1. FY ‘11 Port Everglades Proposed Budget 1

2. Vision Statement Economic Opportunities are Endless Board of County Commission Goal Statement Number 3: Sustain the economic viability of Port Everglades 2 Cruise Terminal 18

3. 3 Port Everglades Mission

4. Key Outcomes FY ‘08 and FY ‘09 4 FY ’08FY ‘09 Value of economic activity statewide$17.9 billion$13.9 billion Direct regional jobs11,1889,948 -Port Everglades Department (including SE&C)249246 -BSO/EMS/Fire Rescue222 Total Florida jobs impacted by Port185,000143,185

5. Key Comparative Performance Data FY ‘08 and FY ‘09 Measure Port EvergladesJacksonvilleMiamiTampaSavannahCharlestonL.A. TEU’s (containers) FY ‘09796,160754,352807,06948,7882,404,9651,368,0007,261,539 FY ‘08985,095697,494828,34944,4962,687,5841,695,0008,081,361 National Container Ranking FY ‘0912151131491 FY ‘0811191230481 Tons of Cargo (millions) FY ‘0921.37.36.837.822.19.2142.8 F Y ‘0823.724.57.442.625.412.8170.0 # of Cruise Passengers FY ‘092,836,954185,4344,110,100802,937001,191,449 F Y ‘082,636,711152,4114,137,231767,7600116,7071,195,897 World Cruise Ranking FY ‘08321115-265 5

6. 6 Measure Port EvergladesJacksonvilleMiamiTampaSavannahCharlestonL.A. Operating Revenues (in millions) FY ‘09$109.6$47.3$100.1$39.8$227.8$136.2$402.2 FY ‘08117.442.394.739.2236.9165.1426.3 Operating Expenses (in millions) FY ’0973.254.869.022.9168.580.9254.1 FY ‘0873.146.661.622.5171.581.9221.8 Change in Net Assets (in millions) FY ‘0921.17.8 4.213.364.128.946.0 FY ‘0821.98.41.726.985.177.0139.2 Debt Service Coverage FY ‘091.761.841.351.51 N/A 6.432.8 FY ‘081.853.481.501.60 N/A 10.244.0 Ad Valorem Tax Support or other shared revenue from primary government (in millions) FY ‘09 -$2.7-$15.7--- FY ‘08-2.3-16.8--- Revenue Bonds - Moody’s Rating FY ‘09A2 N/A A1Aa2 FY ‘08A2 N/A A1Aa2 Key Comparative Performance Data FY ‘08 and FY ‘09

7. FY ‘11 Budgeted Revenues 7 Operating Revenues ($6.8M over FY ‘10 projected)$ 119.1 Interest Income3.9 State Grants 3.3 Less Five Percent( 6.3) Transfer from Convention Center (Bypass Road)1.0 Fund Balance81.4 Total$ 202.4 (in millions)

8. 8 Budgeted, Projected & Historical Petroleum Cargo Activity Petroleum in Barrels (in Thousands) FY 2002-2011 ProjectedBudget

9. 9 Budgeted, Projected & Historical TEU Activity Fiscal Years 2002-2011 ProjectedBudget

10. 10 Budgeted, Projected & Historical Multi-Day Passenger Activity Fiscal Years 2002-2011 ProjectedBudget

11. 11 20062010+/- Miami1,8600,002,050,000+190,000 Port Everglades1,250,0001,720,000+470,000 Port Canaveral1,370,0001,490,000+110,000 Tampa910,000800,000-110,000 Puerto Rico510,000480,000-30,000 Galveston620,000430,000-190,000 New York CityNA210,000 Cruise Homeport Trends

12. Actual FY ‘10 and Budgeted FY ’11 Tariff Increases 12 Revenue Source:FY ‘10FY ‘11 Petroleum Wharfage9.9%3.5% Fire Protection Service Fee3.0- Petroleum Dockage3.03.5 Passenger Wharfage3.5 Cruise Dockage3.5 Port User Fee - Cruise3.5 *Container Wharfage-2.5 *Cargo Wharfage (Annual Minimum Payments)-2.5 *Container Dockage-2.5 Bulk Wharfage-3.5 Bulk Dockage-3.5 Neobulk Wharfage-3.5 Neobulk Dockage-3.5 Other Dockage-3.5 * Limited to change in CPI – Estimated at 2.5%

13. Actual FY ‘10 and Budgeted FY ’11 Tariff Increases (continued) 13 Revenue Source:FY ‘10FY ‘11 Harbormaster3.0%3.5% Linehandlers3.03.5 Grid Rentals3.025.0 Storage & Demurrage3.03.5 Container Crane Rental3.03.5 Fresh Water20.03.5 Wastewater Disposal – Sewage 3.03.5 Reefer Electricity3.03.5 Reimbursement – Electricity & Labor (Terminal Use Overtime)3.03.5 Truck and Rail Petroleum-3.5 Late Manifest Penalties -3.5 Security Fees – Petroleum, Container, All Others-- Parking Fees--

14. FY ‘11 Budget Appropriations 14 (in millions) Operating Budget( FY ‘10 to FY ‘11 Down $4.5M; 5.3%} $ 78.1 Capital Budget68.2 Debt Service Budget Includes Reserves of $10.3M 42.7 Reserves13.4 Total$202.4

15. Budget FY ‘11 Operating Expense Budget Reductions From FY ‘10 Budget 15 (in thousands) Reduction to BSO (Security Guards for 9 months)$(1,576) Reduction in Purchased Insurance(1,048) Replacement of Maintenance with Capital Renewal(1,013) Reduction in Electricity( 575) Reduction in Contractual Services( 205) Reduction in Advertising( 203) Overtime Reduction Program( 132) $(4,752)

16. 16 Overtime Reduction

17. Historical Position Count 17 FundedAuthorized FY 07 Position Count229 Unfunded Positions-6___ FY 08 Position Count223229 Deleted Positions-3 Unfunded Positions-2___ FY 09 Position Count218226 Unfunded Positions-9___ FY 10 Position Count209226 Deleted Positions-2 FY 11 Position Count207224 % Reduction in Workforce (FY07 to FY11) : 10.04% 5 Deleted and 17 Unfunded

18. 18 BSO Security Expenses to Total Operating Budget FY ‘07 Actual FY ‘08 Actual FY ‘09 Actual FY ‘10 Projected FY ‘11 Budget BSO Security Cost$16,342,057$16,971,426$17,440,152$18,864,840$14,864,840 Fire Rescue 5,534,100 5,801,572 6,138,469 6,506,780 EMS 1,341,690 1,403,928 1,534,617 1,626,700 Total BSO$23,217,847$24,176,926$25,113,238$26,998,320$22,998,320 Contracted Security Services (9 months)---- 2,500,000 Total Port Operating$72,111,017$73,093,351$73,235,677$80,015,390$80,788,110 % of only BSO to Port Operating 32%33%34% 28%

19. FY ‘11 Key Proposed Capital Projects 19 (in millions) Project Previously Funded Budget FY ‘11 Northport Petroleum Terminal (3P)$37.5 Carnival Terminals – 2, 19,21, & 26$ 3.629.6 McIntosh Loop Road 7.94.5 Spangler Boulevard Bypass Road (Phase I)2.0 Land Mitigation Turning Notch20.0 Berth 33 Reconstruction5.7

20. FY 12-15 Key Proposed Capital Projects within approved Port Master Plan Components * (in millions) Portwide Dredging $111.0 Cruise Terminal 4 Parking Garage $ 38.0 Cruise Terminal 4 Expansion $ 13.0 Slip 2 Expansion $ 31.5 $ 82.5 Aggregate Terminal & Rail Yard Facility (3P) $ 55.0 Intermodal Container Transfer Facility Phase I (3P) $ 50.0 Intermodal Container Transfer Facility Southport Rail Spur $ 10.5 Northport Petroleum Terminal (3P; FY11-$37.5M + FY12-$37.5M=$75M) $ 37.5 Midport Parking Garage Construction $ 26.3 Southport Turning Notch Expansion, Phase I $ 21.7 Mitigation for Westlake Improvements (for Southport Turning Notch Phase I) $ 12.0 Container Crane $ 14.0 Spangler Boulevard Bypass Road Phase II (Previously budgeted $18M) $ 11.0 Intermodal Container Transfer Facility Southport Rail Spur $ 10.5 * Dependent on grants and public private partnership (3P) agreements 20

21. Comparative Revenue, Expense and Net Income 2002-2011 21 * Includes one time lease settlements: FY ’04 -$8,435,862 ; FY ’08-$3,800,000 ProjectedBudget

22. 22 Statement of Revenues, Expenses and Changes in Fund Net Assets For the Years Ended September 30, 2009 and 2008 (Actual) And Projected for the Year Ended September 30, 2010 201020092008 Operating Revenues $ 112,367,500 $ 109,669,054 $ 117,441,067 Less Operating Expenses (80,015,390) (73,235,677) (73,093,351) Less Depreciation (24,378,200) (20,250,286) (20,022,400) Income from Operations 7,973,910 16,183,091 24,325,316 Non-operating Revenues (Expenses) (7,428,790) (5,736,402) (6,651,540) Net Income before Capital Contributions 545,120 10,446,689 17,673,776 Capital Contributions 8,302,812 10,628,396 4,204,155 Change in Net Assets 8,847,932 21,075,085 21,877,931 Total Net Assets, Beginning of Period 479,102,719 458,027,634 436,149,703 Total Net Assets, End of Period $ 487,950,651 $ 479,102,719 $ 458,027,634