The Director calculates each pilotage association's base projected needed revenue by adding the projected adjusted operating expenses from § 404.102 of this part, the total target pilot compensation from § 404.104 of this part, and the projected working capital fund from § 404.105 of this part.
[USCG-2015-0497, 81 FR 11941, Mar. 7, 2016, as amended by USCG-2019-0736, 85 FR 20120, Apr. 9, 2020]