Question
1. Every day, you need to process pay for around 150 drivers to compensate them for work done the previous day. This is done through
1. Every day, you need to process pay for around 150 drivers to compensate them for work done the previous day. This is done through a process where a data engineer extracts a data export from our dispatch system, and generates a NACHA file that has to be uploaded to the bank to trigger direct deposits. Today, you discover that 75% of the transfers you scheduled yesterday had failed. Drivers have begun calling dispatch to ask where their money is. Today you also need to process pay again. What do you do?
2. The cooperative has a contract to provide trips in the Access-a-Ride program as a subcontractor to Broker A. The contract with Broker A has the following requirements:
The MTA pays Broker A a Contract Rate minus Standard Fare collected from the passenger for each completed trip.
The broker takes a 12.5% commission on the Contract Rate, and remits the rest of the money it receives to the cooperative.
The broker pays a 3% fee to the Black Car Fund to cover workers compensation costs.
The cooperative takes a 12.5% commission on the contract rate, and remits the rest of the money it receives to the driver.
If the Contract Rate is $25 and the Standard Fare is $2.75, how much will each party receive:
Broker:
The Cooperative:
Driver:
What is your formula?
3. How would you set up a system to ensure that the cooperative bills clients accurately, pays drivers, staff, and other accounts payable accurately, and allows for accurate weekly financial reporting?
4. The Cooperative has a contract with a second broker (Broker B) under these terms:
Average Contract Rate: $28
Broker commission: 15%
Standard fare: $2.75
Black Car Fund: 3%, but paid by the Cooperative
Compare these terms for Broker A in the example in question # 2. Assuming that the average Contract Rate for the example in question #2 is $26. Where should the co-op focus its resources in order to grow, if the goal is to maximize driver income and maximize profits for the cooperative?
5. What strategies could the co-op pursue to maximize driver income?
1. Every day, you need to process pay for around 150 drivers to compensate them for work done the previous day. This is done through a process where a data engineer extracts a data export from our dispatch system, and generates a NACHA file that has to be uploaded to the bank to trigger direct deposits. Today, you discover that 75% of the transfers you scheduled yesterday had failed. Drivers have begun calling dispatch to ask where their money is. Today you also need to process pay again. What do you do?
2. The cooperative has a contract to provide trips in the Access-a-Ride program as a subcontractor to Broker A. The contract with Broker A has the following requirements:
The MTA pays Broker A a Contract Rate minus Standard Fare collected from the passenger for each completed trip.
The broker takes a 12.5% commission on the Contract Rate, and remits the rest of the money it receives to the cooperative.
The broker pays a 3% fee to the Black Car Fund to cover workers compensation costs.
The cooperative takes a 12.5% commission on the contract rate, and remits the rest of the money it receives to the driver.
If the Contract Rate is $25 and the Standard Fare is $2.75, how much will each party receive:
Broker:
The Cooperative:
Driver:
What is your formula?
3. How would you set up a system to ensure that the cooperative bills clients accurately, pays drivers, staff, and other accounts payable accurately, and allows for accurate weekly financial reporting?
4. The Cooperative has a contract with a second broker (Broker B) under these terms:
Average Contract Rate: $28
Broker commission: 15%
Standard fare: $2.75
Black Car Fund: 3%, but paid by the Cooperative
Compare these terms for Broker A in the example in question # 2. Assuming that the average Contract Rate for the example in question #2 is $26. Where should the co-op focus its resources in order to grow, if the goal is to maximize driver income and maximize profits for the cooperative?
5. What strategies could the co-op pursue to maximize driver income?
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Handbook Of Asset And Liability Management Volume 2
Authors: S. A. Zenios, W. T. Ziemba
1st Edition
0444528024, 978-0444528025
