PORT OF SEATTLE- DOLLAR CORPORTATION
INDEPENDENT ACCOUNTANTS' REPORT ON
AGIEED-UPON PIiOCEDURES RELATING TO DOLLAR
COIU'OIIATION AGIEEMENT FOR TEE TWO
'I'WELVE-MONTHPEIUODS ENDED OCTOBER 31,2006 AND 2005

BRANCH,RICHARDS & CO.,P.S.
fmrpomlcdin 1972
Certified Public Accountants
155 NE 100th St., Suite 110                                                                              Fax (206) 729-3498
Seattle, WA 98125                                                                              Phone (206)729-0111 (206) 624-4723
INDEPENDENT ACCOUNTANTS' REPORT
ON AGREED-UPON PROCEDURES

August 30,2008

To: Applicable Management of Port of Seattle
We have performed procedures requested by you with respect to the calculation and payment of
concessionable revenue and audit requirements included in the Rental Car Lease and Concession
Agreement (the Agreement) dated November 1,2004 between the Port of Seattle (POS) and
Dollar Rent-A-Car for the two twelve month periods ended October 31, 2006 and 2005. This
report is solely for your information and is not to be used for any other purpose. It is intended to
assist POS in evaluating compliance with the lease requirements. This agreed-upon procedures
engagement was performed in accordance with standards established by the American Institute of
Certified Public Accountants. The sufficiency of these procedures is solely the responsibilityof the
specified users of the report. Following is a listing of the procedures that we performed with
respect to the above noted lease periods and the results and conclusions we formed as a result of
such procedures.
General Description of Procedures Performed
The majority of our fieldwork was performed with the assistance of Dollar Rent-A-Car's
accounting personnel in Seattle, Washington. Dollar operates a rental system known as Orion,
which is posted monthly into Great Plains accounting system. Great Plains feeds the Fee
Worksheet at the end of the month (See Exhibit A for a sample of August 2006). Upon the
arrival of a customer, an agent creates a rental contract in the system. The customer signs to
certib that he/she did not come into the airport within the last 8 hours at the off airport location.
Customers are shuttled to its main location at 160h,which is within three miles from the airport.
Afterwards, the contract is sent to the Accounting department where a batch is set up for the
day's activity. A Daily Business Report (DBR) is printed from the system, where revenue is
posted by category. Each Rental Agreement is verified against the DBR. The batch for the day is
processed and an AR distribution report is run at the end of the month. A Journal Entry is made
from the AR distribution report into the General Ledger (GL) at the end of the month. From the
GL, a Revenue Report is generated (See EhbitB for a sample of August 2006). Dollar prepares
the Fee Worksheet that shows the monthly revenue breakout by category and totals to
concessionable revenue reported to the Port.
We obtained the General Ledger (Revenue Report) for all of the months included in the two
twelve month periods ended October 31, 2006 and 2005.
Following is a listing of procedures performed during this engagement.

1 . Detailed sample selections 2005 and 2006 Daily Business Report (DBR)- We selected a
sample of 15 total closed rental agreements from each of the months of February 2005, June
2005, December 2005 and October 2006. In selecting these samples, we analyzed the revenue
collected on each agreement and agreed it to the amount posted in the Daily Business Report.
Additionally, we were able to summarize the totals of the Daily Business Report into the
Revenue Report without exception.
2. Agreed DBR to Revenue Report - The DBR shows the daily totals per revenue category,
while the Revenue Report shows the monthly total per revenue category. Thus, we were able
to tie the DBR for particular days into the GL total. This total from the GL at the end of the
month rolls into the Revenue Report.
3. Agreed Revenue Report to Fees worksheet - The Fees worksheet shows revenue totals by
account: Mileage & Time, Damage Wavier, Personal Accident Insurance, Drop Fees,
Additional Driver, Fueling, Child seat, GPS, etc. For the two twelve month periods ended
October 31, 2006 and 2005, we agreed totals in the Fees worksheet to the revenue amounts in
the Revenue Report. Amounts agreed without material exception.
We noted that certain amounts in the GL were excluded from concessionable revenue
reported in the fee worksheet. The Agreement defines Gross Revenue as to what must be
included and what is excluded from concessionable revenue. Based on that definition, we
reviewed all revenue sources and exclusions to determine whether Dollar was properly
including all appropriate revenue. Also, we analyzed revenue and excluded line items to make
our determinations as to contract compliance. The following are descriptions of our findings
resulting from this analysis and we have included those findings in our Schedule of Findings at
the end of the report.
We noted that revenue for 2005 was understated due to omitted revenue. Chain revenue
was not included on the Fees Worksheet for the months of December '05, January '06 and
February '06 totaling $236. Based on discussion with Dollar personnel and review of
supporting documentation, this amount was not included due to report set up error. We
have therefore included Chain revenue as part of concessionable revenues in the
Schedule of Findings.
We noted that the Reported Supplemental Liability Insurance Revenue to the Port for the
April 2005 was understated by $7,168.This error was as a result of reporting the net
revenue instead of gross revenue. We have therefore included Supplemental Liability
Insurance revenue in the Schedule of Findings.
We noted that an airport customer for Dollar was one who flies into .the Airport within
eight (8) hours, thereafter, enters into a motor vehicle rental agreement, but it should be
twelve (12) hours according to the Concession agreement.
4. Testing for Contract Compliance Items - Contract compliance items of the Agreement that
we tested included Article 5.1 Concession Fees; 5.2.4Recovery of Percentage Fee; 5.2.2

Annual Report and 5.25 Customer Facility Charges (CFC). The following are the results of
our compliance testing.
Concession Fee and Recovery of Percentage Fee - We agreed the total monthly
Concessionable Revenue for each month of the twelve-month periods ended October 3 1, 2006
and 2005 per the Revenue Report to the monthly concession payments received by the Port of
Seattle. We were able to verify that amounts paid were ten percent of total concessionable
revenue per the fee worksheet for the months that concessionable revenues exceeded the
monthly minimum guarantee. In the months that concession revenue did not exceed the
monthly minimum guarantee amount, we noted that Dollar paid the minimum guarantee.
Annual Report- Based on the Agreement,"Concessionaire shall submit, for the approval of
the Port, an "Annual Report" for each Agreement year during the Term of this Agreement.
Such Annual Report shall be submitted no later than ninety (90) calendar days following the
last day of each Agreement Year. Concessionaire shall bear the entire cost of preparing and
providing such reports. The Annual Report shall be prepared by Concessionaire and signed
by its chief financial officer, or their designee, attesting to the amounts shown. The Annual
Report shall also be audited by an independent certified public accounting firm in accordance with
generally accepted auditing standards ("GAAS"), with a copy of the independent certified public
accounting firm'saudit report sent to the Port stating that in its professional opinion, based on
the audit, the Concession Fees paid by the Concessionaire during the previous Agreement Year
were properly calculated and paid in accordance with the terms and conditions of the
Agreement ." Based on our review of the audit reports for the twelve-month periods ended
October 31, 2006 and 2005, it appears that the audit reports were issued The reports were
dated within the 90 calender daysas required by the agreement but we were unable to verrfi
when the reports were actually issued and submitted to the Port of Seattle withing the 90 day
requirement.
Customer Facility Charge- The Port requires Dollar to collect a Customer Facility Charge
(CFC) of $4/day on all vehicle rental transactions originating at the Airport starting February
1, 2006. For the rental agreements selected in the Month of February, March and October
2006, we were able to verify that Dollar is charging customers on the rental agreements. We
were also able to verifL that total CFCYsfor the above selected months per the GL were paid
to the POS. Based on our testing it appears that CFC 'sare being collected andpaid to the
Port as required in the Agreement.
Conclusion
Based upon our detailed testing, nothing came to our attention that rental agreement revenue per
supporting rental agreements is not being captured by the systems daily summary reports used to
report revenue. The discrepancies resulting fiom our testing and disclosed above relate more to
isolated errors in the system or an accounting oversight. Included on the next page is a Schedule
of Findings that quantifies the revenue items we have added to total concessionable revenue that
includes Supplemental Liability Insurance revenue (SLI) and Chain revenue. For the twelvemonths
ended October 31, 2005, Dollar has understated Supplemental Liability Insurance revenue
by $7,168. For the twelve months ended October 3 1, 2006, Dollar understated Chain revenue by !
$236 of additional revenue that we believe is concessionable per terms of the Agreement. These           I

additional revenues result in $717 of additional concession rent for the twelve months ended
October 3 1, 2005 and $24 of additional concession rent for the twelve months ended October 3 1,
2006 due to the POS.
Because the above described procedures were not sufficient to constitute an audit made in
accordance with generally accepted auditing standards, we do not express an opinion on the
overall financial position of the Port of Seattle, or Dollar Corporation.
An agreed-upon procedures engagement is one in which a practitioner is engaged by a client to
issue a report of findings based on specific procedures performed on a subject matter. The
specified parties and the practitioner agree upon the procedures to be performed by the
practitioner that the specified parties believe are appropriate. In an engagement performed under
this section, the practitioner does not perform an examination or a review, and does not provide
an opinion or negative assurance. Instead, the practitioner'sreport on agreed-upon procedures is
in the form of procedures and findings.
Sincerely,

Certified Public Accountants
Seattle, Washington

Dollar Rent-A-Car
SCHEDULE OF FINDINGS
FOR THE TWELVE MONTHS ENDED OCTOBER 31,2006
Nov-05    Dec-05     Jan-06    Few6    Mar-06    Apr-06    May-06     Jun-06     Jul-06      Aug-06     Sep-06     Oct-06     Total
DollarReported Gross Revenue   S  861,782  S  840,233  S  817,398  S 719,121  S  765,885  %  653,906  S  700,834  3  954,766  S  1,463,528  S  1,707,999  %  1,093,274 S 1,119.975  9 11,698,701
FINDINGS: ADD
UnderstatedRcvcnuc
Chain
Total Additions
Audited Gross Revcnucs            86 1,782     840,268     817,564    719,156     765,885     653,906     700,834     954,766     1,463,528     1,707,999     1,093,274    1,119,975     11,698,937
Percentage underrepad (see note below)                                                                                                                   0.00%
Concession Fee Payable - 10%        86,178      84,027     81,756    71,916     76,589     65,391     70,083     95,477      146,353      170.800      109,327    11 1.998     1,169.894
Ltss Concession Fee Reported         (86.178)      (84,023)     (81,740)    (71,912)     (76,589)     (65,391)     (70.083)     (95,477)     (146,353)     (170,800)     (109,327)    (111,998)    (1,169,870)
Add1 Concession Payable                         4        17        4                                                                                           24
Add'l Conclssion & CFC Payable S - S       4  S     17  16     4  S -  S - S -  S -  S - S -  S - S -  S       24

Dollar Rent-A-Car
SCHEDULE OF FINDINGS
FOR THE TWELVE MONTHS ENDED OCTOBER 31,2005
Nov-04    Dec-04   Jan-05   Feb-05    Mar-05    Apr-05   May-05   Jun-05     Jul-05     Aug-05    Sep-05    Oct-05     Total
Dollar Reported Gross Revenue    790,150    763,825  717,661    656,969   665,520    603,059  715,875   904,351    1,433,438   1,487,112    998,544    913,630    10,650,134
FINDINGS: ADD
Supplemental Liability insurance                                                  7,168                                                               7,168
Chains
Total Additions
Audited Gross Revenues        790,150   763,825  717,661    656,969   665,520    610,227  7 15,875   904,351    1,433,438   1,487,112    998,544   913,630    10,657,302
Percentage underreported (see note below)                                                                                                              0.07%
Concession Fee Payable - 10%      79,015    76,383   71,766     65,697    66,552     61,023   71,588    90,435     143,344    148,711     99,854     91,363     1,065,730
Less Concession Fee Reported     (79,015)   (76,383)  (71,766)   (65,697)   (66,552)    (60,306)  (71,588)   (90,435)    (143,344)   (148,711)   (99,854)   (91,363)   (1,065,013)
Add'l Concession Payable     S -  % -  S -  S -  $ - S  717% -  S -  % -  % - S - S -  $ 717

EXHIBIT A
SEATAC PORT FEE WORKSHEET

I             1
,I
SEATAC PORT FEE WORKSHEET
I        MONTH                    AUGUST 2006
I
SEATAC   SWM   PAK   TOTAL
4020   TIME    1,374,909.90   0.00  157.34 1;315,067.24
4021   MILES
-4022    DISC
4030   LDW
4040   PLOW
4050   GPS"
I                 4060      DROP  ,
5,774.00
~ross 4076    PAI       5,585.55
4080   GARS
,
5,240,OO
gross   4090     SLI        25,800.05
4091   SEAT      1,523,OO~
4092   ADD'L     20,083.00

4094   MlSC        0.00
5500 GAS''   ?'3;656,73'
' ' '
5501 : GAS...   23,586.69... .
1     TQTAL      1,702,727,44 .  8,OO 272835 1,707,999a83    I

EXHIBIT B
REVENUE REPORT

CMC INVESTMENTS. INC.
REVENUE BY LOCATION
f   For the Ten Months Ending August 31,2006
MONTH                            YEAR TO DATE
AU~US~   August     O/o      Yo     08/31/06    08131/05     %      Yo

REVENUE - COMBINED
Time                 4020        $1,445,038 72
M~leage              4021
D~scount              4 022          (4.575 92)
LDW            4030       117.279 25
PLOW           4040        8.942 85
GPS             4050        2.477 55
Drop Charge             4060           6.849 00
Personal AcadentIns        4070            4.829 05
GARS            4080        5,240.00
SLI                   4090           22.039 95
Baby Seats              4091            1,556.00
Add'l Dnver               4092            23.219 00
Under 25               4093           14,700 00
Racks               4094
Chains                4095
Gas- Close              5500           15.558 61
Gas - Open              5501           21.661 69
Gas Expense -5510     (29.62698)
Total Revenue .- - -
+ '-
: '
- & -
-.' -:" -1,7,655,788.Z'-
-,
-3
REVENUE - IGOTH
Time
Mileage
Discount
LDW
PLDW
GPS
Drop Charge
Personal Acddent Ins.
GARS
SLI
Baby Seats
AddlDriver
Under 25
Racks
Chains
Gas - Close
Gas - Open
Gas Expense
. Total Revenuo !...- .  ,.
. .
-