APPROXIMATELY $150,000,000 IN CAPITAL IMPROVEMENTS OVER FIVE YEARS

CCU’s Capital Improvement Program (CIP) identifies approximately $150 million in capital improvements over five years between FY2015 and FY2019. Exhibit 2.12 presents the 5 year CIP showing $90 million budgeted for FY2015. The CIP also includes projects for rehabilitation and replacement (R&R) of aging and inferior infrastructure that has been attributed to facilities acquired from private utilities. Approximately $46 million of R&R funds have been budgeted for projects in the 5 year CIP.

Full 2015 KPMG audit of CCU

http://www.charlottefl.com/…/KPMG-Final-Report-CCU-Audit.pdf