Iowa Admin. Code r. 761-524.10

Current through Register Vol. 47, No.14, January 8, 2025

Rule 761-524.10 - Financial statement

An application by a motor carrier of bulk liquid commodities (nondairy) or regular-route passengers must include a statement signed by an authorized agent of a lending institution or a certified public accountant attesting to the financial capability of that carrier. At a minimum, the certification shall be based on meeting the following ratios: Current Ratio: Minimum of 1.2:1

Current Assets

Current Liabilities =________________________________

Projected Operating Ratio: Maximum of 95

1. New Operation

(Use 5-Year Projection)Operating Expensesx 100 =__________

2. Existing Operation Operating Revenue (Use 1-Year Projection)

Working Capital Ratio: Minimum 12 days CapitalCurrent Assets Less Current LiabilitiesAverage Daily Operating Expenses =_____________________

Iowa Admin. Code r. 761-524.10