Are the terminal operators making money from the TMF?
• No. As shown in more detail below, the revenue from the TMF is not covering the added costs of operating a second shift. This has been determined through a semi-annual review of terminal costs by an independent third party analyst. Q: What are PierPASS’s administrative expenses? • Expenses of administering the program totaled $11.3 million, $9.5 million, $9.8 million and $5.2 million for the 2008, 2007, 2006 and 2005 fiscal years, respectively. • For all periods, expenses consisted of administration costs, bank and professional fees, and the OffPeak program’s computer systems and software. The OffPeak program’s computer systems and software are used to collect TMF payments and manage the notification of TMF payment status to the terminal operators.
