Port Management Has Requested an Audit of the Concession Agreement
with
Puget Sound Dispatch LLC - dba Yellow Cab

Gross Receipts Definition per Agreement Section 7 C
Puget Sound Dispatch LLC (Agmt. No. AIR001494)
(5-year agreement, effective Nov. 2011)
defines
Two ways to calculate
Gross Receipts Subject to Percentage (i.e., concession) Fees                     The excerp below relates to Methodology #1.


#1                                  #2
Actual Gross Receipts                           Imputed Gross Receipts
Trip Count x Avg. Fare = Gross Receipts
actual revenue items
less
actual counts and fares reported by drivers were used for
exclusions (e.g., taxes, tips,
the first two months (Nov. and Dec. 2010) of the
etc.)
agreement
From Jan. 2011 to June 2015
Port of                      PSD Used Avg.     The excerp below relates to Methodology #2.
Seattle                         Traffic
Provided                    Patterns and
This methodology has never
AVI Counts                    Fees from its
been used.
King County
Dispatch
Center


Gross Receipts

At Agreemetn Year End, the percentage fee of 13% on Gross Receipts
is
trued-up with
Minimum Annual Guarantee (MAG) of $3,670,778.00
? If the fee is more than the MAG, an additional payment is required.
? If the fee is less than the MAG, no additional payment is required.