Transport Action BC

2010, June 14

TransLink Financial Turnaround

Filed under: Uncategorized — Rick @ 9:08 pm

TransLink’s operating budget turned in a $ 24 million surplus in the first quarter of 2010. Originally, TransLink forecast a $ 10 million deficit. The organisation credits Olympic ridership and VANOC payments for Olympic-related services, higher than forecast post-Olympics ridership, and cost cutting for the $ 34 million budget shift.

http://www.vancouversun.com/sports/TransLink%2Breports%2Bsurplus%2Bfirst%2Bquarter/3130431/story.html

At the June 15 , “2011 Transportation and Financial Base Plan” public consultation meeting, TransLink’s CEO  stated that  surpluses were unlikely to carry through the rest of the year. TransLink expects to draw down on its cumulative surplus as the year progresses.

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