Steps to Submit a Rate Change to an Existing Petition
If you have a current license with the County of Suffolk and are looking to amend your current petition to provide a rate alteration, please make sure to follow these steps:
As referenced in Chapter 455-2: Ferry Service, below is a detailed summary of the documents that must be included in your petition for a rate alteration for your existing ferry license (please use this as a checklist):
Petition for Ferry License Rate Alteration
New rates to be charged by the petitioner for ferry service (please keep your prior rates included to reflect the adjustment you are seeking)
Certified audited financial statement for each of the last two fiscal years and shall include:
A balance sheet including net worth and retained earnings.
Profit and loss statements, stating all income and expenses.
A statement of changes in financial position.
The report of the certified or licensed public accountant shall include a statement that the examination was made in accordance with generally accepted auditing standards and that the financial statements submitted by the applicant are in accordance with generally accepted accounting principles applied on a consistent basis. This report shall contain a representation and documentary evidence that the accountant or accounting firm has undergone a peer/quality review pursuant to the procedures of the American Institute of Certified Public Accountants within the past five years.
Each applicant shall maintain adequate accounting records to permit the preparation of the required audited financial statements. Such financial accounting records shall include, but not be limited to, the following records and procedures:
Passenger fare reconciliation forms.
Monthly cash receipts journal.
Periodic summary sales reports.
Financial accounting procedures shall be designed to ensure the reliability and integrity of the accounting records.
This petition must be submitted to both the Clerk of the Legislature and the Director of BRO by emailing Ferry License.