 94.39% 94.64% 94.87% Proportionate share of the net pension (asset)/liability $ 1,660,365 2,156,049 5,476,654 4,697,131 4,030,207 4,213,808 5,107,270 (2,446,564) 2,552,996 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 3,434,713 3,553,859 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 69.21% 85.22% 204.22% 163.09% 132.35% 132.24% 151.15% -71.23% 71.84% Plan fiduciary net position
as a percentage of total pension (asset)/liability 91.84% 89.90% 77.61% 81.78% 85.20% 85.30% 83.10% 107.80% 92.40% Water
Proportion of net pension liability 5.08% 5.00% 4.75% 4.45% 4.35% 4.23% 4.21% 4.27% 4.27% Proportionate share of the net pension (asset)/liability $ 84,374 108,024 259,956 209,003 175,429 178,133 215,240 (100,407) 111,743 Covered payroll^ 127,364 132,138 134,734 135,361 140,137 142,781 150,170 154,740 159,803 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 66.25% 81.75% 192.94% 154.40% 125.18% 124.76% 143.33% -64.89% 69.93% Wastewater
Proportion of net pension liability 2.27% 2.20% 2.17% 2.15% 2.11% 2.05% 2.03% 1.99% 1.99% Proportionate share of the net pension (asset)/liability $ 37,615 48,177 118,907 100,973 85,037 86,235 103,746 (48,770) 49,549 Covered payroll^ 56,913 58,141 61,552 65,399 67,975 69,197 72,410 72,116 74,475 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 66.09% 82.86% 193.18% 154.40% 125.10% 124.62% 143.28% -67.63% 66.53% Hetchy Water
Proportion of net pension liability 0.56% 0.57% 0.57% 0.54% 0.50% 0.51% 0.52% 0.57% 0.55% Proportionate share of the net pension (asset)/liability $ 9,242 12,093 31,235 25,216 20,390 21,477 26,645 (13,912) 14,105 Covered payroll^ 14,040 15,064 16,168 16,426 16,108 17,215 18,548 20,656 20,584 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 65.83% 80.28% 193.19% 153.51% 126.59% 124.76% 143.65% -67.35% 68.53% Hetchy Power
Proportion of net pension liability 0.68% 0.69% 0.70% 0.65% 0.62% 0.62% 0.64% 0.69% 0.68% Proportionate share of the net pension (asset)/liability $ 11,295 14,781 38,177 30,819 24,920 26,249 32,566 (17,004) 17,239 Covered payroll 17,049 18,235 19,855 19,772 19,974 20,928 22, 829 25,005 25,449
Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 66.25% 81.06% 192.27% 155.87% 124.76% 125.43% 142.65% -68.00% 67.74% CleanPowerSF
Proportion of net pension liability 0.02% 0.03% 0.04% 0.06% 0.07% 0.08% Proportionate share of the net pension (asset)/liability $ 1,087 1,070 1,805 3,008 (1,833) 2,124 Covered payroll^ 608 966 1,350 2,140 2,537 2,994 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 178.68% 110.71% 133.69% 140.55% -72.26% 70.94% SFPUC Total
Proportion of net pension liability 8.59% 8.46% 8.19% 7.81% 7.61% 7.45% 7.46% 7.59% 7.57% Proportionate share of the net pension (asset)/liability $ 142,526 183,075 448,275 367,098 306,846 313,899 381,205 (181,926) 194,760 Covered payroll^ 215,365 223,577 232,309 237,566 245,159 251,471 266,098 275,054 283,304 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 66.18% 81.88% 192.96% 154.52% 125.16% 124.83% 143.26% -66.14% 68.75% City - San Francisco Employee's Retirement
System (SFERS) Plan and Measurement Period (MP)
Data not available - CleanPowerSF
launched in May 2016.
177 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplemental Information (Unaudited)

Schedules of Employer Contributions - Pension Plan
Fiscal Years Ended 2015 to 2023
(In thousands)

(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 nine 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 latest available measurement period percentage of proportion of net pension (asset)/liability by the Total covered payroll from SFERS (http://www.mysfers.org). The total covered payroll for SFERS includes the City, San Francisco Unified School District, San Francisco Community College District and the San Francisco Courts. Fiscal year 2023 is an estimated percentage of proportion of net pension liability based on measuring period 2022. Fiscal year 2021 and 2022 payroll data updated.

Source: Office of the Controller, City and County of San Francisco and San Francisco Employees’ Retirement System (SFERS) S
ee accompanying auditors’ report.
2015* 2016 2017 2018 2019 2020 2021 2022 2023
(M
P 2015) (MP 2016) (MP 2017) (MP 2018) (MP 2019) (MP 2020) (MP 2021) (MP 2022) (MP 2023) Actuarially determined contributions1** $ 556,511 496,343 519,073 582,568 607,408 701,307 791,736 729,578 638,003 Contributions in relations to the
actuarially determined contributions1 (556,511) (496,343) (519,073) (582,568) (607,408) (701,307) (791,736) (729,578) (638,003) Contribution deficiency (excess) $ — — — — — — — — — Cov
ered payroll $ 2,529,879 2,681,695 2,880,112 3,045,153 3,186,405 3,378,945 3,434,713 3,553,859 3,810,429 Contributions as a percentage of
covered payroll 22.00% 18.51% 18.02% 19.13% 19.06% 20.76% 23.05% 20.53% 16.74% Water
Actuarially determined contributions1 $ 28,280 24,497 24,638 25,922 26,440 29,647 33,367 31,151 27,925 Contributions in relations to the
actuarially determined contributions1 (28,280) (24,497) (24,638) (25,922) (26,440) (29,647) (33,367) (31,151) (27,925) Contribution deficiency (excess) $ — — — — — — — — — Cov
ered payroll^ $ 132,138 134,734 135,361 140,137 142,781 150,170 154,740 159,803 170,549 Contributions as a percentage of
covered payroll 21.40% 18. 18% 18.20% 18.50% 18.52% 19.74% 21.56% 19.49% 16.37% Wastewater
Actuarially determined contributions1 $ 12,608 10,930 11,270 12,523 12,816 14,352 16,083 14,543 12,383 Contributions in relations to the
actuarially determined contributions1 (12,608) (10,930) (11,270) (12,523) (12,816) (14,352) (16,083) (14,543) (12,383) Contribution deficiency (excess) $ — — — — — — — — — Cov
ered payroll^ $ 58,141 61,552 65,399 67,975 69,197 72,410 72,116 74,475 79,483 Contributions as a percentage of
covered payroll 21.69% 17. 76% 17.23% 18.42% 18.52% 19.82% 22.30% 19.53% 15.58% Hetchy Water
Actuarially determined contributions1 $ 3,097 2,806 2,961 3,128 3,073 3,574 4,130 4,149 3,525 Contributions in relations to the
actuarially determined contributions1 (3,097) (2,806) (2,961) (3,128) (3,073) (3,574) (4,130) (4,149) (3,525) Contribution deficiency (excess) $ — — — — — — — — — Cov
ered payroll^ $ 15,064 16,168 16,426 16,108 17,215 18,548 20,656 20,584 21,968 Contributions as a percentage of
covered payroll 20.56% 17.36% 18.03% 19.42% 17.85% 19.27% 19.99% 20.16% 16.05% Hetchy Power
Actuarially determined contributions1 $ 3,786 3,430 3,618 3,822 3,756 4,369 5,048 5,071 4,308 Contributions in relations to the
actuarially determined contributions1 (3,786) (3,430) (3,618) (3,822) (3,756) (4,369) (5,048) (5,071) (4,308) Contribution deficiency (excess) $ — — — — — — — — — Cov
ered payroll^ $ 18,235 19,855 19,772 19,974 20,928 22,829 25,005 25,449 27,160 Contributions as a percentage of
covered payroll 20.76% 17. 27% 18.30% 19.14% 17.95% 19.14% 20.19% 19.93% 15.86% CleanPowerSF
Actuarially determined contributions1 $ 135 161 300 466 546 531 Contributions in relations to the
actuarially determined contributions1 (135) (161) (300) (466) (546) (531) Contribution deficiency (excess) $ — — — — — —
Cov
ered payroll^ 966 1,350 2,140 2,537 2,994 3,195 Contributions as a percentage of
covered payroll 13.97% 11. 92% 14.02% 18.37% 18.24% 16.62% SFPUC Total
Actuarially determined contributions1 $ 47,771 41,663 42,487 45,530 46,246 52,242 59,094 55,460 48,672 Contributions in relations to the
actuarially determined contributions1 (47,771) (41,663) (42,487) (45,530) (46,246) (52,242) (59,094) (55,460) (48,672) Contribution deficiency (excess) $ — — — — — — — — — Cov
ered payroll^ $ 223,577 232,309 236,958 245,159 251,471 266,098 275,054 283,304 302,355 Contributions as a percentage of
covered payroll 21.37% 17. 93% 17.93% 18.57% 18.39% 19.63% 21.48% 19.58% 16.10%

City - SFERS Plan and
Measurement Period (MP)
Data not available - CleanPowerSF
launched in May 2016.
178 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplementary Information (Unaudited)
Schedules of Employer Contributions - Pension Plan
Fiscal Years Ended 2015 to 2023

Methods and assumptions updated per Office of the Controller.

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

Fiscal Year 2023
Valuation date................................ July 1, 2020 Actuarial cost method.................... Entry-age normal cost method Amortization method...................... Level annual percentage of payroll Remaining amortization period...... C l osed 15-year period Asset valuation method................. 5 year smoothed market Investment rate of return................ 7.40% (net of investment expenses) Inflation........................................... 2.50% Projected salary increase.............. Wage inflation component: 3.25% Fiscal Year 2022 Fiscal Year 2021
Valuation date................................ July 1, 2019 Jul y 1, 2018 Actuarial cost method.................... Entry-age normal cost method Entry-age normal cost method Amortization method...................... Level annual percentage of payroll Lev el annual percentage of payroll Remaining amortization period...... Closed 15-year period Closed 15-year period Asset valuation method................. 5 year smoothed market 5 year smoothed market Investment rate of return................ 7.40% (net of investment expenses) 7.40% (net of investment expenses) Inflation........................................... 2.75% 3.00% compounded annually Projected salary increase.............. Wage inflation component: 3.50% Wage inflation component: 3.50% Fiscal Year 2020 Fiscal Year 2019
Valuation date................................ July 1, 2017 Jul y 1, 2016 Actuarial cost method.................... Entry-age normal cost method Entry-age normal cost method Amortization method...................... Level annual percentage of payroll Lev el annual percentage of payroll Remaining amortization period...... Closed 15-year period Closed 15-year period Asset valuation method................. 5 year smoothed market 5 year smoothed market Investment rate of return................ 7.50% (net of investment expenses) 7.50% (net of investment expenses) Inflation........................................... 3.00% compounded annually 3.25% compounded annually Projected salary increase.............. Wage inflation component: 3.50% Wage inflation component: 3.75% Fiscal Year 2018 Fiscal Year 2017
Valuation date................................ July 1, 2015 Jul y 1, 2014 Actuarial cost method.................... Entry-age normal cost method Entry-age normal cost method Amortization method...................... Level annual percentage of payroll Level annual percentage of payroll Remaining amortization period...... Closed 15-year period Closed 15-year period Asset valuation method................. 5 year smoothed market 5 year smoothed market Investment rate of return................ 7.50% (net of investment expenses) 7.50% (net of investment expenses) Inflation........................................... 3.25% compounded annually 3.25% compounded annually Projected salary increase.............. Wage inflation component: 3.75% Wage inflation component: 3.75% Fiscal Year 2016 Fiscal Year 2015
Valuation date................................ July 1, 2013 Jul y 1, 2012 Actuarial cost method.................... Entry-age normal cost method Entry-age normal cost method Amortization method...................... Level annual percentage of payroll Lev el annual percentage of payroll Remaining amortization period...... Rolling 15-year period Rolling 15-year period Asset valuation method................. 5 year smoothed market 5 year smoothed market Investment rate of return................ 7.58% (net of investment expenses) 7.58% (net of investment expenses) Inflation........................................... 3.33% compounded annually 3.33% compounded annually Projected salary increase.............. Wage inflation component: 3.83% Wage inflation component: 3.83%

Methods and assumptions used to determine contribution rates to SFERS Plan 179 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplementary Information (Unaudited)
Schedules of Changes in Total Pension Liability and Related Ratios - Replacement Benefits Plan Fiscal Years 2021 to 2023
(In thousands)

*Fiscal year 2021 was the first year SFPUC Water Enterprise have Replacement Benefits Plan. Therefore, three years data is shown. 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.

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

See accompanying auditors’ report.
2021* 2022 2023
City Replacement Benefits Plan (MP 2020) (MP 2021) (MP 2022) Plan total pension liability:

Service Cost….........................................................X $ 1,976 2,571 2,894 Interest…..................................................................X 4,776 4,076 4,726 Changes of benefits…..............................................X — — — Differences between expected and X
actual experience…...........................................X 7,800 24,547 (24,639) Changes of assumptions….....................................X 37,013 7,274 (42,151) Benefit payments…..................................................X (3,634) (4,097) (4,473) Net change in total pension liability……...................X 47,931 34,371 (63,643) Total pension liability, beginning…...........................X 137,272 185,203 219,574 Plan total pension liability, ending…...................X $ 185,203 219,574 155,931 Covered-employee payroll.......................................X $ 3,414,923 3,470,495 3,589,396 Plan total pension liability as a percentage
of the covered-employee payroll .......................X $ 5.42% 6.33% 4.34% Water Enterprise
Plan total pension liability:

Service Cost….........................................................X $ 13 47 67 Interest…..................................................................X 30 75 109 Changes of benefits…..............................................X — — — Differences between expected and X
actual experience…...........................................X 50 453 (569) Changes of assumptions….....................................X 235 134 (974) Benefit payments…..................................................X (23) (76) (103) Net change in total pension liability……...................X 305 635 (1,470) Total pension liability, beginning…...........................X — 1,177 4,056 Adjustments to pension............................................X 872 2,244 1,014 Plan total pension liability, ending…...................X $ 1,177 4,056 3,600 Covered-employee payroll.......................................X $ 21,695 64,104 82,915 Plan total pension liability as a percentage
of the covered-employee payroll .......................X $ 0.03% 0.12% 0.10% Water Enterprise's allocation of the City's proportionate share: 0.64% 1.85% 2.31% 180 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

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 2023
(In thousands)

(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 six 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 2022 2023 (M
P 2017) (MP 2018) (MP 2019) (MP 2020) (MP 2021) (MP 2022) Total Other Postemployment Benefits (OPEB) Liability
Service Cost $ 125,195 127,850 133,736 141,642 155,840 154,800 Interest (includes interest on service cost) 272,942 290,029 283,520 314,907 300,122 306,758 Differences between expected and actual experience — (385,732) 194,068 (381,922) (151,947) (224,065) Changes of assumptions — 111,119 — 151,725 — 49,784 Benefits payments, including refunds of
member contributions (165,470) (178,019) (185,839) (196,445) (206,439) (211,025) Net change in total OPEB liability 232,667 (34,753) 425,485 29,907 97,576 76,252 Total OPEB liability - beginning 3,659,019 3,891,686 3,856,933 4,282,418 4,312,323 4,409,899 Adjustments to OPEB — — — (2) — — Total OPEB liability - ending $ 3,891,686 3,856,933 4,282,418 4,312,323 4,409,899 4,486,151 Plan fiduciary net position
Contributions - employer $ 183,898 203,858 218,625 235,963 245,994 252,866 Contributions - member 31,686 41,682 51,024 60,236 61,582 66,455 Net investment income 17,368 14,105 26,959 22,746 128,916 (87,003) Benefit payments, including refunds of
member contributions (165,470) (178,019) (185,839) (196,445) (206,439) (211,025) Administrative expense (109) (137) (132) (113) (265) (189) Net change in plan fiduciary net position 67,373 81,489 110,637 122,387 229,788 21,104 Plan fiduciary net position - beginning 107,104 174,477 255,966 366,603 488,989 718,777 Adjustments to OPEB — — — (1) — — Plan fiduciary net position - ending 174,477 255,966 366,603 488,989 718,777 739,881 Net OPEB liability - ending $ 3,717,209 3,600,967 3,915,815 3,823,334 3,691,122 3,746,270 Plan fiduciary net position as a
percentage of the total OPEB liability 4.48% 6.64% 8.56% 11.34% 16.30% 16.49% Covered payroll $ 3,393,658 3,583,448 3,763,446 3,951,792 3,955,498 4,184,087 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% Water
Proportion of net OPEB liability $ 166,336 150,771 163,684 148,771 144,115 148,601 Percentage of proportion of net OPEB liability 4.47% 4.19% 4.18% 3.89% 3.90% 3.97% Covered payroll 151,858 150,037 157,315 153,769 154,437 165,968 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% Wastewater
Proportion of net OPEB liability $ 59,517 53,567 58,183 50,711 49,123 49,035 Percentage of proportion of net OPEB liability 1.60% 1.49% 1.49% 1.33% 1.33% 1.31% Covered payroll 54,337 53,306 55,919 52,415 52,641 54,766 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% Hetchy Water
Proportion of net OPEB liability $ 15,872 15,404 16,350 14,444 14,240 14,907 Percentage of proportion of net OPEB liability

0.43% 0.43% 0.42% 0.38% 0.39% 0.40%
Covered payroll 14,490 15,329 15,714 14,929 15,260 16,649 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% H
etchy Power
Proportion of net OPEB liability $ 19,400 18,826 19,983 17,653 17,405 18,220 Percentage of proportion of net OPEB liability 0.52% 0.52% 0.51% 0.46% 0.47% 0.49% Covered payroll 17,711 18,734 19,205 18,246 18,652 20,349 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% CleanPowerSF
Proportion of net OPEB liability $ 728 1,242 2,197 2,909 2,264 4,053 Percentage of proportion of net OPEB liability 0.02% 0.03% 0.06% 0.08% 0.06% 0.11% Covered payroll 665 1,236 2,112 3,007 2,426 4,527 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% SFPUC Total
Proportion of net OPEB liability $ 261,853 239,810 260,397 234,488 227,147 234,816 Percentage of proportion of net OPEB liability 7.04% 6.66% 6.66% 6.14% 6.15% 6.27% Covered payroll 239,061 238,643 250,265 242,366 243,416 262,258 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54%

181 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

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 2023
(In thousands)

*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 six years data is shown. RSI will be provided for 10 years as it becomes available. **Fiscal year 2022 covered payroll data and percentage updated in fiscal year 2023. ^ 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 2023, the percentage of proportion of net OPEB liability is based on FY2022.

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

See accompanying auditors’ report.
2018* 2019 2020 2021 2022** 2023
(MP 2018) (MP 2019) (MP 2020) (MP 2021) (MP 2022) (MP 2023) Charter Required or Actuarially determined contributions (ADC) $ 203,858 218,625 235,963 245,992 252,866 260,649 Contributions in relations to charter required contribution or ADC (203,858) (218,625) (235,963) (245,992) (252,866) (260,649) Contribution deficiency (excess) $ — — — — — —
Covered payroll $ 3,583,448 3,763,446 3,951,792 3,955,498 4,184,087 4,600,228 Contributions as a percentage of covered payroll 5.69% 5.81% 5.97% 6.22% 6.04% 5.67% Water
Charter Required or Actuarially determined contributions (ADC) $ 9,122 9,154 9,863 9,572 9,873 10,339 Contributions in relations to charter required contribution or ADC (9,122) (9,154) (9,863) (9,572) (9,873) (10,339) Contribution deficiency (excess) $ — — — — — —
Covered payroll^ $ 150,037 157,315 153,769 154,437 165,968 182,474 Contributions as a percentage of covered payroll 6.08% 5.82% 6.41% 6.20% 5.95% 5.67% Wastewater
Charter Required or Actuarially determined contributions (ADC) $ 3,264 3,252 3,506 3,263 3,365 3,412 Contributions in relations to charter required contribution or ADC (3,264) (3,252) (3,506) (3,263) (3,365) (3,412) Contribution deficiency (excess) $ — — — — — —
Covered payroll^ $ 53,306 55,919 52,415 52,641 54,766 60,212 Contributions as a percentage of covered payroll 6.12% 5.82% 6.69% 6.20% 6.14% 5.67% Hetchy Water
Charter Required or Actuarially determined contributions (ADC) $ 870 935 985 929 975 1,038 Contributions in relations to charter required contribution or ADC (870) (935) (985) (929) (975) (1,038) Contribution deficiency (excess) $ — — — — — —
Covered payroll^ $ 15,329 15,714 14,929 15,260 16,649 18,305 Contributions as a percentage of covered payroll 5.68% 5.95% 6.60% 6.09% 5.86% 5.67% Hetchy Power
Charter Required or Actuarially determined contributions (ADC) $ 1,064 1,143 1,204 1,136 1,192 1,268 Contributions in relations to charter required contribution or ADC (1,064) (1,143) (1,204) (1,136) (1,192) (1,268) Contribution deficiency (excess) $ — — — — — —
Covered payroll^ $ 18,734 19,205 18,246 18,652 20,349 22,373 Contributions as a percentage of covered payroll 5.68% 5.95% 6.60% 6.09% 5.86% 5.67% CleanPowerSF
Charter Required or Actuarially determined contributions (ADC) $ 40 75 132 187 155 282 Contributions in relations to charter required contribution or ADC (40) (75) (132) (187) (155) (282) Contribution deficiency (excess) $ — — — — — —
Covered payroll^ 1,236 2,112 3,007 2,426 4,527 4,977 Contributions as a percentage of covered payroll 3.24% 3.55% 4.39% 7.71% 3.42% 5.67% SFPUC Total
Charter Required or Actuarially determined contributions (ADC) $ 14,360 14,559 15,690 15,087 15,560 16,339 Contributions in relations to charter required contribution or ADC (14,360) (14,559) (15,690) (15,087) (15,560) (16,339) Contribution deficiency (excess) $ — — — — — —
Covered payroll^ $ 238,642 250,265 242,366 243,416 262,258 288,342 Contributions as a percentage of covered payroll 6.02% 5.82% 6.47% 6.20% 5.93% 5.67%

City - City Plan and Measurement Period

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Schedule of Changes in Net Position – Dollar and Percentage Change vs. Prior Year Proprietary Funds
June 30, 2023 and 2022
(In thousands)

182 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

(continued)

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...........................................................$ (58,069) (12.6) 70,741 24.8 (17,217) (18.3) 34,593 18.2 42,423 75.4 — — 72,471 6.7 Cash and investments outside City Treasury......................................................xx (126) (39.6) (224) (56.4) (1) (100.0) 138 862.5 — — — — (213) (29.1) Receivables: xx
Charges for services (net of allowance for doubtful xx
accounts of $8,615, $10,060, $0, $3,923, and $7,923 in 2023 and xx $3,915, $4,273, $0, $1,297, and $6,330 in 2022)............................................xx 2,203 3.6 (228) (0.6) (70) (14.7) 2,088 20.5 (7,078) (14.5) — — (3,085) (1.9) Wholesale balancing account, current portion....................................................xx 5,571 100.0 — — — — — — — — — — 5,571 100.0 Due from other City departments, current portion...............................................xx (63) (35.4) (97) (43.1) — — 267 30.8 — — (2) (1.8) 105 9.1 Due from other governments...............................................................................xx — — (25) (100.0) 1,211 236.5 348 116.8 — — — — 1,534 183.7 Interest .................................................................................................................xx 2,222 556.9 1,864 593.6 255 637.5 1,302 647.8 498 816.4 — — 6,141 605.0 Interest-Leases ...................................................................................................xx 27 3.1 — — — — — — — — — — 27 3.1 Restricted due from other governments..............................................................xx 28,594 378.6 (188,853) (93.1) — — — — — — — — (160,259) (76.2) Leases receivable, current portion…...................................................................xx 196 5.9 212 100.0 — — — — — — — — 408 12.3 Restricted interest and other receivable (net of allowance for doubtful accounts of $30, $99, $0, $0 and $0 in 2023 and
$146, $385, $0, $0 and $0 in 2022)................................................................xx (632) (15.3) (1,110) (48.2) — — (152) (3.5) — — — — (1,894) (17.6) Total current receivables.............................................................................xx 38,118 48.7 (188,237) (76.5) 1,396 135.9 3,853 24.3 (6,580) (13.5) (2) (1.8) (151,452) (38.9) Prepaid charges, advances, and other receivables, current portion...................xx (6,271) (51.5) 224 64.7 (124) (57.4) (332) (17.4) (4,909) (46.5) — — (11,412) (45.3) Inventory...............................................................................................................xx 1,389 20.4 382 12.9 22 11.1 (59) (3.5) — — — — 1,734 14.9 Restricted cash and investments outside City Treasury, current portion...........xx (200) (1.8) 33,130 212.5 — — 143 2.7 — — — — 33,073 103.7 Total current assets.....................................................................................xx (25,159) (4.4) (83,984) (15.3) (15,924) (16.7) 38,336 17.9 30,934 26.8 (2) (1.8) (55,799) (3.6) Non-current assets: xx
Restricted Net pension asset...............................................................................xx (100,407) (100.0) (48,770) (100.0) (13,912) 100.0 (17,004) (100.0) (1,833) (100.0) — — (181,926) (100.0) Restricted cash and investments with City Treasury..........................................xx 11,701 125.8 38,574 100.0 10,980 100.0 17,606 100.0 — — — — 78,861 848.1 Restricted cash and investments outside City Treasury, less current portion...xx 1,588 2.4 42,668 179.5 — — (4,984) (56.5) — — — — 39,272 40.3 Leases receivable, less current portion…...........................................................xx (2,731) (6.4) 1,245 100.0 — — — — — — — — (1,486) (3.5) Restricted interest and other receivable, and prepaid (net of allowance for doubtful accounts of $8, $29, $0, $0, and $0 in 2023 and xx $8, $29, $0, $0, and $0 in 2022)……………......................................................xx — — (17) (3.9) — — — — — — — — (17) (3.9) Charges for services, less current portion (net of allowance for doubtful accounts of $656, $566, $0, $0, and $0 in 2023 and xx
$656, $567, $0, $0, and $0 in 2022)…………...................................................xx 2 1.0 — — — — — — — — — — 2 0.4 Wholesale balancing account, less current portion.............................................xx 4,481 100.0 — — — — — — — — — — 4,481 100.0 Note receivable - Balboa Reservoir, less current portion…................................xx 11,007 100.0 — — — — — — — — — — 11,007 100.0 Prepaid charges, advances, and other receivables, less current portion...........xx (354) (9.4) (41) (3.5) (5) (3.4) 150 1.6 (812) (6.6) — — (1,062) (4.0) Right-to-use Lease assets, net of accumulated amortization.............................xx 1,131 40.2 (2,325) (64.6) 84 137.7 105 143.8 (230) (100.0) — — (1,235) (18.2) Right-to-use Subscription asset, net of accumulated amortization….................xx (882) (55.9) (535) (55.9) (177) (56.4) (142) (55.5) (41) (57.7) — — (1,777) (56.0) Capital assets, not being depreciated and amortized.........................................xx 82,621 14.8 508,546 28.7 18,312 31.9 35,628 13.4 — — — — 645,107 24.3 Capital assets, net of accumulated depreciation and amortization.....................xx (51,901) (1.0) 129,655 5.7 435 0.3 25,682 8.0 — — — — 103,871 1.3 Due from other City departments, less current portion.......................................xx — — — — — — (585) (5.3) — — 113 21.8 (472) (4.5) Total non-current assets.............................................................................xx (43,744) (0.7) 669,000 16.2 15,717 7.3 56,456 8.9 (2,916) (20.3) 113 21.8 694,626 6.4 Total assets.................................................................................................xx (68,903) (1.1) 585,016 12.5 (207) (0.1) 94,792 11.2 28,018 21.6 111 17.6 638,827 5.2 Deferred outflows of resources
Unamortized loss on refunding of debt................................................................xx (14,846) (10.6) (25) (75.8) — — — — — — — — (14,871) (10.7) Pensions..............................................................................................................xx 17,249 32.6 7,223 28.5 2,162 32.3 2,643 32.3 440 51.6 — — 29,717 31.6 Other post-employment benefits.........................................................................xx (3,829) (11.8) (1,405) (10.9) (24) (0.7) (30) (0.8) 211 26.4 — — (5,077) (9.5) Total deferred outflows of resources...........................................................$ (1,426) (0.6) 5,793 15.1 2,138 21.4 2,613 21.4 651 39.5 — — 9,769 3.4

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, 2023 and 2022
(In thousands)

183 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

See accompanying auditors’ report.
$ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change Liabilities
Cur
rent liabilities:

Accounts payable.......................................................................$ (181) (0. 8) 619 2.7 (7,421) (87.8) 8,302 49.8 818 3.5 — — 2,137 2.3 Accrued payroll...........................................................................xx 1,312 12.5 1,229 19.2 154 14.0 357 13.3 170 45.6 — — 3,222 15.3 Accrued vacation and sick leave, current portion......................xx 169 2.5 561 10.2 98 9.5 120 6.9 115 41.2 — — 1,063 6.9 Accrued workers’ compensation, current portion......................xx 214 12.6 116 8.3 1 0.5 1 0.3 — — — — 332 9.0 Due to other City departments, current portion..........................xx 2,440 — 2,104 1,895.5 — — 1,566 412.1 — — (2) (1.8) 6,108 1,607.4 Damage claims liability, current portion.....................................xx 934 9.2 (7, 673) (82.3) 72 31.6 92 25.7 1 6.7 — — (6,574) (32.7) Unearned revenues, refunds, and other, current portion...........xx (5,160) (27.0) 320 5.2 86 358.3 (43) (0.7) 1,950 46.5 — — (2,847) (8.0) Bond, loan, lease and subscription interest payable..................xx (351) (1.0) 6,450 30.0 (1) (33.3) 268 20.2 (1) (100.0) — — 6,365 10.9 Bonds, current portion................................................................xx 9,810 7.8 (6, 275) (18.3) — — (376) (19.1) — — — — 3,159 2.0 Certificates of participation, current portion...............................xx 129 4.1 34 4.1 — — 18 4.2 — — — — 181 4.1 Commercial paper, current portion............................................xx (206,297) (100.0) (379, 157) (100.0) — — (40,019) (100.0) — — — — (625,473) (100.0) State revolving funds loans payable, current portion……………xx (3,283) (100.0) 45 1.8 — — — — — — — — (3,238) (56.2) Lease liability, current portion….................................................xx 181 18.0 (1, 044) (44.6) 13 433.3 16 533.3 (232) (100.0) — — (1,066) (29.7) Subscription liability, current portion….......................................xx (448) (52.8) (272) (52.8) (90) (52.9) (72) (52.6) (21) (53.8) — — (903) (52.8) Wholesale balancing account, current portion...........................xx (48,422) (100.0) — — — — — — — — — — (48, 422) (100.0) Current liabilities payable from restricted assets.......................xx 15,510 61.2 32,920 36.6 (577) (9.1) 4,060 21.3 — — — — 51,913 36.9 Total current liabilities...............................................................xx (233,443) (44.9) (350, 023) (60.1) (7,665) (43.7) (25,710) (28.2) 2,800 9.8 (2) (1.8) (614,043) (49.5) Long-term liabilities: xx
Arbitrage rebate payable.............................................................xx — — 188 100.0 — — — — — — — — 188 100.0 Other post-employment benefits obligations.............................xx 4,486 3.1 (88) (0.2) 667 4.7 815 4.7 1,789 79.0 — — 7,669 3.4 Net pension liability.....................................................................xx 115,343 100.0 49,549 100.0 14,105 100.0 17,239 100.0 2,124 100.0 — — 198,360 100.0 Accrued vacation and sick leave, less current portion...............xx (313) (4.6) 200 3.7 (1 ) (0.1) (1) (0.1) 82 30.7 — — (33) (0.2) Accrued workers’ compensation, less current portion..............xx 548 7.5 336 5.5 ( 10) (1.0) (13) (0.7) — — — — 861 5.3 Due to other City departments, less current portion..................xx — — (113) (21.8) — — — — — — 113 21.8 — — Damage claims liability, less current portion.............................xx (17,378) (67.2) (22) (0.8) 1 0.3 5,035 757.1 1 5.9 — — (12,363) (41.7) Unearned revenues, refunds, and other, less current portion...xx — — — — (110) (100.0) (224) (27.9) (9,000) (100.0) — — (9,334) (94.1) Bonds, less current portion........................................................xx (159,899) (3.4) 811,932 42.8 — — (3,178) (1.7) — — — — 648,855 9.5 Revenue Notes, less current portion..........................................xx — — (800) (0.2) — — — — — — — — (800) (0.2) Certificates of participation, less current portion........................xx (3,267) (3.5) (864) (3.5) — — (445) (3.5) — — — — (4,576) (3.5) Commercial paper, less current portion....................................xx 371,459 100.0 — — — — 116,352 100.0 — — — — 487,811 100.0 State revolving funds loans payable, less current portion………xx 45,149 38.1 15,985 5. 3 — — — — — — — — 61,134 14.6 Water Infrastructure Finance and Innovation Act (WIFIA) loansxx — — 122,357 100.0 — — — — — — — — 122,357 100.0 Lease liability, less current portion….........................................xx 966 52.1 (1, 297) (100.0) 63 106.8 78 108.3 — — — — (190) (5.8) Subscription liability, less current portion…...............................xx (400) (56.5) (243) (56.6) (80) (57.6) (65) (56.0) (18) (58.1) — — (806) (56.6) Wholesale balancing account, less current portion...................xx (30,728) (100.0) — — — — — — — — — — (30, 728) (100.0) Pollution remediation obligations................................................xx — — (260) (3.2) — — — — — — — — (260) (2.8) Total long-term liabilities...........................................................xx 325,966 6.3 996,860 37.7 14,635 85.6 135,593 59.5 (5,022) (43.4) 113 21.8 1,468,145 18.2 Total liabilities...........................................................................xx 92,523 1.6 646,837 20.0 6,970 20.1 109,883 34.4 (2,222) (5.5) 111 17.6 854,102 9.2 Deferred inflows of resources xx
Unamortized gain on refunding of debt…...................................xx — — 11,353 100.0 — — — — — — — — 11,353 100.0 Related to pensions....................................................................xx (220,200) (88.5) (104, 647) (91.3) (30,335) (88.0) (37,076) (88.0) (4,118) (76.1) — — (396,376) (89.0) Leases…....................................................................................xx (3,025) (6.8) 1,453 100.0 — — — — — — — — (1,572) (3.5) Other post-employment benefits................................................xx 1,727 6.8 (354) (4.1) 350 12.8 427 12.8 1,328 83.3 — — 3,478 8.3 Total deferred inflows of resources.........................................xx (221,498) (69.5) (92, 195) (74.8) (29,985) (80.6) (36,649) (80.6) (2,790) (39.8) — — (383,117) (72.1) Net position xx
Net investment in capital assets...................................................xx (39,104) (6.7) 142,505 13.0 18,747 9.3 (15,881) (4.5) — — — — 106,267 4.8 Restricted for debt service...........................................................xx (46) (0.3) (1, 881) (34.9) — — (84) (60.0) — — — — (2,011) (10.0) Restricted for capital projects.......................................................xx 15,959 100.0 (114, 657) (100.0) 5,233 100.0 — — — — — — (93,465) (81.5) Restricted for other purposes.......................................................xx (100,407) (100.0) (48, 770) (100.0) (13,912) (100.0) (17,004) — (1,833) — — — (181,926) (100.0) Unrestricted..................................................................................xx 182,244 (274.9) 58,970 58.3 14,878 43.4 57,140 45.8 35,514 43.1 — — 348,746 126.1 Total net position......................................................................$ 58,646 9.3 36,167 2.7 24,946 10.0 24,171 4.9 33,681 39.9 — — 177,611 6.3

Business Type Activities – Proprietary Funds
Water Wastewater SFPUC TotalHetchy Power EliminationsHetchy Water CleanPowerSF 184 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

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, 2023 and 2022
(In thousands)

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

Charges for services................................................................................$ 121,715 22.6 (1,550) (0.4) 3,370 6.8 30,742 17.8 68,884 26.7 223,161 16.2 Rents and concessions............................................................................xx (483) (3.5) 117 16.6 15 13.4 19 13.9 — — (332) (2.3) Capacity fees............................................................................................xx (907) (41.9) (3,203) (51.0) — — — — — — (4,110) (48.7) Other revenues.........................................................................................xx (2,351) (13.3) (310) (5.3) — — — — — — (2,661) (11.3) Total operating revenues......................................................................xx 117,974 20.6 (4,946) (1.3) 3,385 6.9 30,761 17.8 68,884 26.7 216,058 15.2 Operating expenses: xx
Personnel services...................................................................................xx 52,324 62.7 26,270 41.4 2,788 17.8 4,654 13.4 6,568 157.6 92,604 46.0 Contractual services.................................................................................xx 4,357 34.7 2,205 11.9 281 10.5 1,360 14.4 (221) (3.3) 7,982 15.9 Transmission/distribution and other power costs....................................xx — — — — — — 19,059 37.0 34 17.7 19,093 36.9 Purchased electricity................................................................................xx — — — — — — 1,347 20.0 25,606 10.7 26,953 10.9 Materials and supplies..............................................................................xx 4,327 27.5 2,462 20.8 243 17.8 342 15.1 24 72.7 7,398 23.7 Depreciation and amortization..................................................................xx 6,937 4.7 (66) (0.1) 44 0.7 108 0.6 (115) (29.9) 6,908 2.7 Services provided by other departments..................................................xx 6,603 9.0 1,354 3.4 263 8.4 2,421 38.7 681 18.8 11,322 9.0 General and administrative and other.......................................................xx (16,059) (23.6) (28,033) (61.6) (5,907) (25.7) 5,918 21.4 86 1.2 (43,995) (25.6) Total operating expenses.....................................................................xx 58,489 14.6 4,192 1.6 (2,288) (4.4) 35,209 22.5 32,663 12.5 128,265 11.4 Operating income (loss).......................................................................xx 59,485 34.7 (9,138) (8.2) 5,673 (189.9) (4,448) 26.3 36,221 (857.5) 87,793 30.0 Non-operating revenues (expenses): xx
Federal and state grants...........................................................................xx (5,931) (100.0) (20,559) (99.3) 1,177 261.6 (3,987) (81.0) (1,251) (51.6) (30,551) (88.7) Interest and investment income (loss).....................................................xx 22,052 (202.4) 9,643 (136.1) 3,389 (115.6) 7,742 (193.5) 1,691 (131.5) 44,517 (169.9) Interest expenses......................................................................................xx (1,232) (0.6) (17,769) (22.9) (1) (33.3) (3,859) (68.6) 5 83.3 (22,856) (7.7) Amortization of premium, discount, refunding loss, and issuance costsxx 96 1.0 5,965 70.8 — — 1,776 (925.0) — — 7,837 43.3 Net gain from sale of assets.....................................................................xx 11,581 1,073.3 92 418.2 (3) (42.9) (6) (66.7) — — 11,664 1,044.2 Other non-operating revenues..................................................................xx (6,842) (19.6) 4,923 104.3 208 945.5 1,835 16.9 (10) (3.0) 114 0.2 Other Non-operating expenses.................................................................xx (947) (114.4) (53) (11.0) (17) (45.9) 364 61.6 (218) 100.0 (871) (44.9) Net non-operating revenues (expenses)..............................................xx 18,777 10.8 (17,758) (34.5) 4,753 (190.7) 3,865 72.2 217 14.8 9,854 (4.5) Change in net position before capital contributions and transfers.......xx 78,262 (3,393.8) (26,896) (44.6) 10,426 190.3 (583) (2.6) 36,438 (1,321.7) 97,647 135.6 Capital contributions....................................................................................xx 2,717 100.0 2,740 100.0 — — 2,535 100.0 — — 7,992 100.0 Transfers from the City and County of San Francisco................................xx (15,030) (100.0) 75 100.0 (10,001) (33.3) — — — — (24,956) (55.4) Transfers to the City and County of San Francisco....................................xx 10,634 (34.7) 129 (80.1) — — 500 94.0 — — 11,263 (35.9) Net capital contributions and transfers….............................................xx (1,679) 10.7 2,944 (1,828.6) (10,001) (33.3) 3,035 (570.5) — — (5,701) (41.7) Change in net position..............................................................................xx 76,583 (427.0) (23,952) (39.8) 425 1.7 2,452 11.3 36,438 (1,321.7) 91,946 107.3 Net position at beginning of year.................................................................. xx (17,937) (2.8) 60,119 4.6 24,521 10.9 21,719 4.6 (2,757) (3.2) 85,665 3.1 Net position at end of year...........................................................................$ 58,646 9.3 36,167 2.7 24,946 10.0 24,171 4.9 33,681 39.9 177,611 6.3

Water

Business Type Activities – Proprietary Funds
SFPUC TotalWastewater Hetchy Water Hetchy Power CleanPowerSF 185 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023 Independent Auditor’s 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 Honorable Mayor and the 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 ( Government Auditing Standards ), the financial statements of the San Francisco Public Utilities Commission (SFPUC) as of and for the year ended June 30, 2023, and the related notes to the financial statements, and have issued our report thereon dated January 26, 2024.

Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the 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 the SFPUC’s internal control.

Accordingly, we do not express an opinion on the effectiveness of the 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 or significant deficiencies may exist that were not identified.

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the 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.
www.mgocpa.com Macias Gini & O’Connell LLP
2121 N. California Blvd., Suite 750
Walnut Creek, CA 94596
186 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

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 the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

Walnut Creek, California
January 26, 2024

187 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

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
An Enterprise Department of the City and County of San Francisco, California 188 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Statistical Section

Financial Trends

Comparative Highlights of Revenues and Expenses
Changes in Net Position
Summary of Net Position by Component

Investments in Capital Assets
Financial Trends
189 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Department-wide
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2023 and 2022#
(Dollars in Thousands)

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs).

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

Financial Trends
190 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Water Fund
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2023 and 2022#
(Dollars in Thousands)

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs).

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

Financial Trends
191 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Wastewater Fund
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2023 and 2022#
(Dollars in Thousands)

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs).

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

Financial Trends
192 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Hetchy Water Fund
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2023 and 2022#
(Dollars in Thousands)

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs).

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

Financial Trends
193 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Hetchy Power Fund
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2023 and 2022#
(Dollars in Thousands)

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs).

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

Financial Trends
194 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

CleanPowerSF
Comparative Highlights of Revenues & Expenses
Fiscal Years Ended 2023 and 2022#
(Dollars in Thousands)

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs).

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

195 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023 Financial Trends
Department-wide - Changes in Net Position
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)

_______________________________________________________________________________________________________

(Continued)

^Fiscal year 2021 implementation of GASB Statement No. 87, Leases.

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

Revenues: 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Charges for services $ 733,746 792,199 807,259 895,472 989,842 1,172,573 1,303,411 1,259,466 1,375,765 1,598,926 Rents and concessions 11,727 13,336 13,096 9,734 13,813 13,989 13,135 14,624 14,719 14,387 Other operating revenues 28,944 24,317 25,672 22,445 29,043 32,296 32,217 27,182 31,962 25,191 Subtotal operating revenues 774,417 829,852 846,027 927,651 1,032,698 1,218,858 1,348,763 1,301,272 1,422,446 1,638,504 Interest and investment income/(loss) 15,083 8,175 6,060 8,511 11,694 46,639 32,103 30 (26,202) 18,315 Other non-operating revenues 41,946 63,430 51,972 58,422 55,705 52,483 129,198 72,337 86,326 67,553 Subtotal non-operating revenues 57,029 71,605 58,032 66,933 67,399 99,122 161,301 72,367 60,124 85,868 Total revenues $ 831,446 901,457 904,059 994,584 1,100,097 1,317,980 1,510,064 1,373,639 1,482,570 1,724,372 ^
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Dollars in Thousands
Department-wide Revenues
Other non-operating revenues
Interest and investment income/(loss)
Other operating revenues
Rents and concessions
Charges for services
196 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023 Financial Trends
Department-wide - Changes in Net Position
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)

_______________________________________________________________________________________________________

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs). *Fiscal year 2023, Capital Contributions of $7,992 was from a developer for HOPE SF projects, fiscal year 2021, Capital Contributions of $4,180 was from Department of Public Works, and fiscal year 2014, Capital contributions of $678 was from Department of Emergency Management. ^Fiscal year 2021 implementation of GASB Statement No. 87, Leases. **Fiscal year 2018, Wastewater Enterpri se recorded certain immaterial corrections to the 2018 financial statement to eliminate the recognition 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.
⌂Fiscal year 2018 implementation of GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions. ~Fiscal year 2015 implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions. ^^ 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 Statements.

Expenses: 2014 2015 2016 2017 2018 2019 2020 2021 2022# 2023 Personnel services $ 252,068 220,385 227,930 365,494 271,888 248,189 275,892 291,245 201,290 293,894 Contractual services 30,133 35,216 34,915 31,563 39,408 44,832 50,821 48,299 50,048 58,030 Purchased power & related costs 26,215 20,296 26,792 43,407 64,732 170,275 223,601 233,682 297,990 344,036 Materials and supplies 26,411 24,842 26,128 23,972 28,024 25,130 26,695 25,554 31,228 38,626 Depreciation and amortization 152,742 163,525 173,978 191,997 193,457 200,712 226,194 241,810 251,516 258,424 Services provided by other departments 96,918 104,535 106,476 105,417 102,199 108,043 109,444 121,130 125,955 137,277 General and administrative and
Other operating expenses 101,473 88,559 88,615 98,327 106,960 130,003 136,755 188,105 171,654 127,659 Subtotal operating expenses 685,960 657,358 684,834 860,177 806,668 927,184 1,049,402 1,149,825 1,129,681 1,257,946 Interest expenses 165,345 161,712 178,864 179,819 192,183 224,867 237,271 221,622 297,068 319,924 Amortization of premium, discount,
refunding loss, and issuance costs (13,908) (10, 554) (11,950) (15,090) (19,188) (23,722) (22,627) (16,498) (18,105) (25,942) Non-operating expenses 5,206 7,916 4,439 4,466 4,129 3,766 1,652 3,582 1,938 2,809 Subtotal non-operating expenses 156,643 159,074 171,353 169,195 177,124 204,911 216,296 208,706 280,901 296,791 Total expenses 842,603 816,432 856,187 1,029,372 983,792 1,132,095 1,265,698 1,358,531 1,410,582 1,554,737 Change in net position before capital contributions,
transfers and extraordinary item (11,157) 85,025 47,872 (34,788) 116,305 185,885 244,366 15,108 71,988 169,635 Capital contributions 678 — — — — — — 4,180 — 7, 992
Transfers in (out) 386 52,806 17,899 (30,644) (28,371) 1,360 (805) 17,091 13,677 (16) Extraordinary item:

Rim fire — loss (6,843) — — — — — — — — —
Change in net position (16,936) 137,831 65,771 (65,432) 87,934 187,245 243,561 36,379 85,665 177,611 Net position at beginning of year
Beginning of year, as previously reported 2,366,565 2,349,629 2,225, 451 2,292,646 2,225,790 2,270,925 2,458,170 2,701,731 2,738,110 2,823,775 Cumulative effect of accounting change due to error — — — — (6, 767) — — — — — Cumulative effect of accounting change — (262,009) — — (36, 032) — — — — — Less: CleanPowerSF beginning net position — — — (1, 424) — — — — — — Beginning of year as restated 2,366,565 2,087,620 2,225, 451 2,291,222 2,182,991 2,270,925 2,458,170 2,701,731 2,738,110 2,823,775 Net position at end of year $ 2,349,629 2,225,451 2,291, 222 2,225,790 2,270,925 2,458,170 2,701,731 2,738,110 2,823,775 3,001,386

^^
⌂
^^
**
~
*

Financial Trends
Water - Changes in Net Position
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
197 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

_______________________________________________________________________________________________________

(Continued)
^Fiscal year 2021 implementation of GASB Statement No. 87, Leases.

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

Revenues: 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Charges for services $ 354,827 400,023 393,582 438,207 495,138 509,703 550,753 550,306 539,526 661,241 Rents and concessions 10,675 12,284 12,081 8,813 12,906 13,010 12,124 13,735 13,765 13,282 Other operating revenues 14,380 13,740 13,853 13,311 17,595 19,678 20,474 18,395 19,826 16,568 Subtotal operating revenues 379,882 426,047 419,516 460,331 525,639 542,391 583,351 582,436 573,117 691,091 Interest and investment income/(loss) 10,907 5,789 3,595 4,331 6,448 15,650 10,517 1,374 (10,896) 11,156 Other non-operating revenues 29,197 47,314 31,253 37,405 39,064 32,399 94,734 45,874 41,871 40,679 Subtotal non-operating revenues 40,104 53,103 34,848 41,736 45,512 48,049 105,251 47,248 30,975 51,835 Total revenues $ 419,986 479,150 454,364 502,067 571,151 590,440 688,602 629,684 604,092 742,926 ^

Financial Trends
Water - Changes in Net Position
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
198 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

_______________________________________________________________________________________________________

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

Expenses: 2014 2015 2016 2017 2018 2019 2020 2021 2022# 2023 Personnel services $ 119,849 99,192 103,027 182,034 128,295 111,594 119,943 132,528 83,385 135,709 Contractual services 10,921 12,729 13,451 10,664 14,131 13,715 14,523 14,029 12,562 16,919 Materials and supplies 12,154 12,667 12,896 12,564 15,936 13,421 14,050 13,175 15,719 20,046 Depreciation and amortization 89,026 95,384 106,666 118,826 118,751 120,815 142,228 145,444 148,777 155,714 Services provided by other departments 54,856 60,365 60,868 59,173 56,860 59,751 61,128 70,235 73,307 79,910 General and administrative and
Other operating expenses 46,749 16,613 17,878 38,566 36,174 37,798 46,245 73,371 68,014 51,955 Subtotal operating expenses 333,555 296,950 314,786 421,827 370,147 357,094 398,117 448,782 401,764 460,253 Interest expenses 136,645 137,106 153,258 148,075 164,001 177,998 191,246 184,678 213,681 214,913 Amortization of premium, discount, refunding loss,
and issuance costs (6,169) (6,100) (8,849) (9,029) (13, 540) (17,788) (13,752) (7,782) (9,875) (9,971) Non-operating expenses 2,089 4,829 2,210 2,607 1,920 1,388 529 2,208 828 1,775 Subtotal non-operating expenses 132,565 135,835 146,619 141,653 152,381 161,598 178,023 179,104 204,634 206,717 Total expenses 466,120 432,785 461,405 563,480 522,528 518,692 576,140 627,886 606,398 666,970 Change in net position before capital contributions
and transfers (46,134) 46,365 (7,041) (61,413) 48,623 71,748 112,462 1,798 (2,306) 75,956 Capital contributions 310 — — — — — — 4,180 — 2, 717
Transfers in (out) 405 50,995 33,244 (59,988) (30, 986) (19,134) (13,585) 4,371 (15,631) (20,027) Change in net position (45,419) 97,360 26,203 (121,401) 17,637 52,614 98,877 10,349 (17,937) 58,646 Net position at beginning of year
Beginning of year, as previously reported 699,631 654,212 596,465 622,668 501,267 489,524 542,138 641,015 651,364 633,427 Cumulative effect of accounting change — (155,107) — — (29,380) — — — — — Beginning of year as restated 699,631 499,105 596,465 622,668 471,887 489,524 542,138 641,015 651,364 633,427 Net Position at end of year $ 654,212 596,465 622,668 501,267 489,524 542,138 641,015 651,364 633,427 692,073 ~ ⌂
*
^

Financial Trends
Wastewater - Changes in Net Position
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
199 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

_______________________________________________________________________________________________________

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

Revenues: 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Charges for services $ 244,705 244,604 249,203 267,601 303,037 317,761 331,721 318,236 356,041 354,491 Rents and concessions 828 821 753 606 611 702 664 642 705 822 Other operating revenues 14,564 10,577 11,819 9,134 11,448 12,618 11,743 8,787 12,136 8,623 Subtotal operating revenues 260,097 256,002 261,775 277,341 315,096 331,081 344,128 327,665 368,882 363,936 Interest and investment income/(loss) 2,400 1,207 1,185 2,327 2,317 20,701 12,137 (1,187) (7,087) 2,556 Other non-operating revenues 6,882 6,564 8,263 8,633 5,330 6,164 5,596 4,911 25,454 9,910 Subtotal non-operating revenues 9,282 7,771 9,448 10,960 7,647 26,865 17,733 3,724 18,367 12,466 Total revenues $ 269,379 263,773 271,223 288,301 322,743 357,946 361,861 331,389 387,249 376,402

Financial Trends
Wastewater - Changes in Net Position
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
200 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

_______________________________________________________________________________________________________

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs). *Fiscal year 2023, Capital Contributions of $2,740 from a developer for HOPE SF projects. ^Fiscal year 2021 implementation of GASB Statement No. 87, Leases. **Fiscal year 2018, Wastewater Enterprise recorded certain immaterial corrections to the 2018 financial statement to eliminate the recognition 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.
⌂Fiscal year 2018 implementation of GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions. ~Fiscal year 2015 implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions. ^^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 Statements.

Expenses: 2014 2015 2016 2017 2018 2019 2020 2021 2022 # 2023 Personnel services $ 85,114 76,396 79,088 115,288 91,977 80,693 91,013 90,449 63,456 89,726 Contractual services 14,314 13,841 15,069 13,825 16,061 19,040 19,357 16,489 18,572 20,777 Materials and supplies 10,830 9,815 10,192 8,736 9,446 9,853 8,991 9,091 11,844 14,306 Depreciation and amortization 48,402 50,254 50,799 55,441 55,591 60,033 62,967 74,343 78,105 78,039 Services provided by other departments 35,274 36,212 36,157 36,832 36,374 36,629 37,309 38,313 39,645 40,999 General and administrative and
Other operating expenses 22,406 29,967 30,248 14,098 29,457 53,565 42,622 63,488 45,536 17,503 Subtotal operating expenses 216,340 216,485 221,553 244,220 238,906 259,813 262,259 292,173 257,158 261,350 Interest expenses 27,126 22,791 22,251 28,474 24,978 43,803 43,216 34,944 77,751 95,520 Amortization of premium, refunding loss,
and issuance costs (7,711) (5,347) (2,979) (5,806) (5,400) (5,697) (8,647) (8,497) (8,422) (14,387) Non-operating expenses 533 280 485 383 414 1,013 52 409 482 535 Subtotal non-operating expenses 19,948 17,724 19,757 23,051 19,992 39,119 34,621 26,856 69,811 81,668 Total expenses 236,288 234,209 241,310 267,271 258,898 298,932 296,880 319,029 326,969 343,018 Change in net position before capital contributions
and transfers 33,091 29,564 29,913 21,030 63,845 59,014 64,981 12,360 60,280 33,384 Capital contributions — — — — — — — — — 2,740
Transfers in (out) 19 (232) (16,025) (30,707) (26,960) (3,996) (1,188) (2,748) (161) 43 Change in net position 33,110 29,332 13,888 (9,677) 36,885 55,018 63,793 9,612 60,119 36,167 Net position at beginning of year
Beginning of year, as previously reported 1,148,757 1,181,867 1,142,052 1,155,940 1,146,263 1,174,125 1,229,143 1,292,936 1,302,548 1,362,667 Cumulative effect of accounting change due to error — — — — (6,767) — — — — — Cumulative effect of accounting change — (69,147) — — (2,256) — — — — — Beginning of year as restated 1,148,757 1,112,720 1,142,052 1,155,940 1,137,240 1,174,125 1,229,143 1,292,936 1,302,548 1,362,667 Net Position at end of year $ 1,181,867 1,142,052 1,155,940 1,146,263 1,174,125 1,229,143 1,292,936 1,302,548 1,362,667 1,398,834 ^^
~ ⌂
**
^
*

Financial Trends
Hetchy Water - Changes in Net Position
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
201 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

_______________________________________________________________________________________________________

(Continued)

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

Revenues: 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Charges for services $ 35,521 38,731 38,624 35,008 33,427 33,880 34,797 46,979 49,200 52,570 Rents and concessions 101 104 118 142 133 125 156 111 112 127 Subtotal operating revenues 35,622 38,835 38,742 35,150 33,560 34,005 34,953 47,090 49,312 52,697 Interest and investment income/(loss) 487 (74) (38) 46 218 2,670 1,932 (232) (2,932) 457 Other non-operating revenues 69 250 200 616 1,237 3,013 3,861 1,352 479 1,861 Subtotal non-operating revenues 556 176 162 662 1,455 5,683 5,793 1,120 (2,453) 2,318 Total revenues $ 36,178 39,011 38,904 35,812 35,015 39,688 40,746 48,210 46,859 55,015

Financial Trends
Hetchy Water - Changes in Net Position
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
202 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

_______________________________________________________________________________________________________

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs). ^Fiscal year 2021 implementation of GASB Statement No. 87, Leases. ⌂Fiscal year 2018 implementation of GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions. ~Fiscal year 2015 implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions. *Fiscal year 2014, Capital Contributions of $166 was from the Department of Emergency Management.

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

Expenses: 2014 2015 2016 2017 2018 2019 2020 2021 2022 # 2023 Personnel services $ 13,343 11,557 12,183 21,998 14,516 13,707 16,304 19,871 15,636 18,424 Contractual services 835 794 902 1,017 1,524 1,205 1,642 2,398 2,675 2,956 Materials and supplies 1,352 1,321 1,191 1,161 1,101 1,133 1,337 1,272 1,362 1,605 Depreciation and amortization 4,186 4,102 3,874 4,505 5,066 5,380 5,276 6,028 6,480 6,524 Services provided by other departments 1,211 1,979 2,054 1,962 1,572 1,622 1,853 2,517 3,129 3,392 General and administrative and
Other operating expenses 14,098 18,948 16,332 19,456 16,013 27,258 18,461 18,433 23,017 17,110 Subtotal operating expenses 35,025 38,701 36,536 50,099 39,792 50,305 44,873 50,519 52,299 50,011 Interest expenses — — — — — — — 2 3 4
Non-operating expenses 99 313 68 68 68 — 11 63 37 54
Total expenses 35,124 39, 014 36,604 50,167 39,860 50,305 44,884 50,584 52,339 50,069 Change in net position before capital contributions
transfers and extraordinary item 1,054 (3 ) 2,300 (14,355) (4,845) (10,617) (4,138) (2,374) (5,480) 4,946 Capital contributions 166 — — — — — — — — —
Transfers in (out) — — — 60,000 30,000 20,000 14,000 16,000 30,001 20,000 Extraordinary item:

Rim fire — loss (2,709) — — — — — — — — —
Change in net position (1,489) (3) 2,300 45,645 25,155 9,383 9,862 13,626 24,521 24,946 Net position at beginning of year
Beginning of year, as previously reported 138,893 137,404 120,411 122,711 168,356 191,790 201,173 211,035 224,661 249,182 Cumulative effect of accounting change — (16,990) — — (1, 721) — — — — — Beginning of year as restated 138,893 120,414 120,411 122,711 166,635 191,790 201,173 211,035 224,661 249,182 Net position at end of year $ 137,404 120,411 122,711 168,356 191,790 201,173 211,035 224,661 249,182 274,128

⌂~
^
*

Financial Trends
Hetchy Power - Changes in Net Position
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
203 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

_______________________________________________________________________________________________________

(Continued)

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

Revenues: 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Charges for services $ 98,693 108,841 125,850 120,789 118,672 143,409 140,680 136,247 173,105 203,847 Rents and concessions 123 127 144 173 163 152 191 136 137 156 Subtotal operating revenues 98,816 108,968 125,994 120,962 118,835 143,561 140,871 136,383 173,242 204,003 Interest and investment income/(loss) 1,289 1,253 1,318 1,718 2,537 6,883 5,746 24 (4,001) 3,741 Other non-operating revenues 5,798 9,302 12,256 11,764 10,073 10,907 25,006 19,273 15,763 13,605 Subtotal non-operating revenues 7,087 10,555 13,574 13,482 12,610 17,790 30,752 19,297 11,762 17,346 Total revenues $ 105,903 119,523 139,568 134,444 131,445 161,351 171,623 155,680 185,004 221,349

Financial Trends
Hetchy Power - Changes in Net Position
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
204 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

______________________________________________________________________________________________________

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs). ^Fiscal year 2021 implementation of GASB Statement No. 87, Leases. ⌂Fiscal year 2018 implementation of GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions. ~Fiscal year 2015 implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions. *Fiscal year 2014, Capital Contributions of $202 was from the Department of Emergency Management.

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

Expenses: 2014 2015 2016 2017 2018 2019 2020 2021 2022# 2023 Personnel services $ 33,762 33,240 33,632 44,961 34,950 37,583 40,712 40,756 34,646 39,300 Contractual services 4,063 7,852 5,493 4,916 5,526 6,086 7,742 8,705 9,459 10,819 Purchased power & related costs 26,215 20,296 26,792 20,970 34,435 47,437 48,831 42,693 58,252 78,658 Materials and supplies 2,075 1,039 1,849 1,510 1,541 672 2,260 1,990 2,270 2,612 Depreciation and amortization 11,128 13,785 12,639 13,225 14,049 14,484 15,723 15,650 17,769 17,877 Services provided by other departments 5,577 5,979 7,397 6,716 5,848 6,833 6,426 6,137 6,253 8,674 General and administrative and
Other operating expenses 18,220 23,031 24,157 24,637 23,046 9,593 26,433 29,709 27,694 33,612 Subtotal operating expenses 101,040 105,222 111,959 116,935 119,395 122,688 148,127 145,640 156,343 191,552 Interest expenses 1,574 1,815 3,355 3,200 3,103 2,936 2,740 1,972 5,627 9,486 Amortization of premium, discount,
and issuance costs (28) 893 (122) (255) (248) (237) (228) (219) 192 (1,584) Non-operating expenses 2,485 2,494 1,676 1,408 1,727 1,365 1,060 902 591 227 Total expenses 105,071 110,424 116,868 121,288 123,977 126,752 151,699 148,295 162,753 199,681 Change in net position before capital contributions
transfers and extraordinary item 832 9,099 22,700 13,156 7,468 34,599 19,924 7,385 22,251 21,668 Capital contributions 202 — — — — — — — — 2,535
Transfers in (out) (38) 2,043 680 51 (425) 4,490 (32) (532) (532) (32) Extraordinary item:

Rim fire — loss (4,134) — — — — — — — — —
Change in net position (3,138) 11,142 23,380 13,207 7,043 39,089 19,892 6,853 21,719 24,171 Net position at beginning of year
Beginning of year, as previously reported 379,284 376,146 366,523 389,903 401,686 406,626 445,715 465,607 472,460 494,179 Cumulative effect of accounting change — (20,765) — — (2,103) — — — — — Less: CleanPowerSF beginning net position — — — (1,424) — — — — — — Beginning of year as restated 379,284 355,381 366,523 388,479 399,583 406,626 445,715 465,607 472,460 494,179 Net position at end of year $ 376,146 366,523 389,903 401,686 406,626 445,715 465,607 472,460 494,179 518,350 ⌂~
*
^

Financial Trends
CleanPowerSF - Changes in Net Position
Fiscal Years Ended 2017 to 2023
(Dollars in Thousands)
205 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

_______________________________________________________________________________________________________

(Continued)

#Fiscal year 2020, Increase in charges for services is due to completion of city-wide enrollment. *Fiscal year 2016, CleanPowerSF was presented as part of Hetchy Power.

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

Revenues: 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Charges for services $ — — — 33,867 39,568 167,820 245,460 207,698 257,893 326,777 Rents and concessions — — — — — — — — — —
Subtotal operating revenues — — — 33,867 39,568 167,820 245,460 207,698 257,893 326,777 Interest and investment income/(loss) — — — 89 174 735 1,771 51 (1,286) 405 Other non-operating revenues — — — 4 1 — 1 927 2,759 1,498 Subtotal non-operating revenues — — — 93 175 735 1,772 978 1,473 1,903 Total revenues $ — — — 33,960 39,743 168,555 247,232 208,676 259,366 328,680

*Data not available -
CleanPowerSF launched in
May 2016.
#
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Dollars in Thousands
CleanPowerSF Revenues
Rents and concessions
Other non-operating revenues
Interest and investment income/(loss)
Charges for services
*Data not
available -
CleanPowerSF
launched in May
2016.

Financial Trends
CleanPowerSF - Changes in Net Position
Fiscal Years Ended 2017 to 2023
(Dollars in Thousands)
206 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

_______________________________________________________________________________________________________

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs). ^Fiscal year 2021 implementation of GASB Statement No. 87, Leases. ~Fiscal year 2020, Increase in purchased power and related costs was due to higher enrollment and electricity sales. ⌂Fiscal year 2018 implementation of GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions. *Fiscal year 2016, CleanPowerSF was presented as part of Hetchy Power.

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

Expenses: 2014 2015 2016 2017 2018 2019 2020 2021 2022# 2023 Personnel services $ 1,213 2,150 4,612 7,920 7,641 4,167 10,735 Contractual services 1,141 2,166 4,786 7,557 6,678 6,780 6,559 Purchased power & related costs 22,437 30,297 122,838 174,770 190,989 239,738 265,378 Materials and supplies 1 — 51 57 26 33 57 Depreciation and amortization — — — — 345 385 270 Services provided by other departments 734 1,545 3,208 2,728 3,928 3,621 4,302 General & administrative and
other operating expenses 1,570 2,270 1,789 2,994 3,104 7,393 7,479 Subtotal operating expenses — — — 27,096 38,428 137,284 196,026 212,711 262,117 294,780 Interest expenses — — — 70 101 130 69 26 6 1
Amortization of premium, discount,
and issuance costs — — — — — — — — — —
Other non-operating expenses - - - — - — — — — 218 Total expenses — — — 27,166 38,529 137,414 196,095 212,737 262,123 294,999 Change in net position - - - 6,794 1,214 31,141 51,137 (4,061) (2,757) 33,681 Net position at beginning of year - - - Beginning of year, as previously reported 1,424 8,218 8,860 40,001 91,138 87,077 84,320 Cumulative effect of accounting change — (572) — — — — — Beginning of year as restated 1,424 7,646 8,860 40,001 91,138 87,077 84,320 Net position at end of year $ - - - 8,218 8,860 40,001 91,138 87,077 84,320 118,001 *Data not available -
CleanPowerSF launched in May
2016.
⌂
~
^
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Dollars in Thousands
CleanPowerSF Expenses
Other non-operating 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.

Financial Trends
207 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Department-wide - Summary of Net Position by Component
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
_____________________________________________________________________________________________________________

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs). @Fiscal year 2021 implementation of GASB Statement No. 87, Leases. ⌂Fiscal year 2018 implementation of GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions. *Fiscal year 2015 implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions.

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Net investment in capital assets $ 1,769,815 1,859,439 2,011,814 1,979,445 2,087,816 2,147,756 2,194,130 2,271,638 2,230,525 2,336,792 Restricted for debt service 25,990 1,704 13,409 12,451 25,079 18,617 17,285 48,677 20,202 18,191 Restricted for capital projects 131,590 120,496 60,357 39,557 44,690 26,906 49,635 22,319 114,657 21,192 Restricted for other purposes — — — — — — — — 181,926 — Unrestricted 422,234 243,812 205,642 194,337 113,340 264,891 440,681 395,476 276,465 625,211 Total net position $ 2,349,629 2,225,451 2,291,222 2,225,790 2,270,925 2,458,170 2,701,731 2,738,110 2,823,775 3,001,386 @
^
* ⌂ #

Financial Trends
208 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Water - Summary of Net Position by Component
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
___________________________________________________________________________________________________________________

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Net investment in capital assets $ 366,799 425,073 543,327 495,868 504,476 563,457 527,856 517,302 584,646 545,542 Restricted for debt service 25,356 1,053 12,122 10,989 22,933 16,193 15,916 45,586 14,671 14,625 Restricted for capital projects 103,154 95,735 40,743 37,904 32,978 — 43,122 22,319 — 15,959 Restricted for other purposes — — — — — — — — 100,407 — Unrestricted 158,903 74,604 26,476 (43,494) (70,863) (37,512) 54,121 66,157 (66,297) 115,947 Total net position $ 654,212 596,465 622,668 501,267 489,524 542,138 641,015 651,364 633,427 692,073 * ⌂ @ #

Financial Trends
209 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Wastewater - Summary of Net Position by Component
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Net investment in capital assets $ 1,066,814 1,088,552 1,098,723 1,095,165 1,172,623 1,133,662 1,183,288 1,253,789 1,092,710 1,235,215 Restricted for debt service 634 349 981 977 1,312 1,279 1,227 2,992 5,391 3,510 Restricted for capital projects 22,929 20,327 18,205 1,653 — 18,505 — — 114,657 — Restricted for other purposes — — — — — — — — 48,770 —
Unrestricted 91,490 32,824 38,031 48,468 190 75,697 108,421 45,767 101,139 160,109 Total net position $ 1,181,867 1,142,052 1,155,940 1,146,263 1,174,125 1,229,143 1,292,936 1,302,548 1,362,667 1,398,834 * ⌂ @ #

Financial Trends
210 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Hetchy Water - Summary of Net Position by Component
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Net investment in capital assets $ 95,186 104,330 113,867 127,731 139,799 149,103 160,782 177,481 201,007 219,754 Restricted for debt service — — — — — — — — — —
Restricted for capital projects 5,507 4,434 1,409 — 11,712 8,401 6,513 — — 5,233 Restricted for other purposes — — — — — — — — 13,912 —
Unrestricted 36,711 11,647 7,435 40,625 40,279 43,669 43,740 47,180 34,263 49,141 Total net position $ 137,404 120,411 122,711 168,356 191,790 201,173 211,035 224,661 249,182 274,128

⌂* @ #

Financial Trends
211 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Hetchy Power - Summary of Net Position by Component
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Net investment in capital assets $ 241,016 241,484 255,897 260,681 270,918 301,534 322,204 323,066 352,162 336,281 Restricted for debt service — 302 306 485 834 1,145 142 99 140 56 Restricted for capital projects — — — — — — — — — —
Restricted for other purposes — — — — — — — — 17,004 —
Unrestricted 135,130 124,737 133,700 140,520 134,874 143,036 143,261 149,295 124,873 182,013 Total net position $ 376,146 366,523 389,903 401,686 406,626 445,715 465,607 472,460 494,179 518,350 * ⌂ @ #

Financial Trends
212 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

CleanPowerSF - Summary of Net Position by Component
Fiscal Years Ended 2017 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

#Restated due to the implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs). @Fiscal year 2021 implementation of GASB Statement No. 87, Leases. ^Fiscal year 2020, increase in Unrestricted Net Position is due to completion of city-wide enrollment. ⌂Fiscal year 2018 implementation of GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions.

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Net investment in capital assets $ — — — — — — —
Res
tricted for debt service — — — — — — —
Restricted for capital projects — — — — — — —
Restricted for other purposes — — — — — — — — 1,833 —
Unrestricted 8,218 8,860 40,001 91,138 87,077 82,487 118,001 Total net position $ 8,218 8,860 40,001 91,138 87,077 84,320 118,001 *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
$110,000
$120,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Dollars in Thousands
CleanPowerSF Net Position by Component
Net investment in capital assets Restricted for debt service Restricted for capital projects Restricted for other purposes Unrestricted Total net position *Data not available -
CleanPowerSF launched
in May 2016.

Financial Trends
213 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Department-wide Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

*Include amortizable and non -amortizable intangible assets. Right -to-Use lease and subscription assets are reported separately from intangible assets see Notes 10 and 11 in financial section.

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Buildings, equipment, structures and
Land improvements $ 6,790,353 7,800,455 8,565,038 8,736,914 9,084,980 10,483,615 10,957,712 11,369,025 11,783,944 12,137,657 Less accumulated depreciation (2,413,969) (2,572,737) (2,742,700) (2,930,531) (3,120,191) (3,316,443) (3,538,382) (3,773,696) (4,016,382) (4,265,309) Subtotal 4,376,384 5,227,718 5,822,338 5,806,383 5,964,789 7,167,172 7,419,330 7,595,329 7,767,562 7,872,348 Intangible assets, net of amortization* 39,122 38,885 36,674 34,904 36,956 34,853 32,528 35,102 34,731 33,816 Land and rights-of-way 67,290 67,213 67,213 67,301 70,947 71,228 155,089 154,001 163,194 163,075 Construction work in progress 2,012,810 1,625,592 1,436,187 1,841,297 2,161,089 1,387,840 1,592,097 2,079,754 2,485,201 3,130,427 Total capital assets, net of
depreciation and amortization $ 6,495,606 6,959,408 7,362,412 7,749,885 8,233,781 8,661,093 9,199,044 9,864,186 10,450,688 11,199,666

Financial Trends
214 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Water - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

*Include amortizable and non -amortizable intangible assets. Right -to-Use lease and subscription assets are reported separately from intangible assets see Notes 10 and 11 in financial section.

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Buildings, equipment and structures $ 3,594,412 4,497,411 5,036, 587 5,100,680 5,217,106 6,399,688 6,577,333 6,739,364 6,993,164 7,093,106 Less accumulated depreciation (962,863) (1, 054,987) (1,158,520) (1,274,504) (1,391,274) (1,509,481) (1,648,895) (1,791,178) (1,936,417) (2,087,439) Subtotal 2,631,549 3,442,424 3,878, 067 3,826,176 3,825,832 4,890,207 4,928,438 4,948,186 5,056,747 5,005,667 Intangible assets, net of amortization* 6,896 7,244 5,843 4,671 7,321 5,816 4,089 2,763 3,152 2,331 Land and rights-of-way 26,811 26,811 26,811 26,777 30,029 30,029 105,336 104,248 113,441 113,322 Construction work in progress 1,662,294 1,176,805 987,780 1,195,840 1,400,051 462,606 492,682 532,602 444,254 526,994 Total capital assets, net of
depreciation and amortization $ 4,327,550 4,653,284 4,898, 501 5,053,464 5,263,233 5,388,658 5,530,545 5,587,799 5,617,594 5,648,314

Financial Trends
215 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Wastewater - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

*Include amortizable and non -amortizable intangible assets. Right -to-Use lease and subscription assets are reported separately from intangible assets see Notes 10 and 11 in financial section.

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Buildings, equipment, structures and
Land improvements $ 2,588,575 2,665,863 2,842,648 2,904,499 3,094,871 3,271,188 3,520,624 3,702,375 3,832,594 4,036,536 Less accumulated depreciation (1,085,418) (1,134, 843) (1,185,275) (1,240,172) (1,295,323) (1,354,209) (1,416,292) (1,488,148) (1,562,239) (1,636,752) Subtotal 1,503,157 1,531,020 1,657,373 1,664,327 1,799,548 1,916,979 2,104,332 2,214,227 2,270,355 2,399,784 Intangible assets, net of amortization* 4,023 3,921 3,594 3, 457 3,320 3,183 3,046 7,407 7,107 7,333 Land and rights-of-way 35,737 35,737 35,737 35, 737 35,737 36,018 44,572 44,572 44,572 44,572 Construction work in progress 262,642 362,110 362,958 548, 179 652,521 765,624 910,338 1,340,644 1,724,417 2,232,963 Total capital assets, net of
depreciation and amortization $ 1,805,559 1,932,788 2,059,662 2,251,700 2,491,126 2,721,804 3,062,288 3,606,850 4,046,451 4,684,652

Financial Trends
216 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Hetchy Water - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

*Include amortizable and non -amortizable intangible assets. Right -to-Use lease and subscription assets are reported separately from intangible assets see Notes 10 and 11 in financial section.

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Buildings, equipment and structures $ 216,910 221,345 242,936 261,139 276,177 281,562 311,783 323,486 334,499 341, 203 Less accumulated depreciation (162,724) (166,546) (170,199) (174,352) (179,139) (184,312) (189,350) (195,151) (201, 236) (207,298) Subtotal 54,186 54,799 72,737 86,787 97,038 97,250 122,433 128,335 133,263 133,905 Intangible assets, net of amortization* 12,032 11,825 11,618 11,410 11,203 10,996 10,789 10,581 10,374 10, 167 Land and rights-of-way 3,038 3,003 3,003 3,055 3,232 3,232 3,232 3,232 3,232 3,232 Construction work in progress 25,922 34,703 26,509 26,479 28,326 37,625 24,328 35,333 54,138 72,450 Total capital assets, net of
depreciation and amortization $ 95,178 104,330 113,867 127,731 139,799 149,103 160,782 177,481 201,007 219,754

Financial Trends
217 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Hetchy Power - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

*Include amortizable and non -amortizable intangible assets. Right -to-Use lease and subscription assets are reported separately from intangible assets see Notes 10 and 11 in financial section.

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

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Buildings, equipment and structures $ 390,456 415,836 442,867 470,596 496,826 531,177 547,972 603,800 623,687 666,812 Less accumulated depreciation (202,964) (216,361) (228, 706) (241,503) (254,455) (268,441) (283,845) (299,219) (316,490) (333,820) Subtotal 187,492 199,475 214,161 229,093 242,371 262,736 264,127 304,581 307,197 332,992 Intangible assets, net of amortization* 16,171 15,895 15,619 15,366 15,112 14,858 14,604 14,351 14,098 13,985 Land and rights-of-way 1,704 1,662 1,662 1,732 1,949 1,949 1,949 1,949 1,949 1,949 Construction work in progress 61,952 51,974 58,940 70,799 80,191 121,985 164,749 171,175 262,392 298,020 Total capital assets, net of
depreciation and amortization $ 267,319 269,006 290,382 316,990 339,623 401,528 445,429 492,056 585,636 646,946

218 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Statistical Section

Revenue Capacity

Water Rates History
Wastewater Rates History
Hetchy Power Electric Rates History
CleanPowerSF Electric Rates History
Net Revenue and Debt Service Coverage
Revenue Capacity
219 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Water Rate History
Fiscal Years Ended 2014 to 2023
_______________________________________________________________________________________________________

1Monthly service charge for 5/8” meter. Larger meter sizes charged at different rates. 2Rates approved on May 13, 2014.
3Effective July 1, 2015, the Single-Family Residential Tier 1 changed from 0-3 ccf to 0-4 ccf. 4The percentage increase/(decrease) is based on an average monthly bill of 6 ccf for Single-Family and 4 ccf for Multiple-Family. 5Rates approved on May 8, 2018.
6Up to 5% temporary drought surcharge due to water shortage declaration was added to retail volume charge and effective through April 2023.

The temporary drought surcharge was in effect starting April 2022 but not shown for fiscal year 2022 as it was only in effect for April-June 2022.

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
($/ccf)
%
Increase/
(Decrease)
2014 8.40 4.20 5.50 6.5 4.50 5.90 6.9 5.40 5.9 2. 45 (16.4) Fiscal
Years
Ended
June 30
Service
Charge
($)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 2022 15.17 9.60 10.71 8.4 9.60 10.76 8.1 10.55 7.5 4.10 0.0 2023 15.17 10.08 11.25 4.0 10.08 11.30 3.6 11.08 5.0 4.75 15.9 Single-Family Multiple-Family Non-Residential
Retail Wholesale
Single-Family Multiple-Family Non-Residential
Retail Wholesale

2, 3
5 5
5 5
6 Revenue Capacity
220 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Wastewater Rate History
Fiscal Years Ended 2014 to 2023
_______________________________________________________________________________________________________

1Effective July 1, 2015, the Single-Family Residential Tier 1 rate structure changed from 0-3 ccf to 0-4 ccf. 2Four years of rates were approved on May 13, 2014.
3The percentage increase/(decrease) is based on an average monthly bill of 5.4 ccf for Single- Family (based on a 90% flow factor) and 3.8 ccf for Multiple-Family (based on a 95% flow factor).
4Effective July 1, 2017, no tiers for wastewater volumetric charges for single-family and multi-family residential wastewater. 5Effective July 1, 2018, all wastewater customers pay a monthly service charge per account. 6Rates approved on May 22, 2018.
7Up to 5% temporary drought surcharge due to water shortage declaration was added to retail volume charge and effective through April 2023.

The temporary drought surcharge was in effect starting April 2022 but not shown for fiscal year 2022 as it was only in effect for April-June 2022.

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)
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
2022 5.21 15.97 8.9 15.97 9.5 9.46 0.65 1.65 1.66
2023 5.21 16.75 4.6 16.75 4.5 9.93 0.68 1.73 1.74
Single-Family Multiple-Family Non-Residential
Single-Family Multiple-Family Non-Residential
Multiple-Family Non-ResidentialSingle-Family
1,2
4 6
6 6
6 7
Revenue Capacity
221 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Hetchy Power Electric Rate History
Fiscal Years Ended 2014 to 2023
_______________________________________________________________________________________________________

*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. Starting fiscal year 2023, City departments are assigned to a rate schedule based on the customer class (small commercial, industrial, etc.).

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Residential*
Residential Services - Multi-family $ 0.20052 0.20526 0. 21784 0.23073 0.22894 0.23298 0.26429 0.28308 0.33772 0.35571 Residential - Public Power
Tier 1 0.11200 0.11451 0.11705 0.13391 0.14198 0.14610 0.14868 0.15537 0.17781 0.20880 Tier 2 0.12733 0.13018 0.13306 0.15222 0.16139 0.16607 0.16900 0.17661 0.20211 0.25056 Tier 3 0.26065 0.26649 0.27238 0.31160 0.33037 0.33995 0.34595 0.36153 0.41372 0.37584 Commercial
Small General Service 0.19717 0.21152 0. 22560 0.23020 0.23786 0.24931 0.26884 0.27749 0.32523 0.33903 Medium General Demand-Metered Service 0.17573 0.18503 0. 19667 0.20346 0.21265 0.21889 0.23721 0.24167 0.30162 0.31870 Medium General Demand-Metered TOU**
Service

0.13953 0.14761 0. 15049 0.15893 0.16176 0.16709 0.18735 0.18959 0.23972 0.24666 Industrial
Service to Customers with equal to or
greater than Demand of 1,000 Kilowatts or
Mor
e - Secondary Voltage

0.14434 0.15216 0. 15969 0.16868 0.17553 0.18279 0.19804 0.19537 0.23230 0.26114 Service to Customers with equal to or
greater than Demand of 1,000 Kilowatts or
Mor
e - Primary Voltage

0.13169 0.13908 0. 14498 0.15229 0.15874 0.16466 0.17774 0.17627 0.22023 0.23647 Service to Customers with equal to or
greater than Demand of 1,000 Kilowatts or
Mor
e - Transmission Voltage

0.10383 0.10608 0. 10743 0.11719 0.12501 0.12786 0.14240 0.13414 0.18171 0.19384 General Fund City Departments# 0.04750 0.05750 0.06750 0.07250 0.07750 0.07377 0.07877 0.08877 0.09877 0.10877 Streetlights 0.13840 0.15045 0. 15712 0.15874 0.16451 0.17354 0.18693 0.18754 0.23439 0.25629 Traffic Signals 0.14762 0.15866 0.17187 0.18018 0.18432 0.18945 0.20194 0.19768 0.20413 0.25923

Revenue Capacity
222 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

CleanPowerSF Electric Rate History
Fiscal Years Ended 2016 to 2023
_______________________________________________________________________________________________________

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 fiscal years 2016 to 2021. Each average rate is calculated using the energy consumption (and if applicable, demand) of a typical customer on that rate schedule in San 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 methodology 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. **N/A due to new rate classification for fiscal year 2022. Fiscal year 2022 rates updated.

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

Source: San Francisco Public Utilities Commission and PG&E Joint Rate Comparisons. Starting fiscal year 2022, SFPUC CleanPowe rSF Management Report.

Rates per Kilowatt-hour 2014 2015 2016 2017 2018 2019 2020 2021 # 2022 2023 Residential
E-1 (Green) $ 0.07267 0.07267 0.06836 0.07163 0.08235 0.06918 N/A N/A E-1 (SuperGreen) 0.09267 0.09267 0.08836 0.08663 0.09235 0.07918 N/A N/A E-6 (Green) 0.06719 0.06693 0.05868 0.06612 0.08197 0.06935 N/A N/A E-6 (SuperGreen) 0.08719 0.08693 0.07868 0.08112 0.09197 0.07935 N/A N/A E-TOUA (Green) N/A 0.06801 0.06283 0.06548 0.07702 N/A N/A N/A E-TOUA (SuperGreen) N/A 0.08801 0.08283 0.08048 0.08702 N/A N/A N/A E-TOUB (Green) N/A 0.06819 0.06285 0.06460 0.07598 0.06223 N/A N/A E-TOUB (SuperGreen) N/A 0.08819 0.08285 0.07960 0.08598 0.07223 N/A N/A E-TOUC* (Green) N/A N/A N/A 0.07010 0.07913 0.06449 N/A N/A E-TOUC* (SuperGreen) N/A N/A N/A 0.08510 0.08913 0.07449 N/A N/A EVA (Green) 0.05837 0.05822 0.05350 0.05358 0.06526 N/A N/A N/A EVA (SuperGreen) 0.07837 0.07822 0.07350 0.06858 0.07526 N/A N/A N/A EVB (Green) N/A 0.04747 0.04263 0.03889 0.04692 0.06154 N/A N/A EVB (SuperGreen) N/A 0.06747 0.06263 0.05389 0.05692 0.07154 N/A N/A Green 0.09112 0.11766
SuperGreen 0.10112 0.12766
Non-Residential
Small Commercial Green 0.08833 0.10927
Small Commercial SuperGreen 0.09583 0.11427
Medium Commerical Green 0.09415 0.11186
Medium Commercial SuperGreen 0.09915 0.11686
Large Commercial Green 0.08003 0.10192
Large Commercial SuperGreen 0.08503 0.10692
Industrial Green 0.07752 0.09596
Industrial SuperGreen 0.08502 0.10096
Streetlights Green 0.07434 0.10420
Streetlights SuperGreen 0.08184 0.10920
Outdoor Lighting Green 0.07999 0.10980
Outdoor Lighting SuperGreen 0.08749 0.11480
Agriculture Green 0.06277 0.08831
Agriculture SuperGreen 0.07027 0.09331
Commercial
A-1 (Green) 0.07772 0.07740 0.07447 0.07919 0.08011 0.06498 N/A N/A A-1 (SuperGreen) 0.09772 0.09740 0.08847 0.08919 0.08761 0.07248 N/A N/A A-1X (Green) 0.07770 0.07751 0.07509 0.07954 0.08184 0.06600 N/A N/A A-1X (SuperGreen) 0.09770 0.09751 0.08909 0.08954 0.08934 0.07359 N/A N/A A-6 (Green) 0.08883 0.08820 0.08631 0.09491 0.10079 0.09359 N/A N/A A-6 (SuperGreen) 0.10883 0.10820 0.10031 0.10491 0.10829 0.10109 N/A N/A A-10S (Non Time of Use - Green) 0.07940 0.07940 0.07674 0.08355 0.08252 0.06828 N/A N/A A-10S (Non Time of Use - SuperGreen) 0.09940 0.09940 0.09074 0.08855 0.08752 0.07328 N/A N/A A-10SX (Time of Use - Green) 0.07899 0.07813 0. 07579 0.08322 0.08185 0.06671 N/A N/A A-10SX (Time of Use - SuperGreen) 0.09899 0.09813 0.08979 0.08822 0.08685 0.07171 N/A N/A E-19S (Green) 0.07925 0.07853 0.07658 0.08336 0.08010 0.06392 N/A N/A E-19S (SuperGreen) 0.09925 0.09853 0.09058 0.08836 0.08510 0.06892 N/A N/A E-19SV (Green) 0.07368 0.07304 0.07104 0.07670 0.07387 0.06150 N/A N/A E-19SV (SuperGreen) 0.09368 0.09304 0.08504 0.08170 0.07887 0.06650 N/A N/A E-20P (Green) 0.07005 0.06895 0.06729 0.07300 0.06958 N/A N/A N/A E-20P (SuperGreen) 0.09005 0.08895 0.08129 0.08300 0.07708 N/A N/A N/A E-20S (Green) 0.07502 0.07395 0.07167 0.07774 0.07434 0.06282 N/A N/A E-20S (SuperGreen) 0.09502 0.09395 0.08567 0.08774 0.08184 0.07032 N/A N/A

**New rate classification starting fiscal year 2022
Data not available
- CleanPowerSF
launched in May
2016.

Revenue Capacity
223 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Water - Net Revenue and Debt Service Coverage
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

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

Source: San Francisco Public Utilities Commission Annual Disclosure Reports.

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Operating, other and investment revenue $ 390,789 431,836 423,111 464,662 532,087 558,041 593,868 581,141 565,317 705,443 Less operating, other and maintenance expenses (333,555) (296,950) (314,786) (421,827) (370, 147) (357,094) (398,117) (448,690) (401,634) (438,837) Adjustment to investing activities1 (2,438) 732 635 111 (1, 245) (4,821) (516) 3,846 13,050 (2,015) Depreciation and non-cash expenses 95,355 98,192 107,268 121,375 119,624 122,248 148,294 150,257 151,114 164,817 Changes in working capital 46,088 (37,175) (11,062) 63,520 31,060 (11,073) (20,763) 24,707 (42,906) (124,668) Appropriated fund balance — — 23,994 10,747 1,452 4,318 17,181 27,785 21,977 67,949 Net revenue4 196,239 196,635 229,160 238,588 312,831 311,619 339,947 339,046 306,918 372,689 Other available funds2 287,522 248,390 162,733 155,852 186,752 221,362 241,931 128,692 103,506 194,075 Funds available for revenue debt service $ 483,761 445,025 391,893 394,440 499,583 532,981 581,878 467,738 410,424 566,764 Revenue debt service3 $ 141,325 192,312 219,195 207,812 233,959 261,638 269,210 248,427 279,352 307,062 Revenue debt service coverage 3.42 2.31 1.79 1.90 2.14 2.04 2.16 1.88 1.47 1.85 #

Revenue Capacity
224 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Wastewater - Net Revenue and Debt Service Coverage
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

1Adjustment of investing activities and non-operating revenues to a cash basis. 2As per the Indenture, in addition to current year cash flow, the coverage calculation permits the inclusion of all funds except for Trust and Agency Fund not budgeted to be spent in such 12 months and legally available to pay debt service. 3State revolving fund loan for Sewer System Improvement projects (starting fiscal year 2019) have the same seniority as revenue bonds.

Starting in fiscal year 2022, certain types of non-operating revenue is included in net revenue. #Starting fiscal year 2021, Treasure Island revenue and expenses are excluded from debt service coverage. *In fiscal year 2018 Wastewater financial statements, fiscal year 2017 revenue debt service is presented gross of capitalized interest, $60,407.

Source: San Francisco Public Utilities Commission Annual Disclosure Reports.

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Operating, other and investment revenue $ 262,497 257,209 262,960 279,668 317,413 351,782 356,265 325,008 360,756 365,667 Less operating, other and maintenance expenses (216,340) (216,485) (221,553) (244,220) (238,906) (259,813) (262,259) (290,737) (255,010) (254,283) Adjustment to investing activities1 (601) 127 (12) 251 (489) (8,047) 2,950 4,356 8,422 2,392 Depreciation and non-cash expenses 50,717 51,773 56,285 57,998 60,072 68,568 68,603 78,368 77,806 84,450 Changes in working capital 12,908 3,923 2,404 26,292 18,336 (2,125) 523 (8,596) (36,470) (19,376) Net revenue3 109,181 96,547 100,084 119,989 156,426 150,365 166,082 108,399 155,504 178,850 Other available funds2 109,807 134,413 139,847 131,554 153,596 103,281 215,722 197,778 155,331 134,593 Funds available for revenue debt service $ 218,988 230,960 239,931 251,543 310,022 253,646 381,804 306,177 310,835 313,443 Revenue debt service* $ 48,932 48,878 60,022 48,769 47,003 60,347 62,797 82,066 86,619 98,811 Revenue debt service coverage 4.48 4.73 4.00 5.16 6.60 4.20 6.08 3.73 3.59 3.17

*
#

Revenue Capacity
225 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Hetchy Power - Net Revenue and Debt Service Coverage
Fiscal Years Ended 2015 to 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

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. 1Certain types of non-operating revenue is included in net revenue. *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 are calculated based on percentage of unrestricted net position due to implementation of new financial system, PeopleSoft. Fiscal year 2018 and prior, fund equity was determined 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.

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Operating, other and investment revenue $ 117,704 122,954 122,187 122,251 152,873 151,835 142,696 176,896 208,887 Less operating, other and maintenance expenses (105,222) (110,012) (116,935) (119, 395) (122,688) (148,127) (139,566) (142,716) (181,769) Adjustment to investing activities* (8) 11 29 419 (2, 606) 101 1,902 3,297 (15) Depreciation and non-cash expenses 17,654 15,331 14,208 14,131 14,604 27,470 23,037 18,351 20,714 Changes in working capital 7,037 (9,214) 11,740 13,281 (2,386) 3,243 (18,641) (2,702) 3,785 Low Carbon Fuel Standard revenue — — — — — 6,920 1,181 1,184 593 Net revenue1 37,165 19,070 31,229 30,687 39,798 41,442 10,609 54,310 52,195 Other available funds⌂ 14,031 13,974 32,199 36,525 31,215 39,119 23,569 44,315 110,204 Funds available for revenue debt service $ 51,196 33,044 63,428 67,212 71,013 80,561 34,178 98,625 162,399 Revenue debt service** $ N/A N/A N/A 2,570 2,569 2,568 2,567 2,565 2,567 Revenue debt service coverage N/A N/A N/A 26.15 27.64 31.37 13.31 38.45 63.29 No senior
lien debt
service
cov
erage
prior to
fiscal year
2015
#

N/A N/A N/A

26.15 27.64 31.37

13.31 38.45

63.29 0.0

10.0 20.0

30.0 40.0

50.0 60.0

70.0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Coverage Ratio
Hetchy Power Revenue Debt Service Coverage
Fiscal Y ear
No
senior
lien debt
service
coverage
prior to
fiscal
year
2015
226 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Statistical Section

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

Debt Capacity
227 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Debt Ratings
As of June 30, 2023

Ratings by
Moody's

Debt by Type
Investors
Service
Standard
& Poor's

*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.

CleanPowerSF did not have any debt outstanding as of June 30, 202 3 but had a credit rating of A2 from Moody’s investor service.

Source: Rating agency reports.

Water, Wastewater, Hetchy Power, and CleanPowerSF
Credit Ratings
Fiscal Years Ended 2014 to 2023

Water
Revenue bonds Aa2 AA-
C
ommercial 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
Com
mercial 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 Bank of America Letter of Credit*** N/A A-1 Certificates of participation - SFPUC Headquarters Project* Aa1 AA+

Debt Capacity
228 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Water - Summary of Debt Outstanding (Exclude Commercial Paper) As of June 30, 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

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 Statements.

Water Debt Composition

Revenue Bonds and Certificates of Participation
Revenue bonds Amount Use of proceeds
2010 Series B (Build America Bonds) $ 336,390 Water System Improvement Program 2010 Series E (Build America Bonds) 332,403 Water System Improvement Program 2010 Series G (Build America Bonds) 354,328 Water System Improvement Program 2015 Series A 396,364 Refunded remainder of 2006A Bonds and partial refunding of 2009A Bonds 2016 Series A 770,298 Refunded portion of 2009A, 2009B and 2010F Bonds 2016 Series B 62,032 Refunded remainder of 2006B and 2006C Bonds and portion of 2010A 2016 Series C 225,160 Refund all of outstanding taxable commercial paper notes. 2017 Series A 27,269 Water System Improvement Program
2017 Series B 33,271 Non Water System Improvement Program (Non-WSIP) 2017 Series C 15,914 Hetchy Water Improvements
2017 Series D 394,196 Refund 2011A and 2012A Bonds
2017 Series E 53,608 Refund 2011C, 2011D and 2012C1 Bonds 2017 Series F 8,909 Refund 2011B Bonds
2017 Series G 18,890 Refund 2011A Bonds
2019 Series A 587,825 Refunding Federal Taxable WSIP
2019 Series B 16,315 Refunding Federal Taxable Hetch Hetchy 2019 Series B 17,775 Refunding Federal Taxable Local Water Main 2020 Series A 189,695 Water System Improvement Program (Green Bonds) 2020 Series B 74,009 Regional Water
2020 Series C 99,797 Local Water
2020 Series D 52,123 Hetch Hetchy Water
2020 Series E 335,035 Refunding Federal Taxable WSIP
2020 Series F 135,455 Refunding Federal Taxable Non-WSIP 2020 Series G 108,970 Refunding Federal Taxable Local Water 2020 Series H 64,815 Refunding Federal Taxable Hetch Hetchy Water Total revenue bonds 4,710,846
State of California revolving fund loans 163,627
2009 Series D Certificates of participation (COPs) 92,499 525 Golden Gate Avenue Headquarters Building Total Water debt outstanding $ 4,966,972

Debt Capacity
229 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Wastewater - Summary of Debt Outstanding (Exclude Commercial Paper) As of June 30, 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

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 Statements.

Wastewater Debt Composition

Revenue Bonds, Notes, Loans and Certificates of Participation Revenue bonds/notes Amount Use of proceeds
2010 Series B (Build America Bonds) $ 185,235 Clean Water Capital Improvement Programs 2013 Series A 577 Refunded the remaining portion of the 2003 Series A bonds 2013 Series B 98,451 Sewer System Improvement Program (SSIP) 2016 Series A 269,154 Sewer System Improvement Program (SSIP) 2016 Series B 75,876 Sewer System Improvement Program (SSIP) 2018 Series A 246,296 Sewer System Improvement Program (SSIP) 2018 Series B 205,327 Sewer System Improvement Program (SSIP) 2021 Series A 322,320 Sewer System Improvement Program (SSIP) 2021 Series B 48,248 Sewer System Improvement Program (SSIP) 2021 Series A Notes 219,583 Sewer System Improvement Program (SSIP) 2021 Series B Notes 129,973 Sewer System Improvement Program (SSIP) 2022 Series B 151,973 Refunding 2013 Series AB bonds
2023 Series A 630,350 Sewer System Improvement Program (SSIP) 2023 Series B 324,524 Capital Projects Non-SSIP
2023 Series C 178,579 Sewer System Improvement Program (SSIP) Total revenue bonds/notes 3,086,466
State of California revolving fund loans 318,689 Sewer System Improvement Program 122,357 WIFIA Loans
2009 Series D Certificates of participation (COPs) 24,458 525 Golden Gate Avenue Headquarters Building Total Wastewater debt outstanding $ 3,551,970

Water Infrastructure Finance and Innovation Act
(WIFIA) Loans

Debt Capacity
230 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Hetchy Power - Summary of Debt Outstanding (Exclude Commercial Paper) As of June 30, 2023
(Dollars in Thousands)
_______________________________________________________________________________________________________

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 Statements.

Hetchy Power Debt Composition

Bonds and Certificates of Participation
Revenue Bonds Amount Use of proceeds
2015 Series A (Green) $ 34,985 Hetch Hetchy facilities
2015 Series B 2,948 Hetch Hetchy facilities
2021 Series A 89,303 Refinance portion costs of Hetchy Power projects 2021 Series B 59,622 Refinance portion costs of Hetchy Power projects Total revenue bonds 186,858
Other Bonds
Qualified Energy Conservation Bonds (QECBs) 2,583 525 Golden Gate Avenue green energy 2015 New Clean Renewable Energy Bonds (NCREBs) 1,491 City facilities renewable energy Total other bonds 4,074
2009 S
eries D Certificates of participation (COPs) 12,593 525 Golden Gate Avenue Headquarters Building Total Hetchy Power debt outstanding $ 203,525

231 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Debt Capacity
History of Outstanding Debt by Type - Principal Only (Exclude Commercial Paper) Fiscal Years Ended 2014 to 2023 (Dollars in Thousands)
_____________________________________________________________________________________________________________________________________________

Department-wide
Bonds Total
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
2022 6,986,674 350,356 — 424,420 — 133,945 7,895,395
2023 7,638,688 349,556 — 482,316 122,357 129,550 8,722,467 Water
Total
2014 $ 4,322,713 $ — $ 5,107 $ 117,049 $ 4,444,869 2,595,166 $ 1.71 173,970 $ 68,339.83 2015 4,298,827 — 5,471 114,680 4,418,978 2,635,893 1.68 174,111 68,405.91 2016 4,257,454 — 5,860 112,246 4,375,560 2,657,633 1.65 174,083 68,176.11 2017 4,554,967 — 6,278 109,722 4,670,967 2,680,705 1.74 174,349 62,970.33 2018 4,909,041 — 6,725 107,106 5,022,872 2,705,107 1.86 175,054 57,682.77 2019 4,808,548 — 2,029 104,392 4,914,969 2,710,848 1.81 175,803 57,577.34 2020 4,695,295 73,271 — 101,578 4,870,144 2,723,304 1.79 176,379 56,800.74 2021 4,994,775 107,407 — 98,662 5,200,844 2,654,192 1.96 176,246 50,351.04 2022 4,860,935 121,761 — 95,637 5,078,333 2,663,726 1.91 177,072 50,164.25 2023 4,710,846 163,627 — 92,499 4,966,972 2,665,928 1.86 177,613 49,647.08 Wastewater
Total
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 1,073,938 880,696 1.22 163,976 6.55 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 1,737,141 870,393 2.00 174,516 9.95 2021 1,589,922 — 108,559 — 26,087 1,724,568 811,253 2.13 174,356 9.89 2022 1,931,253 350,356 302,659 — 25,288 2,609,556 808,437 3.23 175,171 14.90 2023 2,736,910 349,556 318,689 122,357 24,458 3,551,970 798,206 4.45 175,680 20.22 Hetchy Power
Bonds^ Total
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 75,391 3,068 24.57
2018 55,241 14,581 72,838 3,547 20.54
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
2022 194,486 13,020 207,506 5,110 40.61
2023 190,932 12,593 203,525 6,238 32.63
Fiscal Year
Ended
Certificates of
Participation^
Number of
Customer
Accounts
Debt per Customer
Account
(in thousands)
Fiscal Year
Ended
Revenue
Bonds^ Revenue Notes
State Revolving
Fund Loans
Certificates of
Participation^
Water
Infrastructure
Finance and
Innov
ation Act
(WIFIA) Loans
Number of
Customer
Accounts
Service Area by
Population#
Certificates of
Participation^
Capital
Appreciation
Bonds*
State Revolving
Fund Loans
Revenue
Bonds^
Certificates of
Participation^
Fiscal Year
Ended
Fiscal Year
Ended Revenue Notes
Water
Infrastructure
Finance and
Innov
ation Act
(WIFIA) Loans
Debt per Customer
Account
(in thousands)
Debt per Capita
(in thousands)
Debt per
Customer
Account
(i
n thousands)
Capital
Appreciation
Bonds*
State Revolving
Fund Loans
Service Area by
Population#
Debt per Capita
(in thousands)
Number of
Customer
Accounts
**
**
*No annual payments for Series 1991A Capital Appreciation Bonds. **2023 population was estimated by multiplying 2022 population by the 2021 and 2022 population growth rate.
#2022, 2021 and 2020 Updated from last year's ACFR with newly available data ^Bonds, Notes, and Certificates of Participation are inclusive of bond premiums and discounts.

Source: San Francisco Public Utilities Commission, Power Enterprise: Customer To Meter Billing System, FY2020 and prior from Utility Star Billing System, Water and Wastewater Enterprise: Customer Care and Billing System, Audited Financial Statements, Office of the Controller, City and County of San Francisco and BAWSCA.org.

Debt Capacity
Department-wide - Future Principal and Interest Payments* (Exclude Commercial Paper)
(Dollars in Thousands)
_________________________________________________________________________________________________________________________________________________

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

Source: San Francisco Public Utilities Commission Official Statements.

232 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023 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 2024 $ 138,362 180,569 318,931 31,460 113,541 145,001 2,035 7,408 9,443 171,857 301,518 473,375 2025 143,887 174,980 318,867 41,858 115,614 157,472 4,062 7,296 11,358 189,807 297,890 487,697 2026 159,256 170,163 329,419 263,421 113,612 377,033 4,231 7,128 11,359 426,908 290,903 717,811 2027 165,149 163,373 328,522 209,597 111,877 321,474 4,399 6,955 11,354 379,145 282,205 661,350 2028 170,834 156,201 327,035 87,591 107,493 195,084 4,284 6,763 11,047 262,709 270,457 533,166 2029 179,317 148,965 328,282 115,417 102,886 218,303 4,184 6,566 10,750 298,918 258,417 557,335 2030 188,097 140,970 329,067 120,848 97,450 218,298 4,380 6,363 10,743 313,325 244,783 558,108 2031 194,899 133,090 327,989 126,558 91,737 218,295 4,592 6,156 10,748 326,049 230,983 557,032 2032 203,980 125,429 329,409 119,579 86,059 205,638 4,794 5,939 10,733 328,353 217,427 545,780 2033 206,930 117,109 324,039 112,238 80,745 192,983 4,928 5,721 10,649 324,096 203,575 527,671 2034 217,085 108,058 325,143 117,486 75,488 192,974 5,063 5,507 10,570 339,634 189,053 528,687 2035 225,120 98,586 323,706 122,999 69,976 192,975 5,287 5,281 10,568 353,406 173,843 527,249 2036 240,849 89,054 329,903 128,730 64,245 192,975 5,526 5,049 10,575 375,105 158,348 533,453 2037 253,428 79,393 332,821 103,333 59,056 162,389 5,778 4,805 10,583 362,539 143,254 505,793 2038 233,334 70,196 303,530 107,915 54,474 162,389 6,031 4,550 10,581 347,280 129,220 476,500 2039 241,967 61,676 303,643 112,648 49,737 162,385 6,300 4,283 10,583 360,915 115,696 476,611 2040 250,451 52,958 303,409 117,534 44,853 162,387 6,575 4,005 10,580 374,560 101,816 476,376 2041 208,135 44,913 253,048 122,556 39,824 162,380 6,866 3,713 10,579 337,557 88,450 426,007 2042 162,726 38,618 201,344 117,065 34,890 151,955 7,167 3,411 10,578 286,958 76,919 363,877 2043 114,823 33,897 148,720 120,282 30,038 150,320 6,500 3,115 9,615 241,605 67,050 308,655 2044 118,964 29,746 148,710 88,075 25,820 113,895 6,790 2,827 9,617 213,829 58,393 272,222 2045 82,375 26,023 108,398 91,590 22,287 113,877 7,090 2,527 9,617 181,055 50,837 231,892 2046 86,142 22,727 108,869 95,280 18,649 113,929 7,405 2,213 9,618 188,827 43,589 232,416 2047 90,074 19,281 109,355 99,141 14,848 113,989 7,720 1,898 9,618 196,935 36,027 232,962 2048 94,201 15,662 109,863 85,570 11,437 97,007 8,035 1,583 9,618 187,806 28,682 216,488 2049 100,590 11,662 112,252 86,697 8,417 95,114 8,360 1,255 9,615 195,647 21,334 216,981 2050 105,533 7,278 112,811 54,915 6,020 60,935 8,705 914 9,619 169,153 14,212 183,365 2051 110,728 2,675 113,403 55,127 4,235 59,362 9,060 558 9,618 174,915 7,468 182,383 2052 6,058 283 6,341 56,879 2,411 59,290 9,430 189 9,619 72,367 2,883 75,250 2053 6,117 222 6,339 18,185 1,360 19,545 — — — 24,302 1,582 25,884 2054 6,179 161 6,340 18,599 1,108 19,707 — — — 24,778 1, 269 26,047 2055 6,241 99 6,340 14,721 851 15,572 — — — 20,962 950 21,912 2056 1,207 37 1,244 15,087 640 15,727 — — — 16,294 677 16,971 2057 1,220 25 1,245 10,223 422 10,645 — — — 11,443 447 11,890 2058 1,233 12 1,245 10,553 273 10,826 — — — 11,786 285 12,071 2059 — — — 10,883 119 11,002 — — — 10,883 119 11,002
Total $ 4,715,491 2,324,089 7,039,582 3,210,639 1,662,493 4,873,132 175,577 123,979 299,556 8,101,707 4,110,563 12,212,270

Water Wastewater Power SFPUC Total
Debt Capacity
Water - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)
233 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Principal Payments

(Continued)
May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments State COPs
Due for Revolving Series
FY Ended Fund Loans 2009D 2010B 2010E 2010G 2015A 2016A 2016B 2016C 2024 $ — 3,267 13,245 13,165 — 28,070 23,590 13,175 6,105 2025 — 3,402 13,725 13,610 — 29,485 24,800 13,720 6,275 2026 3,781 3,545 14,225 14,080 — 30,990 26,050 7,715 6,455 2027 3,819 3,695 14,765 14,585 — 20,945 38,150 8,015 6,645 2028 3,857 3,852 15,355 15,125 — 20,530 46,305 3,815 6,850 2029 4,819 4,013 15,965 15,715 — 21,580 48,655 3,990 7,075 2030 4,867 4,180 16,600 16,340 — 22,685 51,135 4,180 7,310 2031 4,915 4,359 17,260 16,990 — 23,810 53,460 4,370 7,565 2032 4,965 4,545 17,945 17,665 11,060 25,000 34,135 — 7,835 2033 5,013 4,737 18,660 18,365 11,575 26,280 35,875 — 8,120 2034 5,064 4,941 19,405 19,095 12,110 27,490 37,710 — 8,435 2035 5,115 5,155 20,175 19,855 12,665 28,610 39,670 — 8,760 2036 5,166 5,373 20,980 20,645 13,255 29,765 41,745 — 9,110 2037 5,218 5,605 21,810 21,470 13,865 31,135 43,670 — 9,475 2038 5,270 5,844 22,680 22,320 14,505 — 45,455 — 9,860
2039 5,323 6,094 23,580 23,210 15,175 — 47,305 — 10,265 2040 5,376 6,355 24,520 24,130 15,880 — 49,235 — 10,685 2041 5,430 6,625 25,495 25,090 16,610 — — — 11,125
2042 5,484 6,912 — — 17,380 — — — 11,585
2043 5,538 — — — 18,180 — — — 12,070
2044 5,594 — — — 19,025 — — — 12,590
2045 5,650 — — — 19,900 — — — 13,125
2046 5,707 — — — 20,820 — — — 13,685
2047 5,764 — — — 21,785 — — — 14,270
2048 5,821 — — — 22,790 — — — —
2049 5,880 — — — 23,845 — — — —
2050 5,938 — — — 24,945 — — — —
2051 5,998 — — — 26,100 — — — —
2052 6,058 — — — — — — — —
2053 6,117 — — — — — — — —
2054 6,179 — — — — — — — —
2055 6,241 — — — — — — — —
2056 1,207 — — — — — — — —
2057 1,220 — — — — — — — —
2058 1,233 — — — — — — — —
2059 — — — — — — — — —
Total $ 163,627 92,499 336,390 331,455 351,470 366,375 686,945 58,980 225,275 Debt Capacity
Water - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)
234 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Principal Payments

(Continued)
May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments
Due for
FY Ended 2017A 2017B 2017C 2017D 2017E 2017F 2017G 2019A 2019B 2019C 2024 $ 2,445 2,985 1,425 1,270 795 735 13,665 3,565 70 80 2025 2,570 3,135 1,500 10,230 835 770 5,225 3,640 75 80 2026 2,705 3,295 1,575 20,515 7,425 875 — 3,720 75 80
2027 2,840 3,465 1,660 21,540 7,830 920 — 3,805 80 85
2028 2,990 3,645 1,745 22,615 6,630 965 — 3,900 80 90
2029 3,140 3,830 1,830 23,740 7,080 1,020 — 4,000 85 90 2030 3,300 4,025 1,925 24,935 8,555 855 — 4,105 85 95
2031 — — — 26,140 7,960 905 — 4,215 90 95
2032 — — — 14,980 1,015 960 — 31,095 90 100
2033 — — — 46,855 — — — 4,055 1,340 1,465
2034 — — — 59,875 — — — 4,180 1,385 1,510
2035 — — — 61,540 — — — 4,310 1,425 1,550
2036 — — — 11,105 — — — 63,930 1,470 1,600
2037 4,685 5,715 2,735 — — — — 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 — — — — — — — — — —
2046 — — — — — — — — — —
2047 — — — — — — — — — —
2048 — — — — — — — — — —
2049 — — — — — — — — — —
2050 — — — — — — — — — —
2051 — — — — — — — — — —
2052 — — — — — — — — — —
2053 — — — — — — — — — —
2054 — — — — — — — — — —
2055 — — — — — — — — — —
2056 — — — — — — — — — —
2057 — — — — — — — — — —
2058 — — — — — — — — — —
2059 — — — — — — — — — —
Total $ 24,675 30,095 14,395 345,340 48,125 8,005 18,890 587,825 16,315 17,775 Debt Capacity
Water - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)
235 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Principal Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments Total
Due for Principal
FY Ended 2020A 2020B 2020C 2020D 2020E 2020F 2020G 2020H Payments 2024 $ — — — — 1,530 1,430 7,065 685 138,362
2025 — — — — 1,575 1,440 7,105 690 143,887
2026 — — — — 1,620 1,450 8,385 695 159,256
2027 — — — — 1,665 1,465 8,475 700 165,149
2028 — — — — 1,715 1,485 8,575 710 170,834
2029 — — — — 1,765 1,505 8,700 720 179,317
2030 — — — — 1,815 1,530 8,840 735 188,097
2031 — — — — 5,300 5,720 9,005 2,740 194,899
2032 — — — — 5,450 5,830 18,520 2,790 203,980
2033 — — — — 5,605 5,955 10,180 2,850 206,930
2034 — — — — 5,770 6,090 1,110 2,915 217,085
2035 — — — — 5,930 6,235 1,140 2,985 225,120
2036 — — — — 6,100 6,385 1,165 3,055 240,849
2037 — — — — 1,645 910 1,200 435 253,428
2038 — — — — 6,560 6,875 1,235 3,290 233,334
2039 — — — — 57,375 7,075 1,275 3,385 241,967
2040 — — — — 59,020 7,280 1,315 3,480 250,451
2041 — — — — 60,715 7,490 1,355 3,585 208,135
2042 — — — — 62,450 7,700 1,395 3,685 162,726
2043 — — — — 6,405 7,940 1,440 3,800 114,823
2044 — — — — 6,600 8,195 1,490 3,920 118,964
2045 10,730 4,300 5,950 3,425 6,795 8,455 — 4,045 82,375 2046 11,445 4,590 6,340 3,660 7,000 8,725 — 4,170 86,142 2047 12,195 4,895 6,760 3,895 7,205 9,000 — 4,305 90,074 2048 19,525 7,840 10,825 6,240 7,425 9,290 — 4,445 94,201 2049 30,970 12,520 17,360 10,015 — — — — 100,590
2050 32,160 13,240 18,550 10,700 — — — — 105,533
2051 33,870 13,945 19,550 11,265 — — — — 110,728
2052 — — — — — — — — 6,058
2053 — — — — — — — — 6,117.0
2054 — — — — — — — — 6,179.0
2055 — — — — — — — — 6,241.0
2056 — — — — — — — — 1,207.0
2057 — — — — — — — — 1,220.0
2058 — — — — — — — — 1,233.0
2059 — — — — — — — — —
Total $ 150,895 61,330 $ 85,335 49,200 335,035 135,455 108,970 64,815 4,715,491 Debt Capacity
Water - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)
236 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Interest Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

COPs
Payments State 2009D 2010B 2010E 2010G
Due for Revolving Before Before Before Before
FY Ended Fund Loans Subsidy Subsidy Subsidy Subsidy 2015A 2016A 2016B 2016C 2024 $ — 5,864 19,614 19,105 24,426 16,642 31,365 2,099 8,463 2025 — 5,652 18,872 18,418 24,427 15,222 30,156 1,569 8,298 2026 1,315 5,431 18,103 17,692 24,427 13,720 28,885 1,209 8,118 2027 1,277 5,201 17,270 16,917 24,427 12,420 27,280 894 7,925 2028 1,239 4,961 16,365 16,084 24,427 11,385 25,169 639 7,719 2029 1,522 4,710 15,426 15,182 24,427 10,332 22,795 464 7,498 2030 1,474 4,450 14,448 14,219 24,428 9,225 20,300 279 7,260 2031 1,425 4,176 13,433 13,219 24,428 8,097 17,952 87 7,007 2032 1,376 3,887 12,376 12,180 24,043 6,915 16,030 — 6,738 2033 1,325 3,585 11,278 11,099 23,256 5,632 14,280 — 6,448 2034 1,276 3,272 10,136 9,976 22,433 4,425 12,440 — 6,137 2035 1,225 2,944 8,950 8,809 21,572 3,303 10,506 — 5,809 2036 1,174 2,602 7,714 7,593 20,672 2,145 8,470 — 5,463 2037 1,122 2,247 6,430 6,329 19,729 778 6,554 — 5,098
2038 1,071 1,875 5,096 5,015 18,743 — 4,771 — 4,712
2039 1,018 1,488 3,708 3,650 17,712 — 2,916 — 4,306
2040 964 1,084 2,265 2,229 16,633 — 985 — 3,883
2041 911 664 765 753 15,504 — — — 3,443
2042 856 224 — — 14,323 — — — 2,985
2043 801 — — — 13,087 — — — 2,499
2044 746 — — — 11,794 — — — 1,983
2045 690 — — — 10,441 — — — 1,445
2046 634 — — — 9,026 — — — 884
2047 577 — — — 7,546 — — — 299
2048 519 — — — 5,997 — — — —
2049 461 — — — 4,376 — — — —
2050 402 — — — 2,681 — — — —
2051 343 — — — 907 — — — —
2052 283 — — — — — — — —
2053 222 — — — — — — — —
2054 161 — — — — — — — —
2055 99 — — — — — — — —
2056 37 — — — — — — — —
2057 25 — — — — — — — —
2058 12 — — — — — — — —
2059 — — — — — — — — —
Total $ 26,580 64,317 202,249 198,469 475,892 120,241 280,854 7,240 124,419 Debt Capacity
Water - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)
237 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Interest Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments
Due for
FY Ended 2017A 2017B 2017C 2017D 2017E 2017F 2017G 2019A 2019B 2019C 2024 $ 1,173 1,431 685 17,131 2,338 381 343 19,258 555 605 2025 1,047 1,277 611 16,843 2,296 344 76 19,185 553 603 2026 915 1,116 534 16,074 2,090 303 — 19,105 551 600
2027 777 947 453 15,024 1,709 258 — 19,018 549 598
2028 631 770 368 13,919 1,347 211 — 18,924 546 595
2029 478 583 279 12,760 1,004 162 — 18,825 543 592
2030 317 386 185 11,543 613 115 — 18,722 541 589
2031 234 285 136 10,307 220 71 — 18,611 538 586
2032 234 286 137 9,331 20 24 — 18,119 535 583
2033 234 286 137 7,798 — — — 17,623 513 558
2034 234 286 137 5,129 — — — 17,499 470 511
2035 234 286 137 2,094 — — — 17,367 425 463
2036 234 286 137 277 — — — 16,244 377 411
2037 118 142 67 — — — — 13,856 324 353
2038 — — — — — — — 11,101 270 294
2039 — — — — — — — 9,042 213 232
2040 — — — — — — — 7,752 155 168
2041 — — — — — — — 6,385 94 103
2042 — — — — — — — 4,938 32 35
2043 — — — — — — — 3,170 — —
2044 — — — — — — — 1,069 — —
2045 — — — — — — — — — —
2046 — — — — — — — — — —
2047 — — — — — — — — — —
2048 — — — — — — — — — —
2049 — — — — — — — — — —
2050 — — — — — — — — — —
2051 — — — — — — — — — —
2052 — — — — — — — — — —
2053 — — — — — — — — — —
2054 — — — — — — — — — —
2055 — — — — — — — — — —
2056 — — — — — — — — — —
2057 — — — — — — — — — —
2058 — — — — — — — — — —
2059 — — — — — — — — — —
Total $ 6,860 8,367 4, 003 138,230 11,637 1,869 419 295,813 7,784 8,479 Debt Capacity
Water - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)
238 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Interest Payments

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 2020A 2020B 2020C 2020D 2020E 2020F 2020G 2020H Subsidy Net of Subsidy Payments 2024 $ 7,294 3,066 3,414 1,476 9,493 3,594 1,810 1,720 (22,776) 180,569 318,931 2025 7,295 3,066 3,414 1,477 9,449 3,586 1,765 1,715 (22,235) 174,980 318,867 2026 7,295 3,066 3,413 1,476 9,404 3,575 1,704 1,710 (21,668) 170,163 329,419 2027 7,295 3,066 3,414 1,476 9,357 3,559 1,621 1,703 (21,061) 163,373 328,522 2028 7,295 3,066 3,414 1,476 9,310 3,541 1,515 1,694 (20,409) 156,201 327,035 2029 7,295 3,067 3,414 1,476 9,261 3,519 1,387 1,684 (19,720) 148,965 328,282 2030 7,295 3,067 3,414 1,476 9,210 3,494 1,241 1,672 (18,993) 140,970 329,067 2031 7,295 3,066 3,414 1,476 9,109 3,429 1,084 1,641 (18,237) 133,090 327,989 2032 7,295 3,066 3,414 1,476 8,958 3,320 820 1,589 (17,324) 125,429 329,409 2033 7,295 3,066 3,413 1,476 8,801 3,197 524 1,530 (16,245) 117,109 324,039 2034 7,295 3,067 3,413 1,476 8,641 3,062 400 1,465 (15,122) 108,058 325,143 2035 7,295 3,067 3,413 1,476 8,476 2,918 374 1,396 (13,953) 98,586 323,706 2036 7,295 3,067 3,413 1,476 8,306 2,764 346 1,322 (12,734) 89,054 329,903 2037 7,295 3,067 3,413 1,476 8,196 2,672 313 1,278 (11,464) 79,393 332,821 2038 7,295 3,067 3,413 1,476 8,080 2,561 275 1,225 (10,143) 70,196 303,530 2039 7,295 3,067 3,413 1,476 7,177 2,363 236 1,130 (8,765) 61,676 303,643 2040 7,295 3,067 3,413 1,476 5,533 2,159 196 1,033 (7,331) 52,958 303,409 2041 7,295 3,067 3,413 1,476 3,842 1,949 155 932 (5,837) 44,913 253,048 2042 7,295 3,067 3,413 1,476 2,102 1,733 112 829 (4,801) 38,618 201,344 2043 7,295 3,067 3,413 1,476 1,126 1,498 68 717 (4,319) 33,897 148,720 2044 7,295 3,067 3,413 1,476 934 1,244 23 595 (3,893) 29,746 148,710 2045 7,026 2,959 3,294 1,425 737 983 — 470 (3,446) 26,023 108,398 2046 6,471 2,737 3,049 1,318 534 712 — 341 (2,979) 22,727 108,869 2047 5,893 2,500 2,787 1,205 325 434 — 207 (2,491) 19,281 109,355 2048 5,131 2,181 2,435 1,053 109 146 — 70 (1,979) 15,662 109,863 2049 3,917 1,672 1,871 809 — — — — (1,444) 11,662 112,252 2050 2,400 1,028 1,153 498 — — — — (885) 7,278 112,811
2051 814 349 391 169 — — — — (299) 2,675 113,403
2052 — — — — — — — — — 283 6,341
2053 — — — — — — — — — 222 6,339
2054 — — — — — — — — — 161 6,340
2055 — — — — — — — — — 99 6,340
2056 — — — — — — — — — 37 1,244
2057 — — — — — — — — — 25 1,245
2058 — —
— — — — — — — 12 1,245
2059 — — — — — — — — — — —
Total $ 184,844 77,822 86,661 37,474 156,470 62,012 15,969 29,668 (310,553) 2,324,089 7,039,582

Debt Capacity
239 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Wastewater - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)

Principal Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments State COPs
Due for Revolving WIFIA Series
FY Ende
d Fund Loans Loans 2009D 2010B 2013A 2013B 2016A 2016B 2018A 2018B 2024 $ 2,526 — 864 7,505 575 — 5,475 1,545 7,160 5,810
2025 5,588 — 900 7,745 — — 5,760 1,625 6,580 5,335
2026 5,669 — 937 8,000 — — 6,055 1,705 6,915 5,610
2027 9,215 — 977 8,270 — — 6,365 1,795 7,270 5,900
2028 9,347 — 1,019 8,560 — — 6,690 1,885 7,645 6,200
2029 9,481 — 1,061 8,860 — — 7,035 1,980 8,035 6,520
2030 9,618 — 1,105 9,180 — — 7,395 2,085 8,445 6,855
2031 9,756 — 1,152 9,520 — — 7,775 2,190 8,880 7,205
2032 9,897 — 1,202 9,875 — — 8,170 2,305 9,335 7,575
2033 10,040 — 1,253 10,250 — — 8,590 2,420 9,815 7,960
2034 10,184 — 1,307 10,640 — — 9,030 2,545 10,315 8,375 2035 10,331 — 1,363 11,045 — — 9,495 2,675 10,845 8,800 2036 10,480 — 1,420 11,470 — — 9,980 2,815 11,400 9,255 2037 10,631 — 1,482 11,910 — — 10,495 2,960 11,985 9,730 2038 10,785 — 1,545 12,365 — — 10,975 3,095 12,600 10,225 2039 10,941 — 1,612 12,845 — — 11,425 3,220 13,245 10,750 2040 11,099 — 1,680 13,340 — — 11,890 3,350 13,880 11,275 2041 11,259 — 1,752 13,855 — 20,390 12,375 3,490 14,510 11,790 2042 11,422 — 1,828 — — 35,625 12,880 3,630 15,170 12,325 2043 11,587 — — — — 37,080 13,405 3,780 15,860 12,890
2044 11,755 3,180 — — — — 13,955 3,935 11,445 9,305
2045 11,926 3,204 — — — — 14,520 4,095 — —
2046 12,098 3,302 — — — — 15,115 4,260 — —
2047 12,274 3,412 — — — — 15,730 4,435 — —
2048 12,452 7,068 — — — — — — — —
2049 10,607 7,300 — — — — — — — —
2050 10,754 8,181 — — — — — — — —
2051 9,189 8,438 — — — — — — — —
2052 9,044 8,755 — — — — — — — —
2053 9,161 9,024 — — — — — — — —
2054 9,281 9,318 — — — — — — — —
2055 5,110 9,611 — — — — — — — —
2056 5,182 9,905 — — — — — — — —
2057 — 10,223 — — — — — — — —
2058 — 10,553 — — — — — — — —
2059 — 10,883 — —
— — — — — —
Total $ 318,689 $ 122,357 24,458 185,235 575 93,095 240,580 67,820 221,335 179,690 Debt Capacity
Wastewater - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)
240 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Principal Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments Total
Due for 2021A 2021B Principal
FY Ended 2021A 2021B Notes Notes 2022B 2023A 2023B 2023C Payments 2024 $ — — — — — — — — 31,460
2025 — — — — 8,325 — — — 41,858
2026 — — 218,355 — 10,175 — — — 263,421
2027 — — — 129,110 10,695 22,000 8,000 — 209,597
2028 — — — — 11,245 25,500 9,500 — 87,591
2029 — — — — 11,825 44,250 16,370 — 115,417
2030 — — — — 12,425 46,650 17,090 — 120,848
2031 — — — — 13,065 49,045 17,970 — 126,558
2032 — — — — 13,735 41,760 15,725 — 119,579
2033 — — — — 14,440 34,740 12,730 — 112,238
2034 — — — — 15,185 36,255 13,650 — 117,486
2035 — — — — 15,965 38,405 14,075 — 122,999
2036 — — — — — 41,560 30,350 — 128,730
2037 — — — — — 20,820 23,320 — 103,333
2038 — — — — — 21,895 24,430 — 107,915
2039 — — — — — 23,035 25,575 — 112,648
2040 — — — — — 24,230 26,790 — 117,534
2041 — — — — — 24,070 9,065 — 122,556
2042 — — — — — 17,695 6,490 — 117,065
2043 — — — — — 18,655 7,025 — 120,282
2044 23,905 3,340 — — — — — 7,255 88,075
2045 25,130 3,515 — — — — — 29,200 91,590
2046 26,420 3,695 — — — — — 30,390 95,280
2047 27,775 3,885 — — — — — 31,630 99,141
2048 29,050 4,080 — — — — — 32,920 85,570
2049 30,235 4,290 — — — — — 34,265 86,697
2050 31,470 4,510 — — — — — — 54,915
2051 32,755 4,745 — — — — — — 55,127
2052 34,095 4,985 — — — — — — 56,879
2053 — — — — — — — — 18,185
2054 — — — — — — — — 18,599
2055 — — — — — — — — 14,721
2056 — — — — — — — — 15,087
2057 — — — — — — — — 10,223
2058 — — — — — — — — 10,553
2059 — — — — — — — — 10,883
Total $ 260,835 37,045 218,355 129,110 137,080 530,565 278,155 165,660 3,210,639 241 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023 Debt Capacity
Wastewater - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)

Interest Payments*

(Continued)

May not total due to rounding.
* Interest and fees include debt admin fees for the Clarifier SRF loan and North Point Facility SRF Loan.

Source: San Francisco Public Utilities Commission Official Statements.

COPs
Payments State 2009D 2010B
Due for Revolving WIFIA Before Before
FY Ended Fund Loans Loans Subsidy Subsidy 2013A 2013B 2016A 2016B 2018A 2018B 2021A 2024 $ 1,479 — 1,551 10,169 14 3,724 10,509 2,962 10,179 8,839 11,466 2025 2,708 — 1,494 9,801 — 3,724 10,228 2,883 9,836 8,560 11,466 2026 2,627 886 1,436 9,409 — 3,724 9,963 2,809 9,498 8,287 11,466 2027 4,336 1,773 1,375 8,992 — 3,724 9,683 2,729 9,144 7,999 11,466 2028 4,203 1,773 1,312 8,550 — 3,724 9,356 2,637 8,771 7,697 11,466 2029 4,069 1,773 1,245 8,084 — 3,724 9,013 2,541 8,379 7,379 11,466 2030 3,933 1,773 1,177 7,592 — 3,724 8,652 2,439 7,967 7,044 11,466 2031 3,794 1,773 1,104 7,073 — 3,724 8,273 2,333 7,533 6,692 11,466 2032 3,654 1,773 1,027 6,523 — 3,724 7,875 2,220 7,078 6,323 11,466 2033 3,511 1,774 949 5,945 — 3,724 7,455 2,101 6,599 5,935 11,466 2034 3,366 1,773 865 5,344 — 3,724 7,015 1,977 6,096 5,527 11,466 2035 3,219 1,773 778 4,720 — 3,724 6,552 1,847 5,567 5,097 11,466 2036 3,070 1,773 689 4,073 — 3,724 6,066 1,710 5,011 4,646 11,466 2037 2,919 1,773 594 3,397 — 3,723 5,553 1,565 4,426 4,172 11,465 2038 2,766 1,774 495 2,690 — 3,723 5,071 1,430 3,813 3,673 11,466 2039 2,610 1,773 393 1,957 — 3,723 4,623 1,303 3,166 3,149 11,465 2040 2,452 1,773 287 1,194 — 3,723 4,157 1,172 2,557 2,598 11,466 2041 2,291 1,773 175 402 — 3,316 3,672 1,035 1,989 2,021 11,465 2042 2,128 1,773 59 — — 2,196 3,167 893 1,396 1,417 11,466 2043 1,963 1,774 — — — 742 2,641 745 775 787 11,465
2044 1,795 1,762 — — — — 2,094 590 228 233 10,868
2045 1,625 1,717 — — — — 1,524 430 — — 9,642
2046 1,452 1,670 — — — — 932 265 — — 8,353
2047 1,277 1,621 — — — — 314 89 — — 6,999
2048 1,099 1,558 — — — — — — — — 5,723
2049 918 1,456 — — — — — — — — 4,538
2050 771 1,346 — — — — — — — — 3,303
2051 622 1,227 — — — — — — — — 2,018
2052 502 1,103 — — — — — — — — 681
2053 384 976 — — — — — — — — —
2054 265 844 — — — — — — — — —
2055 144 707 — — — — — — — — —
2056 73 567 — — — — — — — — —
2057 — 422 — — — — — — — — —
2058 — 273 — — — — — — — — —
2059 — 119 — — — — — — — — —
Total $ 72,
024 48,398 17,006 105,915 14 69,558 144,388 40,705 120,008 108,075 281,441

*
242 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023 Debt Capacity
Wastewater - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)

Interest Payments

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 2021B 2022B 2023A 2023B 2023C Subsidy Net of Subsidy Payments 2024 $ 1,851 2,185 1,291 6,854 25,303 12,737 6,296 (3,868) 113,541 145,001 2025 1,851 2,183 1,292 6,646 26,635 13,408 6,627 (3,728) 115,614 157,472 2026 1,853 1,091 1,290 6,183 26,635 13,407 6,627 (3,579) 113,612 377,033 2027 1,852 — 646 5,662 26,085 13,207 6,626 (3,422) 111,877 321,474 2028 1,852 — — 5,113 24,898 12,769 6,627 (3,255) 107,493 195,084 2029 1,852 — — 4,536 23,154 12,124 6,626 (3,079) 102,886 218,303 2030 1,853 — — 3,930 20,881 11,287 6,626 (2,894) 97,450 218,298 2031 1,852 — — 3,293 18,489 10,411 6,626 (2,699) 91,737 218,295 2032 1,852 — — 2,623 16,219 9,568 6,626 (2,492) 86,059 205,638 2033 1,853 — — 1,919 14,306 8,857 6,626 (2,275) 80,745 192,983 2034 1,853 — — 1,178 12,531 8,197 6,626 (2,050) 75,488 192,974 2035 1,853 — — 399 10,665 7,504 6,626 (1,814) 69,976 192,975 2036 1,853 — — — 8,666 6,444 6,626 (1,572) 64,245 192,975 2037 1,852 — — — 7,106 5,202 6,626 (1,317) 59,056 162,389 2038 1,852 — — — 6,038 4,108 6,626 (1,051) 54,474 162,389 2039 1,852 — — — 4,915 2,958 6,626 (776) 49,737 162,385 2040 1,853 — — — 3,734 1,749 6,626 (488) 44,853 162,387 2041 1,852 — — — 2,496 902 6,626 (191) 39,824 162,380
2042 1,852 — — — 1,422 514 6,627 (20) 34,890 151,955
2043 1,853 — — — 490 176 6,627 — 30,038 150,320
2044 1,769 — — — — — 6,481 — 25,820 113,895
2045 1,596 — — — — — 5,753 — 22,287 113,877
2046 1,416 — — — — — 4,561 — 18,649 113,929
2047 1,227 — — — — — 3,321 — 14,848 113,989
2048 1,028 — — — — — 2,029 — 11,437 97,007
2049 820 — — — — — 685 — 8,417 95,114
2050 600 — — — — — — — 6,020 60,935
2051 368 — — — — — — — 4,235 59,362
2052 125 — — — — — — — 2,411 59,290
2053 — — — — — — — — 1,360 19,545
2054 — — — — — — — — 1,108 19,707
2055 — — — — — — — — 851 15,572
2056 — — — — — — — — 640 15,727
2057 — — — — — — — — 422 10,645
2058 — — — — — — — — 273 10,826
2059 — — — — — — — — 119 11,002
Total $ 45,995 5,459 4,519 48,336 280,668 155,529 155,025 (40,570) 1,662,493 4,873,132 2021A
Notes
2021B
Notes
Debt Capacity
Power - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)
243 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Principal Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Qualified New Clean
Payments COPs Energy Renewable Total
Due for Series Conservation Energy Principal
FY Ended 2009D Bonds 2011 2015A 2015B Bonds 2015 2021A 2021B Payments 2024 $ 445 562 — 880 148 — — 2,035
2025 463 569 — 910 150 1,385 585 4,062
2026 483 576 — 945 152 1,455 620 4,231
2027 503 582 830 150 154 1,530 650 4,399
2028 524 294 1,020 — 156 1,605 685 4,284
2029 546 — 1,075 — 158 1,690 715 4,184
2030 569 — 1,125 — 161 1,775 750 4,380
2031 594 — 1,185 — 163 1,860 790 4,592
2032 619 — 1,240 — 165 1,945 825 4,794
2033 644 — 1,305 — 84 2,035 860 4,928
2034 673 — 1,370 — — 2,115 905 5,063
2035 702 — 1,435 — — 2,200 950 5,287
2036 731 — 1,510 — — 2,290 995 5,526
2037 763 — 1,585 — — 2,385 1,045 5,778
2038 796 — 1,665 — — 2,480 1,090 6,031
2039 830 — 1,745 — — 2,585 1,140 6,300
2040 865 — 1,835 — — 2,690 1,185 6,575
2041 901 — 1,925 — — 2,800 1,240 6,866
2042 942 — 2,020 — — 2,915 1,290 7,167
2043 — — 2,125 — — 3,030 1,345 6,500
2044 — — 2,230 — — 3,155 1,405 6,790
2045 — — 2,340 — — 3,285 1,465 7,090
2046 — — 2,460 — — 3,420 1,525 7,405
2047 — — — — — 3,560 4,160 7,720
2048 — — — — — 3,705 4,330 8,035
2049 — — — — — 3,855 4,505 8,360
2050 — — — — — 4,010 4,695 8,705
2051 — — — — — 4,175 4,885 9,060
2052 — — — — — 4,345 5,085 9,430
2053 — — — — — — — —
2054 — — — — — — — —
2055 — — — — — — — —
2056 — — — — — — — —
2057 — — — — — — — —
2058 — — — — — — — —
2059 — — — — — — — —
Total $ 12,593 2,583 32,025 2,885 1,491 74,280 49,720 175,577 Debt Capacity
Power - Future Principal and Interest Payments
(Exclude Commercial Paper)
(Dollars in Thousands)
244 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Interest Payments

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

COPs QECBs NCREBs Total Total
Payments 2009D 2011 2015 Federal Interest Principal & Due for Before Before Before Interest Payments Interest FY Ended Subsidy Subsidy 2015A 2015B Subsidy 2021A 2021B Subsidy Net of Subsidy Payments 2024 $ 798 116 1,593 93 67 3,085 2,045 (389) 7,408 9,443 2025 769 89 1,593 62 60 3,050 2,030 (357) 7,296 11,358
2026 739 62 1,593 25 53 2,979 2,000 (323) 7,128 11,359
2027 709 35 1,576 3 47 2,905 1,969 (289) 6,955 11,354
2028 675 7 1,534 — 39 2,826 1,935 (253) 6,763 11,047
2029 641 — 1,482 — 32 2,744 1,900 (233) 6,566 10,750
2030 606 — 1,427 — 25 2,657 1,864 (216) 6,363 10,743
2031 568 — 1,369 — 17 2,576 1,825 (199) 6,156 10,748
2032 530 — 1,308 — 9 2,490 1,784 (182) 5,939 10,733
2033 488 — 1,245 — 2 2,401 1,747 (162) 5,721 10,649
2034 446 — 1,178 — — 2,318 1,712 (147) 5,507 10,570
2035 400 — 1,108 — — 2,231 1,674 (132) 5,281 10,568
2036 354 — 1,034 — — 2,142 1,636 (117) 5,049 10,575
2037 307 — 957 — — 2,048 1,594 (101) 4,805 10,583
2038 255 — 876 — — 1,951 1,552 (84) 4,550 10,581
2039 203 — 790 — — 1,850 1,507 (67) 4,283 10,583
2040 148 — 701 — — 1,744 1,461 (49) 4,005 10,580
2041 90 — 607 — — 1,634 1,412 (30) 3,713 10,579
2042 30 — 508 — — 1,520 1,363 (10) 3,411 10,578
2043 — — 405 — — 1,401 1,309 — 3,115 9,615
2044 — — 296 — — 1,277 1,254 — 2,827 9,617
2045 — — 181 — — 1,149 1,197 — 2,527 9,617
2046 — — 62 — — 1,014 1,137 — 2,213 9,618
2047 — — — — — 875 1,023 — 1,898 9,618
2048 — — — — — 730 853 — 1,583 9,618
2049 — — — — — 578 677 — 1,255 9,615
2050 — — — — — 421 493 — 914 9,619
2051 — — — — — 257 301 — 558 9,618
2052 — — — — — 87 102 — 189 9,619
2053 — — — — — — — — — —
2054 — — — — — — — — — —
2055 — — — — — — — — — —
2056 — — — — — — — — — —
2057 — — — — — — — — — —
2058 — — — — — — — — — —
2059 — — — — — — — — — —
Total $ 8,756 309 23,423 183 351 52,940 41,356 (3,339) 123,979 299,556 245 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Statistical Section

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
246 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

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 counties 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.

Due to increase of mortgage interest rates, San Francisco median homes prices decreased slightly by $250,000 from $1.8 million to $1.6 million. Personal income per capita for 2023 is $1 69,758 and a typical home costs approximately 11 times the typical income, one of the higher home price-to-income ratio in the nation.

San Francisco Population and Income
The City had a population estimated at 798,206 as of fiscal year 2023 . The table reflects the population and per capita personal income of the City, as estimated based on the U.S. Census Bureau.

1 2023 population was estimated by multiplying the estimated 2022 population by the 2020 to 2021 population growth rate. Fiscal year 2020, 2021 and 2022 has been updated from last year's ACFR with newly available data.

2 Per
capita personal income for 2023 was estimated by dividing the estimated personal income for 2023 by the reported population in 2022.

Fiscal years 2020, 2021 and 2022 are updated from last year's ACFR with newly available data. FY2023 was estimated by multiplying the latest quarterly State income by 1,000 and dividing by the estimated 2022 population.

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

San Francisco Conventions and Tourism
According to the San Francisco Travel Association (the “Travel Association”), a non-profit membership organization, average hotel occupancy was 62.1%, an increase of 43.7% from 2021 and hotel rooms occupied during Moscone conventions totaled 347,788, a 1,933% increase from 2021. San Francisco International Airport served over 42.3 million passengers in 2022, an increase of 74% from 2020 but is still down from 2019’s 57.8 million passengers. It is forecast for 2023, leisure travel to continue to steady recovery and is forecast to reach 23.9 mill ion and visitor spending is expected to grow from $7.4 billion in 2022 to $8.7 billion in 2023.

San Francisco Employment
According to the data from California Employment Development Department, the City’s unemployment rate increased by 0.8% in 2023. This increase is mainly due to the added 4,100 or 0.7% in the labor force. The 0.8% increase is comparable to the overall State unemployment rate increase from 2022 to 2023.

CITY AND COUNTY OF SAN FRANCISCO
Population and Income - Fiscal Years 2019-2023

Fiscal Year

Population¹
Per Capita
Personal Income2
2019 881,549 133,442
2020 870,393 141,072
2021 811,253 161,532
2022 808,437 165,259
2023 798,206 169,758

247 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023 Tabl
es below summarizes information on the civilian labor, employment, and unemployment in the City; and employment by industry from calendar years 2018 to 2022. 1Lab
or force data reflects the March 2022 benchmark and Census 2022 population controls at the state level. June 202 2 data is updated from last year’s ACFR with newly available data.
2Data not seasonally adjusted.

Sou
rce: California Employment Development Department, Labor Market Information Division. 1Dat
a reflects the March 202 2 benchmark and 202 1 is updated with newly available data.

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

Year Area Labor Force Employment Unemployment
June 2023 San Francisco 576,700 557,900 18,800 3.3%
State 19,308,700 18,364,000 944,700 4.9%
June 2022 San Francisco 572,600 558,300 14,300 2.5%
State 19,138,600 18,347,600 791,000 4.1%

CITY AND COUNTY OF SAN FRANCISCO
Civilian Labor Force, Employment, and Unemployment 1
June 2022 and 20232
Unemployment
Rate
2018 2019 2020 2021 2022
Total Farm 200 400 200 300 300
Total Nonfarm 735,000 762,500 696,300 698,700 760,100
Professional & Business Services 195,400 203,100 200,900 200,600 219,100 Leisure & Hospitality 98,500 101,800 59,100 57,000 75,900 Government 98,200 98,800 98,200 101,300 105,900
Educational & Health Services 90,300 94,100 91,500 93,900 95,800 Trade, Transportation & Utilities 82,600 84,300 73,200 70,100 72,700 Financial Activities 59,900 62,000 60,300 61,000 64,200 Information 46,100 52,500 54,600 58,200 64,300
Manufacturing & Construction 36,400 37,900 36,600 33,800 36,600 Other Services 27,800 28,400 22,100 23,100 25,900
Total All Industries 735,200 762,900 696,500 699,000 760,400

CITY AND COUNTY OF SAN FRANCISCO
Estimated Average Annual Employment by Sector - Calendar Years 2018-20221 248 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

The table below lists 25 major employers in San Francisco County, as reported by the San Francisco Business Times.

CITY AND COUNTY OF SAN FRANCISCO
Major Employers
Employer Name Industry
More than 10,000 Employees
City and County of San Francisco City Government
Salesforce Customer Relationship Management Software
San Francisco Unified School District (SFUSD) Public Education University of California, San Francisco Health Sciences University and Medical Center 5,000 - 9,999 Employees
Sutter Health Health Care System
Uber Technologies Inc. Ride-Sharing Service
Wells Fargo Bank Financial Services
1,000 - 4,999 Employees
Accenture Professional Services and Technology Consulting Adobe Inc. Digital media and marketing
Airbnb Inc. Online Vacation Rental Services
Allied Universal Security Systems, Guarding Services
Cisco Systems Inc. Technology, Networking, Security and Digital CommonSpirit Health Health Care System
Cruise Develops all electric, self-driving vehicles
Deloitte Accounting, Audit, Tax, Advisory, Consulting
DoorDash Inc. On-demand logistics platform for local commerce Ernst and Young Accounting, Audit, Tax, Advisory, Consulting First Republic Bank Financial Services
Kaiser Permanente Health Care System
Linkedin Corp Online Professional Network
Safeway Northern California Division Grocery stores
Square Inc. Financial and Merchant Services, Mobile payments Twitter Inc. Social Media
United Airlines Airline Carrier
University of San Francisco University Education
Source: Calendar year 2021 San Francisco Business Times and City and County of San Francisco. Calendar year 2022 data is not available yet.

San Francisco Taxable Sales
The following table provides information on taxable sales for the City for calendar years 2018 through 2022. Total retail sales increased in 2022 by approximately $1.8 billion compared to 2021.

1Most recent annual data available and may not total due to rounding. 2Other Retail Stores include Health and Personal Care Stores, Sporting Goods, Hobby Book, and Music stores, Miscellaneous Store Retailers, and Non-store Retailers.

Source: California Department of Tax and Fee Administration. 2018 2019 2020 2021 2022 Building Material/Garden Equipment/Supplies $ 681,369 718,692 642,104 685,895 691,182 Clothing and Clothing Accessories Stores 2,046,414 2,029,312 1,163,031 1,587,968 1,746,756 Food and Beverage Stores 856,217 861,757 746,455 722,410 768,429 Food Services and Drinking Places 4,844,464 5,046,263 2,081,728 2,953,373 4,266,095 Gasoline Stations 583,480 548,509 304,977 432,768 612,261 General Merchandise Stores 790,845 755,350 560,059 667,930 691,405 Home Furnishings and Appliance Stores 1,018,006 1,034,213 768,022 919,239 940,945 Motor Vehicle and Parts Dealers 674,008 601,929 593,476 625,719 575,323 Other Retail Stores2 2,535,667 2,671,219 2,690,590 2,508,494 2,633,438 Retails Stores Total $ 14,030,470 14,267,244 9,550,442 11,103,796 12,925,834 All Other Outlets not listed above 6,312,252 6,689,891 4,839,281 4,839,281 6,685,572 Total All Outlets $ 20,342,722 20,957,135 14,389,723 16,607,116 19,611,406

CITY AND COUNTY OF SAN FRANCISCO
Taxable Sales - Calendar Years 2018-20221
($ in Thousands)
249 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Demographic and Economic Information
San Francisco Population and Income
Fiscal Years Ended 2014 to 2023

Personal Income Per Capita
Year Population 1 (In Thousands) 2 Personal income 2

2023 798,2063 137,238,298 4 169,758 5

1Data from US Census Bureau. Fiscal year 2020, 2021 and 2022 has been updated from last year's Annual Comprehensive Financial Report (ACFR) with newly available data.
2Data from US Bureau of Economic Analysis. Fiscal years 2020, 2021 and 2022 are updated from last year's ACFR with newly available data.
32023 population was calculated by multiplying the estimated 2022 population by the 2020 to 2021 population growth rate. 4Personal income was estimated by assuming that its percentage of state personal income in fiscal years 2021 and 2022 remained at the 2021 level of 4.44 percent.
5Per capita personal income for 2023 was estimated by dividing the estimated personal income for 2023 by the reported popula tion in 2022. 2023 was estimated by multiplying the latest quarterly State income by 1,000 and dividing by the estimated 2022 population.

Source: Office of the Controller, City and County of San Francisco. 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 881,549 117,635,944 133,442
2020 870,393 122,788,484 141,072
2021 811,253 131,043,138 161,532
2022 808,437 133,601,151 165,259

Demographic & Economic Information
250 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

San Francisco City and County Principal Employers

1Calendar year 2022 data is not available so the latest data as of April 2022 is presented for calendar year 2021. City and County of San Francisco data provided by Office of Controller'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. 2Percentages have been restated based on updated employment information, and as a result, may differ from amounts reported in the fiscal year 2011-12 Annual Comprehensive Financial Report from the City and County of San Francisco. 3Data is from State of California Employee Development Department.

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

Employer Employees Rank
Percentage of
Total City
Employment Employees Rank
Percentage of
Total City
Employment
City and County of San Francisco 35,802 1 6.4 % 25,458 1 5.3 % University of California, San Francisco 29,500 2 5.3 22,664 2 4.7 Salesforce 10,603 3 1.9 4,000 9 0.8
San Francisco Unified School District 10,322 4 1.8 8,189 5 1.7 Sutter Health 6,100 5 1.1 — — —
Wells Fargo Bank 5,899 6 1.1 8,300 4 1.7
Uber Technologies Inc. 5,500 7 1.0 — — —
Allied Universal 4,095 8 0.7 — — —
Kaiser Permanente 3,921 9 0.7 3,581 10 0.8
First Republic Bank 3,042 10 0.5 —
Pacific Gas & Electric Corporation — — — 4,415 7 0.9
California Pacific Medical Center — — — 8,559 3 1.8
Gap, Inc. — — — 6,000 6 1.3
State of California — — — 4,184 8 0.9
Total 114,784 20.5 % 95,350 19.9 % Total City Employment3 561,308 477,650
20211 20122
Demographic & Economic Information
251 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Summary of Water and Sewer Accounts by Type of Customer Fiscal Years Ended 2014 to 2023

1Beginning in fiscal year 2019, Unmetered Properties accounts are included. 2Large 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 Customer Care and Billing System and Rate Schedules.

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Water Account Types
Retail - San Francisco
Multi-Family Residential 41,165 41,279 41,369 41,594 42,101 42,482 42,849 43,360 43,693 44,020 Single-Family Residential 110,144 110,140 110,050 110,118 110,153 110,413 110,584 110,113 110,485 110,659 Commercial 20,354 20,384 20,320 20,344 20,429 20,512 20,509 20,306 20,399 20,423 Industrial 82 81 81 80 80 81 77 75 72 69 Municipal 1,843 1,849 1,885 1,882 1,915 1,939 1,985 2,019 2,049 2,067 Subtotal 173,588 173,733 173,705 174,018 174,678 175,427 176,004 175,873 176,698 177,238 Retail - Other
Commercial 88 85 85 83 86 87 87 86 87 86 Municipal 1 1 1 1 1 1 1 1 1 1 Other 3 3 3 3 3 2 2 2 2 2 Residential 212 211 211 211 208 208 207 206 206 208 Subtotal 304 300 300 298 298 298 297 295 296 297 Wholesale
Private utilities 21 22 22 22 22 22 22 22 22 22 Public utilities 57 56 56 56 56 56 56 56 56 56 Subtotal 78 78 78 78 78 78 78 78 78 78 Total water accounts 173,970 174,111 174,083 174,394 175,054 175,803 176,379 176,246 177,072 177,613 Sewer Account Types
Retail & Resale
Multi-Family Residential 36,248 36,313 36,293 36,323 36,326 36,387 36,467 36,528 36,595 36,603 Single-Family Residential 111,125 111,173 111,137 111,268 111,385 111,681 111,869 111,398 111,786 111,995 Commercial2 15,430 15,460 15,411 15,388 15,494 24,465 24,721 24,941 25,278 25,564 Municipal2 725 731 738 751 763 1,109 1,150 1,182 1,208 1,218 Suburban (Watershed Keepers) 9 9 8 8 8 8 7 7 7 6 Unmetered Properties1 306 302 300 297 294 Total sewer accounts 163,537 163,686 163,587 163,738 163,976 173,956 174,516 174,356 175,171 175,680 No data prior to fiscal year 2019

Demographic & Economic Information
252 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Summary of Hetchy Water, Hetchy Power and CleanPowerSF Accounts by Type of Customer Fiscal Years Ended 2014 to 2023

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

* 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. **The decrease in accounts from fiscal year 2021 to 2022 is due to corrections to the customer type during the new billing sy stem transition. New accounts from affordable housing units contributed to the increase from fiscal year 2022 to 2023.

Source: San Francisco Public Utilities Commission Power Enterprise Customer To Meter Billing System. Fiscal year 2020 and prior was from Utility Star Billing System.

^Increase is from completion of citywide enrollment
*Fiscal year 2022 data was as of November, 2022.

Source: Calpine’s customer snapshot reports..

Hetchy Water
Accounts 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Upc
ountry Water Sales 7 7 6 5 5 5 5 5 5 5

Hetchy Power
Electric Meters 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 City Agencies 1,470 1,480 1,494 1,491 1,511 1,499 1,512 1,489 1,522 1,546 Non-City Agencies* 758 783 1,090 1,536 1,996 2,209 2,526 3,858 3,551 4,654 Moccasin/City of Riverbank 41 40 41 39 38 37 37 36 35 36 Modesto/Turlock Irrigation Districts 2 2 2 2 2 2 2 2 2 2 Total accounts** 2,271 2,305 2,627 3,068 3,547 3,747 4,077 5,385 5,110 6,238 Gas and Steam Meters
Nature Gas 351 352 359 351 355 352 352 352 355 356 Steam 12 12 12 12 12 12 12 12 12 12 Total accounts 363 364 371 363 367 364 364 364 367 368

CleanPowerSF
Account 2014 2015 2016 2017 2018 2019 2020 2021 2022* 2023 Res
idential 364 69,492 74,160 343,807 351,219 352,835 356,443 365,800 Commercial
Small Commercial Service 6,256 6,169 6,422 27,750 27,368 27,044 26,569 26,961 Medium Commercial Service 541 504 688 2,428 2,381 2,272 2,124 2,050 Large Commercial Service 299 314 336 1,812 1,887 1,859 1,819 2,016 Agricultural — 3 7 25 25 25 27 22 Street and Outdoor Lighting — — — 306 299 297 297 305 Commercial Subtotal 7,096 6,990 7,453 32,321 31,960 31,497 30,836 31,354 Total accounts 7,460 76,482 81,613 376,128 383,179 384,332 387,279 397,154 Data not available
- CleanPowerSF
launched in May
2016.
^^
Demographic & Economic Information
253 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Water Accounts and Billings
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)

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

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

Fiscal
Year
Number of
Consumer
Ac
counts
Water
Consumed
(C
CF)*
Water
Consumed
(M
G)**
Service
Charges
Bille
d ($)
Water
Charges
Bille
d ($)
Total
Amount
Bille
d ($)
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 2022 177,072 88,243,491 66,005 53,820 537,588 591,408 2023 177,613 83,190,560 62,227 54,062 553,100 607,162 $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
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Sales (dollars in thousands)
Consumption (in millions of gallons)
Fiscal Year
Historical Consumption vs. Sales Revenues
Consumption
Sales Revenues
Demographic & Economic Information
254 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Historical Water Sales in Hundred Cubic Feet
Fiscal Years Ended 2014 to 2023

1Includes Docks and Ships under Commercial.
2From 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.
3Master-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 leases. 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.
4Beginning 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 Billing System.

2023
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 % o f Total Retail Customers
Multi-Family Residential 11,790,707 10,923,723 10,511,291 10,730,224 11,088,325 11,001,321 11,377,523 11,091,058 10,652,590 10,623,605 12.8% Single-Family Residential 8,124,179 7,056,525 6,674,624 6,765,508 6,954,084 6,766,191 7,051,008 7,101,350 6,413,178 6,085,256 7.3% Commercial 1 9,249,884 8,881,095 8,486,990 8,286,580 8,539,377 8,145,347 7,391,713 5,152,409 5,761,374 6,065,939 7.3% Industrial 96,073 100, 995 94,178 92,846 86,555 84,142 73,296 43,251 47,821 46,458 0.1% Municipal 3,4,6 1,818,869 1,351,523 1,252,031 1,519,354 1,582,906 1,592,205 1,652,984 1,387,438 1,388,349 1,224,514 1.5% Suburban Retail 3 2,090,360 1,860,949 1,556,586 1,397,568 1,524,511 1,426,850 1,474,800 1,368,225 1,329,569 1,337,597 1.5% Retail water sales 33,170,072 30, 174,810 28,575,700 28,792,081 29,775,757 29,016,056 29,021,324 26,143,730 25,592,881 25,383,369 30.5% Wholesale Customers
California Water Service 2 16,478,539 14,177,253 11,442,469 11,853,307 13,437,872 12,823,623 14,158,729 14,422,994 14,163,074 12,855,814 15.5% Hayward Municipal Water 7,402,067 6, 634,616 5,979,616 6,281,522 7,101,954 6,821,848 6,929,989 7,098,350 6,854,523 6,143,665 7.4% City of Palo Alto 5,520,468 4,671,433 4,006,084 4,382,560 4,859,576 4,600,987 4,757,199 4,785,384 4,709,184 4,210,399 5.1% City of Sunnyvale 4,169,463 3,801,695 3,816,230 3,966,024 4,615,487 4,281,432 4,602,280 4,745,166 4,336,157 3,948,671 4.7% City of Redwood City 4,457,196 3,909,265 3,484,888 3,764,419 4,109,993 3,945,340 4,269,768 4,180,327 3,862,674 3,521,880 4.2% Alameda County Water District 5,837,509 3,885,891 2,924,129 3,039,722 3,875,669 3,745,166 3,788,287 4,638,801 4,575,609 5,060,306 6.1% City of Mountain View 4,405,542 3,715,499 3,285,167 3,374,726 3,679,915 3,551,507 3,706,595 3,857,685 3,600,525 3,288,144 4.0% City of Milpitas 3,244,023 2,556,289 2,199,649 2,361,244 2,544,956 2,504,392 2,956,102 2,618,214 2,332,408 2,193,250 2.6% City of San Jose 2,263,880 2,189,406 1,990,436 2,017,559 2,198,147 2,104,452 2,065,632 2,052,823 1,975,039 1,850,941 2.2% Estero Municipal Improvement District 1,983,373 1,942,828 1,755,953 1,869,684 2,064,667 1,966,799 2,115,607 2,101,149 1,887,409 1,715,469 2.1% All Other Wholesale Customers 2 17,251,767 14,965,959 13,323,145 13,466,407 14,425,326 14,635,791 15,123,615 15,349,943 14,354,008 13,018,652 15.6% Wholesale water sales 73,013,827 62, 450,134 54,207,766 56,377,174 62,913,563 60,981,337 64,473,803 65,850,836 62,650,610 57,807,191 69.5% Total water sales 106,183,899 92,624,944 82,783,466 85,169,254 92,689,320 89,997,393 93,495,127 91,994,566 88,243,491 83,190,560 100.0% % Change from prior year 1.0% -12.8% -10.6% 2.9% 8.8% -2.9% 3.9% -1.6% -4.1% -5.7% Number of accounts 173,970 174,111 174,083 174,394 175,054 175,803 176,379 176,246 177,072 177,613 Retail 173,892 174,033 174,005 174,316 174,976 175,725 176,301 176,168 176,994 177,535 Wholesale 78 78 78 78 78 78 78 78 78 78

Demographic & Economic Information
255 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Historical Water Sales in Millions of Gallons per Day
Fiscal Years Ended 2014 to 2023

1Includes Docks and Ships under Commercial.
2From 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
3Master-metered Treasure Island water sales were included under Commercial from fiscal year 2011 and 2012 and under Suburban Retail fr om fiscal year 2013 to fiscal year 2016. Beginning in fiscal year 2017, they have been classified under Municipal. Current Treas ure Island usage represents purchases by the Treasure Island Development Authority and various commercial, residential, and governmental leases. 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.
4Beginning 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 Billing System. 2023
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 % of Total Retail Customers
Multi-Family Residential 24.2 22.4 21.5 22.0 22.7 22.5 23.3 22.7 21.9 21.8 12.9% Single-Family Residential 16.6 14.5 13.6 13.9 14.3 13.9 14.4 14.6 13.1 12.5 7.3% Commercial 1

19.0 18.2 17.3 17.0 17.5 16.7 15.1 10.6 11.8 12.4 7.3%
Industrial 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1% Municipal 3,4,6

3.7 2.8 2.6 3.1 3.2 3.3 3.4 2.8 2.8 2.5 1.5%
Suburban Retail 3

4.3 3.8 3.2 2.9 3.1 2.9 3.0 2.8 2.7 2.7 1.5%
Retail water sales 68.0 61.9 58.4 59.1 61.1 59.5 59.3 53.6 52.4 52.0 30.5% Wholesale Customers
California Water Service 2

33.8 29.1 23.4 24.3 27.5 26.3 29.0 29.6 29.0 26.4 15.6% Hayward Municipal Water 15.2 13.6 12.2 12.9 14.6 14.0 14.2 14.5 14.0 12.6 7.4% City of Palo Alto 11.3 9.6 8.2 9.0 10.0 9.4 9.7 9.8 9.6 8.6 5.1% City of Sunnyvale 8.5 7.8 7.8 8.1 9.5 8.8 9.4 9.7 8.9 8.1 4.7% City of Redwood City 9.1 8.0 7.1 7.7 8.4 8.1 8.8 8.6 7.9 7.2 4.2% Alameda County Water District 12.0 8.0 6.0 6.2 7.9 7.7 7.7 9.5 9.4 10.4 6.1% City of Mountain View 9.0 7.6 6.7 6.9 7.5 7.3 7.6 7.9 7.4 6.7 4.0% City of Milpitas 6.6 5.2 4.5 4.8 5.2 5.1 6.1 5.4 4.8 4.5 2.6% City of San Jose 4.6 4.5 4.1 4.1 4.5 4.3 4.2 4.2 4.1 3.8 2.2% Estero Municipal Improvement District 4.1 4.0 3.6 3.8 4.2 4.0 4.3 4.3 3.9 3.5 2.1% All Other Wholesale Customers 2

35.4 30.7 27.3 27.6 29.6 30.0 31.0 31.5 29.5 26.7 15.6% Wholesale water sales 149.7 128.0 110.8 115.5 128.9 125.0 131.6 135.0 128.4 118.5 69.5% Total water sales 217.7 189.9 169.2 174.6 190.0 184.5 190.9 188.6 180.8 170.5 100.0% % Change from prior year 1.0% -12.8% -10.6% 2.9% 8.8% -2.9% 3.9% -1.6% -4.1% -5.7% Number of accounts 173,970 174,111 174,083 174,394 175,054 175,803 176,379 176,246 177,072 177,613 Retail 173,892 174,033 174,005 174,316 174,976 175,725 176,301 176,168 176,994 177,535 Wholesale 78 78 78 78 78 78 78 78 78 78

Demographic & Economic Information
256 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Historical Water Sales in Millions of Gallons
Fiscal Years Ended 2014 to 2023

1Includes Docks and Ships under Commercial.
2From 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.
3Master-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 leases. 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.
4Beginning 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 Billing System.

2023
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 % of Total Retail Customers
Multi-Family Residential 8,819 8,171 7,862 8,026 8,294 8,229 8,510 8,296 7,968 7,946 12.9% Single-Family Residential 6,077 5,278 4,993 5,061 5,202 5,061 5,274 5,312 4,797 4,552 7.3% Commercial 1 6,919 6,643 6,348 6,198 6,387 6,093 5,529 3,854 4,310 4,537 7.3% Industrial 72 76 70 69 65 63 55 32 36 35 0.1% Municipal 3,4,6 1,361 1,011 937 1,136 1,184 1,191 1,236 1,038 1,038 916 1.5% Suburban Retail 3 1,564 1,392 1,164 1,045 1,140 1,067 1,103 1,023 995 1,001 1.5% Retail water sales 24,811 22,571 21,375 21,536 22,272 21,704 21,708 19,555 19,143 18,987 30.5% Wholesale Customers
California Water Service 2 12,326 10,605 8,559 8,866 10,052 9,592 10,591 10,788 10,594 9,616 15.5% Hayward Municipal Water 5,537 4,963 4,473 4,699 5,312 5,103 5,184 5,310 5,127 4,595 7.4% City of Palo Alto 4,129 3,494 2,997 3,278 3,635 3,442 3,558 3,579 3,522 3,149 5.1% City of Sunnyvale 3,119 2,844 2,855 2,967 3,452 3,203 3,443 3,549 3,243 2,954 4.7% City of Redwood City 3,334 2,924 2,607 2,816 3,074 2,951 3,194 3,127 2,889 2,634 4.2% Alameda County Water District 4,366 2,907 2,187 2,274 2,899 2,801 2,834 3,470 3,423 3,785 6.1% City of Mountain View 3,295 2,779 2,457 2,524 2,753 2,657 2,773 2,886 2,693 2,460 4.0% City of Milpitas 2,427 1,912 1,645 1,766 1,904 1,873 2,211 1,958 1,745 1,641 2.6% City of San Jose 1,693 1,638 1,489 1,509 1,644 1,574 1,545 1,536 1,477 1,385 2.2% Estero Municipal Improvement District 1,484 1,453 1,313 1,399 1,544 1,471 1,582 1,572 1,412 1,283 2.1% All Other Wholesale Customers 2 12,904 11,195 9,966 10,073 10,790 10,948 11,312 11,482 10,737 9,738 15.6% Wholesale water sales 54,614 46,713 40,548 42,170 47,059 45,615 48,226 49,257 46,862 43,240 69.5% Total water sales 79,425 69,284 61,923 63,706 69,331 67,319 69,934 68,812 66,005 62,227 100.0% % Change from prior year 1.0% -12.8% -10.6% 2.9% 8.8% -2.9% 3.9% -1.6% -4.1% -5.7% Number of accounts 173,970 174,111 174,083 176,379 175,054 175,803 176,379 176,246 177,072 177,613 Retail 173,892 174,033 174,005 176,301 174,976 175,725 176,301 176,168 176,994 177,535 Wholesale 78 78 78 78 78 78 78 78 78 78

Wholesale Water Customers
257 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Map of Bay Area Water Supply and Conservation Agency (BAWSCA) Members

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. City of San Jose

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

*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.

Demographic & Economic Information
258 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Water Accounts & Billings by Type of Customer
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)

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

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

Customer Type 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Multiple-Family Residential
Number of accounts 41,165 41,279 41,369 41,594 42,101 42,482 42,849 43,360 43,693 44,020 Billings $ 65,880 68,517 74,055 83,180 91,994 97,879 109,461 115,888 121,922 125,529 Single-Family Residential
Number of accounts 110,144 110,140 110,050 110,118 110,153 110,413 110,584 110,113 110,485 110,659 Billings $ 51,586 50,670 54,209 60,424 66,304 69,840 78,329 85,094 84,328 83,030 Commercial1
Number of accounts 20,354 20,384 20,320 20,344 20,429 20,512 20,509 20,306 20,399 20,423 Billings $ 56,522 58,416 63,080 67,748 74,720 76,950 76,586 59,883 71,480 76,805 Industrial
Number of accounts 82 81 81 80 80 81 77 75 72 69 Billings $ 568 644 677 736 738 796 765 528 612 614 Municipal2
Number of accounts 1,843 1,849 1,885 1,882 1,916 1,939 1,985 2,019 2,049 2,067 Billings $ 9,455 8,719 9,274 11,999 13,147 14,253 15,901 14,541 16,224 15,279 Suburban Retail
Number of accounts 304 300 300 298 297 298 297 295 296 297 Billings $ 8,023 8,122 7,845 8,836 10,466 10,313 11,127 11,113 11,668 12,693 Wholesale
Number of accounts 78 78 78 78 78 78 78 78 78 78 Billings $ 178,954 174,655 203,005 233,356 262,764 252,521 303,340 308,865 285,174 293,212 Total
Number of accounts 173,970 174,111 174,083 174,394 175,054 175,803 176,379 176,246 177,072 177,613 Billings $ 370,988 369,743 412,145 466,279 520,133 522,552 595,509 595,912 591,408 607,162 Percentage of Revenue
Residential 31.7% 32.2% 31.1% 30.8% 30.4% 32.1% 31.5% 33.7% 34.9% 34.3% Non-residential 3 20.1% 20.5% 19.6% 19.2% 19.0% 19.6% 17.5% 14.4% 16.9% 17.4% Wholesale 48.2% 47.3% 49.3% 50.0% 50.6% 48.3% 51.0% 51.9% 48.2% 48.3% 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
259 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Wastewater Accounts, Billings & Discharge by Type of Customer Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)

1Beginning in fiscal year 2017, Treasure Island revenues are included under Municipal. 2Large 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Multiple-Family Residential
Number of accounts 36,248 36,313 36,293 36,323 36,326 36,387 36,467 36,528 36,595 36,603 Hundred cubic feet 10,979,262 10,199,389 9,854,965 9,996,526 10,282,601 10,222,770 10,536,087 10,262,890 9,909,343 9,919,161 Millions of gallons per day 22.5 20.9 20.1 20.2 21.1 20.9 21.5 21.0 20.3 20.3 Billings $ 99,603 100,178 101,730 110,829 126,789 133,454 146,548 153,611 161,553 167,375 Single-Family Residential
Number of accounts 111,125 111,173 111,137 111,268 111,385 111,681 111,869 111,398 111,786 111,995 Hundred cubic feet 7,220,346 6,296,323 5,993,115 6,058,304 6,228,159 6,067,155 6,324,480 6,369,781 5,753,733 5,469,845 Millions of gallons per day 14.8 12.9 12.2 12.3 12.8 12.4 13.0 13.1 11.8 11.2 Billings $ 64,377 61,048 61,177 66,661 76,534 79,971 89,688 95,297 96,687 96,545 Commercial 2
Number of accounts 15,430 15,460 15,411 15,388 15,494 24,465 24,721 24,941 25,278 25,564 Hundred cubic feet 7,931,611 7,594,556 7,366,932 7,171,298 7,230,465 6,978,016 6,246,081 4,154,011 4,818,146 5,131,013 Millions of gallons per day 16.3 15.6 15.1 15.1 14.8 14.3 12.8 8.5 9.9 10.5 Billings $ 76,740 76,042 77,387 80,968 89,803 91,069 86,650 ^ 61,071 78,207 86,205 Municipal 1, 2
Number of accounts 725 731 738 751 763 1,109 1,150 1,182 1,208 1,218 Hundred cubic feet 657,708 570,386 588,044 578,015 589,621 585,833 545,917 420,610 476,957 465,494 Millions of gallons per day 1.3 1.2 1.2 1.2 1.2 1.2 1.1 0.9 1.0 1.0 Billings $ 6,205 5,534 5,965 7,586 7,163 9,002 8,885 7,605 8,829 9,197 Suburban Retail (Watershed Keepers)
Number of accounts 9 9 8 8 8 8 7 7 7 6
Hundred cubic feet 303 259 200 221 321 217 216 203 62 150 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 $ 3 2 2 2 4 3 3 3 2 3
Unmetered Properties*
Number of accounts 306 302 302 297 294
Hundred cubic feet N/A N/A N/A N/A N/A
Millions of gallons per day N/A N/A N/A N/A N/A
Billings $ 82 112 117 118 110
Total
Number of accounts 163,537 163,686 163,587 163,738 163,976 173,956 174,516 174,358 175,171 175,680 Hundred cubic feet 26,789,230 24,660,912 23,803,256 23,804,362 24,331,167 23,853,991 23,652,781 21,207,495 20,958,241 20,985,663 Millions of gallons per day 54.9 50.5 48.6 48.8 49.9 48.8 48.4 43.5 43.0 43.0 Billings $ 246,927 242,804 246,261 266,046 300,293 313,581 331,886 317,704 345,396 359,435 Percentage of Revenue
Residential 66.4% 66.4% 66.2% 66.7% 67.7% 68.1% 71.2% 78.3% 74.8% 73.4% Non-residential 33.6% 33.6% 33.8% 33.3% 32.3% 31.9% 28.8% 21.7% 25.2% 26.6% Total Percentage of Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

No data prior to fiscal year 2019
Demographic & Economic Information
260 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Historical Hetchy Water Sales
Fiscal Years Ended 2014 to 2023

Note: May not total due to rounding.

Source
* City and County of San Francisco Financial System and San Francisco Public Utilities Commission Audited Financial Statements. ** San Francisco Public Utilities Commission Customer Care and Billing System. Fiscal year 2015 and prior was from Moccasin meter readings.

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Sales*
Groveland Community Services District $ 151,969 121,840 163,525 168,757 168,377 147,448 160,626 188,208 155,032 139,593 Lawrence Livermore 2,037,396 1,787,240 1,836,447 211,771 630,097 132,893 36,863 2,627,028 3,214,043 2,776,239 State of California 7,875 8,960 9,429 11,430 13,625 13,392 13,139 11,135 12,422 13,948 Other Residential Customers 15,165 13,391 14,368 15,680 14,726 7,943 1,425 3,469 3,979 3,889 Water Assessment 33,309,058 36,800,000 36,600,000 34,600,000 32,600,000 33,578,000 34,585,000 44,149,000 45,815,000 49,636,000 Total sales $ 35,521,463 38,731,431 38,623,769 35,007,638 33,426,825 33,879,676 34,797,053 46,978,839 49,200,476 52,569,669 Consumption (hundred cubic feet)**
Groveland Community Services District 200,328 156,801 161,249 154,319 166,624 143,437 158,037 188,595 151,839 134,734 Lawrence Livermore 376,662 307,606 282,531 28,389 81,029 14,267 2,543 266,323 298,585 251,881 State of California 3,026 1,174 1,230 1,302 1,459 1,346 1,235 960 996 1,119 Other Residential Customers 2,749 2,248 2,152 2,085 1,803 1,986 2,454 2,258 2,105 2,069 Total consumption 582,764 467,829 447,162 186,095 250,915 161,036 164,269 458,136 453,525 389,803

Demographic & Economic Information
261 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Historical Hetchy Power Electric Sales
Fiscal Years Ended 2014 to 2023

*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 Photovo ltaic 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 combustion 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 of 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 Customer To Meter Billing System.

Fiscal year 2020 and prior was from Utility Star Billing System. 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Sales (Megawatt hours)
General Fund Rate Subsidized ~~ 367,904 359,519 373,114 366,880 375,327 366,867 348,157 303,588 331,968 337,995 Enterprise Rate ~~ 493,254 487,869 495,272 484,070 471,554 477,477 452,951 404,810 422,200 433,999 Wholesale market power sales# 2,400 — 9,520 29,050 15,900 — 84,574 110,043 — — Modesto/Turlock Irrigation Districts 103,489 115,026 377,981 152,321 46,651 — — — — — Non-city Agencies* 117,289 101,605 99,568 95,297 112,157 146,527 133,805 128,945 132,250 144,908 Moccasin/City of Riverbank 9,206 25,472 30,451 9,114 9,650 8,235 7,220 7,672 20,939 22,881 Total sales 1,093,542 1,089,491 1,385, 906 1,136,732 1,031,239 999,106 1,026,707 955,058 907,357 939,783 Purchases** 76,905 45,465 113,154 808 188,052 157,227 58,477 6,598 6,505 46,806 Generation~ 1,032,589 988,649 1,532,068 1,726,072 1,302,461 1,212,348 1,287,848 975,790 1,223,074 1,300,487 Total purchases/generation 1,109,494 1,034,114 1,645, 222 1,726,880 1,490,513 1,369,575 1,346,325 980,400 1,229,579 1,347,293 Banked/(Withdrawal) 17,102 78,391 — — — — — — — —
Sales (Dollars in thousands) ***
General Fund Rate Subsidized ~~
$ 15,006 18,125 22,151 23,668 26,591 28,766 28,990 28,095 34,154 45,276 Enterprise Rate ~~ 60,766 65,022 65,897 67,627 67,598 73,224 74,895 68,696 81,707 81,105 Wholesale market power sales# 127 — 157 755 688 — 2,780 468 — — Modesto/Turlock Irrigation Districts 3,431 4,488 13,634 7,700 2,612 — — — — — Non-city Agencies * 16,305 14,628 15,610 16,350 19,359 23,258 22,255 22,902 24,753 29,582 Moccasin/City of Riverbank 607 1,100 1,095 550 577 539 625 887 2,377 2,524 Total sales $ 96,242 103,363 118,544 116,650 117,425 125,787 129,545 121,048 142,991 158,487 Purchases ** $ 4,408 2,045 5,546 1,859 8,671 11,832 7,381 6,271 6,430 7,971 Number of meters
Electric 2,271 2,305 2,627 3,068 3,547 3,747 4,077 5,385 5,110 6,238 ◊
◊
⌂
Demographic & Economic Information
262 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Historical CleanPowerSF Electric Sales
Fiscal Years Ended 2016 to 2023

^Large increase in residential is due to completion of citywide enrollment. **Starting FY2020, the sales dollar data is based on audited financial statements.

Source: *CleanPowerSF Management Reports.
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Power Sales (Megawatt hours)*
Residential 163 148,220 233,515 433,541 1,236,988 ^ 1,295,948 1,217,861 1,265,771 Commercial
Small Commercial Service 14,985 111,618 116,296 484,704 463,977 398,230 411,281 402,982 Medium Commercial Service 14,129 92,718 88,924 417,703 402,651 331,389 362,464 359,687 Large Commercial Service 12,999 93,968 118,327 797,052 870,886 853,230 869,320 860,008 Agricultural — 42 1,293 6,043 6,004 7,453 8,835 6,402
Street and Outdoor Lighting — — 38 1,452 1,515 1,477 1,467 1,395 Commercial Subtotal 42,113 298,346 324,878 1,706,954 1,745,033 1,591,779 1,653,367 1,630,474 Total Power Sales 42,276 446,566 558,393 2,140,495 2,982,021 2,887,727 2,871,228 2,896,245 Sales (Dollars in thousands)*
Residential
$ 14 10,782 15,993 30,787 102,434 ^ 98,172 109,135 149,734 Commercial
Small Commercial Service 1,226 8,649 8,716 38,830 38,314 29,289 36,411 44,609 Medium Commercial Service 1,386 7,278 6,809 34,254 33,505 24,516 33,369 40,497 Large Commercial Service 1,109 6,860 8,611 62,595 67,963 58,170 74,068 89,017 Agricultural — 3 59 329 326 366 581 543
Street and Outdoor Lighting — — 3 113 105 91 111 147
Commercial Subtotal 3,721 22,790 24,198 136,121 140,213 112,432 144,540 174,813 Total Sales
$ 3,735 33,572 40,191 166,908 242,647 210,604 253,675 324,547 Average Sale (in Dollars per Kilowatt hour)
Residential $ 0.08334 0.07274 0.06849 0.07101 0.08281 0.07575 0.08961 0.11829 Commercial
Small Commercial Service 0.08181 0.07749 0.07495 0.08011 0.08258 0.07355 0.08853 0.11070 Medium Commercial Service 0.09812 0.07850 0.07657 0.08201 0.08321 0.07398 0.09206 0.11259 Large Commercial Service 0.08530 0.07300 0.07277 0.07853 0.07804 0.06818 0.08520 0.10351 Agricultural — — 0.04563 0.05444 0.05430 0.04911 0.06576 0.08482 Street and Outdoor Lighting — — — 0.07782 0.06931 0.06161 0.07566 0.10538 Commercial Subtotal 0.08836 0.07639 0.07448 0.07974 0.08035 0.07063 0.08742 0.10722 Total Average Sales $ 0.08834 0.07518 0.07198 0.07798 0.08137 0.07293 0.08835 0.11206

Data not available
- CleanPowerSF
launched in May
2016.
263 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023 Statistical Section
Operating Information
Budgeted Full-Time Equivalent (FTEs) Employees by Division Operating and Capacity Indicators
Major Water Wholesale, Retail and Sewer Customer Accounts by Revenue
Major Electric Retail and Wholesale Customer Accounts by Revenue Performance Measures
Operating Information
264 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Budgeted Full-Time Equivalent (FTEs) Employees by Division Fiscal Years Ended 2014 to 2023

*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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Water Enterprise
City Distribution & Water Administration 259 260 268 276 291 304 307 300 314 312 Natural Resources 81 82 82 84 85 86 87 89 91 95
Water Quality 76 76 81 82 83 85 85 85 86 86
Water Resources 25 24 24 23 23 23 23 22 23 22
Water Supply & Treatment 236 229 229 232 232 229 229 231 239 239 Total Water 677 671 684 697 714 727 731 727 753 754
Wastewater Enterprise
Administration 12 11 14 12 12 12 13 12 18 14
Source Control* & Wastewater Labs 66 66 66 65 66 59 60 59 58 61 Environmental Engineering 51 53 53 54 54 58 58 59 60 62 Maintenance 147 141 141 137 138 135 135 141 149 152
Bayside Operations 117 114 115 114 114 111 113 112 112 104 Planning & Regulation 43 47 47 46 47 46 46 32 33 34
Sewer Collection Operations 51 51 51 51 51 59 59 63 65 79 Total Wastewater 487 483 487 479 482 480 484 478 495 506 Hetch Hetchy Water and Power Enterprise
Hetchy Water
Water Project Operations 195 201 207 203 206 211 216 217 218 214 Hetchy Power**
Energy Services 30 30 30 29 30 27 28 — — —
Long Range Planning & Light, Heat, and Power 53 51 51 52 52 54 54 109 111 121 Power Administration 23 23 23 20 21 21 21 — — —
Subtotal Hetchy Power 106 104 104 101 103 102 103 109 111 121 Total Hetch Hetchy Water and Power 301 305 311 304 309 313 319 326 329 335 CleanPowerSF
Administration 9 11 13 19 26 36 32
Total CleanPowerSF 9 11 13 19 26 36 32
Bureaus
Business Services Admin, AIC#, Audit and Financial
Services 70 71 71 73 73 73 73 72 74 77
Customer Services 106 106 106 103 103 104 104 103 103 110 Communications 22 22 22 22 22 21 21 21 21 21
General Manager and Others ^ 13 11 11 12 13 18 19 21 28 30 Strategic Planning, Real Estate Services, and
Community Benefits 18 18 18 18 18 17 17 22 23 24
Human Resource Services 57 58 59 58 58 58 58 62 69 72
Information Technology Services 74 78 78 78 78 78 78 79 81 80 Infrastructure 368 384 389 385 385 380 376 377 374 375 Total Bureaus 728 748 754 749 750 749 746 757 773 789
Total SFPUC annually budgeted positions 2,193 2,207 2,236 2,238 2,266 2,282 2,299 2,314 2,386 2,416 Annual Salary Ordinance Positions (AAO) ~ 2,404 2,430 2,456 2,473 2,493 2,542 2,557 2,599 2,657 2,720 Data not available - CleanPowerSF
launched in May 2016.
~
Operating Information
265 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Water Operating & Capacity Indicators
Fiscal Years Ended 2014 to 2023

*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 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 approximately 2.8 miles of pipe that was installed as part of the Mission Bay, Candlestick Point and Hunter’s View project. The decrease in fiscal year 2017 is mainly related to Pilarcitos Aqueduct.
^^Starting fiscal year 2016, water mains (miles) include suburban. @The Increase of water in the reservoir storage started in fiscal year 2019 due to the completion of the new Calaveras dam.

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

Water 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Water mains (miles)^^ 1,240 1,240 1,718 1,717 1,718 1,719 1,719 1,719 1,719 1,719 Water main breaks repaired 116 97 136 102 133 168 142 161 191 208 New service installations 1,144 837 710 1,162 733 628 610 543 428 496 Meter installed and replaced 1,030 1,360 1,395 2,209 1,888 1,699 1,817 1,835 718 871 Responses to fire alarms 28 22 20 20 24 13 12 16 14 23
Production and Consumption (millions of gallons)
Water production 80,582 69,553 64,454 68,995 73,330 71,272 75,034 73,767 68,271 64,446 Average daily production 221 191 176 189 201 195 205 202 187 177 Maximum daily production 300 255 242 283 272 275 277 274 237 241 Water consumption 79,425 69,284 61,932 63,706 69,331 67,319 69,934 68,812 66,005 62,227 Average daily consumption 217.7 189.9 169.2 174.6 190.0 184.5 190.9 188.6 180.8 170.5 Watershed area (acres)
Alameda 37,314 37,314 37,314 37,314 37,314 37,314 38,306 38,306 38,944 38,944 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 61,160 61,160 61,798 61,798 Reservoir storage (millions of gallons)*
Calaveras@ 5,488 6,491 8,774 11,986 8,220 13,026 20,390 19,170 19,533 24,952 Crystal Springs 16,707 17,380 17,103 17,385 16,192 17,015 16,940 16,711 16,251 17,565 Pilarcitos 815 767 783 872 773 838 849 622 776 827
San Andreas 5,603 5,626 5,786 5,935 5,587 5,483 5,381 5,123 5,113 5,223 San Antonio 13,579 14,433 14,927 14,576 13,263 14,835 14,434 14,917 14,587 15,872 Total 42,192 44,697 47,373 50,754 44,035 51,197 57,994 56,543 56,260 64,439 Treatment plant average capacity (millions of gallons)
Harry Tracy 21.2 29.3 35.9 45.3 33.2 38.0 34.7 31.7 29.9 29.2 Sunol Valley 10.0 16.9 27.0 39.6 16.5 26.1 11.1 6.9 22.6 29.3 Total 31.2 46.2 62.9 84.9 49.7 64.1 45.8 38.6 52.5 58.5

^
**
^
Operating Information
266 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Wastewater, Hetchy Water and Hetchy Power Operating & Capacity Indicators Fiscal Years Ended 2014 to 2023

@Starting FY2020, sanitary sewers and Transport/storage sewers is Included in the Collection System pipes category, which includes combined storm and sanitary collection system pipes, sewer mains, transport/storage boxes, other storage structures, and tunnels. *In addition to these regional re servoirs, 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 available for hydroelectric generation.
#Moccasin Low-Head was out of service in fiscal years 2015, and 2017 to 2023. ^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.
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Wastewater
Collection System pipes (miles)@
1,123 1,125 1,131 1,131
Sanitary sewers (miles)@ 993 993 993 993 993 993 N/A N/A N/A N/A Transport/storage sewers (miles)@ 17 17 17 17 17 17 N/A N/A N/A N/A Sewer breaks repaired 861 1,663 1,520 1,481 912 819 810 531 920 769 Inspection performed (miles) 90 156 80 93 135 215 191 61 56 55 Sewer replaced (miles) 12.8 14.9 19.5 13.6 11.0 11.4 15.2 8.9 3.8 8.1 Responses to customer calls 8,697 16,190 10,863 8,260 8,410 7,885 8,510 6,779 6,929 10,283 Treatment plant/ facilities average daily flow
(millions of gallons per day)
Oceanside plant 15.4 15. 6 16.0 18.4 15.3 16.5 14.5 13.9 13.9 16.2 North Point plant 3.1 4. 7 7.1 11.8 2.7 4.2 1.1 0.9 2.4 4.7 Southeast plant 66.4 64.4 65.4 74.7 61.9 70.2 56.1 48.7 52.2 63.9 Yerba Buena & Treasure Island 0.3 0. 3 0.3 0.3 0.3 0.4 0.3 0.3 0.3 0.4 Total 85.2 85.0 88.8 105.2 80.2 91.3 72.1 63.8 68.8 85.2 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
Reser
voir storage (millions of gallons)*
Hetch Hetchy 114,354 110, 745 117,424 111,755 117,231 113,020 116,653 101,808 115,948 107,925 Lake Eleanor 7,731 7, 731 8,677 7,610 8,186 8,677 8,398 8,429 8,614 7,883 Lake Lloyd (Cherry) 72,627 64, 025 88,478 77,951 83,067 87,829 86,332 82,150 85,989 83,869 Total 194,712 182,501 214,579 197,316 208,484 209,526 211,383 192,387 210,551 199,677 Hetchy Power
Hydroelectric generation (megawatt hours)
Holm 382,689 436, 499 654,952 919,492 431,659 508,060 538,201 339,180 535,177 553,559 Kirkwood 318,379 283, 922 528,724 482,996 510,888 401,779 422,278 328,410 390,066 438,612 Moccasin 320,577 255, 778 338,005 319,691 356,004 295,766 325,194 304,325 294,705 305,464 Moccasin Low-Head # 22 — 1,359 — — — — — — —
Total 1,021,667 976,199 1,523,040 1,722,179 1,298,551 1,205,605 1,285,673 971,915 1,219,948 1,297,635 ⌂
** ^^ **
Data not available FY2019 and prior
**
Operating Information
267 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Major Water and Sewer Customer Accounts by Revenue
Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)

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

Customer Type 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Water Wholesale Customers
California Water Service Company $ 47,436 46,911 48,792 57,541 63,489 60,859 66,944 67,781 64,447 70,051 Hayward Municipal Water System 21,193 21,475 21,475 28,613 32,316 31,103 31,518 32,130 30,880 29,140 Alameda County Water District 16,141 13,213 13,847 14,366 16,947 16,849 17,609 21,089 20,509 24,485 City of Palo Alto 15,855 15,743 16,946 19,975 21,985 21,134 21,773 21,705 21,323 21,671 City of Sunnyvale 12,201 12,885 15,600 17,810 21,265 19,800 21,029 21,460 19,768 20,375 City of Redwood City 12,847 13,151 14,661 17,169 18,781 18,190 19,408 18,948 17,758 18,241 Ci
ty of Mountain View 12,691 12,407 13,750 15,340 16,791 16,248 16,790 17,415 16,358 16,895 City of Milpitas 9,311 8,612 9,389 10,722 11,509 11,494 13,284 11,897 10,997 11,307 ESD/San Jose Municipal Water System 6,512 7,185 8,222 9,307 10,182 9,652 9,576 9,410 8,940 9,404 Estero Municipal Improvement District 5,709 6,384 7,216 9,307 9,475 9,015 9,576 9,470 8,630 8,838 Water Retail Customers
San Francisco International Airport 3,046 3,095 3,220 3,907 4,452 4,880 4,748 3,685 4,420 5,298 Lawrence Livermore National Laboratory N/A N/A 1,836 211 631 133 N/A 2,636 3,214 2,776 NASA Shared Services Center (NSSC) 1,551 1,484 1,347 1,741 2,514 2,243 2,481 2,924 2,399 2,457 University of California, San Francisco 1,364 1,100 1,435 1,534 1,689 1,694 2,185 2,304 2,529 2,419 Parkmerced Investors Properties, LLC 1,311 1,393 1,449 1,678 1,840 2,088 2,372 1,878 2,615 2,345 Golden Gate National Cemetery N/A 649 839 836 946 900 1,320 1,557 1,663 1,573 Recreation & Parks Department N/A 878 578 1,393 1,397 1,353 2,679 2,481 2,927 1,432 Public Health Department 628 672 808 1,040 1,168 1,157 1,318 1,223 1,261 1,243 San Francisco State University N/A N/A N/A N/A N/A N/A N/A N/A N/A 896 The Presidio 376 505 272 367 756 566 1,273 1,840 991 845 Sewer Retail Customers
Parkmerced Investors Properties, LLC 2,281 2,326 2,248 2,493 2,790 3,098 3,477 2,779 3,878 3,476 University of California, San Francisco 2,078 1,882 2,266 2,068 2,360 2,414 2,852 3,068 3,378 3,152 Public Health Department 897 647 1,041 1,334 1,547 1,461 1,635 1,513 1,091 1,534 1169 Market 671 607 579 640 743 694 614 651 894 1,185
San Francisco State University 601 601 618 648 860 810 803 496 804 881 NRG Energy Center San Francisco 779 782 874 926 970 1,043 889 653 632 817 San Francisco Lessee, LLC N/A N/A N/A N/A N/A N/A N/A N/A N/A 800 Bayside Village 315 325 477 461 525 569 641 701 795 793 Hyatt Corporation 671 607 579 640 743 694 N/A N/A N/A 633 The Stonestown Properties N/A N/A N/A N/A 595 722 761 831 617 628 *
*
Operating Information
268 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

Major Electric Retail and Wholesale Customer Accounts by Revenue Fiscal Years Ended 2014 to 2023
(Dollars in Thousands)

*Reflects reduced power generation and power available for sale. **Updated to reflect latest data.
#Excludes sales to CleanPowerSF and CAISO.

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 Customer To Meter Billing System. Fiscal year 2020 and prior was from Utility Star Billing System.

Electric Retail and Wholesale Revenue

Customer Type 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Retail Customers
San Francisco International Airport $ 39,199 41,614 42,687 43,070 43,434 44,574 46,248 41,626 51,110 46,604 Municipal Transportation Agency 5,403 6,466 7,631 8,193 8,594 8,249 7,758 6,353 9,607 14,489 SFPUC - Wastewater Enterprise 8,861 9,748 9,847 10,397 9,979 10,687 10,531 10,522 10,898 13,451 Administrative Services Agency 3,025 4,386 5,419 5,442 5,743 9,739 9,919 8,707 9,356 11,644 SFPUC - Water Enterprise 8,582 8,640 7,954 8,950 8,592 9,369 9,831 10,130 10,796 10,662 Department of Public Health 1,319 1,878 2,842 3,125 3,470 4,837 5,228 5,723 6,358 7,298 San Francisco Unified School District 1,588 1,864 2,214 2,285 2,394 2,252 2,193 1,929 3,068 4,092 Port of San Francisco 1,563 1,971 1,941 1,983 2,294 2,236 2,061 1,639 3,156 3,634 Recreation and Parks Department N/A N/A N/A N/A N/A N/A 1,167 1,145 1,145 2,075 San Francisco Public Library** 703 773 860 887 1,340 1,679 1,682 1,601 1,909 2,053 Wholesale Customers
CleanPowerSF (per WSPP) $ N/A N/A 367 1,893 5,846
Energy N/A N/A 3,284 580 299 31 32 5,275
Other N/A N/A 217 2,446 40 2,425 1,557 571
Western Systems Power Pool # (Exclude CPSF) 127 — 157 237 — Energy N/A N/A N/A N/A 668 — 2,780 1 — —
Other N/A N/A N/A N/A — — 325 468 — —
Modesto Irrigation District 1,879 2,666 6,345 8,003 2,422 N/A N/A N/A N/A N/A Turlock Irrigation District 3,263 3,331 8,615 387 N/A N/A N/A N/A N/A N/A Data not available
for CleanPowerSF
*
*
*
See below of details
See below for details
$0
$16,000
$32,000
$48,000
$64,000
$80,000
$96,000
$112,000
$128,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Dollars in Thousands
Fiscal Y ear

CleanPowerSF
Western Systems Power Pool
Turlock Irrigation District and Modesto Irrigation District Retail
Operating Information
269 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023 Performance Measures
Fiscal Year 2023
Source: SFPUC Strategic Plan
Target Projection Actual

1. Reliable Service and Assets
Number of dry weather main sewer overflows per 100 miles of main sewer <3 1.46 1.3 Percent of in-city service connections without water for more than 4 hours due to an unplanned outage 0.10% 0.06% 0.13%
Percent of streetlight outages complying with 48-hour SFPUC response goal; complex streetlights evaluated 100.0% 80.0% 95.0%
System renewal and replacement rates for in-City water distribution mains 15 miles 7.4 miles 9 miles System renewal and replacement rates for Wastewater pipelines 11.3 miles 9.3 miles 10.1 miles

2. Organizational Excellence
Number of employees over the maximum permissible overtime threshold (25% of straight time) 10.0 16.0 18.0

3. Effective Workforce
Number of promotions 300 286 342
Time to hire (days) 275 250 235

4. Financial Sustainability
Average residential Power bill as a percent of median income in San Francisco 0.76% 0.70% 0.72%
Average residential Wastewater bill as a percent of median income in San Francisco 0.70% 0.72% 0.69%
Average residential Water bill as a percent of median income in San Francisco 0.58% 0.60% 0.57%
Operating cost coverage (total operational revenues/total operating costs) for Power 0.86 1.14 1.07
Operating cost coverage (total operational revenues/total operating costs) for Wastewater 2.00 1.83 1.39
Operating cost coverage (total operational revenues/total operating costs) for Water 1.91 1.89 1.50
Power debt service coverage - Indentured Coverage 1.35x N/A 63.29 Wastewater debt service coverage - Indentured Coverage 1.35x N/A 3.17 Water debt service coverage - Indentured Coverage 1.35x N/A 1.85

5. Stakeholder and Community Interest
Number of adults and children who have participated in transformative engagement through SFPUC sponsored education programs 3,250 3,000 4,198 Percent of eligible customers enrolled in California Alternate Rates for Energy (CARE) for CleanPowerSF Customers 90.0% 82.3% 78.0%
Percent of Eligible electric customers receiving low-income discount rate 60.0% 60.0% 52.0% Percent of eligible households enrolled in Community Assistance Program (CAP) 17.53% 19.69% 17.53%
Percent of retail customers rating the SFPUC as "good" or better on a customer survey 90.0% 89.0% 89.0%

6. Environmental Stewardship
Average water used by San Francisco residential customers (Gallons Per Capita Per Day - gpcd) <= 50 42.5 42.9
Gallons of stormwater removed annually from the combined sewer system by green infrastructure 264 million gallons 255 million gallons 278 million gallons Percent of biogas going to beneficial uses - Oceanside Plant 75.0% 25.0% 0.0% Percent of biogas going to beneficial uses - Southeast Plant 50.0% 50.0% 36.0% Percent of CleanPowerSF customer account retention rate >= 90% 94.8% 95.0% Percent of water supplied by alternative sources to system as a whole 3.4% 3.5% 3.2% 270 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2023

ANNUAL COMPREHENSIVE FINANCIAL REPORT
Project Team Acknowledgements

Nancy L. Hom
Chief Financial Officer
Assistant General Manager, Business Services

Vivian Ai Yi Chen Laura Busch
Deputy Chief Financial Officer Deputy Chief Financial Officer

DIVISIONAL LEADERSHIP
Brendan Conran, Financial Reporting Director Incumbent, Accounting Services Director Joey Tse, Manager, Hetchy Water and Power, CleanPowerSF Howard Huang, Accounting Operations Manager Ying Yan, Manager, Water, and Wastewater Sanda Thaik, Capital Projects/Fixed Assets Accounting Manager Susan Quan, Principal Analyst, Audits & Financial Reports Matthew Low, Finance Project Management Lead

FINANCIAL SERVICES STAFF

Allen Cheuk Grant Moy III Maggie Davenport Sandy Chen
Amy Zhao Jane Cruz Maria Hernandez Saul Beltran
Anthony Morales Jane Louie Meici Chan Serena Jiang
Christy Huey Jason Chui Michael Fenton Tiffany Lam
Coral Liang Joanne Huang Mya Moehammady Tony Liang
Cynthia Papillon Justin Liu Nicholas Martin Wai Ling Chan Luk (Cathleen) Dante Mendoza Keith Chan Olena Volynets Wing Lui
David Yeung Kenny Ou Rachel Chen Vanessa Zhou
Edward Huang Kenneth Pang Rita Kong
Eva Costiniano-Jones Kim Tran Rong Chen Budget Division Evelyn Diolazo Linwan Lu Rossi Chan Capital Finance Division Francis San Felipe Lucie Chow Russell Valles Financial Planning Division

DESIGN AND CONTENT CONTRIBUTORS
External Affairs
Masood Ordikhani, Assistant General Manager
Communications Division
John Cote, Director
Cindy Chu, Manager
Angela Lowrey
Carmen Magana
Katherine DuTiel
Marshall Moxom
Robin Scheswohl
Roi Esguerra
Sabrina Wong
Tran Nguyen

Community Benefits Division

Power Enterprise and CleanPowerSF
Barbara Hale, Assistant General Manager
CleanPowerSF
Operations
Programs and Planning

Infrastructure
Stephen Robinson, Assistant General Manager
Construction Management Bureau

Real Estate Division
Stephen Robinson, Assistant General Manager

Water Enterprise
Steve Ritchie, Assistant General Manager
City Distribution Division
Hetch Hetchy Water
Natural Resources & Lands Management
Water Quality Division
Water Supply & Treatment

Wastewater Enterprise
Joel Prather, Interim Assistant General Manager
Business Strategy and Performance Collections
System Division

Business Services
Nancy L. Hom, CFO and Assistant General Manager
Customer Service Bureau
Information Technology Services
Strategy, Innovation, and Change

Human Resources
Wendy Macy, Chief People Officer
Employment Life Cycle

City and County of San Francisco, Office of the Controller Ben Rosenfield, Controller
Todd L. Rydstrom, Deputy Controller

CleanPowerSF Sfpuc CommissionMarch 12, 2024

CleanPowerSF Sfpuc Commission
March 12, 2024