FY 2023-24 Annual Comprehensive Financial Report — CleanPowerSF Sfpuc Commission, February 11, 2025 (part 2 of 2)

The SFERS assumptions about Basic and Supplemental COLA previously discussed also apply to the RBP, including the impact of the State Appeals Court determination that the full funding requirement for payment of Supplemental COLA included in Proposition C was unconstitutional and the impact is accounted for as a change in benefits.

On June 30, 2023, City’s membership in the RBP had a total of 327 active members and 160 retirees and beneficiaries currently receiving benefits. The Water Enterprise has 7 active members and 6 retirees and beneficiaries currently receiving benefits.

Sensitivity of Proportionate Share of the Net Pension (Asset)/Liability to Changes in the Discount Rate

The following presents the SFPUC’s allocation of the employer’s proportionate share of the net pension (asset)/liability (NPA/NPL) for the SFERS Plan, calculated using the discount rate, as well as what the SFPUC’s allocation of the employer’s proportionate share of the net pension (asset)/liability would be if it were calculated using a discount rate that is 1% lower or 1% higher than the current rate.

Target
Allocation
Long-term Expected Real
Rate of Return

37.0 % 4.8 %

23.0 7.9
Private Credit 10.0 5.8

10.0 4.7

10.0 3.4

8.0 0.6

5.0 3.5
(3.0) 0.6
100.0 %

Asset Class
Treasuries
Leverage
Private Equity
Hedge Funds/Absolute Returns
Global Equity
Total
Real Assets
Liquid Credit
Hetchy Hetchy SFPUC
Water Was tewater Water Power CleanPowerSF Total
$ 351,972 157,852 44,775 54,725 8,357 617,681 150,060 67,299 19,090 23,332 3,563 263,344 (16,414) (7,362) (2,088) (2,552) (390) (28,806)

1% Decrease Share of NPL @ 6.20%
1% Increase Share of (NPA) @ 8.20%
Share of NPL @ 7.20%

Fiscal Year 2024
SFERS Plan - Schedule of Employers’ Proportionate Share of the Net Pension (Asset)/Liability 149 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

The following presents the Water Enterprise’s allocation of the employer’s proportionate share of the total pension liability for the RBP, calculated using the discount rate, as well as what the Water Enterprise’s allocation of the employer’s proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1% lower or 1% higher than the current rate.

b) Other Postemployment Benefits

The SFPUC participates in the City’s single- employer defined benefit other postemployment benefits plan (the Plan). The Plan is maintained by the City and is administered through the City’s Health Service System. It provides postemployment medical, dental and vision insurance benefits to eligible employees, retired employees, surviving spouses, and domestic partners. Health benefit provisions are established and may be amended through negotiations between the City and the respective bargaining units. The City does not issue a separate report on its other postemployment benefits (OPEB) plan.

GASB Statement No. 75 requires that reported results must pertain to liability and asset information within certain defined timeframes. For this report, the following timeframes are used.

The SFPUC’s allocation percentage of the Plan was determined based on its percentage of citywide “pay-as-you-go” contributions for the years ended June 30, 2023 and June 30, 2022. The SFPUC’s net OPEB liability, deferred outflows/inflows of resources relat ed to OPEB, amortization of deferred outflows/inflows and OPEB expense to each department is based on SFPUC’s allocated percentage. The SFPUC’s proportionate share of the City’s OPEB elements as of June 30, 2023 (measurement date) was 6. 32%: 4.03% for the Water Enterprise, 1. 26% for the Wastewater Enterprise, 0. 41% for Hetchy Water, 0.51% for Hetchy Power, and 0.11% for CleanPowerSF. The SFPUC’s proportionate share of the City’s OPEB elements as of June 30, 2022 (measurement date) was 6.26%: 3.97% for the Water Enterprise, 1.31% for the Wastewater Enterprise, 0.40% for Hetchy Water, 0.47% for Hetchy Power, and 0.11% for CleanPowerSF.

Benefits – Permanent full-time and elected employees are eligible to retire and receive postretirement health insurance benefits when they are eligible for retirement benefits from the City and County of San Francisco’s Retirement System.

Hetchy Hetchy SFPUC
Water Was tewater Water Power CleanPowerSF Total
$ 305,993 135,684 38,624 47,207 5, 817 533,325 111,743 49,549 14,105 17,239 2,124 194,760 (48,394) (21,459) (6,108) (7,466) (920) (84,347) 1% Increase Share of (NPA) @ 8.20%

1% Decrease Share of NPL @ 6.20%
Fiscal Year 2023
SFERS Plan - Schedule of Employers’ Proportionate Share of the Net Pension (Asset)/Liability Share of NPL @ 7.20%

Fiscal Year 2024 Water
1% Decrease Share of NPL @ 2.65% $ 3,060
Measurement Date @ 3.65% 2,583
1% Increase Share of NPL @ 4.65% 2,207
Fiscal Year 2023 Water
1% Decrease Share of NPL @ 2.54% $ 4,270
Measurement Date @ 3.54% 3,600
1% Increase Share of NPL @ 4.54% 3,072
Replacement Benefits Plan - Schedule of Employers’
Proportionate Share of the Net Pension Liability
Fiscal Year 2024 Fiscal Year 2023
Valuation Date (VD) June 30, 2022 updated to June 30, 2023 June 30, 2022 Measurement Date (MD) June 30, 2023 June 30, 2022
Measurement Period (MP) July 1, 2022 to June 30, 2023 July 1, 2021 to June 30, 2022 San Francis co Health Service Sys tem Retiree Plan - Single-Employer 150 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

The eligibility requirements are as follows:

1 Age 53 with 20 years of credited service, age 60 with 10 years of credited service, or age 65 for Miscellaneous members hired on or after January 7, 2012 under Charter Section 8.603. 2 No service requirement for Safety members retiring under the industrial disability benefit or for surviving spouses/domestic partners of those killed in the line of duty.

Retiree healthcare benefits are administered by the San Francisco Health Service System and include the following:

Projections of the sharing of benefit-related costs are based on an established pattern of practice.

Contributions – Benefits provided under the Plan are currently paid through “pay -as-you-go” funding. Additionally, under the City Charter, active officers and employees of the City who commenced employment on or after January 10, 2009, shall contribute to the Retiree Health Care Trust Fund (Trust Fund) a percentage of compensation not to exceed 2% of pre -tax compensation. The City shall contribute 1% of compensation for officers and employees who commenced employment on or after January 10, 2009 until the City’s GASB Actuary has determined that the City’s portion of the Trust Fund is fully funded. At that time, the City’s 1% contribution shall cease, and officers and employees will each contribute 50% of the maximum 2% of pre-tax compensation.

Starting July 1, 2016, active officers and employees of the City who commenced employment on or before January 9, 2009, shall contribute 0.25% of pre- tax compensation into the Trust Fund.

Beginning on July 1
st of each subsequent year, the active officers and employees of the City who commenced employment on or before January 9, 2009, shall contribute an additional 0.25% of pre-tax compensation up to a maximum of 1%. Starting July 1, 2016, the City shall contribute

0.25% of compensation into the Trust Fund for each officer and employee who commenced employment on or before January 9, 2009. Beginning on July 1 st of each subsequent year, the
City shall contribute an additional 0.25% of compensation, up to a maximum of 1% for each officer and employee who commenced employment on or before January 9, 2009. When the City’s actuary has determined that the City’s portion of the Trust Fund is fully funded, the City’s 1% contribution shall cease, and officers and employees will each contribute 50% of the maximum 1% of pre -tax compensation. Additional or existing contribution requirements may be established or modified by amendment to the City’s Charter.

Fiscal Year 2024

For the fiscal year ended June 30, 2024, the City’s funding was based on “pay as you go” plus a contribution of $48,779 to the Retiree Healthcare Trust Fund. The “pay as you go” portion paid by the City was $229,922 for a total contribution of $278,701 for the fiscal year ended June 30, 2024.

The SFPUC’s proportionate share of contributions for fiscal year 2024 was $17,603: $11,241 for Water Enterprise, $3, 498 for the Wastewater Enterprise, $1,155 for Hetchy Water, $1,412 for Hetchy Power, and $297 for CleanPowerSF and will be recognized as a reduction of the net OPEB liability in the reporting year ending June 30, 2025.

Normal Retirement Miscellaneous Age 50 with 20 years of credited service1 Age 60 with 10 years of credited service
Safety Age 50 with 5 years of credited service
Disabled Retirement2 Any age with 10 years of credited service Terminated Vested 5 years of credited service at separation

Medical: PPO – Blue Shield (self-insured) and UHC Medicare Advantage (fully-insured) HMO – Kaiser (fully-insured) and Blue Shield (flex-funded) and Health Net (flex-funded) Dental: Delta Dental, DeltaCare USA and United Healthcare Dental V
ision: Vision benefits are provided under the medical insurance plans and are administered by Vision Service Plan. 151 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

Fiscal Year 2023

For the fiscal year ended June 30, 2023, the City’s funding was based on “pay -as-you-go” plus a contribution of $45,241 to the Retiree Healthcare Trust Fund. The “pay-as-you-go” portion paid by the City was $215,408 for a total contribution of $260,649 for the fiscal year ended June 30, 2023. The SFPUC’s proportionate share of contributions for fiscal year 2023 was $16,339:
$10,339 for Water Enterprise, $3,412 for the Wastewater Enterprise, $1,038 for Hetchy Water, $1,268 for Hetchy Power, and $282 for CleanPowerSF for fiscal year 2023 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 2024

As of June 30, 2024, the City reported net OPEB liabilities related to the Plan of $ 3,924,832.

The SFPUC’s proportionate share of the City’s net OPEB liability as of June 30, 2024 was $247,902: $158,301 for Water Enterprise, $49,260 for the Wastewater Enterprise, $16,269 for Hetchy Water, $19,883 for Hetchy Power, and $4,189 for CleanPowerSF.

For the year ended June 30, 2024 , the City’s recognized OPEB expense was $261,158.

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/(income) was $17,951:
$13,394 for Water Enterprise, ($ 647) for the Wastewater Enterprise, $2,390 for Hetchy W ater, $2,922 for Hetchy Power, and ($108) for CleanPowerSF.

As of June 30, 2024, 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:

Hetchy Hetchy SFPUC
Fis cal years Water Was tewater Water Power CleanPowerSF Total 2025 $ (531) 1,056 (238) (292) (571) (576) 2026 (459) 956 (79) (96) (456) (134) 2027 (877) 829 (170) (209) (355) (782) 2028 (2,223) 42 (362) (443) (244) (3,230) 2029 489 626 (12) (14) 33 1,122 Total $ (3,601) 3,509 (861) (1,054) (1,593) (3,600) 152 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

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.

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:

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 SF PUC
Fiscal Year 2023 Water W as 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) 2028 (2,480) (549) (323) (394) (273) (4,019) Total $ (8,798) (205) (874) (1,068) (2,195) (13,140) 153 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

Actuarial Assumptions

Fiscal Year 2024

A summary of the actuarial assumptions and methods used to calculate the total OPEB liability as of June 30, 2023 (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 updated to June 30, 2023
Measurement Date June 30, 2023
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 7.24% trending down to ultimate rate of 3.94% in 2075 Medicare trend starts at 7.24% trending down to ultimate rate of 3.94% in 2075 10-County average trend starts at 5.00% trending down to ultimate rate of 3.94% 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
Adjustment Factor
Published Table
PubG-2010 Employee
Adjustment Factor
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 ended June 30, 2019.

Adjustment Factor
PubS-2010 Employee
Adjustment Factor
PubS-2010 Employee
PubG-2010 Employee
154 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

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.

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, 2024 and June 30, 2023:

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):

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
PubG-2010 Employee
PubS-2010 Employee
PubG-2010 Employee
PubG-2010 Employee
PubS-2010 Employee
Published Table
Published Table
Adjustment Factor
PubG-2010 Employee
Adjustment Factor
Hetchy Hetchy
Water Was tewater Water Power CleanPowerSF Total 2024
$ 134,621 41,892 13,835 16,909 3,562 210,819 158,301 49,260 16,269 19,883 4,189 247,902 187,684 58,404 19,288 23,574 4,966 293,916

Healthcare Trend
1% Decrease

1% Increase

Hetchy Hetchy
Water Was tewater Water Power C leanPowerSF 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

1% Decrease
Healthcare Trend
1% Increase
155 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

Discount Rate

Fiscal Year 2024

The discount rate used to measure the Total OPEB Liability as of June 30, 2023 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 b enefit 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 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.

Asse t Cla ss
Target
Allocation
Long-term
Expected Real
Rate of Return
Equities
U.S. Large Cap 25.0 % 6.1 %
U.S. Small Cap 2.0 6.7
Developed Market Equity (non-U.S.) 13.0 7.2
Emerging Market Equity 10.0 7.4
Credit
Bank Loans 3.0 4.4
High Yield Bonds 3.0 4.7
Rate Securities
Investment Grade Corporate Bonds 7.0 2.8
Short-term Treasury Inflation-Protected Securities (TIPS) 5.0 1.00 Private Markets
Private Equity 10.0 8.4
Private Debt 5.0 6.4
Core Private Real Estate 5.0 3.9
Infrastructure (Core Private) 2.0 5.2
Risk Mitigating Strategies
Global Macro 10.0 3.1
Total 100.0 %
Hetchy Hetchy SFPUC
Water Was tewater Water Power CleanPowerSF Total
$ 185,275 57,654 19,040 23,272 4,903 290,144 158,301 49,260 16,269 19,883 4,189 247,902 136,180 42,377 13,995 17,105 3,604 213,261 Fiscal Year 2024
1% Decrease 6.00%
Discount Rate 7.00%
1% Increase 8.00%

156 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(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:

The City issues a publicly available financial report that includes the complete note disclosures and required supplementary information related to the City’s postemployment health care obligations. The report may be obtained on the City’s website https://www.sf.gov/annual-
comprehensive-financial-reports-acfr, 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, 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.

The following tables show the administrative costs including COVID- 19 Project expenses for the years ended June 30, 2024 and 2023:

SFPUC’s 75-year lease agreement with the San Francisco Recreation and Parks Department, 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 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%
Fiscal SFPUC
Years Total
2024 $ 59,952 48.1% 35,943 28.8% 12,805 10.3% 10,297 8.3% 5,687 4.5% 124,684 2023 55,121 48.2% 32,909 28.8% 11,778 10.3% 9,452 8.3% 5,132 4.4% 114,392 Hetchy PowerHetchy WaterWastewaterWater CleanPowerSF
157 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

occupancy. The following tables show the allocable share of expenses and prepayments for the years ended June 30, 2024 and 2023:

Water Enterprise

The Water Enterprise purchases water from Hetch Hetchy Water. The amounts, totaling $46,266 and $49,636 for the years ended June 30, 2024 and 2023, 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 $10,256 and $11,398 for the years ended June 30, 2024 and 2023, 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 $1,736 and $1,552 for the years ended June 30, 2024 and 2023, 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 except for fire hydrants, which are used for general public safety. In fiscal years 2024 and 2023, the Water Enterprise delivered water for fire hydrant purposes totaling $5 and $9, 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 $20,925 and $18,690 for the years ended June 30, 2024 and 2023, respectively, have been included in services provided by other departments in the accompanying financial statements.

During the fiscal year ended June 30, 2024, the Water Enterprise transferred $1,167 to the Arts Commission for the arts enrichment fund, $42 to Hetch Hetchy Water to fund various Mountain Tunnel Improvement projects, and $32 to the Office of the City Administrator for the Water Enterprise’s contribution to the Surety Bond Program. During the fiscal year ended June 30, 2023, the Water Enterprise transferred $20,000 to Hetch Hetchy Water to fund various Mountain Tunnel Improvement projects, and $32 to the Office of the City Administrator for the Water Enterprise’s contribution to the Surety Bond Program.

As of June 30, 2024, the Water Enterprise had interfund receivables of $102 from DPW relating to custom work projects. As of June 30, 2023, the Water Enterprise had interfund receivables of $115 from DPW relating to custom work projects.

The Water Enterprise a $0 and $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, 2024 and 2023, respectively.

Wastewater Enterprise

The Wastewater Enterprise purchases electricity from Hetch Hetchy Power at market rates. This amount, totaling $12,377 and $14,876 for the years ended June 30, 2024 and 2023, respectively, has been included in services provided by other departments in the accompanying financial statements.

Hetchy Hetchy SFPUC
Water Was tewater Water Power Total
Allocable share of expenses $ 46 21 4 12 83 Allocable share of prepayment 3,174 1,103 142 729 5,148 Hetchy Hetchy SFPUC
Water Was tewater Water Power Total
Allocable share of expenses $ 45 21 5 12 83 Allocable share of prepayment 3,220 1,124 146 741 5,231 2024
2023
158 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

The Wastewater Enterprise purchases water from Water Enterprise at retail rates. This amount, totaling $1,701 and $1,552 for the years ended June 30, 2024 and 2023, 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, bi lls 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 $8,711 and $9,156 for the years ended June 30, 2024 and 2023, respectively, have been included in services provided by other departments in the accompanying financial statements.

A variety of other City departments provide services such as purchasing, legal, data processing, telecommunications, and human resources to the Wastewater Enterprise and charge amounts designed to recover those departments’ costs. These charges totaling approximately $16,757 and $15,415 for the years ended June 30, 2024 and 2023, respectively, have been included in services provided by other departments in the accompanying financial statements.

As of June 30, 2024 and 2023, the Wastewater Enterprise has payables in the amount of $0 and $2,102 respectively, to MTA related to Walsh settlement and $405 and $518, respectively, which is associated with the SFPUC Headquarters Living Machine system.

As of June 30, 2024 and 2023, the Wastewater Enterprise has interfund receivable from DPW for the Mission Bay South custom work project of $82 and $128, respectively.

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 Lo t 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, 2024, the Wastewater Enterprise’s expenses and prepayment were $17 and $405, respectively, and as of June 30, 2023 were $17 and $421, respectively.

Hetchy Water

The Water Enterprise purchases water from Hetchy Water. Included in the operating revenues are the water assessment fees of $46,266 and $49,636 for the years ended June 30, 2024 and 2023, 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 $3,501 and $3,392 for the years ended June 30, 2024 and 2023 , respectively, have been included in services provided by other departments in the accompanying financial statements.

Hetchy Water received $42 and $20,000 for the years ended June 30, 2024 and 2023, respectively, from the Water Enterprise to fund upcountry projects.

Hetchy Power

For the years ended June 30, 2024 and 2023, operating revenues in sales of power to departments within the City were $125,197 and $121,046, respectively.

159 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(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 Hetchy Power and charge amounts designed to recover those departments’ costs. These charges totaling approximately $6,828 and $8,674 for the years ended June 30, 2024 and 2023, respectively, have been included in services provided by other departments in the accompanying financial statements.

The Water Enterprise also purchases electricity and gas from Hetchy Power. This amount totaled $10,256 and $11,398 for the years ended June 30, 2024 and 2023 , respectively.

The Wastewater Enterprise purchases electricity and gas from Hetchy Power. This amount totaled $12,377 and $14,876 for the years ended June 30, 2024 and 2023, respectively.

The Low Carbon Fuel Standard (LCFS) program, overseen by the California Air Resources Board (CARB), seeks to reduce the carbon intensity of California’s transportation fuel. 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. In Ordinance 0199 -19, the Board of Supervisor s authorized Hetchy Power to establish the Low Carbon Fuel Standard Fund to account for the revenue and expenditure from the credit sales. The Ordinance also allowed Hetchy Power to sell LCFS credits on behalf of other City agencies which includes Port of San Francisco (Port) and San Francisco International Airport (SFO). Revenue allocations and fees are based on agreements with the departments. LCFS revenue is reported as other non-operating revenues on the Statements of Revenues, Expenses, and Change in Net Position.

During the fiscal year ended June 30, 2024, Hetchy Power received total payments of LCFS credits of $1,838, of which $1,154 was transferred to other City departments ($684 for SFMTA, $372 for Port, and $98 for SFO). The remaining portion was reported as other non-operating revenues on the Statements of Revenues, Expenses, and Change in Net Position.

During the fiscal year ended June 30, 2023, Hetchy Power received total payments of LCFS credits attributable to SFMTA of $1,123, of which $561 was 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 pa y for premium charges. The 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 $11,421 and $11,486 as of June 30, 2024 and 2023, 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. A s of June 30, 2024 and 2023, projects completed throughout the City amounted to $3,037 and $3,544, respectively and are recorded as due from other City Departments.

Hetch Hetchy funded a project for the Treasure Island Development Authority and recorded receivables in connection with an upgraded submarine power cable, and gas and electrical charges for the Treasure Island as due from other City departments. This amount totaled $7,041 and $7,177 for the years ended June 30, 2024 and 2023, respectively.

As of June 30, 2024 and 2023, Hetchy Power recorded receivables of $405 and $518, respectively, due from Wastewater Enterprise for its share of costs relating to SFPUC Headquarters Living Machine System.

160 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

As of June 30, 2024, Hetchy Power recorded receivable of $754 from General Fund related to utility user taxes refund. 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. The amount was fully paid and Hetchy Power had no payable balance as of June 30, 2024.

CleanPowerSF

As of June 30, 2024, and 2023, operating revenue in sales of power to Hetchy Power were $1,421 and $1.549, respectively. Operating expenses in purchase of power from Hetchy Power were $13,521 and $5,846, respectively. Wholesale sales of energy, capacity and/or other electric power related products may be made between the CleanPowerSF and Hetchy Power, when available. CleanPowerSF and Hetchy Power transact for such products at prevailing market prices.

A variety of City departments provide direct services such as engineering, purchasing, legal, data processing, telecommunication, and human resources to CleanPowerSF and charge amounts designed to recover those departments’ costs. These charges totaling approximately $4,792 and $4,302 for the years ended June 30, 2024 and 2023, 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 $2,841 and $2,850 for the years ended June 30, 2024 and 2023, 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 t he 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 earthq uake under the SFPUC Property Insurance program. In the past three years, there was no settlements that exceeded insurance coverage.

2024 2023
Treasure Island Development Authority $ 7,041 7,177
SEA-related projects - Moscone Center 3,037 3,544
General Fund 754 —
Wastewater - 525 Golden Gate Headquarters Project 405 518 San Francisco Recreation and Park 105 209
Department of Public Works 79 38
Total due from other City departments 11,421 11,486
Less: current portion (1,558) (1,134)
Long-term portion as of June 30, net $ 9,863 10,352
161 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

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. The changes for the general liability (damage claims) for the years ended June 30, 2024, 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 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
(l) Tenants' and Users' Liability Insurance Policy Purchased Insurance (m) Active Assailant Policy Purchased Insurance

Coverage Approach
Water Was tewater
Hetchy
Water
Hetchy
Power CleanPowerSF
SFPUC
Total
Beginning of year $ 19,625 4,350 700 6,150 34 30,859
Claims & changes in estimates 18,823 112,467 96 9,273 915 141,574 Claims paid & changes in estimates (15,675) (1,734) (528) (11,649) (928) (30,514) End of year $ 22,773 115,083 268 3,774 21 141,919
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
2024
2023
2022
162 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

work can occur as soon as possible.

The changes in the liabilities for workers’ compensation for the years ended June 30, 2024, 2023, and 2022 are as follows:

*CleanPowerSF had no workers’ compensation liability as of June 30, 2024, 2023 and 2022.

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 e mployment p ractices liability p olicy 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.

Water Was tewater
Hetchy
Water
Hetchy
Power
SFPUC
Total
Beginning of year $ 9,735 7,998 1,219 2,238 21,190
Claims & changes in estimates 4, 336 2,680 337 663 8,016 Claims paid & changes in estimates (3,069) (1,666) (259) (565) (5,559) End of year $ 11,002 9,012 1,297 2,336 23,647
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 3,207 223 322 6,545 Claims paid & changes in estimates (2,648) (2,243) (125) (190) (5,206) End of year $ 8,973 7,546 1,218 2,250 19,987
2024*
2023*
2022*
163 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

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 omis sions, 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.

k) Builders’ Risk

Builders’ risk policies of insura nce are required to be provided by the contractor on all construction projects for the full value of construction.

l) Tenants’ and Users’ Liability Insurance Policy

A policy is retained to provide coverage for injuries and property damage to third parties relating to injuries sustained on premises and scheduled events, purchased for the Southeast Community Center.

m) Active Assailant Policy

A policy is retained to protect against third party injuries, first party property damage, business interruption, and crises management for events occurring on premise, purchased for the Southeast Community Center.

n) 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.

164 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

o) 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 threaten 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. The following tables show the commitments for the years ended June 30, 2024 and 2023:

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 $5,714 and $5,329 for fiscal years 2024 and 2023, 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.

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 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 signals, and bus shelters.

Hetch SFPUC
Fiscal years ended June 30: Water Was tewater Hetchy Total 2024 $ 248,510 675,849 154, 975 1,079,334 2023 220,706 762,085 136,322 1,119,113
Total outstanding commitments
165 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

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 2024 and 2023, Hetchy Power purchased distribution services for $27,932 and $29,008, 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 2024 and 2023, Hetchy Power purchased $11,945 and $3,676 of power and other related products, respectively. Sales of excess power, after meeting Hetch Hetchy’s obligations, were $6,532 or 149,000 MWh for fiscal year 2024 and $1,157 or 155,000 MWh for fiscal year 2023, 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 on average. Rates for fiscal years ended June 30, 2024 and 2023 were $354/MWh and $344/MWh, respectively. 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 i n 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 2024 and 2023, purchases of energy under the Agreement were $2,184, or 6,269 MWh, and $2,037, or 6,006 MWh, respectively.

APX, Inc

Hetchy Power and CleanPowerSF participate in the 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 e xceed $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 $456 and $471 as of June 30, 2024 and 2023, respectively. CleanPowerSF’s share was $264 and $226 as of June 30, 2024 and 2023, respectively.

On January 6, 2023, Amendment No. 1 was requested and approved to increase this contract 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, drought conditions, and global energy shortages.

166 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

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 ant icipated 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 4.6% of all enrolled accounts. The total power purchase cost, net of wholesale sales, were $270,340 and $259,532 in fiscal years 2024 and 2023, 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 2024 and 2023, amounts paid were $4,742 and $4,679, respectively.

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 C redit Agreement 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 quarters) 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 anot her 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). In March 2024 CleanPowerSF executed a fourth amendment to the Credit Agreement increasing the available amount from $20,000 to $75,000 and extended the agreement end date from March 2024 to March 2027. 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 for fiscal years ended June 30, 2024 and 2023, respectively. CleanPowerSF did not draw on the Credit Agreement during fiscal years 2024 and 2023. Accordingly, the uncommitted credit capacity under the Credit Agreement was $68,817 and $13,817 during fiscal years 2024 and 2023, 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.

CleanPowerSF was in compliance with all covenants and requirements of the Credit Agreement as amended for fiscal years ended June 30, 2024 and 2023.

167 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

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 In June 2018. the CPUC established the Disadvantaged Communities-Green Tariff (DAC- GT) program 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% bill 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) Office of Environmental Healt h Hazard Assessment (OEHHA). Similar to DAC -GT, the CSGT program provided a 20% bill discount to qualifying customers in DACs to benefit from the development of solar generation projects located in their own or nearby DACs.

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 was expected to start serving customers during fiscal year 2026, but the CPUC discontinued the program. As of June 30, 2024 and 2023, CleanPowerSF received $98 and $868, 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, 2024 and 2023, the pollution remediation liability of $1,271 is related to the Pacific Rod & Gun Club site construction projects for the full value of construction.

Wastewater

As of June 30, 2024, and 2023, the Wastewater Enterprise recorded $6,451 and $7,800 in pollution remediation liability, respectively for the Yosemite Creek toxic sediments. The decrease of $1,349 in pollution remediation liability in fiscal year 2024 is due to payment related to the Yosemite Creek Remediation effort.

168 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Notes to Basic Financial Statements
June 30, 2024 and 2023
(Dollars in thousands, unless otherwise stated)

Hetch Hetchy

Hetch Hetchy had no pollution remediation liability as of June 30, 2024 and 2023.

(18) Subsequent Events

a) Water Enterprise Interim Funding Program

On July 16, 2024 the SFPUC entered into an Amended and Restated Revolving Credit Agreement with U.S. Bank National Association to provide a revolving line of credit in the principal amount of up to $100,000. The commitment expiration date under the Revolving Credit Agreement is July 16, 2027.

b) Water Enterprise Interim Funding Program

On July 16, 2024 the SFPUC entered into a Second Amendment to Reimbursement Agreement, together with an Omnibus Amendment and Extension of Stated Expiration Date to the Irrevocable Letter of Credit with Barclays Bank PLC that, among other things, amends the Stated Expiration Date of the A-3 LOC to July 15, 2027.

c) Wastewater Enterprise 2024 Series ABCD Revenue (Refunding) Bonds

On July 31, 2024, the SFPUC issued its San Francisco Wastewater Revenue Bonds, 2024 Series A (SSIP) (Green Bonds) (Federally Taxable), 2024 Series B (Non- SSIP) (Federally Taxable), 2024 C (SSIP) (Green Bonds) and 2024 Series D (Non- SSIP) with a total principal of $1,142,975 to finance or refinance Wastewater Enterprise projects through new money and the refunding and retirement of commercial paper issued as interim financing for such projects in furtherance of the Wastewater Capital Improvement Program.

d) Hetchy Power, Issuance of Commercial Paper Notes

On October 10, 2024, the SFPUC issued $45,000 in Power Enterprise commercial paper notes to finance a portion of the design, acquisition, and construction of various capital projects in furtherance of the SFPUC’s Power Enterprise capital improvement program. The commercial paper notes are expected to be refinanced with proceeds of Power’s revenue bonds in fiscal year 2026, which is preliminary and subject to change.

169 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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 Postemployment Benefits Liability and Related Ratio - Other Postemployment Healthcare Benefits Plan

Schedules of Employer Contributions – Other Postemployment 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

170 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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 2024 (In thousands)

*Changes of Assumptions - There are no changes in the discount rate for the measurement period ended June 30, 2023, 2021, 2020 and 2018. For the measurement period ended June 30, 2022, the discount rate was decreased from 7.40% to 7.20%. For the measurement period ended June 30, 2019, the discount rate was decreased from 7.50% to 7.40%. 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 t otal covered payroll from SFERS (https://www.mysfers.org). The total covered payroll excludes 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 (SFERS).

See accompanying auditor’s report.
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
(MP 2014) (MP 2015) (MP 2016) (MP 2017) (MP 2018) (MP 2019) (MP 2020) (MP 2021) (MP 2022) (MP 2023) Proportion of net pension liability 93.78% 93.90% 94.22% 94.07% 94.10% 94.13% 94.39% 94.64% 94.87% 94.85% 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 3,456,687 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 3,810,429 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% 90.72% 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% 90.20% Water
Proportion of net pension liability 5.08% 5.00% 4.75% 4.45% 4.35% 4.23% 4.21% 4.27% 4.27% 4.34% Proportionate share of the net pension (asset)/liability $ 84,374 108,024 259,956 209,003 175,429 178,133 215,240 (100,407) 111,743 150,060 Covered payroll^ 121,868 126,494 127,381 128,165 132,464 134,785 142,254 146,662 151,750 165,373 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 69.23% 85.40% 204.08% 163.07% 132.44% 132.16% 151.31% -68.46% 73.64% 90.74% Wastewater
Proportion of net pension liability 2.27% 2.20% 2.17% 2.15% 2.11% 2.05% 2.03% 1.99% 1.99% 1.95% 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 67,299 Covered payroll^ 54,457 55,657 58,193 61,922 64,253 65,321 68,593 68,351 70,722 74,303 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 69.07% 86.56% 204.33% 163.06% 132.35% 132.02% 151.25% -71.35% 70.06% 90.57% 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% 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 19,090 Covered payroll^ 13,434 14,420 15,286 15,553 15,226 16,251 17,571 19,578 19,546 20,957 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 68.80% 83.86% 204.34% 162.13% 133.92% 132.16% 151.64% -71.06% 72.16% 91.09% 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% 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 23,332 Covered payroll 16,313 17,456 18,772 18,721 18,880 19,756 21,625 23,700 24,166 25,911 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 69.24% 84.68% 203.37% 164.62% 131.99% 132.87% 150.59% -71.75% 71.34% 90.05% CleanPowerSF
Proportion of net pension liability 0.02% 0.03% 0.04% 0.06% 0.07% 0.08% 0.10% Proportionate share of the net pension (asset)/liability $ 1,087 1,070 1,805 3,008 (1,833) 2,124 3,563 Covered payroll^ 576 914 1,275 2,027 2,404 2,843 3,810 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 188.72% 117.07% 141.57% 148.40% -76.25% 74.71% 93.52% 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% 7.62% Proportionate share of the net pension (asset)/liability $ 142,526 183,075 448,275 367,098 306,846 313,899 381,205 (181,926) 194,760 263,344 Covered payroll^ 206,072 214,027 219,632 224,937 231,737 237,388 252,070 260,695 269,027 290,354 Proportionate share of the net pension (asset)/liability as a percentage of covered payroll 69.16% 85.54% 204.10% 163.20% 132.41% 132.23% 151.23% -69.78% 72.39% 90.70% City - San Francisco Employee's Retirement
System (SFERS) Plan and Measurement Period (MP)*

Data not available - CleanPowerSF
launched in May 2016.
171 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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

Schedules of Employer Contributions – Pension Plan
Fiscal Years Ended 2015 to 2024
(In thousands)

(continued)
*In fiscal year 2015, the actuarially determined contributions were based on an estimate. 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 (https://www.mysfers.org). The total covered payroll for SFERS excludes 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 measurement 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) See accompanying auditor’s report.
2015* 2016 2017 2018 2019 2020 2021 2022 2023 2024
(
MP 2015) (MP 2016) (MP 2017) (MP 2018) (MP 2019) (MP 2020) (MP 2021) (MP 2022) (MP 2023) (MP 2024) Actuarially determined contributions1 $ 556,511 496,343 519,073 582,568 607,408 701,307 791,736 729,578 638,003 636,992 Contributions in relation to the
actuarially determined contributions1 (556,511) (496,343) (519,073) (582,568) (607,408) (701,307) (791,736) (729,578) (638,003) (636,992) Contribution deficiency (excess) $ — — — — — — — — — — C
overed 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 4,109,863 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% 15.50% Water
Actuarially determined contributions1 $ 28,280 24,497 24,638 25,922 26,440 29,647 33,367 31,151 27,925 27,653 Contributions in relation to the
actuarially determined contributions1 (28,280) (24,497) (24,638) (25,922) (26,440) (29,647) (33,367) (31,151) (27,925) (27,653) Contribution deficiency (excess) $ — — — — — — — — — — C
overed payroll^ $ 126,494 127,381 128, 165 132,464 134,785 142,254 146,662 151,750 165,373 178,368 Contributions as a percentage of
covered payroll 22. 36% 19.23% 19.22% 19.57% 19.62% 20.84% 22.75% 20.53% 16.89% 15.50% Wastewater
Actuarially determined contributions1 $ 12,608 10,930 11,270 12,523 12,816 14,352 16,083 14,543 12,383 12,402 Contributions in relation to the
actuarially determined contributions1 (12,608) (10,930) (11,270) (12,523) (12,816) (14,352) (16,083) (14,543) (12,383) (12,402) Contribution deficiency (excess) $ — — — — — — — — — — C
overed payroll^ $ 55,657 58,193 61, 922 64,253 65,321 68,593 68,351 70,722 74,303 80,142 Contributions as a percentage of
covered payroll 22. 65% 18.78% 18.20% 19.49% 19.62% 20.92% 23.53% 20.56% 16.67% 15.48% Hetchy Water
Actuarially determined contributions1 $ 3,097 2,806 2,961 3,128 3,073 3,574 4,130 4,149 3,525 3,518 Contributions in relation to the
actuarially determined contributions1 (3,097) (2,806) (2,961) (3,128) (3,073) (3,574) (4,130) (4,149) (3,525) (3,518) Contribution deficiency (excess) $ — — — — — — — — — — C
overed payroll^ $ 14,420 15,286 15,553 15,226 16,251 17,571 19,578 19,546 20,957 22,604 Contributions as a percentage of
covered payroll 21. 48% 18.36% 19.04% 20.54% 18.91% 20.34% 21.10% 21.23% 16.82% 15.56% Hetchy Power
Actuarially determined contributions1 $ 3,786 3,430 3,618 3,822 3,756 4,369 5,048 5,071 4,308 4,299 Contributions in relation to the
actuarially determined contributions1 (3,786) (3,430) (3,618) (3,822) (3,756) (4,369) (5,048) (5,071) (4,308) (4,299) Contribution deficiency (excess) $ — — — — — — — — — — C
overed payroll^ $ 17,456 18,772 18, 721 18,880 19,756 21,625 23,700 24,166 25,911 27,947 Contributions as a percentage of
covered payroll 21. 69% 18.27% 19.33% 20.24% 19.01% 20.20% 21.30% 20.98% 16.63% 15.38% CleanPowerSF
Actuarially determined contributions1 $ 135 161 300 466 546 531 657 Contributions in relation to the
actuarially determined contributions1 (135) (161) (300) (466) (546) (531) (657) Contribution deficiency (excess) $ — — — — — — —
C
overed payroll^ 914 1,275 2, 027 2,404 2,843 3,810 4,110 Contributions as a percentage of
covered payroll 14. 77% 12.63% 14.80% 19.38% 19.21% 13.94% 15.99% SFPUC Total
Actuarially determined contributions1 $ 47,771 41,663 42,487 45,530 46,246 52,242 59,094 55,460 48,672 48,529 Contributions in relation to the
actuarially determined contributions1 (47,771) (41,663) (42,487) (45,530) (46,246) (52,242) (59,094) (55,460) (48,672) (48,529) Contribution deficiency (excess) $ — — — — — — — — — — C
overed payroll^ $ 214,027 219,632 224, 361 231,737 237,388 252,070 260,695 269,027 290,354 313,171 Contributions as a percentage of
covered payroll 22. 32% 18.97% 18.94% 19.65% 19.48% 20.73% 22.67% 20.62% 16.76% 15.50%

City - SFERS Plan and
Measurement Period (MP)
Data not available - CleanPowerSF
launched in May 2016.
172 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplementary Information (Unaudited)
Schedules of Employer Contributions - Pension Plan
Fiscal Years Ended 2015 to 2024

Methods and assumptions updated per Office of the Controller.

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

Fiscal Year 2024 Fiscal Year 2023
Valuation date................................ July 1, 2021 July 1, 2020 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................ 7.20% (net of investment expenses) 7.40% (net of investment expenses) Inflation........................................... 2.50% 2.50% Projected salary increase.............. Wage inflation component: 3.25% Wage inflation component: 3.25% Fiscal Year 2022 Fiscal Year 2021
Valuation date................................ July 1, 2019 July 1, 2018 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................ 7.40% (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 July 1, 2016 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........................................... 3.00% 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 July 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 July 1, 2012 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...... 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 173 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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 2024
(In thousands)

*Fiscal year 2021 was the first year SFPUC Water Enterprise has Replacement Benefits Plan. Therefore, the four years data is sh own. RSI will be provided for 10 years as it becomes available.
^Water covered payroll is calculated based on the percentage of proportion of RBP liability by the total covered payroll.

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 auditor’s report.
2021* 2022 2023 2024
City Replacement Benefits Plan (MP 2020) (MP 2021) (MP 2022) (MP 2023) Plan total pension liability:

Service Cost…................................................X $ 1,976 2,571 2,894 1,299 Interest….........................................................X 4,776 4,076 4,726 5,462 Changes of benefits… ....................................X — — — — Differences between expected and X
actual experience…..................................X 7,800 24 ,547 (24,639) (23,541) Changes of assumptions… ............................X 37,013 7,274 (42,151) (2,403) Benefit payments….........................................X (3,634) (4,097) (4,473) (4,614) Net change in total pension liability…….. ........X 47,931 34,371 (63,643) (23,797) Total pension liability, beginning…..................X 137,272 185,203 219,574 155,931 Plan total pension liability, ending…..........X $ 185,203 219,574 155,931 132,134 Covered-employee payroll..............................X $ 3,414,923 3,470,495 3,589,396 3,848,752 Plan total pension liability as a percentage
of the covered-employee payroll ..............X $ 5.42% 6.33% 4.34% 3.43% Water Enterprise
Proportion of RBP liability 0.64% 1.85% 2.31% 1.95%
Proportionate share of RBP liability X $ 1,177 4,056 3,600 2,583 Covered payroll^ X 21,695 64,104 82,869 75,237 Proportionate share of the net pension (asset)/liability as X 5.43% 6.33% 4.34% 3.43% a percentage of covered payroll
174 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplementary Information (Unaudited)
Schedules of Changes in Other Postemployment Benefits Liability and Related Ratios Other Postemployment Healthcare Benefits Plan
Fiscal Years Ended 2018 to 2024
(In thousands)

(continued)

*Fiscal year 2018 was the first year of implementation of GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions. Therefore, seven 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 auditor’s report.

City Plan and Measurement Period (MP) 2018* 2019 2020 2021 2022 2023 2024 (
MP 2017) (MP 2018) (MP 2019) (MP 2020) (MP 2021) (MP 2022) (MP 2023) Total Other Postemployment Benefits (OPEB) Liability
Service Cost $ 125,195 127,850 133,736 141,642 155,840 154,800 145,520 Interest (includes interest on service cost) 272,942 290,029 283,520 314,907 300,122 306,758 311,626 Differences between expected and actual experience — (385,732) 194,068 (381,922) (151,947) (224,065) 135,809 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) (215,408) Net change in total OPEB liability 232,667 (34,753) 425,485 29,907 97,576 76,252 377,547 Total OPEB liability - beginning 3,659,019 3,891,686 3,856,933 4,282,418 4,312,323 4,409,899 4,486,151 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 4,863,698 Plan fiduciary net position
Contributions - employer $ 183,898 203,858 218,625 235,963 245,994 252,866 260,649 Contributions - member 31,686 41,682 51,024 60,236 61,582 66,455 73,426 Net investment income 17,368 14,105 26,959 22,746 128,916 (87,003) 80,490 Benefit payments, including refunds of
member contributions (165,470) (178,019) (185,839) (196,445) (206,439) (211,025) (215,408) Administrative expense (109) (137) (132) (113) (265) (189) (172) Net change in plan fiduciary net position 67,373 81,489 110,637 122,387 229,788 21,104 198,985 Plan fiduciary net position - beginning 107,104 174,477 255,966 366,603 488,989 718,777 739,881 Adjustments to OPEB — — — (1) — — — Plan fiduciary net position - ending 174,477 255,966 366,603 488,989 718,777 739,881 938,866 Net OPEB liability - ending $ 3,717,209 3,600,967 3,915,815 3,823,334 3,691,122 3,746,270 3, 924,832 Plan fiduciary net position as a
percentage of the total OPEB liability 4.48% 6.64% 8.56% 11.34% 16.30% 16.49% 19.30% Covered payroll $ 3,393,658 3,583,448 3,763,446 3,951,792 3,955,498 4,184,087 4,524,099 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% 86.75% Water
Proportion of net OPEB liability $ 166,336 150,771 163,684 148,771 144,115 148,601 158,301 Percentage of proportion of net OPEB liability 4.47% 4.19% 4.18% 3.89% 3.90% 3.97% 4.03% Covered payroll 151,858 150,037 157,315 153,769 154,437 165,968 182,471 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% 86.75% Wastewater
Proportion of net OPEB liability $ 59,517 53,567 58,183 50,711 49,123 49,035 49,260 Percentage of proportion of net OPEB liability 1.60% 1.49% 1.49% 1.33% 1.33% 1.31% 1.26% Covered payroll 54,337 53,306 55,919 52,415 52,641 54,766 56,781 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% 86.75% Hetchy Water
Proportion of net OPEB liability $ 15,872 15,404 16,350 14,444 14,240 14,907 16,269 Percentage of proportion of net OPEB liability

0.43% 0.43% 0.42% 0. 38% 0.39% 0.40% 0.41%
Covered payroll 14,490 15,329 15,714 14, 929 15,260 16,649 18,753 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104. 05% 96.75% 93.32% 89.54% 86.75% Hetchy Power
Proportion of net OPEB liability $ 19,400 18,826 19,983 17,653 17,405 18,220 19,883 Percentage of proportion of net OPEB liability 0.52% 0.52% 0.51% 0.46% 0.47% 0.49% 0.51% Covered payroll 17,711 18,734 19,205 18,246 18,652 20,349 22,919 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% 86.75% CleanPowerSF
Proportion of net OPEB liability $ 728 1,242 2,197 2,909 2,264 4,053 4,189 Percentage of proportion of net OPEB liability 0.02% 0.03% 0.06% 0.08% 0.06% 0.11% 0.11% Covered payroll 665 1,236 2,112 3,007 2,426 4,527 4,829 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% 86.75% SFPUC Total
Proportion of net OPEB liability $ 261,853 239,810 260,397 234,488 227,147 234,816 247,902 Percentage of proportion of net OPEB liability 7.04% 6.66% 6.66% 6.14% 6.15% 6.27% 6.32% Covered payroll 239,061 238,643 250,265 242,366 243,416 262,259 285,753 Net OPEB liability as a percentage of covered payroll 109.53% 100.49% 104.05% 96.75% 93.32% 89.54% 86.75%

175 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION
Required Supplementary Information (Unaudited)
Schedules of Employer Contributions - Other Postemployment Healthcare Benefits Plan Fiscal Years Ended 2018 to 2024
(In thousands)
*Fiscal year 2018 was the first year of implementation of GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions. Therefore, seven years data is shown. RSI will be provided for 10 years as it becomes available. **Fiscal year 2023 covered payroll data and percentage updated in fiscal y ear 2024. ^ Water, Wastewater, Hetchy Water, Hetchy Power, CleanPowerSF and SFPUC covered payroll is calculated bas ed on the percentage of proportion of net OPEB liability by the Total covered payroll. For fiscal year 2024, the percentage of proportion of net OPEB liability is based on FY2023.

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

See accompanying auditor’s report.
2018* 2019 2020 2021 2022 2023** 2024
(MP
2018) (MP 2019) (MP 2020) (MP 2021) (MP 2022) (MP 2023) (MP 2024) Charter Required or Actuarially determined contributions (ADC) $ 203,858 218,625 235,963 245,992 252,866 260,649 278,701 Contributions in relation to charter required contribution or ADC (203,858) (218,625) (235,963) (245,992) (252,866) (260,649) (278,701) Contribution deficiency (excess) $ — — — — — — — ,, Covered payroll $ 3,583,448 3,763,446 3,951, 792 3,955,498 4,184,087 4,524,099 4,956,257 Contributions as a percentage of covered payroll 5.69% 5.81% 5.97% 6.22% 6.04% 5.76% 5.62% Water
Charter Required or Actuarially determined contributions (ADC) $ 9,122 9,154 9, 863 9,572 9,873 10,339 11,241 Contributions in relation to charter required contribution or ADC (9,122) (9,154) (9,863) (9,572) (9,873) (10,339) (11,241) Contribution deficiency (excess) $ — — — — — — —
Covered payroll^ $ 150,037 157,315 153,769 154,437 165,968 182,471 199,902 Contributions as a percentage of covered payroll 6.08% 5.82% 6.41% 6.20% 5.95% 5.67% 5.62% Wastewater
Charter Required or Actuarially determined contributions (ADC) $ 3,264 3,252 3, 506 3,263 3,365 3,412 3,498 Contributions in relation to charter required contribution or ADC (3,264) (3,252) (3,506) (3,263) (3,365) (3,412) (3,498) Contribution deficiency (excess) $ — — — — — — —
Covered payroll^ $ 53,306 55,919 52,415 52,641 54,766 56,781 62,205 Contributions as a percentage of covered payroll 6.12% 5.82% 6.69% 6.20% 6.14% 6.01% 5.62% Hetchy Water
Charter Required or Actuarially determined contributions (ADC) $ 870 935 985 929 975 1,038 1,155 Contributions in relation to charter required contribution or ADC (870) (935) (985) (929) (975) (1,038) (1,155) Contribution deficiency (excess) $ — — — — — — —
Covered payroll^ $ 15,329 15,714 14,929 15,260 16,649 18,753 20,544 Contributions as a percentage of covered payroll 5.68% 5.95% 6.60% 6.09% 5.86% 5.54% 5.62% Hetchy Power
Charter Required or Actuarially determined contributions (ADC) $ 1,064 1,143 1, 204 1,136 1,192 1,268 1,412 Contributions in relation to charter required contribution or ADC (1,064) (1,143) (1,204) (1,136) (1,192) (1,268) (1,412) Contribution deficiency (excess) $ — — — — — — —
Covered payroll^ $ 18,734 19,205 18,246 18,652 20,349 22,919 25,108 Contributions as a percentage of covered payroll 5.68% 5.95% 6.60% 6.09% 5.86% 5.53% 5.62% CleanPowerSF
Charter Required or Actuarially determined contributions (ADC) $ 40 75 132 187 155 282 297 Contributions in relation to charter required contribution or ADC (40) (75) (132) (187) (155) (282) (297) Contribution deficiency (excess) $ — — — — — — —
Covered payroll^ 1,236 2,112 3,007 2, 426 4,527 4,829 5,290 Contributions as a percentage of covered payroll 3.24% 3.55% 4.39% 7.71% 3.42% 5.84% 5.61% SFPUC Total
Charter Required or Actuarially determined contributions (ADC) $ 14,360 14,559 15, 690 15,087 15,560 16,339 17,603 Contributions in relation to charter required contribution or ADC (14,360) (14,559) (15,690) (15,087) (15,560) (16,339) (17,603) Contribution deficiency (excess) $ — — — — — — —
Covered payroll^ $ 238,642 250,265 242,366 243,416 262,259 285,753 313,049 Contributions as a percentage of covered payroll 6.02% 5.82% 6.47% 6.20% 5.93% 5.72% 5.62% 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, 2024 and 2023
(In thousands)

176 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

(continued)

See accompanying auditor’s report.

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

Cash and investments with City Treasury...........................................................$ (22,684) (5.6) 20,888 5.9 (30,502) (39.6) (8,864) (4.0) 61,154 62.0 — — 19,992 1.7 Cash and investments outside City Treasury.....................................................xx 1 0.5 (21) (12.1) — — (113) (73.4) — — — — (133) (25.6) Receivables: xx
Charges for services (net of allowance for doubtful xx
accounts of $10,777, $12,865, $0, $1,699, and $9,226 in 2024 and xx $8,615, $10,060, $0, $3,923, and $7,923 in 2023)..........................................xx 15,540 24.3 8,245 20.6 66 16.3 4,079 33.2 9,368 22.5 — — 37,298 23.6 Wholesale balancing account, current portion....................................................xx 20,550 368.9 — — — — — — — — — — 20,550 368.9 Due from other City departments, current portion...............................................xx (13) (11.3) (46) (35.9) — — 424 37.4 — — (1) (0.9) 364 28.8 Due from other governments...............................................................................xx 366 100.0 — — (59) (3.4) (72) (11.1) — — — — 235 9.9 Interest ................................................................................................................xx 1,240 47.3 1,718 78.9 283 95.9 1,320 87.8 1,133 202.7 — — 5,694 79.6 Interest-Leases ...................................................................................................xx 24 2.6 — — — — — — — — — — 24 2.6 Restricted due from other governments..............................................................xx 93,433 258.5 (13,942) (100.0) — — — — — — — — 79,491 158.7 Leases receivable, current portion…...................................................................xx (275) (7.8) 14 6.6 — — — — — — — — (261) (7.0) Restricted interest and other receivable (net of allowance for doubtful accounts of $131, $345, $0, $0 and $0 in 2024 and
$30, $99, $0, $0 and $0 in 2023)....................................................................xx 279 7.9 (502) (42.1) — — (3,982) (95.9) — — — — (4,205) (47.5) Total current receivables.............................................................................xx 131,144 112.7 (4,513) (7.8) 290 12.0 1,769 9.0 10,501 24.9 (1) (0.9) 139,190 58.4 Prepaid charges, advances, and other receivables, current portion...................xx (951) (16.1) 7,572 1,328.4 662 719.6 4,762 301.6 (5,200) (92.2) — — 6,845 49.6 Inventory...............................................................................................................xx (366) (4.5) 317 9.5 (22) (10.0) 71 4.4 — — — — — — Restricted cash and investments outside City Treasury, current portion...........xx 29,202 268.8 (6,939) (14.2) — — 1,478 27.5 — — — — 23,741 36.6 Total current assets....................................................................................xx 136,346 25.0 17,304 3.7 (29,572) (37.1) (897) (0.4) 66,455 45.4 (1) (0.9) 189,635 12.7 Non-current assets: xx
Restricted cash and investments with City Treasury..........................................xx 50,015 238.2 (6,961) (18.0) 20,350 185.3 33,126 188.2 — — — — 96,530 109.5 Restricted cash and investments outside City Treasury, less current portion...xx (3,297) (5.0) (6,509) (9.8) — — 3,362 87.6 — — — — (6,444) (4.7) Leases receivable, less current portion…...........................................................xx (4,292) (10.7) (226) (18.2) — — — — — — — — (4,518) (10.9) Restricted interest and other receivable, and prepaid (net of allowance for doubtful accounts of $0, $0, $0, $0, and $0 in 2024 and xx $8, $29, $0, $0, and $0 in 2023)…………….....................................................xx (4) (100.0) (29) (7.0) — — — — — — — — (33) (7.8) Charges for services, less current portion (net of allowance for doubtful accounts of $664, $351, $0, $0, and $0 in 2024 and xx
$656, $566, $0, $0, and $0 in 2023)…………...................................................xx (9) (4.3) — — — — — — — — — — (9) (1.6) Wholesale balancing account, less current portion............................................xx (4,481) (100.0) — — — — — — — — — — (4,481) (100.0) Note receivable - Balboa Reservoir, less current portion…................................xx 505 4.6 — — — — — — — — — — 505 4.6 Prepaid charges, advances, and other receivables, less current portion...........xx (170) (5.0) (28) (2.5) (3) (2.1) 1,303 13.7 339 3.0 — — 1,441 5.6 Lease right-to-use assets, net of accumulated amortization..............................xx (1,209) (30.7) (1,272) (100.0) (16) (11.0) (21) (11.8) — — — — (2,518) (45.5) Subscription right-to-use assets, net of accumulated amortization…................xx (384) (55.3) (234) (55.5) (76) (55.5) (63) (55.3) (17) (56.7) — — (774) (55.4) Capital assets, not being depreciated and amortized.........................................xx 79,810 12.5 645,826 28.3 13,434 17.7 46,233 15.3 — — — — 785,303 23.8 Capital assets, net of accumulated depreciation and amortization....................xx 47,298 0.9 157,744 6.6 4,108 2.9 64,365 18.6 — — — — 273,515 3.5 Due from other City departments, less current portion.......................................xx — — — — — — (489) (4.7) — — 114 28.1 (375) (3.8) Total non-current assets.............................................................................xx 163,782 2.8 788,311 16.4 37,797 16.4 147,816 21.5 322 2.8 114 28.1 1,138,142 9.9 Total assets.................................................................................................xx 300,128 4.7 805,615 15.3 8,225 2.6 146,919 15.6 66,777 42.3 113 21.8 1,327,777 10.2 Deferred outflows of resources
Unamortized loss on refunding of debt................................................................xx (35,449) (28.4) (8) (100.0) — — — — — — — — (35,457) (28.4) Pensions..............................................................................................................xx 23,425 33.4 10,093 31.0 3,071 34.7 3,754 34.7 895 69.3 — — 41,238 33.3 Other postemployment benefits..........................................................................xx 1,358 4.7 1,323 11.5 (57) (1.8) (70) (1.8) (13) (1.3) — — 2,541 5.3 Total deferred outflows of resources..........................................................$ (10,666) (4.8) 11,408 25.9 3,014 24.9 3,684 24.9 882 38.3 — — 8,322 2.8 (C ti d)
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, 2024 and 2023
(In thousands)

177 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

See accompanying auditor’s report.
$ Change % Change $ Change % C hange $ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change Liabilities
Current liabilities:

Accounts payable....................................................................................$ 2,682 11.8 (4, 366) (18.8) (64) (6.2) (11,465) (45.9) 4,674 19.2 — — (8,539) (8.9) Accrued payroll........................................................................................xx 1,637 13.9 488 6.4 176 14.1 251 8.3 96 17.7 — — 2,648 10.9 Accrued vacation and sick leave, current portion....................................xx 528 7.5 543 9.0 140 12.4 171 9.2 19 4.8 — — 1,401 8.5 Accrued workers’ compensation, current portion...................................xx 274 14.3 176 11.7 12 5.6 16 4.0 — — — — 478 11.8 Due to other City departments, current portion.......................................xx (2,440) (100.0) (2,101) (94. 9) — — (1,946) (100.0) — — (1) (0.9) (6,488) (100.0) Damage claims liability, current portion..................................................xx (5,409) (48.6) 27,092 1,641. 9 (179) (59.7) 1,422 316.0 1 6.3 — — 22,927 169.3 Unearned revenues, refunds, and other, current portion........................xx 1,073 7.7 3,166 49.0 (4 ) (3.6) 724 12.3 1,840 29.9 — — 6,799 20.9 Bond, loan, lease and subscription interest payable, current portion.....xx 2,820 8.0 2,382 8.5 (1 ) (50.0) 1,094 68.5 — — — — 6,295 9.7 Bonds, current portion.............................................................................xx 3,045 2.3 7,300 26.0 — — 2,009 126.4 — — — — 12,354 7.5 Certificates of participation, current portion.............................................xx 135 4.1 36 4.2 — — 18 4.0 — — — — 189 4.1 Commercial paper, current portion.........................................................xx 190,000 100.0 — — — — 90,654 100.0 — — — — 280,654 100.0 State revolving funds loans payable, current portion……………...…….xx — — 3,103 122.8 — — — — — — — — 3,103 122.8 Lease liability, current portion…..............................................................xx (161) (13.5) (1,297) (100. 0) — — — — — — — — (1,458) (57.8) Subscription liability, current portion…....................................................xx (247) (61.8) (150) (61. 7) (50) (62.5) (40) (61.5) (12) (66.7) — — (499) (61.9) Current liabilities payable from restricted assets....................................xx (967) (2.4) 12,915 10.5 ( 1,720) (29.9) 2,394 10.4 — — — — 12,622 6.6 Total current liabilities............................................................................xx 192,970 67.3 49,287 21.2 ( 1,690) (17.1) 85,302 130.5 6,618 21.0 (1) (0.9) 332,486 53.1 Long-term liabilities: xx
Arbitrage rebate payable..........................................................................xx 869 100.0 8,333 4,432. 4 — — 184 100.0 — — — — 9,386 4,992.6 Net other postemployment benefits liability.............................................xx 9,700 6.5 225 0.5 1,362 9.1 1,663 9.1 136 3.4 — — 13,086 5.6 Net pension liability..................................................................................xx 37,300 32.3 17,750 35.8 4,985 35.3 6,093 35.3 1,439 67.7 — — 67,567 34.1 Accrued vacation and sick leave, less current portion............................xx (110) (1.7) (116) (2. 1) 74 6.5 90 4.9 (2) (0.6) — — (64) (0.4) Accrued workers’ compensation, less current portion............................xx 993 12.7 838 12.9 66 6.6 82 4.5 — — — — 1,979 11.5 Due to other City departments, less current portion...............................xx — — (114) (28. 1) — — — — — — 114 28.1 — — Damage claims liability, less current portion...........................................xx 8,557 100.7 83,641 3,097. 8 (253) (63.3) (3,798) (66.6) (14) (77.8) — — 88,133 508.9 Unearned revenues, refunds, and other, less current portion.................xx — — — — — — — — — — — — — — Liabilities payable from restricted assets, less current portion...............xx — — — — — — 3,354 100.0 — — — — 3,354 100.0 Bonds, less current portion.....................................................................xx 250,746 5.5 (59,159) (2. 2) — — 125,858 66.5 — — — — 317,445 4.2 Revenue Notes, less current portion.......................................................xx — — (349,556) (100. 0) — — — — — — — — (349,556) (100.0) Certificates of participation, less current portion.....................................xx (3,402) (3.8) (899) (3. 8) — — (463) (3.8) — — — — (4,764) (3.8) Commercial paper, less current portion..................................................xx (371,459) (100.0) 341,373 100.0 — — (116,352) (100.0) — — — — (146,438) (30.0) State revolving funds loans payable, less current portion……………....xx 96,343 58.9 (4,130) (1. 3) — — — — — — — — 92,213 19.2 Water Infrastructure Finance and Innovation Act (WIFIA) loans……......xx — — 800,074 653.9 — — — — — — — — 800,074 653.9 Bond, loan, lease, and subscription interest xx
payable, less current portion….............................................................xx 3,622 100.0 2,106 100.0 — — — — — — — — 5,728 100.0 Lease liability, less current portion….......................................................xx (1,028) (36.4) — — (16) (13.1) (19) (12.7) — — — — (1,063) (34.4) Subscription liability, less current portion…............................................xx (153) (49.7) (93) (50. 0) (30) (50.8) (25) (49.0) (6) (46.2) — — (307) (49.8) Pollution remediation obligations.............................................................xx — — (1,349) (17. 3) — — — — — — — — (1,349) (14.9) Total long-term liabilities........................................................................xx 31,978 0.6 838,924 23.0 6,188 19.5 16,667 4.6 1,553 23.7 114 28.1 895,424 9.4 Total liabilities........................................................................................xx 224,948 3.9 888,211 22.9 4,498 10.8 101,969 23.8 8,171 21.5 113 21.8 1,227,910 12.1 Deferred inflows of resources xx
Unamortized gain on refunding of debt…................................................xx 31,854 100.0 (1,098) (9. 7) — — — — — — — — 30,756 270.9 Pensions..................................................................................................xx (15,199) (53.3) (5,968) (59. 5) (2,201) (53.1) (2,690) (53.1) (371) (28.6) — — (26,429) (53.9) Leases….................................................................................................xx (4,975) (12.0) (250) (17. 2) — — — — — — — — (5,225) (12.1) Other postemployment benefits..............................................................xx (4,741) (17.5) (2,477) (29. 9) (187) (6.1) (228) (6.0) (630) (21.6) — — (8,263) (18.3) Total deferred inflows of resources.......................................................xx 6,939 7.1 (9,793) (31. 5) (2,388) (33.0) (2,918) (33.0) (1,001) (23.7) — — (9,161) (6.2) Net position xx
Net investment in capital assets................................................................xx (109,783) (23.9) 37,857 3.4 19,262 9.0 30,126 9.6 — — — — (22,538) (1.1) Restricted for debt service.........................................................................xx 30,099 205.8 (3,510) (100. 0) — — (56) (100.0) — — — — 26,533 145.9 Restricted for capital projects....................................................................xx 143,810 253.1 (21,355) (40. 2) 20,350 185.3 6,923 — — — — — 149,728 105.0 Unrestricted................................................................................................xx (6,551) (4.1) (74,387) (32. 2) (30,483) (62.0) 14,559 7.9 60,489 51.3 — — (36,373) (4.9) Total net position...................................................................................$ 57,575 8.3 (61,395) (4.4) 9, 129 3.3 51,552 9.9 60,489 51.3 — — 117,350 3.9

Business Type Activities – Proprietary Funds
Water Wastewater SFPUC TotalHetchy Power EliminationsHetchy Water CleanPowerSF 178 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

THE SAN FRANCISCO PUBLIC UTILITIES COMMISSION

Schedule of Changes in Revenues, Expenses, and Net Position – Dollar and Percentage Change vs. Prior Year Proprietary Funds
Years Ended June 30, 2024 and 2023
(In thousands)

See accompanying auditor’s report.
$ Change % Change $ Change % Change $ Change % Change $ Change % Change $ Change % Change $ C hange % Change Operating revenues:

Charges for services................................................................................$ (11,008) (1.7) 30,360 8.6 (3,240) (6.2) 10,307 5.1 39,817 12. 2 66,236 4.1 Rents and concessions............................................................................xx (4,726) (35.6) (83) (10.1) 35 27.6 42 26.9 — — ( 4,732) (32.9) Capacity fees............................................................................................xx (393) (31.3) (815) (26.5) — — — — — — ( 1,208) (27.9) Other revenues.........................................................................................xx 1,926 12.6 1,643 29.6 — — — — — — 3, 569 17.1 Total operating revenues......................................................................xx (14,201) (2.1) 31,105 8.5 (3,205) (6.1) 10,349 5.1 39,817 12.2 63, 865 3.9 Operating expenses: xx
Personnel services...................................................................................xx 24,070 17.7 16,109 18.0 6,484 35.2 8,875 22.6 (1,413) (13.2) 54, 125 18.4 Contractual services.................................................................................xx 3,209 19.0 3,108 15.0 1,079 36.5 2,804 25.9 (315) (4.8) 9, 885 17.0 Transmission/distribution and other power costs....................................xx — — — — — — (8,188) (11.6) 38 16.8 ( 8,150) (11.5) Purchased electricity................................................................................xx — — — — — — 7,480 92.6 19,479 7.3 26, 959 9.9 Materials and supplies..............................................................................xx 3,149 15.7 168 1.2 150 9.3 (161) (6.2) 3 5.3 3, 309 8.6 Depreciation and amortization..................................................................xx (542) (0.3) 4,683 6.0 (2) (0.0) 583 3.3 (253) (93.7) 4, 469 1.7 Services provided by other departments..................................................xx (2,272) (2.8) (1,453) (3.5) 109 3.2 (1,846) (21.3) 490 11.4 ( 4,972) (3.6) General and administrative and other.......................................................xx 41,489 79.9 178,078 1,017.4 (13,881) (81.1) (498) (1.5) (1,291) (17.3) 203, 897 159.7 Total operating expenses.....................................................................xx 69,103 15.0 200,693 76.8 (6,061) (12.1) 9,049 4.7 16,738 5.7 289, 522 23.0 Operating income (loss)......................................................................xx (83,304) (36.1) (169,588) (165.3) 2,856 106.3 1,300 (10.4) 23,079 72.1 ( 225,657) (59.3) Non-operating revenues (expenses): xx
Federal and state grants...........................................................................xx 12,414 100.0 12,104 7,963.2 (1,627) (100.0) (911) (97.2) (1,173) (100.0) 20, 807 535.0 Interest and investment income ..............................................................xx 13,941 125.0 22,972 898.7 2,798 612.3 10,003 267.4 5,499 1,357.8 55, 213 301.5 Interest expenses.....................................................................................xx (7,142) (3.3) (43,363) (45.4) 1 25.0 (4,986) (52.6) 1 100.0 ( 55,489) (17.3) Amortization of premium, discount, refunding loss, and issuance costsxx 3,854 38.7 32,912 228.8 — — (576) (36.4) — — 36, 190 139.5 Net gain from sale of assets.....................................................................xx (10,600) (83.7) (37) (32.5) (2) (50.0) (1) (33.3) — — ( 10,640) (83.2) Other non-operating revenues..................................................................xx (422) (1.5) 2,320 24.1 106 46.1 (4,165) (32.9) 61 18.8 ( 2,100) (4.1) Other non-operating expenses.................................................................xx 15 0.8 30 5.6 9 16.7 128 56.4 (659) 302.3 ( 477) (17.0) Net non-operating revenues (expenses)..............................................xx 12,060 7.8 26,938 38.9 1,285 56.9 (508) (5.5) 3,729 221.4 43, 504 (20.6) Change in net position before capital contributions and transfers.......xx (71,244) (93.8) (142,650) (427.3) 4,141 (83.7) 792 3.7 26,808 79.6 ( 182,153) (107.4) Capital contributions....................................................................................xx 50,882 94.9 45,340 1,654.7 — — 26,665 1,051.9 — — 122, 887 1,537.6 Transfers from the City and County of San Francisco...............................xx 500 10,000.0 (75) (100.0) (19,958) (99.8) — — — — ( 19,533) (97.3) Transfers to the City and County of San Francisco....................................xx 18,791 93.8 (177) (553.1) — — (76) (237.5) — — 18, 538 (92.2) Net capital contributions and transfers….............................................xx 70,173 (405.4) 45,088 1,620.1 (19,958) (99.8) 26,589 1,062.3 — — 121, 892 1,528.2 Change in net position..............................................................................xx (1,071) (1.8) (97,562) (269.8) (15,817) (63.4) 27,381 113.3 26,808 79.6 ( 60,261) (33.9) Net position at beginning of year.................................................................. xx 58,646 9.3 36,167 2.7 24,946 10.0 24,171 4.9 33,681 39.9 177, 611 6.3 Net position at end of year...........................................................................$ 57,575 8.3 (61,395) (4.4) 9,129 3.3 51,552 9.9 60,489 51. 3 117,350 3.9

Water

Business Type Activities – Proprietary Funds
SFPUC TotalWastewater Hetchy Water Hetchy Power CleanPowerSF www.mgocpa.com Macias Gini & O’Connell LLP
2121 N. California Blvd., Suite 750

Walnut Creek, CA 94596
179 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024 I
ndependent 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 The San Francisco Public Utilities Commission, the
Honorable Mayor, and the Board of Supervisors of
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 business-type activities and each major fund of the San Francisco Public Utilities Commission (SFPUC) as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the SFPUC’s basic financial statements, and have issued our report thereon dated December 20, 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 opinions 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.
180 Financial Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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
December 20, 2024

181 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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 182 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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
183 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Department-wide
Comparative Highlights of Revenues and Expenses
Fiscal Years Ended 2024 and 2023
(Dollars in Thousands)

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

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

Financial Trends
184 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Water Fund
Comparative Highlights of Revenues and Expenses
Fiscal Years Ended 2024 and 2023
(Dollars in Thousands)

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

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

Financial Trends
185 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Wastewater Fund
Comparative Highlights of Revenues and Expenses
Fiscal Years Ended 2024 and 2023
(Dollars in Thousands)

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

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

Financial Trends
186 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Hetchy Water Fund
Comparative Highlights of Revenues and Expenses
Fiscal Years Ended 2024 and 2023
(Dollars in Thousands)

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

Financial Trends
187 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Hetchy Power Fund
Comparative Highlights of Revenues and Expenses
Fiscal Years Ended 2024 and 2023
(Dollars in Thousands)

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

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

Financial Trends
188 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

CleanPowerSF
Comparative Highlights of Revenues and Expenses
Fiscal Years Ended 2024 and 2023
(Dollars in Thousands)

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

189 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024 Financial Trends
Department-wide - Changes in Net Position
Fiscal Years Ended 2015 to 2024
(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: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Charges for services $ 792,199 807,259 895,472 989,842 1,172,573 1,303,411 1,259,466 1,375,765 1,598,926 1,665,162 Rents and concessions 13,336 13,096 9,734 13,813 13,989 13,135 14,624 14,719 14,387 9,655 Other operating revenues 24,317 25,672 22,445 29,043 32,296 32,217 27,182 31,962 25,191 27,552 Subtotal operating revenues 829,852 846,027 927,651 1,032,698 1,218,858 1,348,763 1,301,272 1,422,446 1,638,504 1,702,369 Interest and investment income/(loss) 8,175 6,060 8,511 11,694 46,639 32,103 30 (26,202) 18,315 73,528 Other non-operating revenues 63,430 51,972 58,422 55,705 52,483 129,198 72,337 86,326 67,553 75,620 Subtotal non-operating revenues 71,605 58,032 66,933 67,399 99,122 161,301 72,367 60,124 85,868 149,148 Total revenues $ 901,457 904,059 994,584 1,100,097 1,317,980 1,510,064 1,373,639 1,482,570 1,724,372 1,851,517 ^

190 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024 Financial Trends
Department-wide - Changes in Net Position
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)

______________________________________________________________________________________________

#Fiscal year 2022 implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs). *Fiscal year 2021, Capital Contrib utions of $4,180 was from Department of Public Works, fiscal year 2023 of $7,992 was from a developer for HOPE SF projects and fiscal year 2024 of $130,879 was from a developer for Pier 70 Phase 1 project, Treasure Island Stage 1 project and Yerba Buena Is land Street Improvements project.
^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 Postemployment 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: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Personnel services $ 220,385 227,930 365,494 271,888 248,189 275,892 291,245 201,290 293,894 348,019 Contractual services 35,216 34,915 31,563 39,408 44,832 50,821 48,299 50,048 58,030 67,915 Purchased power & related costs 20,296 26,792 43,407 64,732 170,275 223,601 233,682 297,990 344,036 362,845 Materials and supplies 24,842 26,128 23,972 28,024 25,130 26,695 25,554 31,228 38,626 41,935 Depreciation and amortization 163,525 173,978 191,997 193,457 200,712 226,194 241,810 251,516 258,424 262,893 Services provided by other departments 104,535 106,476 105,417 102,199 108,043 109,444 121,130 125,955 137,277 132,305 General and administrative and
Other operating expenses 88,559 88,615 98,327 106,960 130,003 136,755 188,105 171,654 127,659 331,556 Subtotal operating expenses 657,358 684,834 860,177 806,668 927,184 1,049,402 1,149,825 1,129,681 1,257,946 1,547,468 Interest expenses 161,712 178,864 179,819 192,183 224,867 237,271 221,622 297,068 319,924 375,413 Amortization of premium, discount,
refunding loss, and issuance costs (10,554) (11,950) (15,090) (19,188) (23,722) (22,627) (16,498) (18,105) (25,942) (62,132) Non-operating expenses 7,916 4,439 4,466 4,129 3,766 1,652 3,582 1,938 2,809 3,286 Subtotal non-operating expenses 159,074 171,353 169,195 177,124 204,911 216,296 208,706 280,901 296,791 316,567 Total expenses 816,432 856,187 1,029,372 983,792 1,132,095 1,265,698 1,358,531 1,410,582 1,554,737 1,864,035 Change in net position before capital contributions
and transfers 85,025 47,872 (34,788) 116,305 185,885 244,366 15,108 71,988 169,635 (12,518) Capital contributions — — — — — — 4,180 — 7,992 130,879 Transfers in (out) 52,806 17,899 (30,644) (28,371) 1,360 (805) 17,091 13,677 (16) (1,011) Change in net position 137,831 65,771 (65,432) 87,934 187,245 243,561 36,379 85,665 177,611 117,350 Net position at beginning of year
Beginning of year, as previously reported 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 3,001,386 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 2,087,620 2,225,451 2,291,222 2,182,991 2,270,925 2,458,170 2,701,731 2,738,110 2,823,775 3,001,386 Net position at end of year $ 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 3,118,736 ^^
⌂
^^
**
~
*
#^

Financial Trends
Water - Changes in Net Position
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
191 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

_______________________________________________________________________________________________________

(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: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Charges for services $ 400,023 393,582 438,207 495,138 509,703 550,753 550,306 539,526 661,241 650,233 Rents and concessions 12,284 12,081 8,813 12,906 13,010 12,124 13,735 13,765 13,282 8,556 Other operating revenues 13,740 13,853 13,311 17,595 19,678 20,474 18,395 19,826 16,568 18,101 Subtotal operating revenues 426,047 419,516 460,331 525,639 542,391 583,351 582,436 573,117 691,091 676,890 Interest and investment income/(loss) 5,789 3,595 4,331 6,448 15,650 10,517 1,374 (10,896) 11,156 25,097 Other non-operating revenues 47,314 31,253 37,405 39,064 32,399 94,734 45,874 41,871 40,679 42,071 Subtotal non-operating revenues 53,103 34,848 41,736 45,512 48,049 105,251 47,248 30,975 51,835 67,168 Total revenues $ 479,150 454,364 502,067 571,151 590,440 688,602 629,684 604,092 742,926 744,058

Financial Trends
Water - Changes in Net Position
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
192 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

_______________________________________________________________________________________________________

#Fiscal year 2022, implementation of GASB Statement No. 96, Subscriptions-Based Information Technology Arrangements (SBITAs). *Fiscal year 2021 of $4,180 from Department of Public Works, fiscal year 2023 of $2,717 from a developer for HOPE SF projects, and fiscal year 2024 of $53,599 from a developer for Pier 70 Phase 1 project, Treasure Island Stage 1 project and Yerba Buena Island Street Improvements project. ^Fiscal year 2021, implementation of GASB Statement No. 87, Leases. ⌂Fiscal year 2018, implementation of GASB Statement No. 75, Accounting and Financial Reporting for Postemployment 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.

Expenses: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Personnel services $ 99,192 103,027 182,034 128,295 111,594 119,943 132,528 83,385 135,709 159,779 Contractual services 12,729 13,451 10,664 14,131 13,715 14,523 14,029 12,562 16,919 20,128 Materials and supplies 12,667 12,896 12,564 15,936 13,421 14,050 13,175 15,719 20,046 23,195 Depreciation and amortization 95,384 106,666 118,826 118,751 120,815 142,228 145,444 148,777 155,714 155,172 Services provided by other departments 60,365 60,868 59,173 56,860 59,751 61,128 70,235 73,307 79,910 77,638 General and administrative and
Other operating expenses 16,613 17,878 38,566 36,174 37,798 46,245 73,371 68,014 51,955 93,444 Subtotal operating expenses 296,950 314,786 421,827 370,147 357,094 398,117 448,782 401,764 460,253 529,356 Interest expenses 137,106 153,258 148,075 164,001 177,998 191,246 184,678 213,681 214,913 222,055 Amortization of premium, discount, refunding loss,
and issuance costs (6,100) (8,849) (9,029) (13,540) (17,788) (13,752) (7,782) (9,875) (9,971) (13,825) Non-operating expenses 4,829 2,210 2,607 1,920 1,388 529 2,208 828 1,775 1,760 Subtotal non-operating expenses 135,835 146,619 141,653 152,381 161,598 178,023 179,104 204,634 206,717 209,990 Total expenses 432,785 461,405 563,480 522,528 518,692 576,140 627,886 606,398 666,970 739,346 Change in net position before capital contributions
and transfers 46,365 (7,041) (61,413) 48,623 71,748 112,462 1,798 (2,306) 75,956 4,712 Capital contributions — — — — — — 4,180 — 2,717 53,599
Transfers in (out) 50,995 33,244 (59,988) (30,986) (19,134) (13,585) 4,371 (15,631) (20,027) (736) Change in net position 97,360 26,203 (121,401) 17,637 52,614 98,877 10,349 (17,937) 58,646 57,575 Net position at beginning of year
Beginning of year, as previously reported 654,212 596,465 622,668 501,267 489,524 542,138 641,015 651,364 633,427 692,073 Cumulative effect of accounting change (155,107) — — (29,380) — — — — — — Beginning of year as restated 499,105 596,465 622,668 471,887 489,524 542,138 641,015 651,364 633,427 692,073 Net Position at end of year $ 596,465 622,668 501,267 489,524 542,138 641,015 651,364 633,427 692,073 749,648 ~ ⌂
*
^ #

Financial Trends
Wastewater - Changes in Net Position
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
193 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

_______________________________________________________________________________________________________

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

Revenues: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Charges for services $ 244,604 249,203 267,601 303,037 317,761 331,721 318,236 356,041 354,491 384,851 Rents and concessions 821 753 606 611 702 664 642 705 822 739 Other operating revenues 10,577 11,819 9,134 11,448 12,618 11,743 8,787 12,136 8,623 9,451 Subtotal operating revenues 256,002 261,775 277,341 315,096 331,081 344,128 327,665 368,882 363,936 395,041 Interest and investment income/(loss) 1,207 1,185 2,327 2,317 20,701 12,137 (1,187) (7,087) 2,556 25,528 Other non-operating revenues 6,564 8,263 8,633 5,330 6,164 5,596 4,911 25,454 9,910 24,297 Subtotal non-operating revenues 7,771 9,448 10,960 7,647 26,865 17,733 3,724 18,367 12,466 49,825 Total revenues $ 263,773 271,223 288,301 322,743 357,946 361,861 331,389 387,249 376,402 444,866

Financial Trends
Wastewater - Changes in Net Position
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
194 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

_______________________________________________________________________________________________________

*Fiscal year 2023 of $2,740 from a developer for HOPE SF projects and fiscal year 2024 of $48,080 from a developer for Pier 70 Phase 1 project, Treasure Island Stage 1 project and Yerba Buena Island Street Improvements project. #Fiscal year 2022, 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, Wastewater Enterprise recorded certain immaterial correction s 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 Postemployment 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: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Personnel services $ 76,396 79,088 115,288 91,977 80,693 91,013 90,449 63,456 89,726 105,835 Contractual services 13,841 15,069 13,825 16,061 19,040 19,357 16,489 18,572 20,777 23,885 Materials and supplies 9,815 10,192 8,736 9,446 9,853 8,991 9,091 11,844 14,306 14,474 Depreciation and amortization 50,254 50,799 55,441 55,591 60,033 62,967 74,343 78,105 78,039 82,722 Services provided by other departments 36,212 36,157 36,832 36,374 36,629 37,309 38,313 39,645 40,999 39,546 General and administrative and
Other operating expenses 29,967 30,248 14,098 29,457 53,565 42,622 63,488 45,536 17,503 195,581 Subtotal operating expenses 216,485 221,553 244,220 238,906 259,813 262,259 292,173 257,158 261,350 462,043 Interest expenses 22,791 22,251 28,474 24,978 43,803 43,216 34,944 77,751 95,520 138,883 Amortization of premium, refunding loss,
and issuance costs (5,347) (2,979) (5,806) (5,400) (5,697) (8,647) (8,497) (8,422) (14,387) (47,299) Non-operating expenses 280 485 383 414 1,013 52 409 482 535 505 Subtotal non-operating expenses 17,724 19,757 23,051 19,992 39,119 34,621 26,856 69,811 81,668 92,089 Total expenses 234,209 241,310 267,271 258,898 298,932 296,880 319,029 326,969 343,018 554,132 Change in net position before capital contributions
and transfers 29,564 29,913 21,030 63,845 59,014 64,981 12,360 60,280 33,384 (109,266) Capital contributions — — — — — — — — 2,740 48,080
Transfers in (out) (232) (16,025) (30,707) (26,960) (3,996) (1,188) (2,748) (161) 43 (209) Change in net position 29,332 13,888 (9,677) 36,885 55,018 63,793 9,612 60,119 36,167 (61,395) Net position at beginning of year
Beginning of year, as previously reported 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 Cumulative effect of accounting change due to error — — — (6,767) — — — — — — Cumulative effect of accounting change (69,147) — — (2,256) — — — — — — Beginning of year as restated 1,112,720 1,142,052 1,155,940 1,137,240 1,174,125 1,229,143 1,292,936 1,302,548 1,362,667 1,398,834 Net Position at end of year $ 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 1,337,439 ^^
~ ⌂
**
^
*
#

Financial Trends
Hetchy Water - Changes in Net Position
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
195 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

_______________________________________________________________________________________________________

(Continued)

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

Revenues: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Charges for services $ 38,731 38,624 35,008 33,427 33,880 34,797 46,979 49,200 52,570 49,330 Rents and concessions 104 118 142 133 125 156 111 112 127 162 Subtotal operating revenues 38,835 38,742 35,150 33,560 34,005 34,953 47,090 49,312 52,697 49,492 Interest and investment income/(loss) (74) (38) 46 218 2,670 1,932 (232) (2,932) 457 3,255 Other non-operating revenues 250 200 616 1,237 3,013 3,861 1,352 479 1,861 338 Subtotal non-operating revenues 176 162 662 1,455 5,683 5,793 1,120 (2,453) 2,318 3,593 Total revenues $ 39,011 38,904 35,812 35,015 39,688 40,746 48,210 46,859 55,015 53,085

Financial Trends
Hetchy Water - Changes in Net Position
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
196 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

______________________________________________________________________________________________

#Fiscal year 2022, 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 Postemployment 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: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Personnel services $ 11,557 12,183 21,998 14,516 13,707 16,304 19, 871 15,636 18,424 24,908 Contractual services 794 902 1,017 1,524 1,205 1,642 2, 398 2,675 2,956 4,035 Materials and supplies 1,321 1,191 1,161 1,101 1,133 1,337 1, 272 1,362 1,605 1,755 Depreciation and amortization 4,102 3,874 4,505 5,066 5,380 5,276 6, 028 6,480 6,524 6,522 Services provided by other departments 1,979 2,054 1,962 1,572 1,622 1, 853 2,517 3,129 3,392 3,501 General and administrative and
Other operating expenses 18,948 16,332 19,456 16,013 27,258 18,461 18, 433 23,017 17,110 3,229 Subtotal operating expenses 38,701 36,536 50,099 39,792 50,305 44,873 50, 519 52,299 50,011 43,950 Interest expenses — — — — — — 2 3 4 3
Non-operating expenses 313 68 68 68 — 11 63 37 54 45
Total expenses 39,014 36,604 50,167 39,860 50,305 44, 884 50,584 52,339 50,069 43,998 Change in net position before capital contributions
and transfers (3) 2,300 (14,355) (4,845) (10,617) ( 4,138) (2,374) (5,480) 4,946 9,087 Transfers in (out) — — 60,000 30,000 20,000 14,000 16, 000 30,001 20,000 42 Change in net position (3) 2,300 45,645 25,155 9,383 9,862 13, 626 24,521 24,946 9,129 Net position at beginning of year
Beginning of year, as previously reported 137,404 120,411 122,711 168,356 191,790 201,173 211, 035 224,661 249,182 274,128 Cumulative effect of accounting change (16,990) — — (1,721) — — — — — — Beginning of year as restated 120,414 120,411 122,711 166,635 191,790 201,173 211, 035 224,661 249,182 274,128 Net position at end of year $ 120,411 122,711 168,356 191,790 201,173 211,035 224, 661 249,182 274,128 283,257 ⌂~
^
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Financial Trends
Hetchy Power - Changes in Net Position
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
197 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

_______________________________________________________________________________________________________

(Continued)

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

Revenues: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Charges for services $ 108,841 125,850 120,789 118, 672 143,409 140,680 136,247 173,105 203,847 214,154 Rents and concessions 127 144 173 163 152 191 136 137 156 198 Subtotal operating revenues 108,968 125,994 120,962 118, 835 143,561 140,871 136,383 173,242 204,003 214,352 Interest and investment income/(loss) 1,253 1,318 1,718 2, 537 6,883 5,746 24 (4,001) 3,741 13,744 Other non-operating revenues 9,302 12,256 11,764 10, 073 10,907 25,006 19,273 15,763 13,605 8,528 Subtotal non-operating revenues 10,555 13,574 13,482 12, 610 17,790 30,752 19,297 11,762 17,346 22,272 Total revenues $ 119,523 139,568 134,444 131, 445 161,351 171,623 155,680 185,004 221,349 236,624

Financial Trends
Hetchy Power - Changes in Net Position
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
198 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

______________________________________________________________________________________________

*Fiscal year 2024 $29,200 capital contributions were from a developer for Pier 70 Phase 1 project, Treasure Island Stage 1 project and Yerba Buena Island Street Improvements project.
#Fiscal year 2022, 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 Postemployment 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: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Personnel services $ 33,240 33,632 44,961 34,950 37, 583 40,712 40,756 34,646 39,300 48,175 Contractual services 7,852 5,493 4,916 5,526 6, 086 7,742 8,705 9,459 10,819 13,623 Purchased power & related costs 20,296 26,792 20,970 34,435 47, 437 48,831 42,693 58,252 78,658 77,950 Materials and supplies 1,039 1,849 1,510 1,541 672 2, 260 1,990 2,270 2,612 2,451 Depreciation and amortization 13,785 12,639 13,225 14,049 14, 484 15,723 15,650 17,769 17,877 18,460 Services provided by other departments 5,979 7,397 6,716 5,848 6, 833 6,426 6,137 6,253 8,674 6,828 General and administrative and
Other operating expenses 23,031 24,157 24,637 23,046 9, 593 26,433 29,709 27,694 33,612 33,114 Subtotal operating expenses 105,222 111,959 116,935 119,395 122, 688 148,127 145,640 156,343 191,552 200,601 Interest expenses 1,815 3,355 3,200 3,103 2, 936 2,740 1,972 5,627 9,486 14,472 Amortization of premium, discount,
and issuance costs 893 (122) (255) (248) ( 237) (228) (219) 192 (1,584) (1,008) Non-operating expenses 2,494 1,676 1,408 1,727 1, 365 1,060 902 591 227 99 Total expenses 110,424 116,868 121,288 123,977 126, 752 151,699 148,295 162,753 199,681 214,164 Change in net position before capital contributions
and transfers 9,099 22,700 13,156 7,468 34, 599 19,924 7,385 22,251 21,668 22,460 Capital contributions — — — — — — — — 2, 535 29,200
Transfers in (out) 2,043 680 51 (425) 4, 490 (32) (532) (532) (32) (108) Change in net position 11,142 23,380 13,207 7,043 39, 089 19,892 6,853 21,719 24,171 51,552 Net position at beginning of year
Beginning of year, as previously reported 376,146 366,523 389,903 401,686 406, 626 445,715 465,607 472,460 494,179 518,350 Cumulative effect of accounting change (20,765) — — (2,103) — — — — — — Less: CleanPowerSF beginning net position — — (1,424) — — — — — — — Beginning of year as restated 355,381 366,523 388,479 399,583 406, 626 445,715 465,607 472,460 494,179 518,350 Net position at end of year $ 366,523 389,903 401,686 406,626 445, 715 465,607 472,460 494,179 518,350 569,902 ⌂~
*
^ #

Financial Trends
CleanPowerSF - Changes in Net Position
Fiscal Years Ended 2017 to 2024
(Dollars in Thousands)
199 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

_______________________________________________________________________________________________________

(Continued)
^Fiscal year 2023, increase in charges for services is due to rate increase and higher consumptions. #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: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Charges for services $ — — 33,867 39,568 167,820 245,460 207,698 257, 893 326,777 366,594 Subtotal operating revenues — — 33,867 39,568 167,820 245,460 207,698 257, 893 326,777 366,594 Interest and investment income/(loss) — — 89 174 735 1,771 51 ( 1,286) 405 5,904 Other non-operating revenues — — 4 1 — 1 927 2, 759 1,498 386 Subtotal non-operating revenues — — 93 175 735 1, 772 978 1,473 1,903 6,290 Total revenues $ — — 33,960 39,743 168,555 247, 232 208,676 259,366 328,680 372,884 *Data not available -
CleanPowerSF
launched in May
2016.
# ^

Financial Trends
CleanPowerSF - Changes in Net Position
Fiscal Years Ended 2017 to 2024
(Dollars in Thousands)
200 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

_______________________________________________________________________________________________________

#Fiscal year 2022, 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 Postemployment 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: 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Personnel services $ 1,213 2,150 4,612 7,920 7,641 4,167 10, 735 9,322 Contractual services 1,141 2,166 4,786 7,557 6,678 6,780 6, 559 6,244 Purchased power & related costs 22,437 30,297 122,838 174,770 190,989 239,738 265, 378 284,895 Materials and supplies 1 — 51 57 26 33 57 60 Depreciation and amortization — — — — 345 385 270 17 Services provided by other departments 734 1,545 3,208 2,728 3,928 3,621 4, 302 4,792 General & administrative and
other operating expenses 1,570 2,270 1,789 2,994 3,104 7,393 7, 479 6,188 Subtotal operating expenses — — 27,096 38,428 137,284 196,026 212, 711 262,117 294,780 311,518 Interest expenses — — 70 101 130 69 26 6 1 —
Other non-operating expenses - - — — — — — — 218 877 Total expenses — — 27,166 38,529 137,414 196,095 212, 737 262,123 294,999 312,395 Change in net position - - 6,794 1,214 31,141 51,137 ( 4,061) (2,757) 33,681 60,489 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, 320 118,001 Cumulative effect of accounting change — (572) — — — — — — Beginning of year as restated 1,424 7,646 8,860 40,001 91,138 87,077 84, 320 118,001 Net position at end of year $ - - 8,218 8,860 40,001 91,138 87, 077 84,320 118,001 178,490 *Data not available -
CleanPowerSF
launched in May
2016.
⌂
~
^ #

Financial Trends
201 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Department-wide - Summary of Net Position by Component
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
_____________________________________________________________________________________________________________

^Fiscal years 2022 and 2023, net position reclassification of restricted payable and capital related liabilities from restricted for capital projects and/or unrestricted to net investment in capital assets balance updated. #Fiscal year 2022, 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 Postemployment 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.

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net investment in capital assets $ 1,859,439 2,011,814 1,979,445 2,087,816 2,147,756 2,194,130 2,271,638 2,042,920 2,098,355 2,075,817 Restricted for debt service 1,704 13,409 12,451 25,079 18,617 17,285 48,677 20,202 18,191 44,724 Restricted for capital projects 120,496 60,357 39,557 44,690 26,906 49,635 22,319 221,647 142,641 292,369 Restricted for other purposes — — — — — — — 181,926 — — Unrestricted 243,812 205,642 194,337 113,340 264,891 440,681 395,476 357,080 742,199 705,826 Total net position $ 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 3,118,736

@* ⌂ #
^

Financial Trends
202 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Water - Summary of Net Position by Component
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
___________________________________________________________________________________________________________________

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

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net investment in capital assets $ 425,073 543,327 495,868 504,476 563,457 527,856 517,302 512,313 460,213 350,430 Restricted for debt service 1,053 12,122 10,989 22,933 16,193 15,916 45,586 14,671 14,625 44,724 Restricted for capital projects 95,735 40,743 37,904 32,978 — 43,122 22,319 17,085 56,822 200,632 Restricted for other purposes — — — — — — — 100,407 — — Unrestricted 74,604 26,476 (43,494) (70,863) (37,512) 54,121 66,157 (11,049) 160,413 153,862 Total net position $ 596,465 622,668 501,267 489,524 542,138 641,015 651,364 633,427 692,073 749,648

* ⌂ @ #
^

Financial Trends
203 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Wastewater - Summary of Net Position by Component
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

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

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net investment in capital assets $ 1,088,552 1,098,723 1,095,165 1,172,623 1,133,662 1,183,288 1,253,789 1,002,813 1,110,957 1,148,814 Restricted for debt service 349 981 977 1,312 1,279 1,227 2,992 5,391 3,510 — Restricted for capital projects 20,327 18,205 1,653 — 18,505 — — 204,562 53,137 31,782 Restricted for other purposes — — — — — — — 48,770 — —
Unrestricted 32,824 38,031 48,468 190 75,697 108,421 45,767 101,131 231,230 156,843 Total net position $ 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 1,337,439

* ⌂ @ #
^

Financial Trends
204 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Hetchy Water - Summary of Net Position by Component
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

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

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net investment in capital assets $ 104,330 113,867 127,731 139,799 149,103 160,782 177,481 194,688 214,014 233,276 Restricted for debt service — — — — — — — — — —
Restricted for capital projects 4,434 1,409 — 11,712 8,401 6,513 — — 10,980 31,330 Restricted for other purposes — — — — — — — 13,912 — —
Unrestricted 11,647 7,435 40,625 40,279 43,669 43,740 47,180 40,582 49,134 18,651 Total net position $ 120,411 122,711 168,356 191,790 201,173 211,035 224,661 249,182 274,128 283,257

⌂* @ #
^

Financial Trends
205 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Hetchy Power - Summary of Net Position by Component
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

^Fiscal years 2022 and 2023, net position reclassification of restricted payable and capital related liabilities from restricted for capital projects and/or unrestricted to net investment in capital assets balance updated. #Fiscal year 2022 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 Postemployment 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.

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net investment in capital assets $ 241,484 255,897 260,681 270,918 301, 534 322,204 323,066 333,106 313,171 343,297 Restricted for debt service 302 306 485 834 1,145 142 99 140 56 — Restricted for capital projects — — — — — — — — 21,702 28,625 Restricted for other purposes — — — — — — — 17,004 — —
Unrestricted 124,737 133,700 140,520 134,874 143,036 143,261 149,295 143,929 183,421 197,980 Total net position $ 366,523 389,903 401,686 406,626 445,715 465,607 472,460 494,179 518,350 569,902

* ⌂ @ #
^

Financial Trends
206 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

CleanPowerSF - Summary of Net Position by Component
Fiscal Years Ended 2017 to 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

#Fiscal year 2022 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 Postemployment Benefits Other Than Pensions.

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

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net investment in capital assets $ — — — — — — — —
R
estricted for debt service — — — — — — — —
Restricted for capital projects — — — — — — — —
Restricted for other purposes — — — — — — — 1,833 — —
Unrestricted 8,218 8,860 40,001 91,138 87,077 82,487 118,001 178,490 Total net position $ 8,218 8,860 40,001 91,138 87,077 84,320 118,001 178,490 *Data not available -
CleanPowerSF
launched in May
2016.
⌂ @ #^

Financial Trends
207 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Department-wide Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

*Include amortizable and non-amortizable intangible assets. ^Fiscal year 2021 implementation of GASB Statement No. 87, Leases and fiscal year 2022 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.

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Buildings, equipment, structures and
Land improvements $ 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 12,667,975 Less accumulated depreciation (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) (4,520,990) Subtotal 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 8,146,985 Intangible assets, net of amortization* 38,885 36,674 34,904 36,956 34,853 32,528 35,102 34,731 33,816 32,694 Land and rights-of-way 67,213 67,213 67,301 70,947 71,228 155,089 154,001 163,194 163,075 163,075 Construction work in progress 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 3,915,730 Right-to-use lease assets, net of
amortization^ — — — — — — 10,898 6,773 5,538 3,020
Right-to-use subscription assets, net
of amortization^ — — — — — — — 3,175 1,398 624
Total capital assets, net of
depreciation and amortization $ 6,959,408 7,362,412 7,749,885 8,233,781 8,661,093 9,199,044 9,875,084 10,460,636 11,206,602 12,262,128

Financial Trends
208 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Water - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

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

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Buildings, equipment and structures $ 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 7,292,259 Less accumulated depreciation (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) (2,239,620) Subtotal 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 5,052,639 Intangible assets, net of amortization* 7,244 5,843 4, 671 7,321 5,816 4,089 2,763 3,152 2,331 2,657 Land and rights-of-way 26,811 26,811 26, 777 30,029 30,029 105,336 104,248 113,441 113,322 113,322 Construction work in progress 1,176,805 987,780 1, 195,840 1,400,051 462,606 492,682 532,602 444,254 526,994 606,804 Right-to-use lease assets, net of
amortization^ — — — — — — 4, 237 2,812 3,943 2,734
Right-to-use subscription assets, net
of amortization^ — — — — — — — 1, 577 695 311
Total capital assets, net of
depreciation and amortization $ 4,653,284 4,898,501 5, 053,464 5,263,233 5,388,658 5,530,545 5,592,036 5,621,983 5,652,952 5,778,467

Financial Trends
209 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Wastewater - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

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

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Buildings, equipment, structures and
Land improvements $ 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 4,274,422 Less accumulated depreciation (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) (1,715,934) Subtotal 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 2,558,488 Intangible assets, net of amortization* 3,921 3,594 3,457 3,320 3,183 3,046 7,407 7,107 7,333 6,373 Land and rights-of-way 35,737 35,737 35,737 35,737 36,018 44,572 44,572 44,572 44,572 44,572 Construction work in progress 362,110 362,958 548,179 652,521 765,624 910,338 1,340,644 1,724,417 2,232,963 2,878,789 Right-to-use lease assets, net of
amortization^ — — — — — — 5,922 3,597 1,272 —
Right-to-use subscription assets, net
of amortization^ — — — — — — — 957 422 188
Total capital assets, net of
depreciation and amortization $ 1,932,788 2,059,662 2,251, 700 2,491,126 2,721,804 3,062,288 3,612,772 4,051,005 4,686,346 5,488,410

Financial Trends
210 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Hetchy Water - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

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

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Buildings, equipment and structures $ 221,345 242,936 261,139 276, 177 281,562 311,783 323,486 334,499 341,203 351,741 Less accumulated depreciation (166,546) (170,199) ( 174,352) (179,139) (184,312) (189,350) (195,151) (201,236) (207,298) (213,521) Subtotal 54,799 72,737 86,787 97, 038 97,250 122,433 128,335 133,263 133,905 138,220 Intangible assets, net of amortization* 11,825 11,618 11,410 11, 203 10,996 10,789 10,581 10,374 10,167 9,960 Land and rights-of-way 3,003 3,003 3,055 3, 232 3,232 3,232 3,232 3,232 3,232 3,232 Construction work in progress 34,703 26,509 26,479 28, 326 37,625 24,328 35,333 54,138 72,450 85,884 Right-to-use lease assets, net of
amortization^ — — — — — — 74 61 145 129
Right-to-use subscription assets, net
of amortization^ — — — — — — — 314 137 61
Total capital assets, net of
depreciation and amortization $ 104,330 113,867 127,731 139, 799 149,103 160,782 177,555 201,382 220,036 237,486

Financial Trends
211 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Hetchy Power - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

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

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Buildings, equipment and structures $ 415,836 442,867 470,596 496,826 531, 177 547,972 603,800 623,687 666,812 749,553 Less accumulated depreciation (216,361) (228,706) (241,503) ( 254,455) (268,441) (283,845) (299,219) (316,490) (333,820) (351,915) Subtotal 199,475 214,161 229,093 242,371 262, 736 264,127 304,581 307,197 332,992 397,638 Intangible assets, net of amortization* 15,895 15,619 15,366 15,112 14, 858 14,604 14,351 14,098 13,985 13,704 Land and rights-of-way 1,662 1,662 1,732 1,949 1, 949 1,949 1,949 1,949 1,949 1,949 Construction work in progress 51,974 58,940 70,799 80,191 121, 985 164,749 171,175 262,392 298,020 344,253 Right-to-use lease assets, net of
amortization^ — — — — — — 90 73 178 157
Right-to-use subscription assets, net
of amortization^ — — — — — — — 256 114 51
Total capital assets, net of
depreciation and amortization $ 269,006 290,382 316,990 339,623 401, 528 445,429 492,146 585,965 647,238 757,752

Financial Trends
212 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

CleanPowerSF - Investments in Capital Assets
Summary of Intangible Assets, Property, Plant and Equipment Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

^Fiscal year 2021 implementation of GASB Statement No. 87, Leases and fiscal year 2022 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.

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Buildings, equipment and structures $ — — — — — — — — — — Less accumulated depreciation — — — — — — — — — —
Subtotal — — — — — — — — — —
Intangible assets, net of amortization — — — — — — — — — — Land and rights-of-way — — — — — — — — — —
Construction work in progress — — — — — — — — — —
Right-to-use lease assets, net of
amortization^ — — — — — — 575 230 — —
Right-to-use subscription assets, net
of amortization^ — — — — — — — 71 30 13
Total capital assets, net of
depreciation and amortization $ — — — — — — 575 301 30 13 Data not availble - Fiscal year 2021 implementation of GASB Statement No. 87, Leases and fiscal year 2022 implementation of GASB Statement No. 96, Subscriptions-based Information Technology Arrangements (SBITAs).

213 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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
214 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Water Rate History
Fiscal Years Ended 2015 to 2024
_______________________________________________________________________________________________________

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. 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.
6Up to 5% temporary drought surcharge due to water shortage declaration was added to retail volume charge and effective through April 2023. 7Three years of rates were approved on May 23, 2023.

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)
(0-4 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
2 $ 8.81 $ 4. 86 $ 6.52 10.1 $ 4.98 $ 6.67 9.4 $ 5.79 7.2 $ 2.93 19.6 2016
3 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
5 12.30 7.10 9.10 8.0 7.22 9.26 7.6 8.43 10.3 4.10 0.0
2020
5 13.28 7.85 9.61 8.5 7.94 9.73 8.4 9.14 8.4 4.10 0.0
2021
5 14.19 8.68 10.15 8.3 8.73 10.23 8.1 9.81 7.3 4.10 0.0 2022
5 15.17 9.60 10.71 8.4 9.60 10.76 8.1 10.55 7.5 4.10 0.0 2023
6 15.17 10.08 11.25 4.0 10.08 11.30 3.6 11.08 5.0 4.75 15.9 2024
7 16.64 10.33 11.47 3.8 10.19 10.94 2.5 11.12 0.4 5.21 9.7 Single-Family Multiple-Family Non-Residential
Retail Wholesale
Revenue Capacity
215 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Wastewater Rate History
Fiscal Years Ended 2015 to 2024
_______________________________________________________________________________________________________

1Four years of rates were approved on May 13, 2014.
2Effective July 1, 2015, the Single-Family Residential Tier 1 rate structure changed from 0-3 ccf to 0-4 ccf. 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. 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.
7Up to 5% temporary drought surcharge due to water shortage declaration was added to retail volume charge and effective through April 2023. 8Three years of rates were approved on May 23, 2023.
9In fiscal year 2024, the SFPUC implemented a stormwater component to the Wastewater bill. Residential customers with 6,000 square feet or less and with 6 or fewer dwelling units received the Simplified Residential Stormwater Rate. Tiers are determined by total square feet parcel area (Tier 1: 0-1,700 square feet. Tier 2: 1,701-3,300 square feet. Tier 3: 3,301 - 6,000 square feet).

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

Rates Per Hundred Cubic Feet
Fiscal
Years
Ended
June 30
Volume
Charge
($/ccf)
(0-4 ccf)
Volume Charge
($/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 1 $ 9.06 $ 11.23 6.1 $ 9.24 $ 11.48 10.0 $ 6.15 $ 0.44 $ 0.83 $ 0.87 2016 2 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 4 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 6 $ 0.98 $ 13.06 4.5 $ 13.06 3.5 $ 7.84 $ 0.52 $ 1.30 $ 1.33 2020 6 2.19 13.88 6.6 13.88 5.3 8.29 0.56 1.41 1.42
2021 6 3.60 14.89 9.1 14.89 7.4 8.86 0.60 1.53 1.54
2022 6 5.21 15.97 8.9 15.97 9.5 9.46 0.65 1.65 1.66
2023 7 5.21 16.75 4.6 16.75 4.5 9.93 0.68 1.73 1.74
2024 8 4.85 16.91 0.5 16.91 0.4 9.74 0.86 1.68 1.05
Fiscal
Years
Ended
June 30
Tier 1
Charge
($/1,000sq ft)
Tier 2 Charge
($/1,000 sq ft)
Tier 3 Charge
($/1,000 sq ft)
Permeable Area
Charge
($/1,000 sq ft)
Impermeable
Area Charge
($/1,000 sq ft)
2024 8,9 $ 2.31 $ 3.60 $ 5.41 $ 0.19 $ 1.89
Single-Family Multiple-Family Non-Residential
Multiple-Family Non-ResidentialSingle-Family
Simplified Residential Stormwater
Non-Residential and Residential
Over 6,000 square feet
Revenue Capacity
216 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Hetchy Power Electric Rate History
Fiscal Years Ended 2015 to 2024
_______________________________________________________________________________________________________

*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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Residential*
Residential Services - Multi-family $ 0.20526 0.21784 0.23073 0. 22894 0.23298 0.26429 0.28308 0.33772 0.35571 0.45412 Residential - Public Power
Tier 1 0.11451 0.11705 0.13391 0.14198 0.14610 0.14868 0.15537 0.17781 0.20880 0.22770 Tier 2 0.13018 0.13306 0.15222 0.16139 0.16607 0.16900 0.17661 0.20211 0.25056 0.27324 Tier 3 0.26649 0.27238 0.31160 0.33037 0.33995 0.34595 0.36153 0.41372 0.37584 0.40986 Commercial
Small General Service 0.21152 0.22560 0. 23020 0.23786 0.24931 0.26884 0.27749 0.32523 0.33903 0.44866 Medium General Demand-Metered Service 0.18503 0.19667 0. 20346 0.21265 0.21889 0.23721 0.24167 0.30162 0.31870 0.40470 Medium General Demand-Metered TOU**
Service

0.14761 0.15049 0.15893 0. 16176 0.16709 0.18735 0.18959 0.23972 0.24666 0.30896 Industrial
Service to Customers with equal to or
greater than Demand of 1,000 Kilowatts or
More - Secondary Voltage

0.15216 0.15969 0.16868 0. 17553 0.18279 0.19804 0.19537 0.23230 0.26114 0.34171 Service to Customers with equal to or
greater than Demand of 1,000 Kilowatts or
More - Primary Voltage

0.13908 0.14498 0.15229 0. 15874 0.16466 0.17774 0.17627 0.22023 0.23647 0.29029 Service to Customers with equal to or
greater than Demand of 1,000 Kilowatts or
More - Transmission Voltage

0.10608 0.10743 0.11719 0. 12501 0.12786 0.14240 0.13414 0.18171 0.19384 0.21379 General Fund City Departments# 0.05750 0.06750 0. 07250 0.07750 0.07377 0.07877 0.08877 0.09877 0.10877 0.15877 Streetlights 0.15045 0.15712 0. 15874 0.16451 0.17354 0.18693 0.18754 0.23439 0.25629 0.36491 Traffic Signals 0.15866 0.17187 0.18018 0.18432 0.18945 0.20194 0.19768 0.20413 0.25923 0.26563 Revenue Capacity
217 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

CleanPowerSF Electric Rate History
Fiscal Years Ended 2016 to 2024
_______________________________________________________________________________________________________

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 discontinued as of January 2021. Rate E-20P was not included due to lack of data to provide average rate. **N/A due to new rate classification for fiscal year 2022.

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 CleanPowerSF Management Report.

Rates per Kilowatt-hour 2015 2016 2017 2018 2019 2020 2021# 2022** 2023 2024 Residential
Green 0.09112 0.11766 0.13679
SuperGreen 0.10112 0.12766 0.14679
E-1 (Green) $ 0.07267 0.07267 0.06836 0.07163 0.08235 0.06918 N/A N/A N/A E-1 (SuperGreen) 0.09267 0.09267 0.08836 0.08663 0.09235 0.07918 N/A N/A N/A E-6 (Green) 0.06719 0.06693 0.05868 0.06612 0.08197 0.06935 N/A N/A N/A E-6 (SuperGreen) 0.08719 0.08693 0.07868 0.08112 0.09197 0.07935 N/A N/A N/A E-TOUA (Green) N/A 0.06801 0.06283 0.06548 0.07702 N/A 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 N/A E-TOUB (Green) N/A 0.06819 0.06285 0.06460 0.07598 0.06223 N/A N/A N/A E-TOUB (SuperGreen) N/A 0.08819 0.08285 0.07960 0.08598 0.07223 N/A N/A N/A E-TOUC* (Green) N/A N/A N/A 0.07010 0.07913 0.06449 N/A N/A N/A E-TOUC* (SuperGreen) N/A N/A N/A 0.08510 0.08913 0.07449 N/A N/A N/A EVA (Green) 0.05837 0.05822 0.05350 0.05358 0.06526 N/A N/A N/A N/A EVA (SuperGreen) 0.07837 0.07822 0.07350 0.06858 0.07526 N/A N/A N/A N/A EVB (Green) N/A 0.04747 0.04263 0.03889 0.04692 0.06154 N/A N/A N/A EVB (SuperGreen) N/A 0.06747 0.06263 0.05389 0.05692 0.07154 N/A N/A N/A Non-Residential
Small Commercial Green 0.08833 0.10927 0.12244
Small Commercial SuperGreen 0.09583 0.11427 0.12744
Medium Commerical Green 0.09415 0.11186 0.11911
Medium Commercial SuperGreen 0.09915 0.11686 0.12411
Large Commercial Green 0.08003 0.10192 0.11815
Large Commercial SuperGreen 0.08503 0.10692 0.12315
Industrial Green 0.07752 0.09596 0.09627
Industrial SuperGreen 0.08502 0.10096 0.10127
Streetlights Green 0.07434 0.10420 0.12559
Streetlights SuperGreen 0.08184 0.10920 0.13059
Outdoor Lighting Green 0.07999 0.10980 0.10980
Outdoor Lighting SuperGreen 0.08749 0.11480 0.11480
Agriculture Green 0.06277 0.08831 0.08416
Agriculture SuperGreen 0.07027 0.09331 0.08916
Commercial
A-1 (Green) 0.07772 0.07740 0.07447 0.07919 0.08011 0.06498 N/A N/A N/A A-1 (SuperGreen) 0.09772 0.09740 0.08847 0.08919 0.08761 0.07248 N/A N/A N/A A-1X (Green) 0.07770 0.07751 0.07509 0.07954 0.08184 0.06600 N/A N/A N/A A-1X (SuperGreen) 0.09770 0.09751 0.08909 0.08954 0.08934 0.07359 N/A N/A N/A A-6 (Green) 0.08883 0.08820 0.08631 0.09491 0.10079 0.09359 N/ A N/A N/A A-6 (SuperGreen) 0.10883 0.10820 0.10031 0.10491 0.10829 0.10109 N/A 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 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 N/A A-10SX (Time of Use - Green) 0.07899 0.07813 0.07579 0.08322 0.08185 0.06671 N/A 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 N/A E-19S (Green) 0.07925 0.07853 0.07658 0.08336 0.08010 0.06392 N/A N/A N/A E-19S (SuperGreen) 0.09925 0.09853 0.09058 0.08836 0.08510 0.06892 N/A N/A N/A E-19SV (Green) 0.07368 0.07304 0.07104 0.07670 0.07387 0.06150 N/A N/A N/A E-19SV (SuperGreen) 0.09368 0.09304 0.08504 0.08170 0.07887 0.06650 N/A N/A N/A E-20P (Green) 0.07005 0.06895 0.06729 0.07300 0.06958 N/A 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 N/A E-20S (Green) 0.07502 0.07395 0.07167 0.07774 0.07434 0.06282 N/A N/A N/A E-20S (SuperGreen) 0.09502 0.09395 0.08567 0.08774 0.08184 0.07032 N/A N/A N/A

**New rate classification starting fiscal year 2022
Data not available - CleanPowerSF launched in May 2016. **New rate classification starting fiscal year 2022
Revenue Capacity
218 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Water - Net Revenue and Debt Service Coverage
Fiscal Years Ended 2015 to 2024
(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 capitalized interest and federal interest subsidy the Commission is scheduled to receive during the 12-month period ending June 30 for any series of bonds. 4Net revenues beginning fiscal year 2016 include appropriated available funds. 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.

Source: San Francisco Public Utilities Commission Annual Disclosure Reports.

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Operating, other and investment revenue $ 431,836 423,111 464,662 532,087 558, 041 593,868 581,141 565,317 705,443 704,041 Less operating, other and maintenance expenses (296,950) (314,786) (421,827) (370,147) ( 357,094) (398,117) (448,690) (401,634) (438,837) (502,318) Adjustment to investing activities1 732 635 111 ( 1,245) (4,821) (516) 3,846 13,050 (2,015) (7,956) Depreciation and non-cash expenses 98,192 107,268 121,375 119,624 122, 248 148,294 150,257 151,114 164,817 157,335 Changes in working capital (37,175) (11,062) 63,520 31,060 ( 11,073) (20,763) 24,707 (42,906) (124,668) (22,917) Appropriated fund balance — 23,994 10,747 1,452 4, 318 17,181 27,785 21,977 67,949 9,800 Net revenue4 196,635 229,160 238, 588 312,831 311,619 339,947 339,046 306,918 372,689 337,985 Other available funds2 248,390 162,733 155, 852 186,752 221,362 241,931 128,692 103,506 194,075 217,600 Funds available for revenue debt service $ 445,025 391,893 394,440 499,583 532, 981 581,878 467,738 410,424 566,764 555,585 Revenue debt service3 $ 192,312 219,195 207,812 233,959 261, 638 269,210 248,427 279,352 307,062 306,369 Revenue debt service coverage (indenture basis) 2.31 1.79 1.90 2.14 2.04 2.16 1.88 1.47 1.85 1.81 #

Revenue Capacity
219 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Wastewater - Net Revenue and Debt Service Coverage
Fiscal Years Ended 2015 to 2024
(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.

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Operating, other and investment revenue $ 257,209 262,960 279,668 317,413 351, 782 356,265 325,008 360,756 365,667 419,959 Less operating, other and maintenance expenses (216,485) (221,553) (244,220) (238,906) ( 259,813) (262,259) (290,737) (255,010) (254,283) (452,231) Adjustment to investing activities1 127 (12) 251 ( 489) (8,047) 2,950 4,356 8,422 2,392 (7,527) Depreciation and non-cash expenses 51,773 56,285 57,998 60,072 68, 568 68,603 78,368 77,806 84,450 133,324 Changes in working capital 3,923 2,404 26,292 18,336 ( 2,125) 523 (8,596) (36,470) (19,376) 95,184 Net revenue3 96,547 100,084 119, 989 156,426 150,365 166,082 108,399 155,504 178,850 188,709 Other available funds2 134,413 139,847 131, 554 153,596 103,281 215,722 197,778 155,331 134,593 165,972 Funds available for revenue debt service $ 230,960 239,931 251,543 310,022 253, 646 381,804 306,177 310,835 313,443 354,681 Revenue debt service* $ 48,878 60,022 48,769 47,003 60, 347 62,797 82,066 86,619 98,811 91,601 Revenue debt service coverage (indenture basis) 4.73 4.00 5.16 6.60 4. 20 6.08 3.73 3.59 3.17 3.87 *
#

Revenue Capacity
220 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Hetchy Power - Net Revenue and Debt Service Coverage
Fiscal Years Ended 2015 to 2024
(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. Therefore, 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.

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Operating, other and investment revenue $ 117,704 122,954 122,187 122,251 152,873 151, 835 142,696 176,896 208,887 226,341 Less operating, other and maintenance expenses (105,222) (110,012) (116,935) (119,395) (122,688) ( 148,127) (139,566) (142,716) (181,769) (175,660) Adjustment to investing activities* (8) 11 29 419 (2,606) 101 1, 902 3,297 (15) (4,047) Depreciation and non-cash expenses 17,654 15,331 14,208 14,131 14,604 27, 470 23,037 18,351 20,714 16,530 Changes in working capital 7,037 (9,214) 11,740 13,281 (2,386) 3, 243 (18,641) (2,702) 3,785 (13,377) Low Carbon Fuel Standard revenue — — — — — 6, 920 1,181 1,184 593 684 Net revenue1 37,165 19,070 31,229 30, 687 39,797 41,442 10,609 54,310 52,195 50,471 Other available funds⌂ 14,031 13,974 32,199 36,525 31,215 39, 119 23,569 44,315 110,204 116,170 Funds available for revenue debt service $ 51,196 33,044 63,428 67,212 71,012 80, 561 34,178 98,625 162,399 166,641 Revenue debt service** $ N/A N/A N/A 2,570 2,569 2, 568 2,567 2,565 2,565 2,565 Revenue debt service coverage (indenture basis) N/A N/A N /A 26.15 27.64 31.37 13.31 38.45 63.31 64.97 #

221 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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

222 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024 Debt Capacity

Debt Ratings
As of June 30, 2024

Ratings by

Debt by Type
Moody’s
Ratings
S&P Global
Ratings

*COPs issued by City & County of San Francisco 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, 2024 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 2015 to 2024

Water
Revenue bonds Aa2 AA-
Commercial paper - $500 million tax-exempt/taxable
$200 million Sumitomo Mitsui Letter of Credit P- 1 A-1
$100 million Barclays PLC Letter of Credit P-1 A-1
$100 million Sumitomo Mitsui Letter of Credit P-1 A-1
$100 million US Bank Revolving Credit Agreement N/A N/A Certificates of participation - SFPUC Headquarters Project* Aa1 AA+ Wastewater
Revenue bonds Aa2 AA
Commercial paper - $750 million tax-exempt
$200 million State Street Liquidity Facility P- 1 A-1+
$150 million Bank of America Letter of Credit P-1 A-1
$150 million Sumitomo Mitsui Letter of Credit P-1 A-1
$100 million Sumitomo Mitsui Letter of Credit P-1 A-1
$75 million Toronto Dominion Bank Liquidity Facility P-1 A-1+ $75 million US Bank Revolving Credit Agreement N/A N/A
Certificates of participation - SFPUC Headquarters Project* Aa1 AA+ Hetchy Power
Revenue bonds** N/A AA
Commercial paper - $250 million tax-exempt
$125 million Bank of America Letter of Credit*** N/A A-1 $125 million Bank of America Letter of Credit*** N/A A-1 Certificates of participation - SFPUC Headquarters Project* Aa1 AA+

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Moody's Ratings
Water Aa3 Aa3 Aa3 Aa3 Aa3 Aa2 Aa2 Aa2 Aa2 Aa2
Wastewater Aa3 Aa3 Aa3 Aa3 Aa3 Aa2 Aa2 Aa2 Aa2 Aa2
CleanPowerSF A2 A2 A2 A2
S&P Global Ratings
Water AA- AA- AA- AA- AA- AA- AA- AA- AA- AA-
Wastewater AA- AA AA AA AA AA AA AA AA AA
Hetchy Power A+ A+ A+ A+ AA AA AA AA AA AA
Fitch Ratings
Hetchy Power AA- AA- AA- AA- AA- AA- AA- AA- AA- AA-

First rating from Moody's Ratings assigned in December, 2020. 223 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024 Debt Capacity

Water - Summary of Debt Outstanding (Excludes Commercial Paper) As of June 30, 2024
(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) $ 323,145 Water System Improvement Program 2010 Series E (Build America Bonds) 319,157 Water System Improvement Program 2010 Series G (Build America Bonds) 354,245 Water System Improvement Program 2015 Series A 295,453 Refunded remainder of 2006A Bonds and partial refunding of 2009A Bonds 2016 Series A 637,891 Refunded portion of 2009A, 2009B and 2010F Bonds 2016 Series B 47,886 Refunded remainder of 2006B and 2006C Bonds and portion of 2010A 2016 Series C 219,064 Refund all of outstanding taxable commercial paper notes. 2017 Series A 24,386 Water System Improvement Program
2017 Series B 29,748 Non Water System Improvement Program (Non-WSIP) 2017 Series C 14,232 Hetchy Water Improvements
2017 Series D 289,458 Refund 2011A and 2012A Bonds
2017 Series E 51,714 Refund 2011C, 2011D and 2012C1 Bonds 2017 Series F 7,991 Refund 2011B Bonds
2017 Series G 5,225 Refund 2011A Bonds
2019 Series A 393,080 Refunding Federal Taxable WSIP
2019 Series B 16,245 Refunding Federal Taxable Hetch Hetchy 2019 Series B 17,695 Refunding Federal Taxable Local Water Main 2020 Series A 188,685 Water System Improvement Program (Green Bonds) 2020 Series B 73,698 Regional Water
2020 Series C 99,408 Local Water
2020 Series D 52,041 Hetch Hetchy Water
2020 Series E 183,635 Refunding Federal Taxable WSIP
2020 Series F 134,025 Refunding Federal Taxable Non-WSIP 2020 Series G 64,660 Refunding Federal Taxable Local Water 2020 Series H 64,130 Refunding Federal Taxable Hetch Hetchy Water 2023 Series A 396,000 Refunding Commercial Paper and funding for capital projects 2023 Series B 73,128 Refunding Commercial Paper and funding Hetch Hetchy captial projects 2023 Series C 556,561 Refunding 2015A and portion of 2016A, 2017D and 2019A Bonds 2023 Series D 32,051 Refunding portion of 2020G.

Total revenue bonds 4,964,637
State of California revolving fund loans 259,970 SF Westsid Recycled Water project and Mountain Tunnel project 2009 Series D Certificates of participation (COPs) 89,232 525 Golden Gate Avenue Headquarters Building Total Water debt outstanding $ 5,313,839

224 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024 Debt Capacity

Wastewater - Summary of Debt Outstanding (Excludes Commercial Paper) As of June 30, 2024
(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) $ 177,730 Clean Water Capital Improvement Programs 2013 Series B 98,142 Sewer System Improvement Program (SSIP) 2016 Series A 261,779 Sewer System Improvement Program (SSIP) 2016 Series B 73,795 Sewer System Improvement Program (SSIP) 2018 Series A 237,170 Sewer System Improvement Program (SSIP) 2018 Series B 197,670 Sewer System Improvement Program (SSIP) 2021 Series A 320,576 Sewer System Improvement Program (SSIP) 2021 Series B 47,940 Sewer System Improvement Program (SSIP) 2022 Series B 149,927 Refunding 2013 Series AB bonds
2023 Series A 621,337 Sewer System Improvement Program (SSIP) 2023 Series B 320,776 Capital Projects Non-SSIP
2023 Series C 178,209 Sewer System Improvement Program (SSIP) Total revenue bonds/notes 2,685,051
State of California revolving fund loans 317,662 Sewer System Improvement Program 922,431 WIFIA Loans
2009 Series D Certificates of participation (COPs) 23,595 525 Golden Gate Avenue Headquarters Building Total Wastewater debt outstanding $ 3,948,739

Water Infrastructure Finance and Innovation Act
(WIFIA) Loans

Debt Capacity
225 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Hetchy Power - Summary of Debt Outstanding (Excludes Commercial Paper) As of June 30, 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

Amount shown above are inclusive of unamortized bond premium.

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) $ 34,819 Hetch Hetchy facilities
2015 Series B 2,033 Hetch Hetchy facilities
2021 Series A (Green) 88,375 Refinance portion costs of Hetchy Power projects 2021 Series B 59,142 Refinance portion costs of Hetchy Power projects 2023 Series A 131,066 Refinance portion costs of Hetchy Power projects Total revenue bonds 315,435
Other Bonds
Qualified Energy Conservation Bonds (QECBs) 2,021 525 Golden Gate Avenue green energy 2015 New Clean Renewable Energy Bonds (NCREBs) 1,343 City facilities renewable energy Tot
al other bonds 3,364
2009 Series D Certificates of participation (COPs) 12,148 525 Golden Gate Avenue Headquarters Building Total Hetchy Power debt outstanding $ 330,947

226 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Debt Capacity
History of Outstanding Debt by Type - Principal Only (Excludes Commercial Paper) Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)
_______________________________________________________________________________________________________

(Continue)

Department-wide
Bonds
2015 $ 5,106,187 $ — $ 5,471 $ — $ —
2016 5,389,447 — 5,860 — —
2017 5,657,792 — 6,278 — —
2018 5,983,428 — 6,725 22,607 —
2019 6,513,703 — 2,029 88,032 —
2020 6,366,836 — — 161,820 —
2021 6,631,009 — — 215,966 —
2022 6,986,674 350,356 — 424,420 —
2023 7,638,688 349,556 — 482,316 122,357
2024 7,968,487 — — 577,632 922,431
State Revolving
Fund Loans
Water
Infrastructure
Finance and
Innovation Act
(WIFIA) Loans
Fiscal Year
Ended
Revenue
Notes*
Capital
Appreciation
Bonds*
Department-wide
Leases@ Subcriptions@
Total
2015 $ 160,615 $ — $ — $ 5,272,273
2016 157,207 — — 5,552,514
2017 153,673 — — 5,817,743
2018 150,008 — — 6,162,768
2019 146,207 — — 6,749,971
2020 142,265 — — 6,670,921
2021 138,180 10,945 — 6,996,100
2022 133,945 6,870 3,132 7,905,397
2023 129,550 5,614 1,423 8,729,504
2024 124,975 3,093 617 9,597,235
Certificates of
Participation^
Fiscal Year
Ended
Water
Leases@
2015 $ 4,298,827 $ — $ 5,471 $ 114,680 $ —
2016 4,257,454 — 5,860 112,246 —
2017 4,554,967 — 6, 278 109,722 —
2018 4,909,041 — 6,725 107,106 —
2019 4,808,548 — 2,029 104,392 —
2020 4,695,295 73,271 — 101,578 —
2021 4,994,775 107,407 — 98,662 4,244
2022 4,860,935 121,761 — 95,637 2,863
2023 4,710,846 163,627 — 92,499 4,010
2024 4,964,637 259,970 — 89,232 2,821
Fiscal Year
Ended
Revenue
Bonds^
State
Revolving
Fund Loans
Capital
Appreciation
Bonds*
Certificates of
Participation^
**
Water
Subcriptions@
Total
2015 $ — $ 4,418,978 2,635,893 $ 1.68 174,111 $ 25.38 2016 — 4,375,560 2,657,633 1.65 174,083 25.13 2017 — 4,670,967 2,680,705 1.74 174,349 26.79 2018 — 5,022,872 2,705,107 1.86 175,054 28.69 2019 — 4,914,969 2,710,848 1.81 175,803 27.96 2020 — 4,870,144 2,723,429 1.79 176,379 27.61 2021 — 5,205,088 2,654,874 1.96 176,246 29.53 2022 1,556 5,082,752 2,663,063 1.91 177,072 28.70 2023 708 4,971,690 2,679,577 1.86 177,613 27.99 2024 308 5,316,968 2,690,857 1.98 178,961 29.71 Debt per
Customer
Account
(in thousands)
Fiscal Year
Ended
Service Area by
Population#
Debt per Capita
(in thousands)
Number of
Customer
Accounts
**
227 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Source: San Francisco Public Utilities Commission, Power Enterprise: Audited Financial Statements, Office of the Controller, City and County of San Francisco and BAWSCA.org.

Wastewater
Leases@ Subcriptions@
Total
2015 $ — $ — $ 777,508 862,004 $ 0.90 163,686 $ 4.75 2016 — — 1,101,563 876,103 1.26 163,587 6.73 2017 — — 1,073,938 879,166 1.22 163,738 6.56 2018 — — 1,070,074 880,696 1.22 163,976 6.53 2019 — — 1,768,244 881,549 2.01 173,956 10.16 2020 — — 1,737,141 870,518 2.00 174,516 9.95 2021 5,952 — 1,730,520 811,935 2.13 174,356 9.93 2022 3,638 944 2,614,138 807,774 3.24 175,171 14.92 2023 1,297 429 3,553,696 808,988 4.45 175,680 20.23 2024 — 186 3,948,925 804,842 4.91 177,098 22.30 Number of
Customer
Accounts
Debt per
Customer
Account
(in thousands)
Fiscal Year
Ended
Service Area by
Population#
Debt per Capita
(in thousands)
**
2015 $ 747,185 $ — $ — $ — $ 30,323
2016 1,
071,883 — — — 29,680
2017 1,044,925 — — — 29,013
2018 1,019,146 — 22,607 — 28,321
2019 1,652,609 — 88,032 — 27,603
2020 1,621,733 — 88,549 — 26,859
2021 1,589,922 — 108,559 — 26,087
2022 1,931,253 350,356 302,659 — 25,288
2023 2,736,910 349,556 318,689 122,357 24,458
2024 2,685,051 — 317,662 922,431 23,595
Water
Infrastructure
Finance and
Innovation Act
(W
IFIA) Loans
Fiscal Year
Ended
Revenue
Bonds^
Revenue
Notes*
State Revolving
Fund Loans
Certificates of
Participation^
Wastewater
**
Hetchy Power
Bonds^ Leases@ Subcriptions@ Total
2015 $ 60,175 $ 15,612 $ — $ — $ 75,787
2016 60,110 15,281 — — 75,391
2017 57,900 14,938 — — 72,838
2018 55,241 14,581 — — 69,822
2019 52,546 14,212 — — 66,758
2020 49,808 13,828 — — 63,636
2021 46,312 13,431 94 — 59,837
2022 194,486 13,020 75 253 207,834
2023 190,932 12,593 169 116 203,810
2024 318,799 12,148 150 51 331,148
Fiscal Year
Ended
Certificates of
Participation^
Hetchy Power
2015 2,305 $ 32.88
2016 2,627 28.70
2017 3,068 23.
74 2018 3,547 19.68
2019 3,747 17.82
2020 4,077 15.61
2021 5,385 11.11
2022 5,110 40.67
2023 6,238 32.67
2024 7,043 47.02
Fiscal Year
Ended
Number of
Customer
Accounts
Debt per
Customer
Account
(in thousands)
**2024 population was estimated by multiplying 2023 population by the 2021 and 2022 population growth rate.
@2021 to 2023 updated to include right-to-use leases and in Department-wide, $78, $62, $138, and $122 for Hetchy Water, and $577, $232, $0, $0 for CleanPowerSF. 2022 to 2023 updated to include right-to-use subscription leases and in Department-wide, $309, $139, and $59 for Hetchy Water and $70, $31, and $13 for CleanPowerSF.
#2020 to 2023 updated from last year's ACFR with newly available data.
^Bonds, Notes, and Certificates of Participation are inclusive of bond

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

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

Source: San Francisco Public Utilities Commission Official Statements.

228 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024 Total Total Total Tota l
Payments Principal & Principal & Principal & Principal & Due for Total Total Interest Total Total Interest Total Total Interest Total Total Interest FY Ended Principal Interest Paym ents Principal Interest Payments Principal Interest Payments Principal Interest Payments 2025 $ 141,542 197,796 339,338 41,899 112,158 154,057 4,062 13,491 17,553 187,503 323,445 510,948 2026 157,517 193,252 350,769 45,108 114,477 159,585 4,231 13,323 17,554 206,856 321,052 527,908 2027 162,907 186,472 349,379 80,529 117,706 198,235 5,474 13,123 18,597 248,910 317,301 566,211 2028 167,583 179,316 346,899 87,634 113,967 201,601 5,729 12,868 18,597 260,946 306,151 567,097 2029 186,001 172,579 358,580 115,461 109,359 224,820 6,005 12,590 18,595 307,467 294,528 601,995 2030 196,964 164,066 361,030 120,892 103,922 224,814 6,300 12,293 18,593 324,156 280,281 604,437 2031 203,125 155,700 358,825 126,603 98,209 224,812 6,607 11,988 18,595 336,335 265,897 602,232 2032 212,993 147,521 360,514 119,624 95,104 214,728 6,924 11,667 18,591 339,541 254,292 593,833 2033 213,849 138,674 352,523 112,283 92,360 204,643 7,252 11,337 18,589 333,384 242,371 575,755 2034 224,506 129,184 353,690 117,532 87,104 204,636 7,588 11,005 18,593 349,626 227,293 576,919 2035 234,551 119,318 353,869 123,046 81,591 204,637 7,942 10,647 18,589 365,539 211,556 577,095 2036 246,985 109,201 356,186 128,778 75,860 204,638 8,311 10,279 18,590 384,074 195,340 579,414 2037 262,458 98,634 361,092 103,381 70,671 174,052 8,693 9,894 18,587 374,532 179,199 553,731 2038 244,780 88,316 333,096 107,964 66,087 174,051 9,096 9,488 18,584 361,840 163,891 525,731 2039 250,253 78,642 328,895 112,697 61,351 174,048 9,520 9,063 18,583 372,470 149,056 521,526 2040 259,858 68,782 328,640 117,584 56,464 174,048 9,960 8,623 18,583 387,402 133,869 521,271 2041 218,738 59,662 278,400 122,607 51,436 174,043 10,426 8,155 18,581 351,771 119,253 471,024 2042 174,321 52,381 226,702 117,116 46,501 163,617 10,912 7,670 18,582 302,349 106,552 408,901 2043 131,840 46,748 178,588 120,334 41,647 161,981 10,435 7,183 17,618 262,609 95,578 358,187 2044 136,817 41,757 178,574 111,430 37,260 148,690 10,925 6,691 17,616 259,172 85,708 344,880 2045 104,526 37,098 141,624 115,624 33,382 149,006 11,440 6,181 17,621 231,590 76,661 308,251 2046 109,340 32,750 142,090 119,883 29,392 149,275 11,975 5,644 17,619 241,198 67,786 308,984 2047 114,380 28,196 142,576 124,394 25,229 149,623 12,525 5,094 17,619 251,299 58,519 309,818 2048 119,671 23,415 143,086 124,349 21,403 145,752 13,085 4,533 17,618 257,105 49,351 306,456 2049 127,284 18,190 145,474 126,573 17,812 144,385 13,675 3,946 17,621 267,532 39,948 307,480 2050 133,516 12,515 146,031 103,923 14,764 118,687 14,285 3,333 17,618 251,724 30,612 282,336 2051 140,070 6,555 146,625 105,460 12,262 117,722 14,930 2,690 17,620 260,460 21,507 281,967 2052 36,829 2,734 39,563 108,727 9,699 118,426 15,600 2,020 17,620 161,156 14,453 175,609 2053 38,395 1,168 39,563 71,368 7,889 79,257 16,350 1,268 17,618 126,113 10,325 136,438 2054 9,757 317 10,074 73,207 6,857 80,064 17,190 430 17,620 100,154 7,604 107,758 2055 9,854 219 10,073 70,763 5,801 76,564 — — — 80,617 6,020 86,637 2056 3,979 121 4,100 72,552 4,770 77,322 — — — 76,531 4,891 81,422 2057 4,018 81 4,099 69,271 3,710 72,981 — — — 73,289 3,791 77,080 2058 4,060 41 4,101 71,159 2,696 73,855 — — — 75,219 2,737 77,956 2059 — — — 73,117 1,654 74,771 — — — 73,117 1,654 74,771 2060 — — — 23,034 772 23,806 — — — 23,034 772 23,806
2061 — — — 23,460 432 23,892 — — — 23,460 432 23,892
2062 — — — 23,922 87 24,009 — — — 23,922 87 24,009
Total $ 4,983,267 2,591,399 7,574,666 3,633,288 1,831,846 5,465,134 297,447 246,517 543,964 8,914,002 4,669,762 13,583,764

Water Wastewater Power SFPUC Total
Debt Capacity
Water - Future Principal and Interest Payments
(Excludes Commercial Paper)
(Dollars in Thousands)
229 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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 2025 $ — 3,402 13,725 13,610 — 29, 485 24,800 13,720
2026 4,432 3,545 14,225 14,080 — 30,990 26,050 7,715
2027 4,477 3,695 14,765 14,585 — 20,945 38,150 8,015
2028 4,521 3,852 15,355 15,125 — 20,530 46,305 3,815
2029 7,608 4,013 15,965 15,715 — 9,155 48,655 3,990
2030 7,684 4,180 16,600 16,340 — 10,585 51,135 4,180
2031 7,761 4,359 17,260 16,990 — 15,420 53,460 4,370
2032 7,838 4,545 17,945 17,665 11,060 22,370 15,945 —
2033 7,917 4,737 18,660 18,365 11,575 19,390 26,770 —
2034 7,995 4,941 19,405 19,095 12,110 21,525 23,830 —
2035 8,076 5,155 20,175 19,855 12,665 28,610 19,905 —
2036 8,157 5,373 20,980 20,645 13,255 29,765 12,830 —
2037 8,238 5,605 21,810 21,470 13,865 15,365 43,670 —
2038 8,321 5,844 22,680 22,320 14,505 — 45,455 —
2039 8,404 6,094 23,580 23,210 15,175 — 47,305 —
2040 8,488 6,355 24,520 24,130 15,880 — 49,235 —
2041 8,573 6,625 25,495 25,090 16,610 — — —
2042 8,659 6,912 — — 17,380 — — —
2043 8,745 — — — 18,180 — — —
2044 8,832 — — — 19,025 — — —
2045 8,921 — — — 19,900 — — —
2046 9,010 — — — 20,820 — — —
2047 9,100 — — — 21,785 — — —
2048 9,191 — — — 22,790 — — —
2049 9,284 — — — 23,845 — — —
2050 9,376 — — — 24,945 — — —
2051 9,470 — — — 26,100 — — —
2052 9,564 — — — — — — —
2053 9,660 — — — — — — —
2054 9,757 — — — — — — —
2055 9,854 — — — — — — —
2056 3,979 — — — — — — —
2057 4,018 — — — — — — —
2058 4,060 — — — — — — —
Total $ 259,970 89,232 323,145 318,290 351,470 274,135 573,500 45,805

Debt Capacity
Water - Future Principal and Interest Payments
(Excludes Commercial Paper)
(Dollars in Thousands)
230 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Principal Payments

(Continued)
May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments
Due for
FY Ended 2016C 2017A 2017B 2017C 2017D 2017E 2017F 2017G 2025 $ 6,275
2,570 3,135 1,500 10,230 835 770 5,225
2026 6,455 2,705 3,295 1,575 20,515 7,425 875 —
2027 6,645 2,840 3,465 1,660 21,540 7,830 920 —
2028 6,850 2,990 3,645 1,745 22,615 6,630 965 —
2029 7,075 3,140 3,830 1,830 23,740 7,080 1,020 —
2030 7,310 3,300 4,025 1,925 24,935 8,555 855 —
2031 7,565 — — — 26,140 7,960 905 —
2032 7,835 — — — 9,895 1,015 960 —
2033 8,120 — — — 31,835 — — —
2034 8,435 — — — 18,250 — — —
2035 8,760 — — — 39,510 — — —
2036 9,110 — — — 8,090 — — —
2037 9,475 4,685 5,715 2,735 — — — —
2038 9,860 — — — — — — —
2039 10,265 — — — — — — —
2040 10,685 — — — — — — —
2041 11,125 — — — — — — —
2042 11,585 — — — — — — —
2043 12,070 — — — — — — —
2044 12,590 — — — — — — —
2045 13,125 — — — — — — —
2046 13,685 — — — — — — —
2047 14,270 — — — — — — —
2048 — — — — — — — —
2049 — — — — — — — —
2050 — — — — — — — —
2051 — — — — — — — —
2052 — — — — — — — —
2053 — — — — — — — —
2054 — — — — — — — —
2055 — — — — — — — —
2056 — — — — — — — —
2057 — — — — — — — —
2058 — — — — — — — —
Total $ 219,170 22,230 27,110 12,970 257,295 47,330 7,270 5,225

Debt Capacity
Water - Future Principal and Interest Payments
(Excludes Commercial Paper)
(Dollars in Thousands)
231 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Principal Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments
Due for
FY Ended 2019A 2019B 2019C 2020A 2020B 2020C 2020D 2020E 2025 $ 2,700 75 80 — — — — 915
2026 2,760 75 80 — — — — 940
2027 2,820 80 85 — — — — 965
2028 1,865 80 90 — — — — 995
2029 1,310 85 90 — — — — 1,025
2030 2,980 85 95 — — — — 1,055
2031 3,060 90 95 — — — — 4,515
2032 29,910 90 100 — — — — 4,645
2033 2,835 1,340 1,465 — — — — 4,780
2034 2,925 1,385 1,510 — — — — 4,920
2035 2,885 1,425 1,550 — — — — 5,055
2036 31,780 1,470 1,600 — — — — 5,200
2037 40,100 1,525 1,660 — — — — 720
2038 42,825 1,575 1,720 — — — — 5,610
2039 19,140 1,630 1,775 — — — — 24,155
2040 19,710 1,690 1,835 — — — — 24,850
2041 36,785 1,745 1,900 — — — — 25,565
2042 38,045 1,800 1,965 — — — — 26,295
2043 53,380 — — — — — — 6,405
2044 55,265 — — — — — — 6,600
2045 — — — 10,730 4,300 5,950 3,425 6,795
2046 — — — 11,445 4,590 6,340 3,660 7,000
2047 — — — 12,195 4,895 6,760 3,895 7,205
2048 — — — 19,525 7,840 10,825 6,240 7,425
2049 — — — 30,970 12,520 17,360 10,015 —
2050 — — — 32,160 13,240 18,550 10,700 —
2051 — — — 33,870 13,945 19,550 11,265 —
2052 — — — — — — — —
2053 — — — — — — — —
2054 — — — — — — — —
2055 — — — — — — — —
2056 — — — — — — — —
2057 — — — — — — — —
2058 — — — — — — — —
Total $ 393,080 16,245 17,695 $ 150,895 61,330 85,335 49,200 183,635

Debt Capacity
Water - Future Principal and Interest Payments
(Excludes Commercial Paper)
(Dollars in Thousands)
232 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Principal Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments Total
Due for Principal
FY Ended 2020F 2020G 2020H 2023A 2023B 2023C 2023D Paym ents 2025 $ 1,440 6,360 690 — — — — 141,542
2026 1,450 7,635 695 — — — — 157,517
2027 1,465 5,485 700 — — — 1,775 162,907
2028 1,485 6,550 710 — — — 865 167,583
2029 1,505 1,815 720 7,150 1,320 12,425 5,740 186,001
2030 1,530 4,610 735 7,515 1,390 12,100 3,260 196,964
2031 5,720 5,485 2,740 7,900 1,460 7,225 2,645 203,125
2032 5,830 12,170 2,790 8,310 1,535 25,000 5,540 212,993 2033 5,955 2,380 2,850 8,735 1,615 27,385 7,140 213,849 2034 6,090 — 2,915 9,180 1,695 57,660 640 224,506
2035 6,235 1,140 2,985 9,650 1,780 39,135 — 234,551
2036 6,385 325 3,055 10,145 1,875 56,570 375 246,985
2037 910 1,200 435 10,665 1,970 50,640 — 262,458
2038 6,875 1,235 3,290 11,215 2,070 39,380 — 244,780
2039 7,075 1,275 3,385 11,790 2,175 43,820 — 250,253
2040 7,280 1,315 3,480 12,395 2,290 45,720 — 259,858
2041 7,490 1,355 3,585 13,030 2,405 31,360 — 218,738
2042 7,700 1,395 3,685 13,700 2,530 32,670 — 174,321
2043 7,940 1,440 3,800 14,400 2,660 2,820 — 131,840
2044 8,195 1,490 3,920 15,140 2,795 2,965 — 136,817
2045 8,455 — 4,045 15,935 2,945 — — 104,526
2046 8,725 — 4,170 16,795 3,100 — — 109,340
2047 9,000 — 4,305 17,700 3,270 — — 114,380
2048 9,290 — 4,445 18,655 3,445 — — 119,671
2049 — — — 19,660 3,630 — — 127,284
2050 — — — 20,720 3,825 — — 133,516
2051 — — — 21,840 4,030 — — 140,070
2052 — — — 23,015 4,250 — — 36,829
2053 — — — 24,255 4,480 — — 38,395
2054 — — — — — — — 9,757
2055 — — — — — — — 9,854
2056 — — — — — — — 3,979
2057 — — — — — — — 4,018
2058 — — — — — — — 4,060
Total $ 134,025 64,660 64,130 349,495 64,540 486,875 27,980 4,983,267

Debt Capacity
Water - Future Principal and Interest Payments
(Excludes Commercial Paper)
(Dollars in Thousands)
233 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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 2025 $ — 5,652 18,872 18,418 24,427 12,073 25,663 1,569 2026 1,542 5,431 18,102 17,692 24,427 10,571 24,393 1,209 2027 1,497 5,201 17,269 16,917 24,427 9,273 22,788 894
2028 1,453 4,961 16,365 16,084 24,427 8,236 20,676 639
2029 2,465 4,710 15,426 15,182 24,427 7,494 18,301 464
2030 2,389 4,450 14,449 14,220 24,427 7,000 15,808 279
2031 2,312 4,176 13,433 13,219 24,427 6,386 13,460 87
2032 2,235 3,887 12,376 12,180 24,042 5,476 11,992 —
2033 2,156 3,585 11,278 11,099 23,255 4,432 10,924 —
2034 2,077 3,271 10,136 9,976 22,433 3,517 9,659 —
2035 1,997 2,944 8,951 8,809 21,572 2,514 8,566 —
2036 1,917 2,602 7,715 7,593 20,672 1,355 7,747 —
2037 1,835 2,247 6,430 6,329 19,729 384 6,553 —
2038 1,753 1,875 5,096 5,015 18,743 — 4,771 —
2039 1,669 1,489 3,708 3,650 17,712 — 2,916 —
2040 1,585 1,084 2,265 2,229 16,633 — 985 —
2041 1,501 664 765 753 15,504 — — —
2042 1,415 224 — — 14,323 — — —
2043 1,328 — — — 13,087 — — —
2044 1,241 — — — 11,793 — — —
2045 1,152 — — — 10,441 — — —
2046 1,063 — — — 9,027 — — —
2047 973 — — — 7,546 — — —
2048 882 — — — 5,997 — — —
2049 791 — — — 4,377 — — —
2050 697 — — — 2,682 — — —
2051 604 — — — 907 — — —
2052 509 — — — — — — —
2053 413 — — — — — — —
2054 317 — — — — — — —
2055 219 — — — — — — —
2056 121 — — — — — — —
2057 81 — — — — — — —
2058 41 — — — — — — —
Total $ 42,230 58,453 182,636 179,365 451,464 78,711 205,202 5,141

Debt Capacity
Water - Future Principal and Interest Payments
(Excludes Commercial Paper)
(Dollars in Thousands)
234 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Interest Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments
Due for
FY Ended 2016C 2017A 2017B 2017C 2017D 2017E 2017F 2017G 2025 $ 8,297 1,047 1,278 611 12,504 2,296 344 76
2026 8,117 915 1,116 535 11,736 2,090 303 —
2027 7,925 777 947 453 10,684 1,709 258 —
2028 7,719 631 770 368 9,580 1,347 211 —
2029 7,497 478 583 279 8,422 1,004 161 —
2030 7,260 318 386 185 7,206 613 116 —
2031 7,007 234 285 136 5,969 220 71 —
2032 6,738 234 286 137 5,119 21 24 —
2033 6,448 234 286 137 4,088 — — —
2034 6,137 234 286 137 2,836 — — —
2035 5,809 234 286 137 1,391 — — —
2036 5,463 234 286 137 202 — — —
2037 5,098 118 142 67 — — — —
2038 4,712 — — — — — — —
2039 4,306 — — — — — — —
2040 3,883 — — — — — — —
2041 3,443 — — — — — — —
2042 2,985 — — — — — — —
2043 2,499 — — — — — — —
2044 1,983 — — — — — — —
2045 1,445 — — — — — — —
2046 884 — — — — — — —
2047 298 — — — — — — —
2048 — — — — — — — —
2049 — — — — — — — —
2050 — — — — — — — —
2051 — — — — — — — —
2052 — — — — — — — —
2053 — — — — — — — —
2054 — — — — — — — —
2055 — — — — — — — —
2056 — — — — — — — —
2057 — — — — — — — —
2058 — — — — — — — —
Total $ 115,953 5,688 6,937 3,319 79,737 9,300 1,488 76

Debt Capacity
Water - Future Principal and Interest Payments
(Excludes Commercial Paper)
(Dollars in Thousands)
235 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Interest Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments
Due for
FY Ended 2019A 2019B 2019C 2020A 2020B 2020C 2020D 2020E 2020F 2025 $ 12,943 553 603 7,295 3,066 3,414 1,477 5,224 3,586 2026 12,884 551 600 7,295 3,066 3,413 1,476 5,198 3,575 2027 12,819 548 598 7,295 3,067 3,413 1,476 5,171 3,559 2028 12,763 546 595 7,295 3,066 3,414 1,476 5,144 3,541 2029 12,723 543 592 7,295 3,066 3,414 1,476 5,115 3,519 2030 12,668 541 589 7,295 3,066 3,414 1,476 5,086 3,494 2031 12,588 538 586 7,295 3,066 3,414 1,476 5,007 3,429 2032 12,127 535 583 7,295 3,066 3,414 1,476 4,878 3,320 2033 11,666 513 558 7,295 3,066 3,414 1,476 4,745 3,197 2034 11,580 470 511 7,295 3,066 3,414 1,476 4,608 3,062 2035 11,489 425 463 7,295 3,067 3,413 1,476 4,467 2,918 2036 10,919 377 411 7,295 3,067 3,413 1,476 4,322 2,764 2037 9,732 324 353 7,295 3,067 3,413 1,476 4,238 2,672
2038 8,363 270 294 7,295 3,067 3,413 1,476 4,149 2,561
2039 7,339 213 232 7,295 3,067 3,413 1,476 3,727 2,363
2040 6,698 155 168 7,295 3,067 3,413 1,476 3,036 2,159
2041 5,733 94 103 7,295 3,067 3,413 1,476 2,324 1,949
2042 4,434 32 35 7,295 3,067 3,413 1,476 1,592 1,733
2043 2,846 — — 7,294 3,067 3,413 1,476 1,126 1,498
2044 960 — — 7,294 3,066 3,413 1,475 934 1,244
2045 — — — 7,026 2,959 3,294 1,425 738 983
2046 — — — 6,471 2,737 3,049 1,318 534 712
2047 — — — 5,892 2,500 2,787 1,205 324 434
2048 — — — 5,131 2,181 2,435 1,053 109 146
2049 — — — 3,917 1,672 1,871 809 — —
2050 — — — 2,400 1,027 1,153 498 — —
2051 — — — 814 349 391 169 — —
2052 — — — — — — — — —
2053 — — — — — — — — —
2054 — — — — — — — — —
2055 — — — — — — — — —
2056 — — — — — — — — —
2057 — — — — — — — — —
2058 — — — — — — — — —
Total $ 193,274 7,228 7,874 177,549 74,755 83,248 35,997 81,796 58,418

Debt Capacity
Water - Future Principal and Interest Payments
(Excludes Commercial Paper)
(Dollars in Thousands)
236 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Interest Payments

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Total Total
Paym
ents Federal Interest Principal &
Due for Interest Paym ents Interest
FY Ended 2020G 2020H 2023A 2023B 2023C 2023D Subs idy Net of Subsidy Payments 2025 $ 1,105 1,715 17,921 3,309 23,294 1,399 (22,235) 197,796 339,338 2026 1,050 1,710 17,921 3,309 23,294 1,399 (21,668) 193,252 350,769 2027 986 1,703 17,921 3,309 23,294 1,355 (21,061) 186,472 349,379 2028 911 1,694 17,921 3,309 23,294 1,289 (20,409) 179,316 346,899 2029 853 1,684 17,742 3,276 22,983 1,124 (19,719) 172,579 358,580 2030 798 1,672 17,376 3,209 22,370 899 (18,993) 164,066 361,030 2031 710 1,641 16,990 3,137 21,887 751 (18,237) 155,700 358,825 2032 540 1,589 16,585 3,063 21,081 546 (17,324) 147,521 360,514 2033 393 1,530 16,159 2,984 19,772 229 (16,245) 138,674 352,523 2034 367 1,465 15,711 2,901 17,646 35 (15,122) 129,184 353,690 2035 353 1,396 15,240 2,814 15,226 19 (13,953) 119,318 353,869 2036 335 1,322 14,746 2,723 12,833 9 (12,734) 109,201 356,186 2037 313 1,278 14,225 2,627 10,153 — (11,464) 98,634 361,092 2038 275 1,225 13,678 2,526 7,902 — (10,143) 88,316 333,096 2039 236 1,130 13,104 2,420 5,941 — (8,764) 78,642 328,895 2040 196 1,033 12,499 2,308 3,946 — (7,331) 68,782 328,640 2041 155 932 11,863 2,191 2,274 — (5,837) 59,662 278,400 2042 112 829 11,195 2,067 955 — (4,801) 52,381 226,702
2043 68 717 10,492 1,937 219 — (4,319) 46,748 178,588
2044 23 595 9,754 1,801 74 — (3,893) 41,757 178,574
2045 — 470 8,957 1,654 — — (3,446) 37,098 141,624
2046 — 341 8,098 1,495 — — (2,979) 32,750 142,090
2047 — 207 7,192 1,328 — — (2,490) 28,196 142,576
2048 — 70 6,238 1,152 — — (1,979) 23,415 143,086
2049 — — 5,232 966 — — (1,445) 18,190 145,474
2050 — — 4,172 770 — — (885) 12,515 146,031
2051 — — 3,055 564 — — (299) 6,555 146,625
2052 — — 1,878 347 — — — 2,734 39,563
2053 — — 637 118 — — — 1,168 39,563
2054 — — — — — — — 317 10,074
2055 — — — — — — — 219 10,073
2056 — — — — — — — 121 4,100
2057 — — — — — — — 81 4,099
2058 — — — — — — — 41 4,101
Total $ 9,779 27,948 344,502 63,614 278,438 9,054 (287,775) 2,591,399 7,574,666

Debt Capacity
237 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Wastewater - Future Principal and Interest Payments
(Excludes 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 Ended Fund Loans Loans 2009D 2010B 2013B 2016A 2016B 2018A 2025 $ 5,629 — 900 7,745 — 5,760 1,625 6,580
2026 5,711 — 937 8,000 — 6,055 1,705 6,915
2027 9,257 — 977 8,270 — 6,365 1,795 7,270
2028 9,390 — 1,019 8,560 — 6,690 1,885 7,645
2029 9,525 — 1,061 8,860 — 7,035 1,980 8,035
2030 9,662 — 1,105 9,180 — 7,395 2,085 8,445
2031 9,801 — 1,152 9,520 — 7,775 2,190 8,880
2032 9,942 — 1,202 9,875 — 8,170 2,305 9,335
2033 10,085 — 1,253 10,250 — 8,590 2,420 9,815
2034 10,230 — 1,307 10,640 — 9,030 2,545 10,315
2035 10,378 — 1,363 11,045 — 9,495 2,675 10,845
2036 10,528 — 1,420 11,470 — 9,980 2,815 11,400
2037 10,679 — 1,482 11,910 — 10,495 2,960 11,985
2038 10,834 — 1,545 12,365 — 10,975 3,095 12,600
2039 10,990 — 1,612 12,845 — 11,425 3,220 13,245
2040 11,149 — 1,680 13,340 — 11,890 3,350 13,880
2041 11,310 — 1,752 13,855 20,390 12,375 3,490 14,510
2042 11,473 — 1,828 — 35,625 12,880 3,630 15,170
2043 11,639 — — — 37,080 13,405 3,780 15,860
2044 11,808 26,482 — — — 13,955 3,935 11,445
2045 11,979 27,185 — — — 14,520 4,095 —
2046 12,152 27,851 — — — 15,115 4,260 —
2047 12,328 28,611 — — — 15,730 4,435 —
2048 12,507 45,792 — — — — — —
2049 10,664 47,119 — — — — — —
2050 10,811 57,132 — — — — — —
2051 9,246 58,714 — — — — — —
2052 9,102 60,545 — — — — — —
2053 9,220 62,148 — — — — — —
2054 9,341 63,866 — — — — — —
2055 5,110 65,653 — — — — — —
2056 5,182 67,370 — — — — — —
2057 — 69,271 — — — — — —
2058 — 71,159 — — — — — —
2059 — 73,117 — — — — — —
2060 — 23,034 — — — — — —
2061 — 23,460 — — — — — —
2062 — 23,922 — — — — — —
Total $ 317,662 $ 922,431 23,595 177,730 93,095 235,105 66,275 214,175 Debt Capacity
Wastewater - Future Principal and Interest Payments
(Excludes Commercial Paper)
(Dollars in Thousands)
238 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Principal Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Payments Total
Due for Principal
FY Ended 2018B 2021A 2021B 2022B 2023A 2023B 2023C Payments 2025 $ 5,335 — — 8,325 — — — 41,899
2026 5,610 — — 10,175 — — — 45,108
2027 5,900 — — 10,695 22,000 8,000 — 80,529
2028 6,200 — — 11,245 25,500 9,500 — 87,634
2029 6,520 — — 11,825 44,250 16,370 — 115,461
2030 6,855 — — 12,425 46,650 17,090 — 120,892
2031 7,205 — — 13,065 49,045 17,970 — 126,603
2032 7,575 — — 13,735 41,760 15,725 — 119,624
2033 7,960 — — 14,440 34,740 12,730 — 112,283
2034 8,375 — — 15,185 36,255 13,650 — 117,532
2035 8,800 — — 15,965 38,405 14,075 — 123,046
2036 9,255 — — — 41,560 30,350 — 128,778
2037 9,730 — — — 20,820 23,320 — 103,381
2038 10,225 — — — 21,895 24,430 — 107,964
2039 10,750 — — — 23,035 25,575 — 112,697
2040 11,275 — — — 24,230 26,790 — 117,584
2041 11,790 — — — 24,070 9,065 — 122,607
2042 12,325 — — — 17,695 6,490 — 117,116
2043 12,890 — — — 18,655 7,025 — 120,334
2044 9,305 23,905 3,340 — — — 7,255 111,430
2045 — 25,130 3,515 — — — 29,200 115,624
2046 — 26,420 3,695 — — — 30,390 119,883
2047 — 27,775 3,885 — — — 31,630 124,394
2048 — 29,050 4,080 — — — 32,920 124,349
2049 — 30,235 4,290 — — — 34,265 126,573
2050 — 31,470 4,510 — — — — 103,923
2051 — 32,755 4,745 — — — — 105,460
2052 — 34,095 4,985 — — — — 108,727
2053 — — — — — — — 71,368
2054 — — — — — — — 73,207
2055 — — — — — — — 70,763
2056 — — — — — — — 72,552
2057 — — — — — — — 69,271
2058 — — — — — — — 71,159
2059 — — — — — — — 73,117
2060 — — — — — — — 23,034
2061 — — — — — — — 23,460
2062 — — — — — — — 23,922
Total $ 173,880 260,835 37,045 137, 080 530,565 278,155 165,660 3,633,288 239 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024 Debt Capacity
Wastewater - Future Principal and Interest Payments
(Excludes 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 2013B 2016A 2016B 2018A 2018B 2025 $ 2,727 — 1,494 9,801 3,724 10,228 2,883 9,836 8,560 2026 2,645 4,115 1,436 9,409 3,724 9,963 2,809 9,498 8,287 2027 4,354 8,229 1,375 8,992 3,724 9,683 2,729 9,144 7,999 2028 4,221 8,229 1,312 8,550 3,724 9,356 2,637 8,771 7,697 2029 4,086 8,229 1,246 8,084 3,724 9,013 2,541 8,379 7,379 2030 3,949 8,229 1,177 7,592 3,724 8,652 2,439 7,967 7,044 2031 3,810 8,229 1,104 7,073 3,724 8,273 2,333 7,533 6,692 2032 3,669 10,802 1,027 6,523 3,724 7,875 2,220 7,078 6,323 2033 3,526 13,375 948 5,945 3,724 7,455 2,101 6,599 5,935 2034 3,379 13,375 865 5,344 3,724 7,015 1,977 6,096 5,527 2035 3,233 13,375 778 4,720 3,724 6,552 1,847 5,567 5,097 2036 3,083 13,375 689 4,073 3,724 6,066 1,710 5,011 4,646 2037 2,931 13,375 594 3,397 3,723 5,553 1,565 4,426 4,172 2038 2,777 13,375 496 2,690 3,723 5,071 1,430 3,813 3,673 2039 2,621 13,376 393 1,957 3,723 4,623 1,303 3,166 3,149 2040 2,462 13,375 287 1,194 3,723 4,157 1,172 2,557 2,598 2041 2,301 13,375 175 402 3,316 3,672 1,035 1,989 2,021 2042 2,137 13,375 59 — 2,196 3,167 893 1,396 1,417
2043 1,971 13,375 — — 742 2,641 745 775 787
2044 1,804 13,193 — — — 2,094 590 228 233
2045 1,632 12,804 — — — 1,524 430 — —
2046 1,459 12,406 — — — 932 265 — —
2047 1,282 11,998 — — — 314 89 — —
2048 1,104 11,519 — — — — — — —
2049 922 10,849 — — — — — — —
2050 775 10,086 — — — — — — —
2051 625 9,250 — — — — — — —
2052 504 8,389 — — — — — — —
2053 386 7,503 — — — — — — —
2054 265 6,593 — — — — — — —
2055 144 5,657 — — — — — — —
2056 73 4,697 — — — — — — —
2057 — 3,710 — — — — — — —
2058 — 2,696 — — — — — — —
2059 — 1,654 — — — — — — —
2060 — 772 — — — — — — —
2061 — 432 — — — — — — —
2062 — 87 — — — — — — —
Total $ 70,857 337,483 15,455 95,746 65,834 133,879 37,743 109,829 99,236

*
240 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024 Debt Capacity
Wastewater - Future Principal and Interest Payments
(Excludes 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 2021A 2021B 2022B 2023A 2023B 2023C Subsidy Net of Subsidy Payments 2025 $ 11,466 1,851 6,646 26,635 13,408 6,627 (3,728) 112,158 154,057 2026 11, 466 1,852 6,183 26,635 13,408 6,626 (3,579) 114,477 159,585 2027 11,466 1,853 5,662 26,085 13,207 6,626 (3,422) 117,706 198,235 2028 11,466 1,852 5,113 24,898 12,769 6,627 (3,255) 113,967 201,601 2029 11,466 1,852 4,536 23,154 12,123 6,626 (3,079) 109,359 224,820 2030 11,466 1,853 3,930 20,881 11,287 6,626 (2,894) 103,922 224,814 2031 11,466 1,852 3,293 18,489 10,411 6,626 (2,699) 98,209 224,812 2032 11,466 1,853 2,623 16,219 9,568 6,626 (2,492) 95,104 214,728 2033 11,466 1,853 1,919 14,306 8,857 6,626 (2,275) 92,360 204,643 2034 11,466 1,853 1,178 12,531 8,197 6,626 (2,049) 87,104 204,636 2035 11,466 1,853 399 10,665 7,504 6,626 (1,815) 81,591 204,637 2036 11,466 1,853 — 8,666 6,444 6,626 (1,572) 75,860 204,638 2037 11,465 1,853 — 7,106 5,202 6,626 (1,317) 70,671 174,052 2038 11,466 1,852 — 6,038 4,108 6,626 (1,051) 66,087 174,051 2039 11,465 1,852 — 4,915 2,958 6,626 (776) 61,351 174,048 2040 11,466 1,852 — 3,734 1,749 6,626 (488) 56,464 174,048 2041 11,465 1,852 — 2,496 902 6,626 (191) 51,436 174,043 2042 11,466 1,852 — 1,422 514 6,627 (20) 46,501 163,617 2043 11,465 1,853 — 490 176 6,627 — 41,647 161,981
2044 10,868 1,769 — — — 6,481 — 37,260 148,690
2045 9,642 1,597 — — — 5,753 — 33,382 149,006
2046 8,353 1,416 — — — 4,561 — 29,392 149,275
2047 6,999 1,227 — — — 3,320 — 25,229 149,623
2048 5,723 1,028 — — — 2,029 — 21,403 145,752
2049 4,538 818 — — — 685 — 17,812 144,385
2050 3,303 600 — — — — — 14,764 118,687
2051 2,018 369 — — — — — 12,262 117,722
2052 681 125 — — — — — 9,699 118,426
2053 — — — — — — — 7,889 79,257
2054 — — — — — — — 6,857 80,064
2055 — — — — — — — 5,801 76,564
2056 — — — — — — — 4,770 77,322
2057 — — — — — — — 3,710 72,981
2058 — — — — — — — 2,696 73,855
2059 — — — — — — — 1,654 74,771
2060 — — — — — — — 772 23,806
2061 — — — — — — — 432 23,892
2062 — — — — — — — 87 24,009
Total $ 269,975 44,145 41,482 255,365 142,792 148,727 (36,702) 1,831, 846 5,465,134

Debt Capacity
Power - Future Principal and Interest Payments
(Excludes Commercial Paper)
(Dollars in Thousands)
241 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Principal Payments

(Continued)

May not total due to rounding.

Source: San Francisco Public Utilities Commission Official Statements.

Qualified New Clean
Payments COPs Energy Ren ewable Total
Due for Series Conservation Ene rgy Principal
FY Ended 2009D Bonds 2011 2015A 2015B Bo nds 2015 2021A 2021B 2023A Payments 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 1,075 5,474
2028 524 294 1,020 — 156 1,605 685 1,445 5,729
2029 546 — 1,075 — 159 1,690 715 1,820 6,005
2030 569 — 1,125 — 161 1,775 750 1,920 6,300
2031 594 — 1,185 — 163 1,860 790 2,015 6,607
2032 619 — 1,240 — 165 1,945 825 2,130 6,924
2033 644 — 1,305 — 83 2,035 860 2,325 7,252
2034 673 — 1,370 — — 2,115 905 2,525 7,588
2035 702 — 1,435 — — 2,200 950 2,655 7,942
2036 731 — 1,510 — — 2,290 995 2,785 8,311
2037 763 — 1,585 — — 2,385 1,045 2,915 8,693
2038 796 — 1,665 — — 2,480 1,090 3,065 9,096
2039 830 — 1,745 — — 2,585 1,140 3,220 9,520
2040 865 — 1,835 — — 2,690 1,185 3,385 9,960
2041 901 — 1,925 — — 2,800 1,240 3,560 10,426
2042 942 — 2,020 — — 2,915 1,290 3,745 10,912
2043 — — 2,125 — — 3,030 1,345 3,935 10,435
2044 — — 2,230 — — 3,155 1,405 4,135 10,925
2045 — — 2,340 — — 3,285 1,465 4,350 11,440
2046 — — 2,460 — — 3,420 1,525 4,570 11,975
2047 — — — — — 3,560 4,160 4,805 12,525
2048 — — — — — 3,705 4,330 5,050 13,085
2049 — — — — — 3,855 4,505 5,315 13,675
2050 — — — — — 4,010 4,695 5,580 14,285
2051 — — — — — 4,175 4,885 5,870 14,930
2052 — — — — — 4,345 5,085 6,170 15,600
2053 — — — — — — — 16,350 16,350
2054 — — — — — — — 17,190 17,190
Total $ 12,148 2,021 32,025 2,005 1,343 74,280 49,720 123,905 297,447

Debt Capacity
Power - Future Principal and Interest Payments
(Excludes Commercial Paper)
(Dollars in Thousands)
242 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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 2023A Subsidy Net of Subsidy Payments 2025 $ 769 89 1,593 62 60 3,050 2,030 6,195 (357) 13,491 17,553 2026 739 62 1,593 25 53 2,979 2,000 6,195 (323) 13,323 17,554 2027 709 35 1,576 3 47 2,905 1,969 6,168 (289) 13,123 18,597 2028 675 7 1,534 — 39 2,826 1,935 6,105 (253) 12,868 18,597 2029 641 — 1,482 — 32 2,744 1,900 6,024 (233) 12,590 18,595 2030 606 — 1,427 — 25 2,657 1,864 5,930 (216) 12,293 18,593 2031 568 — 1,369 — 17 2,576 1,825 5,832 (199) 11,988 18,595 2032 530 — 1,308 — 9 2,490 1,784 5,728 (182) 11,667 18,591 2033 487 — 1,245 — 2 2,401 1,747 5,617 (162) 11,337 18,589 2034 446 — 1,179 — — 2,318 1,712 5,496 (146) 11,005 18,593 2035 400 — 1,108 — — 2,231 1,674 5,366 (132) 10,647 18,589 2036 354 — 1,034 — — 2,142 1,636 5,230 (117) 10,279 18,590 2037 307 — 957 — — 2,048 1,595 5,088 (101) 9,894 18,587 2038 255 — 876 — — 1,951 1,552 4,938 (84) 9,488 18,584
2039 203 — 790 — — 1,849 1,507 4,781 (67) 9,063 18,583
2040 149 — 701 — — 1,745 1,461 4,616 (49) 8,623 18,583
2041 90 — 607 — — 1,634 1,412 4,442 (30) 8,155 18,581
2042 30 — 508 — — 1,520 1,362 4,260 (10) 7,670 18,582
2043 — — 405 — — 1,401 1,309 4,068 — 7,183 17,618
2044 — — 295 — — 1,277 1,254 3,865 — 6,691 17,616
2045 — — 181 — — 1,149 1,197 3,654 — 6,181 17,621
2046 — — 62 — — 1,014 1,137 3,431 — 5,644 17,619
2047 — — — — — 875 1,023 3,196 — 5,094 17,619
2048 — — — — — 730 853 2,950 — 4,533 17,618
2049 — — — — — 578 677 2,691 — 3,946 17,621
2050 — — — — — 421 493 2,419 — 3,333 17,618
2051 — — — — — 257 301 2,132 — 2,690 17,620
2052 — — — — — 87 102 1,831 — 2,020 17,620
2053 — — — — — — — 1,268 — 1,268 17,618
2054 — — — — — — — 430 — 430 17,620
Total $ 7,958 193 21,830 90 284 49,855 39,311 129,946 (2,950) 246,517 543,964

243 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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
244 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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 economy growth is growing in a steady pace. The City 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. 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.

San Francisco median homes prices peaked in 2021 with over $1.8 million . The median price is estimated to remained constant at approximately $1.6 million at the end of 2024. Personal income per capita for 2024 is $167,542 and a typical home cost approximately 9 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 804,842 as of fiscal year 202 4. The table reflects the population and per capita personal income of the City, as estimated based on the U.S. Census Bureau.

12024 population was estimated by multiplying the estimated 2023 population by the 2021 to 2022 population growth rate. Fiscal year s 2020 to 2023 data were updated from last year ’s ACFR with newly available data.

2Per capita personal income for 202 4 was estimated by dividing the estimated personal income for 2023 by the reported population in 2023 .

Fiscal years 2020 to 2023 data were updated from last year ’s ACFR with newly available data. FY202 4 was estimated by multiplying the latest quarterly State income by 1,000 and dividing by the estimated 2023 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 64.2 %, an increase of 3.2% from 2022 and hotel rooms occupied during Moscone conventions totaled 618,298, an 82.6% increase from 2022. 2023 was a strong convention year with D reamforce and the Asia Pacific Economic Cooperation Leaders’ Submit. San Francisco International Airport served over 50 million passengers in 202 3, an increase of 18.7% from 2022 and new and returning flying routes are added. It is forecast for 2024, leisure travel to continue to steady recovery and is forecast to reach 23. 7 million and expected visitors spending to reach $9.45 billion.

San Francisco Employment
According to the data from California Employment Development Department, the City’s unemployment rate increased by 0 .3% in 2024. This increase is slightly lower than the State of California rate increase of 0.4% in 2024.

CITY AND COUNTY OF SAN FRANCISCO
Population and Income - Fiscal Years 2020-2024

Fiscal Year

Population¹
Per Capita
Personal Income2
2020 870,518 $141,052
2021 811,935 159,834
2022 807,774 155,947
2023 808,988 162,292
2024 804,842 167,542

245 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Tables below summarizes information on the civilian labor, employment, and unemployment in the City; and employment by industry from calendar years 2019 to 2023.

1Labor force data reflects the March 2023 benchmark.
2Data not seasonally adjusted.

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

1Data reflects the March 2023 benchmark and 2022 is updated with newly available data.

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

Year Area Labor Force Employment Unemployment
June 2024 San Francisco 550,100 530,300 19,900 3.6%
State 19,293,300 18,265,300 1,028,000 5.3%
June 2023 San Francisco 576,700 557,900 18,800 3.3%
State 19,308,700 18,364,000 944,700 4.9%

CITY AND COUNTY OF SAN FRANCISCO
Civilian Labor Force, Employment, and Unemployment 1
June 2023 and 20242
Unemployment
Rate
2019 2020 2021 2022 2023
Total Farm 400 200 300 300 200
T
otal Nonfarm 762,500 696,300 698, 700 754,200 743,500
Professional & Business Services 203,100 200,900 200, 600 217,700 203,800 Leisure & Hospitality 101,800 59, 100 57,000 75,600 82,000 Government 98,800 98,200 101,300 106,500 108,500
Educational & Health Services 94,100 91,500 93,900 96,500 99,600 Trade, Transportation & Utilities 84,300 73,200 70,100 70,600 66,400 Financial Activities 62,000 60,300 61,000 61,700 59,200 Information 52,500 54,600 58,200 67,500 63,900
Manufacturing & Construction 37,900 36, 600 33,800 34,800 35,900 Other Services 28,400 22, 100 23,100 24,300 24,400
Total All Industries 762,900 696,500 699,000 755,200 743,700

CITY AND COUNTY OF SAN FRANCISCO
Estimated Average Annual Employment by Sector - Calendar Years 2019-20231 246 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

The table below list 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
United Airlines Airline Carrier
University of California, San Francisco Health Sciences University and Medical Center 5,000 - 9,999 Employees
San Francisco Unified School District (SFUSD) Public Education Sutter Health Health Care System
Wells Fargo Bank Financial Services
1,000 - 4,999 Employees
Accenture Professional Services and Technology Consulting Adobe Inc. Digital media and marketing
Allied Universal Security Systems, Guarding Services
Autodesk Inc. Security Systems, Guarding Services
Bank of America Financial Services
Cisco Systems Inc. Technology, Networking, Security and Digital DoorDash Inc. On-demand logistics platform for local commerce First Republic Bank Financial Services
iRhythm Technologies Inc. Medical Technology
Kaiser Permanente Health Care System
Lyft Inc. Ride-Sharing Service
Uber Technologies Inc. Ride-Sharing Service
Source: Calendar year 2022 San Francisco Business Times and City and County of San Francisco.

San Francisco T axable Sales
The following table provides information on taxable sales for the City for calendar years 2019 through 2023. Total retail sales increased in 2023 by approximately $3.1 billion compared to 2020.

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. 2019 2020 2021 2022 2023 Building Material/Garden Equipment/Supplies $ 718,692 642,104 685,895 691,182 636,795 Clothing and Clothing Accessories Stores 2,029,312 1,163,031 1,587,968 1,746,756 1,576,178 Food and Beverage Stores 861,757 746,455 722,410 768,429 794,715 Food Services and Drinking Places 5,046,263 2,081,728 2,953,373 4,266,095 4,537,493 Gasoline Stations 548,509 304,977 432,768 612,261 553,559 General Merchandise Stores 755,350 560,059 667,930 691,405 628,274 Home Furnishings and Appliance Stores 1,034,213 768,022 919,239 940,945 790,701 Motor Vehicle and Parts Dealers 601,929 593,476 625,719 575,323 590,487 Other Retail Stores2 2,671,219 2,690,590 2,508,494 2,633,438 2,500,262 Retails Stores Total $ 14,267,244 9,550,442 11,103,796 12,925,834 12,608,464 All Other Outlets not listed above 6,689,891 4,839,281 5,503,318 6,685,572 6,493,613 Total All Outlets $ 20,957,135 14,389,723 16,607,114 19,611,406 19,102,077

CITY AND COUNTY OF SAN FRANCISCO
Taxable Sales - Calendar Years 2019-20231
($ in Thousands)
247 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Demographic and Economic Information
San Francisco Population and Income
Fiscal Years Ended 2015 to 2024

Personal Income Per Capita
Year Population 1 (In Thousands) 2 Personal income 3

1Data from US Census Bureau. Fiscal year s 2020 to 2023 were updated from last year's Annual Comprehensive Financial Report (ACFR) with newly available data.
2Data from US Bureau of Economic Analysis. Fiscal years 2021 to 2023 were updated from last year's ACFR with newly available data. 3Data from US Bureau of Economic Analysis. Fiscal years 2020 to 2023 were updated from last year's ACFR with newly available data. 42024 population was calculated by multiplying the estimated 2023 population by the 2021 to 2022 population growth rate. 5Personal income was estimated by assuming that its percentage of state personal income in fiscal years 2023 remained at the 2022 level of

4.19 percent.
6Per capita personal income for 2024 was estimated by dividing the estimated personal income for 2023 by the reported population in 2023 . 2024 was estimated by multiplying the latest quarterly State income by 1,000 and dividing by the estimated 2023 population.

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

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 870,518 122,788,484 141,052
2021 811,935 129,774,521 159,834
2022 807,774 125,970,097 155,947
2023 808,988 131,292,367 162,292
2024 804,842 4 134,844,875 5 167,542 6

Demographic & Economic Information
248 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

San Francisco City and County Principal Employers

1Calendar year 2023 data is not available, so the latest data is from calendar year 2022. City and County of San Francisco data provided by Office of Controller's Payroll and Personnel Services Division. The San Francisco Unified School District data is from the "Facts At A Glance 2022- 2023" within the SFUSD Website. 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 2014 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 35,643 1 6.6 % 25,458 1 4.2 % University of California, San Francisco 29,475 2 5.4 20,100 2 3. 3 Salesforce 11,953 3 2.2 — — —
United Airlines 10,000 4 2.1 — — —
San Francisco Unified School District 8,842 5 1.6 8,189 4 1. 3 Sutter Health 6,134 6 1.1 — — —
Wells Fargo Bank 5,886 7 1.1 8,200 3 1. 3
Kaiser Permanente 4,676 8 0.9 3,492 10 0. 6
Allied Universal 3,827 9 0.7 — — —
Uber Technologies Inc. 3,413 10 0.6 — — —
California Pacific Medical Center — — — 5,934 6 1. 0
Gap, Inc. — — — 6,000 5 1. 0
Pacific Gas & Electric Corporation — — — 4,394 7 0. 7
San Francisco State University — — — 3,707 9 0. 6
State of California — — — 4,108 8 0. 7
Total 119,849 22. 3 % 89,582 14.7 % Total City Employment3 538,142 608,600

20221 20132
Demographic & Economic Information
249 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Summary of Water and Sewer Accounts by Type of Customer Fiscal Years Ended 2015 to 2024

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. *Increase in residential and commercial accounts in fiscal year 2024, mainly due to additional stormwater accounts.

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

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Water Account Types
Retail - San Francisco
Multi-Family Residential 41,279 41,369 41,594 42,101 42,482 42,849 43,360 43,693 44,020 44,280 Single-Family Residential 110,140 110,050 110,118 110,153 110,413 110,584 110,113 110,485 110,659 111,445 Commercial 20,384 20,320 20,344 20,429 20,512 20,509 20,306 20,399 20,423 20,690 Industrial 81 81 80 80 81 77 75 72 69 71 Municipal 1,849 1,885 1,882 1,915 1,939 1,985 2,019 2,049 2,067 2,100 Subtotal 173,733 173,705 174,018 174,678 175,427 176,004 175,873 176,698 177,238 178,586 Retail - Other
Commercial 85 85 83 86 87 87 86 87 86 87 Municipal 1 1 1 1 1 1 1 1 1 1 Other 3 3 3 3 2 2 2 2 2 2 Residential 211 211 211 208 208 207 206 206 208 207 Subtotal 300 300 298 298 298 297 295 296 297 297 Wholesale
Private utilities 22 22 22 22 22 22 22 22 22 22 Public utilities 56 56 56 56 56 56 56 56 56 56 Subtotal 78 78 78 78 78 78 78 78 78 78 Total water accounts 174,111 174,083 174,394 175,054 175,803 176,379 176,246 177,072 177,613 178,961 Sewer Account Types
Retail & Resale*
Multi-Family Residential 36,313 36,293 36,323 36,326 36,387 36,467 36,528 36,595 36,603 36,660 Single-Family Residential 111,173 111,137 111,268 111,385 111,681 111,869 111,398 111,786 111,995 112,795 Commercial2 15,460 15,411 15,388 15,494 24,465 24,721 24,941 25,278 25,564 26,002 Municipal2 731 738 751 763 1,109 1,150 1,182 1,208 1,218 1,233 Suburban (Watershed Keepers) 9 8 8 8 8 7 7 7 6 4 Unmetered Properties1 306 302 300 297 294 404 Total sewer accounts 163,686 163,587 163,738 163,976 173,956 174,516 174,356 175,171 175,680 177,098 No data prior to fiscal year 2019

Demographic & Economic Information
250 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Summary of Hetchy Water, Hetchy Power and CleanPowerSF Accounts by Type of Customer Fiscal Years Ended 2015 to 2024

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 s 2021 to 2022 is due to corrections to the customer type during the new billing system transition. New accounts from affordable housing units contributed to the increase from fiscal years 2022 to 2024.

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 U
pcountry Water Sales 7 6 5 5 5 5 5 5 5 5

Hetchy Power
Electric Meters 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 City Agencies 1,480 1,494 1,491 1,511 1,499 1,512 1,489 1,522 1,546 1,564 Non-City Agencies* 783 1,090 1,536 1,996 2,209 2,526 3,858 3,551 4,654 5,439 Moccasin/City of Riverbank 40 41 39 38 37 37 36 35 36 38 Modesto/Turlock Irrigation Districts 2 2 2 2 2 2 2 2 2 2 Total accounts** 2,305 2,627 3,068 3,547 3,747 4,077 5,385 5,110 6,238 7,043 Gas and Steam Meters
Nature Gas 352 359 351 355 352 352 352 355 356 356 Steam 12 12 12 12 12 12 12 12 12 10 Total accounts 364 371 363 367 364 364 364 367 368 366 CleanPowerSF
Account 2015 2016 2017 2018 2019 2020 2021 2022* 2023 2024 Residential 364 69,492 74,160 343,807 ^ 351,219 ^ 352,835 356,443 365,800 354,294 Commercial
Small Commercial Service 6,256 6,169 6,422 27,750 27,368 27,044 26,569 26,961 26,099 Medium Commercial Service 541 504 688 2,428 2,381 2,272 2,124 2,050 1,845 Large Commercial Service 299 314 336 1,812 1,887 1,859 1,819 2,016 2,080 Agricultural — 3 7 25 25 25 27 22 35 Street and Outdoor Lighting — — — 306 299 297 297 305 311 Commercial Subtotal 7,096 6,990 7,453 32,321 31,960 31,497 30,836 31,354 30,370 Total accounts 7,460 76,482 81,613 376,128 383,179 384,332 387,279 397,154 384,664 Data not available -
CleanPowerSF
launched in May 2016.

Demographic & Economic Information
251 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Water Accounts and Billings
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)

*Hundred cubic feet = 748 gallons
**Millions of gallons
'^Due to various billing cycles, fiscal year 2023 sales for wholesale customers were updated to reflect their accurate consumption.

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

Fiscal
Year
Number of
Consumer
Accounts
Water
Consumed
(CCF)*
Water
Consumed
(MG)**
Service
Charges
Billed ($)
Water
Charges
Billed ($)
Total
Amount
Billed ($)
2015 174,111 92,624,944 69,285 33,561 336,182 369,743 2016 174,083 82,783,466 61,922 37,125 375,020 412,145 2017 176,379 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 66,006 53,820 537,588 591,408 2023 177,613 82,862,373 61,982 54,062 553,100 607,162 2024 178,961 85,367,087 63,853 55,140 576,389 631,529

Demographic & Economic Information
252 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Historical Water Sales in Hundred Cubic Feet
Fiscal Years Ended 2015 to 2024

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 s 2011 to 2012 and under Suburban Retail from fiscal years 2013 to 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. 5Due to various billing cycles, fiscal year 2023 sales for wholesale customers were updated to reflect their accurate consumption.

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

2024
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 % of Total Retail Customers
Multi-Family Residential 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 10,608,337 12.4% Single-Family Residential 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 5,989,644 7.0% Commercial 1 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 5,982,433 7.0% Industrial 100,995 94,178 92,846 86,555 84,142 73,296 43,251 47,821 46,458 40,247 0.0% Municipal 3,4,6 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 1,337,141 1.6% Suburban Retail 3 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 1,414,370 1.7% Retail water sales 30,174,810 28,575,700 28,792,080 29,775,758 29,016,056 29,021,324 26,143,731 25,592,881 25,383,369 25,372,172 29.7% Wholesale Customers
California Water Service 2 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 12,658,135 14.9% Hayward Municipal Water5 6,634,616 5,979,616 6,281,522 7,101,954 6,821,848 6,929,989 7,098,350 6,854,523 6,301,398 6,430,378 7.5% Alameda County Water District5 3,885,891 2,924,129 3,039,722 3,875,669 3,745,166 3,788,287 4,638,801 4,575,609 4,721,709 4,865,627 5.7% City of Sunnyvale 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 4,646,165 5.4% City of Palo Alto 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 4,366,041 5.1% City of Redwood City 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 3,748,266 4.4% City of Mountain View 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 3,600,443 4.2% City of Milpitas 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 2,590,051 3.0% City of San Jose 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 1,909,985 2.2% Estero Municipal Improvement District 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 1,820,120 2.1% All Other Wholesale Customers 2,5 14,965,959 13,323,145 13,466,407 14,425,326 14,635,791 15,123,615 15,349,943 14,354,008 12,871,329 13,359,704 15.8% Wholesale water sales 62,450,134 54,207,766 56,377,174 62,913,562 60,981,337 64,473,803 65,850,836 62,650,610 57,479,004 59,994,915 70.3% Total water sales 92,624,944 82,783,466 85,169,254 92,689,320 89,997,393 93,495,127 91,994,567 88,243,491 82,862,373 85,367,087 100.0% % Change from prior year 1.0% -10.6% 2.9% 8.8% -2.9% 3.9% -1.6% -4.1% -6.1% 3.0% Number of accounts 174,111 174, 083 174,394 175,054 175,803 176,379 176,246 177,072 177,613 178,961 Retail 174,033 174, 005 174,316 174,976 175,725 176,301 176,168 176,994 177,535 178,883 Wholesale 78 78 78 78 78 78 78 78 78 78

Demographic & Economic Information
253 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Historical Water Sales in Millions of Gallons per Day
Fiscal Years Ended 2015 to 2024

18.2 17.3 17.0 17.5 16.7 15.1 10.6 11.8 12.4 12.2 7.0%
Industrial 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.0% Municipal 3,4,6

2.8 2.6 3.1 3.2 3.3 3.4 2.8 2.8 2.5 2.7 1.6%
Suburban Retail 3

3.8 3.2 2.9 3.1 2.9 3.0 2.8 2.7 2.7 2.9 1.7%
Retail water sales 61.9 58.4 59.1 61.0 59.5 59.4 53.6 52.4 52.0 51.8 29.7% Wholesale Customers*
California Water Service 2

29.1 23.4 24.3 27.5 26.3 29.0 29.6 29.0 26.4 25.9 14.9% Hayward Municipal Water5

13.6 12.2 12.9 14.6 14.0 14.2 14.5 14.0 12.9 13.1 7.5%
Alameda County Water District5

8.0 6.0 6.2 7.9 7.7 7.7 9.5 9.4 9.7 9.9 5.7%
City of Sunnyvale 7.8 7.8 8.1 9.5 8.8 9.4 9.7 8.9 8.1 9.5 5.4% City of Palo Alto 9.6 8.2 9.0 10.0 9.4 9.7 9.8 9.6 8.6 8.9 5.1% City of Redwood City 8.0 7.1 7.7 8.4 8.1 8.8 8.6 7.9 7.2 7.7 4.4% City of Mountain View 7.6 6.7 6.9 7.5 7.3 7 .6 7.9 7.4 6.7 7.4 4.2% City of Milpitas 5.2 4.5 4.8 5.2 5.1 6.1 5.4 4.8 4.5 5.3 3.0% City of San Jose 4.5 4.1 4.1 4.5 4.3 4.2 4.2 4.1 3.8 3.9 2.2% Estero Municipal Improvement District 4.0 3.6 3.8 4.2 4.0 4.3 4.3 3.9 3.5 3.7 2.1% All Other Wholesale Customers 2,5

30.7 27.3 27.6 29.6 30.0 31.0 31.5 29.5 26.4 27.3 15.8% Wholesale water sales 128.1 110.9 115.4 128.9 125.0 132.0 135.0 128.5 117.8 122.6 70.3% Total water sales 190.0 169.3 174.5 189.9 184.5 191.4 188.6 180.9 169.8 174.4 100.0% % Change from prior year 1.0% -10.6% 2.9% 8.8% -2.9% 3.9% -1.6% -4.1% -6.1% 3.0% Number of accounts 174,111 174,083 174,394 175,054 175,803 176,379 176, 246 177,072 177,613 178,961 Retail 174,033 174,005 174,316 174,976 175,725 176,301 176,168 176,994 177,535 178,883 Wholesale 78 78 78 78 78 78 78 78 78 78
Demographic & Economic Information
254 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Historical Water Sales in Millions of Gallons
Fiscal Years Ended 2015 to 2024

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 s 2011 to 2012 and under Suburban Retail from fiscal years 2013 to 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. 5Due to various billing cycles, fiscal year 2023 sales for wholesale customers were updated to reflect their accurate consumption.

Source: Rate Schedules, Summary of Annual Water Sales reports, San Francisco Public Utilities Commission Customer Care and Billing System. 2024
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 % of Total Retail Customers
Multi-Family Residential 8,171 7,862 8,026 8,294 8,229 8,510 8,296 7,968 7,946 7,935 12.4% Single-Family Residential 5,278 4,993 5,061 5,202 5,061 5,274 5,312 4,797 4,552 4,480 7.0% Commercial 1 6,643 6,348 6,198 6,387 6,093 5,529 3,854 4,310 4,537 4,475 7.0% Industrial 76 70 69 65 63 55 32 36 35 30 0.0% Municipal 3,4,6 1,011 937 1,136 1,184 1,191 1,236 1,038 1,038 916 1,000 1.6% Suburban Retail 3 1,392 1,164 1,045 1,140 1,067 1,103 1,023 995 1,001 1,058 1.7% Retail water sales 22,571 21,374 21,535 22,272 21,704 21,707 19,555 19,144 18,987 18,978 29.7% Wholesale Customers*
California Water Service 2 10,605 8,559 8,866 10,052 9,592 10,591 10,788 10,594 9,616 9,468 14.9% Hayward Municipal Water5 4,963 4,473 4,699 5,312 5,103 5,184 5,310 5,127 4,713 4,810 7.5% Alameda County Water District5 2,907 2,187 2,274 2,899 2,801 2,834 3,470 3,423 3,532 3,639 5.7% City of Sunnyvale 2,844 2,855 2,967 3,452 3,203 3,443 3,549 3,243 2,954 3,475 5.4% City of Palo Alto 3,494 2,997 3,278 3,635 3,442 3,558 3,579 3,522 3,149 3,266 5.1% City of Redwood City 2,924 2,607 2,816 3,074 2,951 3,194 3,127 2,889 2,634 2,804 4.4% City of Mountain View 2,779 2,457 2,524 2,753 2,657 2,773 2,886 2,693 2,460 2,693 4.2% City of Milpitas 1,912 1,645 1,766 1,904 1,873 2,211 1,958 1,745 1,641 1,937 3.0% City of San Jose 1,638 1,489 1,509 1,644 1,574 1,545 1,536 1,477 1,385 1,429 2.2% Estero Municipal Improvement District 1,453 1,313 1,399 1,544 1,471 1,582 1,572 1,412 1,283 1,361 2.1% All Other Wholesale Customers 2,5 11,195 9,966 10,073 10,790 10,948 11,312 11,482 10,737 9,628 9,993 15.8% Wholesale water sales 46,714 40,548 42,171 47,059 45,615 48,227 49,257 46,862 42,995 44,875 70.3% Total water sales 69,285 61,922 63,706 69,331 67,319 69,934 68,812 66,006 61,982 63,853 100.0% % Change from prior year 1.0% -10.6% 2.9% 8.8% -2.9% 3.9% -1.6% -4.1% -6.1% 3.0% Number of accounts 174,111 174,083 176,379 175,054 175,803 176,379 176,246 177,072 177,613 178,961 Retail 174,033 174,005 176,301 174,976 175,725 176,301 176,168 176,994 177,535 178,883 Wholesale 78 78 78 78 78 78 78 78 78 78
Wholesale Water Customers
255 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

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
256 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Water Accounts & Billings by Type of Customer
Fiscal Years Ended 2015 to 2024
(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. 4Due to various billing cycles, fiscal year 2023 sales for wholesale customers were updated to reflect their accurate billings.

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

Customer Type 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Multiple-Family Residential
Number of accounts 41,279 41,369 41,594 42,101 42,482 42,849 43,360 43,693 44,020 44,280 Billings $ 68,517 74,055 83,180 91,994 97,879 109,461 115,888 121,922 125,529 125,973 Single-Family Residential
Number of accounts 110,140 110,050 110,118 110,153 110,413 110,584 110,113 110,485 110,659 111,445 Billings $ 50,670 54,209 60,424 66,304 69,840 78,329 85,094 84,328 83,030 84,394 Commercial1
Number of accounts 20,384 20, 320 20,344 20,429 20,512 20,509 20,306 20,399 20,423 20,690 Billings $ 58,416 63,080 67,748 74,720 76,950 76,586 59,883 71,480 76,805 75,775 Industrial
Number of accounts 81 81 80 80 81 77 75 72 69 71 Billings $ 644 677 736 738 796 765 528 612 614 546 Municipal2
Number of accounts 1,849 1, 885 1,882 1,916 1,939 1,985 2,019 2,049 2,067 2,100 Billings $ 8,719 9,274 11,999 13,147 14,253 15,901 14,541 16,224 15,279 16,982 Suburban Retail
Number of accounts 300 300 298 297 298 297 295 296 297 297 Billings $ 8,122 7,845 8,836 10,466 10,313 11,127 11,113 11,668 12,693 13,728 Wholesale4
Number of accounts 78 78 78 78 78 78 78 78 78 78 Billings $ 174,655 203,005 233, 356 262,764 252,521 303,340 308,865 285,174 270,653 314,131 Total
Number of accounts 174,111 174,083 174,394 175,054 175,803 176,379 176,246 177,072 177,613 178,961 Billings $ 369,743 412,145 466, 279 520,133 522,552 595,509 595,912 591,408 607,162 631,529 Percentage of Revenue
Residential 32.2% 31.1% 30.8% 30.4% 32.1% 31.5% 33.7% 34.9% 34.3% 33.3% Non-residential 3 20.5% 19.6% 19. 2% 19.0% 19.6% 17.5% 14.4% 16.9% 17.4% 16.9% Wholesale 47.3% 49.3% 50.0% 50. 6% 48.3% 51.0% 51.9% 48.2% 48.3% 49.8% 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
257 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Wastewater Accounts, Billings & Discharge by Type of Customer Fiscal Years Ended 2015 to 2024
(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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Multiple-Family Residential
Number of accounts 36,313 36,293 36,323 36, 326 36,387 36,467 36,528 36,595 36,603 36,660 Hundred cubic feet 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 9,870,025 Millions of gallons per day 20.9 20.1 20.2 21. 1 20.9 21.5 21.0 20.3 20.3 20.2 Billings $ 100,178 101,730 110,829 126, 789 133,454 146,548 153,611 161,553 167,375 170,687 Single-Family Residential
Number of accounts 111,173 111,137 111,268 111, 385 111,681 111,869 111,398 111,786 111,995 112,795 Hundred cubic feet 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 5,394,310 Millions of gallons per day 12.9 12.2 12.3 12. 8 12.4 13.0 13.1 11.8 11.2 11.0 Billings $ 61,048 61,177 66,661 76, 534 79,971 89,688 95,297 96,687 96,545 99,207 Commercial 2
Number of accounts 15,460 15,411 15,388 15, 494 24,465 24,721 24,941 25,278 25,564 26,002 Hundred cubic feet 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 5,100,817 Millions of gallons per day 15.6 15.1 15.1 14. 8 14.3 12.8 8.5 9.9 10.5 10.4 Billings $ 76,042 77,387 80,968 89, 803 91,069 86,650 ^ 61,071 78,207 86,205 89,669 Municipal 1, 2
Number of accounts 731 738 751 763 1, 109 1,150 1,182 1,208 1,218 1,233 Hundred cubic feet 570,386 588,044 578,015 589, 621 585,833 545,917 420,610 476,957 465,494 520,411 Millions of gallons per day 1.2 1.2 1.2 1 .2 1.2 1.1 0.9 1.0 1.0 1.1 Billings $ 5,534 5,965 7,586 7, 163 9,002 8,885 7,605 8,829 9,197 10,825 Suburban Retail (Watershed Keepers)
Number of accounts 9 8 8 8 8 7 7 7 6 4
Hundred cubic feet 259 200 221 321 217 216 203 62 150 200 Millions of gallons per day 0.0 0.0 0.0 0 .0 0.0 0.0 0.0 0.0 0.0 0.0 Billings $ 2 2 2 4 3 3 3 2 3 4
Unmetered Properties*
Number of accounts 306 302 302 297 294 404
Hundred cubic feet N/A 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 N/A
Billings $ 82 112 117 118 110 78
Total
Number of accounts 163,686 163,587 163,738 163, 976 173,956 174,516 174,358 175,171 175,680 177,098 Hundred cubic feet 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 20,885,763 Millions of gallons per day 50.5 48.6 48.8 49. 9 48.8 48.4 43.5 43.0 43.0 42.7 Billings $ 242,804 246,261 266,046 300, 293 313,581 331,886 317,704 345,396 359,435 370,470 Percentage of Revenue
Residential 66.4% 66.2% 66.7% 67. 7% 68.1% 71.2% 78.3% 74.8% 73.4% 72.9% Non-residential 33.6% 33.8% 33.3% 32. 3% 31.9% 28.8% 21.7% 25.2% 26.6% 27.1% 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
258 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Historical Hetchy Water Sales
Fiscal Years Ended 2015 to 2024

Note: May not total due to rounding.

Sources:
*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.

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Sales*
Groveland Community Services District $ 121,840 163,525 168,757 168,377 147,448 160,626 188,208 155,032 139,593 113,887 Lawrence Livermore 1,787,240 1,836,447 211,771 630,097 132,893 36,863 2,627,028 3,214,043 2,776,239 2,935,237 State of California 8,960 9,429 11,430 13,625 13,392 13,139 11,135 12,422 13,948 9,340 Other Residential Customers 13,391 14,368 15,680 14,726 7,943 1,425 3,469 3,979 3,889 5,803 Water Assessment 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 46,266,000 Total sales $ 38,731,431 38,623,769 35,007,638 33,426,825 33,879,676 34,797,053 46,978,840 49,200,476 52,569,669 49,330,267 Consumption (hundred cubic feet)**
Groveland Community Services District 156,801 161,249 154,319 166,624 143,437 158,037 188,595 151,839 134,734 106,254 Lawrence Livermore 307,606 282,531 28,389 81,029 14,267 2,543 266,323 298,585 251,881 262,692 State of California 1,174 1,230 1,302 1,459 1,346 1,235 960 996 1,119 772 Other Residential Customers 2,248 2,152 2,085 1,803 1,986 2,454 2,258 2,105 2,069 2,131 Total consumption 467,829 447,162 186,095 250,915 161,036 164,269 458,136 453,525 389,803 371,849

Demographic & Economic Information
259 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Historical Hetchy Power Electric Sales
Fiscal Years Ended 2015 to 2024

*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 Photovoltaic 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. #WSPP includes only energy sales. Excludes sales to CleanPowerSF and CAISO. ⌂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. 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Sales (Megawatt hours)
General Fund Rate Subsidized~~ 359,519 373,114 366,880 375,327 366,867 348,157 303,588 331,968 337,995 336,353 Enterprise Rate~~ 487,869 495,272 484,070 471,554 477,477 452,951 404,810 422,200 433,999 447,918 Wholesale market Power Sales (Megawatt)@ N/A N/A N/A N/A N/A N/A 110,000 — — 95,000 Western Systems Power Pool# — 9,520 29,050 15,900 — 84,574 43 — — 54,000 Modesto/Turlock Irrigation Districts◊ 115,026 377,981 152,321 46,651 — — — — — — Non-city Agencies* 101,605 99,568 95, 297 112,157 146,527 133,805 128,945 132,250 144,908 154,542 Moccasin/City of Riverbank 25,472 30,451 9, 114 9,650 8,235 7,220 7,672 20,939 22,881 13,519 Total sales 1,089,491 1,385,906 1, 136,732 1,031,239 999,106 1,026,707 955,058 907,357 939,783 1,101,332 Purchases** 45,465 113,154 808 188, 052 157,227 58,477 6,598 6,505 46,806 162,669 Generation~ 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 1,396,271 Total purchases/generation 1,034,114 1,645,222 1, 726,880 1,490,513 1,369,575 1,346,325 982,388 1,229,579 1,347,293 1,558,940 Banked/(Withdrawal)⌂ 78,391 — — — — — — — — —
Sales (Dollars in thousands)***
General Fund Rate Subsidized~~
$ 18,125 22,151 23,668 26,591 28,766 28,990 28,095 34,154 45,276 54,335 Enterprise Rate~~ 65,022 65,897 67,627 67,598 73,224 74,895 68,696 81,707 81,105 79,700 Wholesale market Power Sales@ N/A N/A N/A N/A N/A N/A 468 — 1,157 2,750 Western Systems Power Pool# — 157 755 688 — 2,780 1 — — 3,783 Modesto/Turlock Irrigation Districts◊ 4,488 13,634 7,700 2,612 — — — — — — Non-city Agencies* 14,628 15,610 16, 350 19,359 23,258 22,255 22,902 24,753 29,582 32,047 Moccasin/City of Riverbank 1,100 1,095 550 577 539 625 887 2, 377 2,524 1,775 Total sales $ 103,363 118,544 116, 650 117,425 125,787 129,545 121,049 142,991 159,644 174,390 Purchases** $ 2,045 5,546 1, 859 8,671 11,832 7,381 6,271 6,430 7,971 15,549 Number of meters
Electric 2,305 2,627 3, 068 3,547 3,747 4,077 5,385 5,110 6,238 7,043 Demographic & Economic Information
260 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Historical CleanPowerSF Electric Sales
Fiscal Years Ended 2016 to 2024

^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.
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Power Sales (Megawatt hours)*
Residential 163 148,220 233,515 433,541 1,236,988 ^ 1,295,948 1,217,861 1,265,771 1,171,777 Commercial
Small Commercial Service 14,985 111,618 116,296 484,704 463,977 398,230 411,281 402,982 388,592 Medium Commercial Service 14,129 92,718 88,924 417,703 402,651 331,389 362,464 359,687 333,164 Large Commercial Service 12,999 93,968 118,327 797,052 870,886 853,230 869,320 860,008 991,559 Agricultural — 42 1,293 6,043 6,004 7,453 8,835 6,402 6,845 Street and Outdoor Lighting — — 38 1,452 1,515 1,477 1,467 1,395 803 Commercial Subtotal 42,113 298,346 324,878 1,706,954 1,745,033 1,591,779 1,653,367 1,630,474 1,720,963 Total Power Sales 42,276 446,566 558,393 2,140,495 2,982,021 2,887,727 2,871,228 2,896,245 2,892,740 Sales (Dollars in thousands)*
Residential $ 14 10,782 15,993 30,787 102,434 ^ 98,172 109,135 149,734 160,263 Commercial
Small Commercial Service 1,226 8,649 8,716 38,830 38,314 29,289 36,411 44,609 47,740 Medium Commercial Service 1,386 7,278 6,809 34,254 33,505 24,516 33,369 40,497 39,927 Large Commercial Service 1,109 6,860 8,611 62,595 67,963 58,170 74,068 89,017 114,449 Agricultural — 3 59 329 326 366 581 543 626
Street and Outdoor Lighting — — 3 113 105 91 111 147 120 Commercial Subtotal 3,721 22,790 24,198 136,121 140,213 112,432 144,540 174,813 202,862 Total Sales $ 3,735 33,572 40,191 166,908 242,647 210,604 253,675 324,547 363,125 Average Sale (in Dollars per Kilowatt hour)
Residential $ 0.08334 0.07274 0.06849 0.07101 0.08281 0.07575 0.08961 0.11829 0.13677 Commercial
Small Commercial Service 0.08181 0.07749 0.07495 0.08011 0.08258 0.07355 0.08853 0.11070 0.12285 Medium Commercial Service 0.09812 0.07850 0.07657 0.08201 0.08321 0.07398 0.09206 0.11259 0.11984 Large Commercial Service 0.08530 0.07300 0.07277 0.07853 0.07804 0.06818 0.08520 0.10351 0.11542 Agricultural — — 0.04563 0.05444 0.05430 0.04911 0.06576 0.08482 0.09145 Street and Outdoor Lighting — — — 0.07782 0.06931 0.06161 0.07566 0.10538 0.14944 Commercial Subtotal 0.08836 0.07639 0.07448 0.07974 0.08035 0.07063 0.08742 0.10722 0.11788 Total Average Sales $ 0.08834 0.07518 0.07198 0.07798 0.08137 0.07293 0.08835 0.11206 0.12553 Data not available - CleanPowerSF launched in May 2016. 261 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
262 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Budgeted Full-Time Equivalent (FTEs) Employees by Division Fiscal Years Ended 2015 to 2024

*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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Water Enterprise
City Distribution & Water Administration 260 268 276 291 304 307 300 314 312 310 Natural Resources 82 82 84 85 86 87 89 91 95 94
Water Quality 76 81 82 83 85 85 85 86 86 88
Water Resources 24 24 23 23 23 23 22 23 22 23
Water Supply & Treatment 229 229 232 232 229 229 231 239 239 240 Total Water 671 684 697 714 727 731 727 753 754 755
Wastewater Enterprise
Administration 11 14 12 12 12 13 12 18 14 15
Source Control & Wastewater Labs 66 66 65 66 59 60 59 58 61 62 Environmental Engineering 53 53 54 54 58 58 59 60 62 60 Maintenance 141 141 137 138 135 135 141 149 152 152
Bayside Operations 114 115 114 114 111 113 112 112 104 105 Planning & Regulation 47 47 46 47 46 46 32 33 34 33
Sewer Collection Operations 51 51 51 51 59 59 63 65 79 81 Total Wastewater 483 487 479 482 480 484 478 495 506 508 Hetch Hetchy Water and Power Enterprise
Hetchy Water
Water Project Operations 201 207 203 206 211 216 217 218 214 216 Hetchy Power*
Energy Services 30 30 29 30 27 28 — — — —
Long Range Planning & Light, Heat, and Power 51 51 52 52 54 54 109 111 121 127 Power Administration 23 23 20 21 21 21 — — — —
Subtotal Hetchy Power 104 104 101 103 102 103 109 111 121 127 Total Hetch Hetchy Water and Power 305 311 304 309 313 319 326 329 335 343 CleanPowerSF
Administration 9 11 13 19 26 36 32 33
Total CleanPowerSF 9 11 13 19 26 36 32 33
Bureaus
Business Services Admin, AIC#, Audit and Financial
Services 71 71 73 73 73 73 72 74 77 77
Customer Services 106 106 103 103 104 104 103 103 110 112 Communications 22 22 22 22 21 21 21 21 21 21
General Manager and Others ^ 11 11 12 13 18 19 21 28 30 30 Strategic Planning, Real Estate Services, and
Community Benefits 18 18 18 18 17 17 22 23 24 25
Human Resource Services 58 59 58 58 58 58 62 69 72 73
Information Technology Services 78 78 78 78 78 78 79 81 80 84 Infrastructure 384 389 385 385 380 376 377 374 375 375 Total Bureaus 748 754 749 750 749 746 757 773 789 797
Total SFPUC annually budgeted positions 2,207 2,236 2,238 2, 266 2,282 2,299 2,314 2,386 2,416 2,436 Annual Salary Ordinance Positions (AAO) ~ 2,430 2,456 2,473 2, 493 2,542 2,557 2,599 2,657 2,720 2,745

Data not available -
CleanPowerSF launched
in May 2016.
~
Operating Information
263 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Water Operating & Capacity Indicators
Fiscal Years Ended 2015 to 2024

*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 co sts 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. The increase in fiscal year 2024 is mainly related to new potable main installed. ^^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. #Due to various billing cycles, fiscal year 2023 sales for wholesale customers were updated to reflect their accurate consumption.

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

Water 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Water mains (miles)^^ 1,240 1,718 ^ 1,717 ^ 1,718 1,719 1,719 1,719 1,719 1,719 1,724 ^ Water main breaks repaired 97 136 102 133 168 142 161 191 208 120 New service installations 837 710 1,162 733 628 610 543 428 496 372 Meter installed and replaced 1,360 1,395 2,209 1,888 1,699 1,817 1,835 718 871 1,170 Responses to fire alarms 22 20 20 24 13 12 16 14 23 12
Production and Consumption (millions of gallons)
Water production 69,553 64,454 68,995 73,330 71,272 75,034 73,767 68,271 64,446 68,558 Average daily production 191 176 189 201 195 205 202 187 177 187 Maximum daily production 255 242 283 272 275 277 274 237 241 241 Water consumption# 69,284 61,932 63,706 69,331 67,319 69,934 68,812 66,005 61,981 63,854 Average daily consumption# 189.9 169.2 174.6 190.0 184.5 190.9 188.6 180.8 169.8 174.4 Watershed area (acres)
Alameda 37,314 37,314 37,314 37,314 37,314 38,306 38,306 38,944 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 61,160 61,160 61,798 61,798 61,798 Reservoir storage (millions of gallons)*
Calaveras@ 6,491 8,774 11,986 8,220 13,026 20,390 19,170 19,533 24,952 29,347 Crystal Springs 17,380 17,103 17,385 16,192 17,015 16,940 16,711 16,251 17,565 15,795 Pilarcitos 767 783 872 773 838 849 622 776 827 843
San Andreas 5,626 5,786 5,935 5,587 5,483 5,381 5,123 5,113 5,223 4,643 San Antonio 14,433 14,927 14,576 13,263 14,835 14,434 14,917 14,587 15,872 16,252 Total 44,697 47,373 50,754 44,035 51,197 57,994 56,543 56,260 64,439 66,880 Treatment plant average capacity (millions of gallons)
Harry Tracy 29.3 35.9 45.3 33.2 38.0 34.7 31.7 29.9 29.2 33.2 Sunol Valley 16.9 27.0 39.6 16.5 26.1 11.1 6.9 22.6 29.3 35.4 Total 46.2 62.9 84.9 49.7 64.1 45.8 38.6 52.5 58.5 68.6

**
Operating Information
264 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Wastewater, Hetchy Water and Hetchy Power Operating & Capacity Indicators Fiscal Years Ended 2015 to 2024

@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 reservoirs, San Francisco Public Utilities Commission has In -City System Storage Capacity of 413 million gallons (value revised based on current reservoir storage operation limits). ⌂The decrease in fiscal year 2017 was mainly due to repair work at Lake Lloyd. **The decrease in fiscal years 2014, 2015 and 2018 was mainly due to the dry year condition which resulted in less water available for hydroelectric generation.
#Moccasin Low-Head was out of service in fiscal years 2015, and 2017 to 2024. ^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.
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Wastewater
Collection System pipes (miles)@
1,123 1,125 1,131 1,131 1,139
Sanitary sewers (miles)@ 993 993 993 993 993 N/A N/A N/A N/A N/A Transport/storage sewers (miles)@ 17 17 17 17 17 N/A N/A N/A N/A N/A Sewer breaks repaired 1,663 1,520 1,481 912 819 810 531 920 769 719 Inspection performed (miles) 156 80 93 135 215 191 61 56 55 78 Sewer replaced (miles) 14.9 19.5 13.6 11.0 11.4 15.2 8.9 3.8 8.1 10.1 Responses to customer calls 16,190 10,863 8,260 8,410 7,885 8,510 6,779 6,929 10,283 8,970 Treatment plant/ facilities average daily flow
(millions of gallons per day)
Oceanside plant 15.6 16.0 18.4 15.3 16.5 14.5 13.9 13.9 16.2 15.3 North Point plant 4.7 7.1 11.8 2.7 4.2 1.1 0.9 2.4 4.7 3.3 Southeast plant 64.4 65.4 74.7 61.9 70.2 56.1 48.7 52.2 63.9 61.2 Yerba Buena & Treasure Island 0.3 0.3 0.3 0.3 0.4 0.3 0.3 0.3 0.4 0.4 Total 85.0 88.8 105.2 80.2 91.3 72.0 63.8 68.8 85.2 80.2 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
Reservoir storage (millions of gallons)*
Hetch Hetchy 110,745 117,424 111,755 117,231 113,020 116,653 101,808 115,948 107,925 117,359 Lake Eleanor 7,731 8,677 7,610 8,186 8,677 8,398 8,429 8,614 7,883 8,740 Lake Lloyd (Cherry) 64,025 88,478 77,951 83,067 87,829 86,332 82,150 85,989 83,869 87,888 Total 182,501 214,579 197,316 208,484 209,526 211,383 192,387 210,551 199,677 213,987 Hetchy Power
Hydroelectric generation (megawatt hours)
Holm 436,499 654,952 919,492 431,659 508,060 538,201 339,180 535,177 553,559 613,428 Kirkwood 283,922 528,724 482,996 510,888 401,779 422,278 328,410 390,066 438,612 491,090 Moccasin 255,778 338,005 319,691 356,004 295,766 325,194 304,325 294,705 305,464 286,649 Moccasin Low-Head # — 1,359 — — — — — — — —
Total 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 1,391,167

⌂
** ^^ **
Data not available FY2019 and prior
Operating Information
265 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Major Water and Sewer Customer Accounts by Revenue
Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)

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 Customer Care and Billing System.

Customer Type 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Water Wholesale Customers
California Water Service Company $ 46,911 48,792 57,541 63,489 60,859 66,944 67,781 64,447 70,051 74,681 Hayward Municipal Water System 21,475 21,475 28,613 32,316 31,103 31,518 32,130 30,880 29,140 35,828 A
lameda County Water District 13,213 13,847 14,366 16,947 16,849 17,609 21,089 20,509 24,485 27,606 City of Sunnyvale 12,885 15,600 17,810 21,265 19,800 21,029 21,460 19,768 20,375 25,779 City of Palo Alto 15,743 16,946 19,975 21,985 21,134 21,773 21,705 21,323 21,671 24,600 City of Redwood City 13,151 14,661 17,169 18,781 18,190 19,408 18,948 17,758 18,241 20,941 City of Mountain View 12,407 13,750 15,340 16,791 16,248 16,790 17,415 16,358 16,895 20,068 City of Milpitas 8,612 9,389 10,722 11,509 11,494 13,284 11,897 10,997 11,307 14,168 City of Daly City 5,571 8,804 12,555 13,076 12,642 12,642 12,288 12,288 12,288 11,866 ESD/San Jose Municipal Water System 7,185 8,222 9,307 10,182 9,652 9,576 9,410 8,940 9,404 10,674 Water Retail Customers
San Francisco International Airport 3,095 3,220 3,907 4,452 4,880 4,748 3,685 4,420 5,298 6,048 Lawrence Livermore National Laboratory N/A 1,836 211 631 133 N/A 2,636 3,214 2,776 2,935 NASA Shared Services Center (NSSC) 1,484 1,347 1,741 2,514 2,243 2,481 2,924 2,399 2,457 2,765 Parkmerced Investors Properties, LLC 1,393 1,449 1,678 1,840 2,088 2,372 1,878 2,615 2,345 2,472 University of California, San Francisco 1,100 1,435 1,534 1,689 1,694 2,185 2,304 2,529 2,419 2,279 Golden Gate National Cemetery 649 839 836 946 900 1,320 1,557 1,663 1,573 1,731 Recreation & Parks Department 878 578 1,393 1,397 1,353 2,679 2,481 2,927 1,432 1,697 Public Health Department 672 808 1,040 1,168 1,157 1,318 1,223 1,261 1,243 1,415 San Francisco State University N/A N/A N/A N/A N/A N/A N/A N/A 896 997 1169 Market Street N/A N/A N/A N/A N/A N/A N/A N/A N/A 812 Sewer Retail Customers
Parkmerced Investors Properties, LLC 2,326 2,248 2,493 2,790 3,098 3,477 2,779 3,878 3,476 3,730 University of California, San Francisco 1,882 2,266 2,068 2,360 2,414 2,852 3,068 3,378 3,152 3,255 Public Health Department 647 1,041 1,334 1,547 1,461 1,635 1,513 1,091 1,534 1,773 1169 Market 607 579 640 743 694 614 651 894 1,185 1,246 Royal Tallow & Soap N/A N/A N/A N/A N/A N/A N/A N/A N/A 1,038 San Francisco State University 601 618 648 860 810 803 496 804 881 1,019 Hyatt Corporation 607 579 640 743 694 N/A N/A N/A 633 751 NRG Energy Center San Francisco 782 874 926 970 1,043 889 653 632 817 617 The Stonestown Properties N/A N/A N/A 595 722 761 831 617 628 573 T8 Urban Housing Associates, LLC N/A N/A N/A N/A N/A N/A N/A N/A N/A 556

Operating Information
266 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Major Electric Retail and Wholesale Customer Accounts by Revenue Fiscal Years Ended 2015 to 2024
(Dollars in Thousands)

*Reflects reduced power generation and power available for sale. **Updated to reflect latest data.
#Excludes sales to CleanPowerSF and CAISO. Fiscal year 2023 data updated. Other includes wholesale market power sales.

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

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

Electric Retail and Wholesale Revenue

Customer Type 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Retail Customers
San Francisco International Airport $ 41,614 42,687 43,070 43,434 44,574 46,248 41,626 51,110 46,604 45,996 Municipal Transportation Agency 6,466 7,631 8,193 8,594 8,249 7,758 6,353 9,607 14,489 17,431 Administrative Services Agency 4,386 5,419 5,442 5,743 9,739 9, 919 8,707 9,356 11,644 13,487 SFPUC - Wastewater Enterprise 9,748 9,847 10,397 9,979 10,687 10,531 10,522 10,898 13,451 12,566 SFPUC - Water Enterprise 8,640 7,954 8,950 8,592 9,369 9,831 10,130 10,796 10,662 10,655 Department of Public Health 1,878 2,842 3,125 3,470 4,837 5,228 5,723 6,358 7,298 8,785 San Francisco Unified School District 1,864 2,214 2,285 2,394 2,252 2,193 1,929 3,068 4,092 5,055 Port of San Francisco 1,971 1,941 1,983 2,294 2,236 2,061 1,639 3,156 3,634 3,330 Recreation and Parks Department N/A N/A N/A N/A N/A 1,167 1,145 1,145 2,075 2,561 Port Tenants N/A N/A N/A N/A N/A N/A N/A N/A N/A 2,162
Wholesale Customers
CleanPowerSF (per WSPP) $ N/A 367 1,893 5,846 13,521
Energy N/A N/A 3,284 580 299 31 32 5,275 3,517
Other N/A N/A 217 2,446 40 2,425 1,557 571 10,004
Western Systems Power Pool # (Exclude CPSF) — 157 237 1,157 6,533 Energy N/A N/A N/A 668 — 2,780 1 — — 3,783
Other N/A N/A N/A — — 325 468 — 1,157 2,750
M
odesto Irrigation District 2,666 6,345 8,003 2,422 N/A N/A N/A N/A N/A N/A Turlock Irrigation District 3,331 8,615 387 N/A 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
#

Operating Information
267 Statistical Section | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

Performance Measures
Fiscal Year 2024

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 1.24 1.95 Percent of in-city service connections without water for more than 4 hours due to an unplanned outage 0.10% 0.6% 0.14%
Percent of streetlight outages complying with 48-hour SFPUC response goal; complex streetlights evaluated 100.0% 95.0% 100.0%
System renewal and replacement rates for in-City water distribution mains 15 miles 4.9 miles 4.5 miles System renewal and replacement rates for Wastewater pipelines 11.3 miles 8.0 miles 7.5 miles

2. Organizational Excellence
Number of employees over the maximum permissible overtime threshold (25% of straight time) 10.0 6.0 21.0

3. Effective Workforce
Number of promotions 300 267 281
Time to hire (days) 275 100 96

4. Financial Sustainability
Average residential Power bill as a percent of median income in San Francisco 0.76% 0.66% 0.87%
Average residential Wastewater bill as a percent of median income in San Francisco 0.70% 0.64% 0.66%
Average residential Water bill as a percent of median income in San Francisco 0.58% 0.55% 0.55%
Operating cost coverage (total operational revenues/total operating costs) for Power 0.86 0.84 1.27
Operating cost coverage (total operational revenues/total operating costs) for Wastewater 2.00 1.60 1.86
Operating cost coverage (total operational revenues/total operating costs) for Water 1.91 1.91 2.21
Power debt service coverage - Indentured Coverage 1.35x N/A 64.97 Wastewater debt service coverage - Indentured Coverage 1.35x N/A 3.87 Water debt service coverage - Indentured Coverage 1.35x N/A 1.81

5. Stakeholder and Community Interest
Number of adults and children who have participated in transformative engagement through SFPUC sponsored education programs 3,250 3,250 5,020 Percent of eligible customers enrolled in California Alternate Rates for Energy (CARE) for CleanPowerSF Customers 90% or more 78.0% 77.0% 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% 20.14% 20.60%
Percent of retail customers rating the SFPUC as "good" or better on a customer survey 90.0% 90.0% 89.0%

6. Environmental Stewardship
Average water used by San Francisco residential customers (Gallons Per Capita Per Day - gpcd) 50 or less 42.8 41.8 Gallons of stormwater removed annually from the combined sewer system by green infrastructure (Million Gallons MG) 264 MG 291 MG 286 MG Percent of biogas going to beneficial uses - Oceanside Plant 75.0% 0.0% 0.0% Percent of biogas going to beneficial uses - Southeast Plant 50.0% 75.0% 44.0% Percent of CleanPowerSF customer account retention rate 90% or more 90% or more 93.5% Percent of water supplied by alternative sources to system as a whole 3.4% 3.4% 2.9% 268 | San Francisco Public Utilities Commission Annual Comprehensive Financial Report FY 2024

ANNUAL COMPREHENSIVE FINANCIAL REPORT
Project Team Acknowledgments

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 Joyce Chan, 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

FINANCIAL SERVICES STAFF

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

DESIGN AND CONTENT CONTRIBUTORS
External Affairs
Masood Ordikhani, Assistant General Manager
Communications Division
John Cote, Director
Cindy Chu, Manager
Elena Cornejo
Nancy H. Crowley
Robin Scheswohl
Roi Esguerra
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
Rosanna S Russell, Director

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, 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, Former Controller
Greg Wagner, Controller
Controller’s Office
Cover photo: Hetch Hetchy
Reservoir Drum Gates
Back cover photo: Moccasin
Powerhouse Generator
Rehabilitation
Photos by: Robin Scheswohl
Date of Publication:

December 2024

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

San Francisco Public Utilities Commission
An Enterprise Department of the City and
County of San Francisco, California

CleanPowerSF Sfpuc CommissionFebruary 11, 2025

CleanPowerSF Sfpuc Commission
February 11, 2025