Oregon Administrative Rules
Chapter 856 - PUBLIC UTILITY COMMISSION, OREGON BOARD OF MARITIME PILOTS
Division 25 - Miscellaneous
Section 856-025-0050 - Financial Reports
Current through Register Vol. 63, No. 3, March 1, 2024
(1) Effective for 2018, and continuing on a biennial basis thereafter, each Oregon pilot organization shall submit to the Board a Special Purpose Financial Statement (SPFS). A Review will be performed on SPFS by an independent certified public accountant who will prepare an Independent Accountant's Review Report to accompany the financial statements presented to the Board.
(2) Each Oregon pilot organization's 2018 SPFS shall be submitted to the Board no later than May 31, 2019 and shall include all relevant financial data from 2018.
(3) Every subsequent biennial SPFS from each Oregon pilot organization shall be submitted to the Board no later than May 31st of the year it is due. Each biennial SPFS shall include all relevant financial data from the two calendar years since the last SPFS reporting period (e.g., the 2019-2020 SPFS, to be submitted no later than May 31, 2021, shall include all relevant financial data from 2019 and 2020).
(4) The relevant financial data for each SPFS shall include the pilot organization's income and expenses in the following categories:
(5) The data required in subsection (4) of this rule must be submitted in the format, and include all and only the details, as set forth in Appendix A, "Income and Expense Statement."
(6) This rule does not include or require financial reporting related to the transportation system serving the Columbia River Bar pilotage ground, which shall remain subject to the annual Transportation Oversight Committee process administered by the Oregon Board of Maritime Pilots pursuant to OAR 856-030-0040.
To view tables referenced in rule text, click here to view rule.
Statutory/Other Authority: ORS 776.11