A balance sheet and income statement which shall reflect the actual financial condition for the person as of the last completed calendar
or fiscal year preceding the date of the proposal. The minimum required security (collateral) that must be furnished to PennDOT is, for
one secured vehicle, $50,000, and for each additional vehicle, $10,000, up to a maximum of $1,000,000. Collateral can come in the form of US
currency, US Treasury bills, US Treasury notes, escrow deposits (for the sole purpose of covering requirements for self insurance) in banks, credit
unions and savings/loans, bonds, and other security offered for review by PennDOT.