JOHN, INC. AND VARLACK VENTURES, ) PSC Order No. 43/2017 — September 15, 2015
GOVERNMENT OF THE VIRGIN ISLANDS OF THE UNITED STATES PUBLIC SERVICES COMMISSION IN RE ) ) TRANSPORTATION SERVICES OF ST. ) Docket No. 640 JOHN, INC. AND VARLACK VENTURES, ) PSC Order No. 43/2017 INC. RATE INVESTIGATION ) ) ORDER WHEREAS, the Virgin Islands Public Services Commission (hereinafter “PSC” or the “Commission”) opened an investigation into the fares and services of the franchise passenger ferry operations between St. Thomas and St. John; and WHEREAS, the Franchisees, Varlack Ventures, Inc. and Transportation Services of St. John, Inc. have requested an increase in their revenues in the course of this proceeding; and WHEREAS, on September 15, 2015, the Commission appointed Attorney Jennifer Jones as Hearing Examiner to preside over the hearings for the Ferry Franchisees’ Petition for an increase in rates; and WHEREAS, on February 9, 2017, the Commission received the Final Report and Recommendations from the Hearing Examiner; and WHEREAS, on March 21, 2017, the Commission held a meeting in the Commission’s offices on both St. Thomas and St. …
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GOVERNMENT OF THE VIRGIN ISLANDS OF THE UNITED STATES PUBLIC SERVICES COMMISSION IN RE ) ) TRANSPORTATION SERVICES OF ST. ) Docket No. 640 JOHN, INC. AND VARLACK VENTURES, ) PSC Order No. 43/2017 INC. RATE INVESTIGATION ) ) ORDER WHEREAS, the Virgin Islands Public Services Commission (hereinafter “PSC” or the “Commission”) opened an investigation into the fares and services of the franchise passenger ferry operations between St. Thomas and St. John; and WHEREAS, the Franchisees, Varlack Ventures, Inc. and Transportation Services of St. John, Inc. have requested an increase in their revenues in the course of this proceeding; and WHEREAS, on September 15, 2015, the Commission appointed Attorney Jennifer Jones as Hearing Examiner to preside over the hearings for the Ferry Franchisees’ Petition for an increase in rates; and WHEREAS, on February 9, 2017, the Commission received the Final Report and Recommendations from the Hearing Examiner; and WHEREAS, on March 21, 2017, the Commission held a meeting in the Commission’s offices on both St. Thomas and St. Croix, United States Virgin Islands to consider this matter; WHEREAS, it was demonstrated that the Commission had not received the audited financial statements of the franchisees; and WHEREAS, it is the long-standing requirement of the Commission that the regulated utilities are to submit annual audited financial statements; NOW THEREFORE, the Commission finds and orders: 1. That within 115 days of the close of its fiscal year for each utility shall submit to the Commission an audited financial statement. So Ordered. For Commission Dated: May 15, 2017 Andrew Rutnik, Chair a