TransLink executives reflect on 2011 at AGM

May 30, 2012

Efficiency remains focus for 2012
TransLink executives reflect on 2011 at AGM

TransLink maintained its record high customer service ratings and moved more people with no increase in funded service hours in 2011. That message was delivered today by top TransLink executives at the Authority’s Annual General Meeting.

“We have benefitted from the significant expansion that took place between 2005 and 2009,” said CEO Ian Jarvis, “and when we were no longer able to expand our fleet or add more service across the board, we re-assessed what could be done with the resources available. As a result, we were able to re-allocate 170 thousand operating hours to provide more service where and when our customers need it. Funding uncertainty continues to present a challenge, but as the region grows we must make smart transportation investments to support the economy and maintain our quality of life.”

TransLink delivered nearly 232 million rides in 2011 – 6.6 per cent more than in 2010, even with the unusual surge in usage created by the Winter Olympics. Transit revenue rose 5 per cent over 2010 and bus productivity increased by more than 3 per cent – the first increase in seven years.

“We are continuing to take action to increase our efficiency,” adds Cathy McLay, Chief Financial Officer, “and not waiting for the results of the latest audit. It is both our responsibility and financial reality to make every dollar count and get the best value for taxpayers’ money.”

Among the measures taken, 98 positions were cut across the TransLink organization (including operating companies Coast Mountain Bus Company and BC Rapid Transit Company) in 2010-2011. TransLink also reduced the amount spent on consulting, fuel and operations, so that the cost of running the Authority has risen at less than the rate of inflation.

Other TransLink efficiency achievements include:
• Reducing operating cost per passenger by 10 percent over 2010, despite rising fuel costs;
• Improving fleet maintenance practices to keep the cost of maintenance down;
• Reducing overtime by improving scheduling; and
• Cutting fuel consumption on buses in part through the “Idle-Free CMBC” policy, with fuel consumption dropping to 55.8 litres per 100 kilometres from 61.4 in 2008.

TransLink also continued its successful bond issues and has raised a total of $500 million in 2010 and 2011 with bonds for 10-year and 30-year periods, respectively. “This indicates the confidence the investment community has in the way TransLink is managed,” Ms McLay continues. “What we’ve been hearing from them is that we have a good governance model, excellent credit rating and a solid track record in managing our finances.” TransLink recently met with investors in Toronto and New York, in preparation for the next bond issue.

Through 2012, TransLink will continue to review its operations, deferring projects and re-examining priorities to get the best value out of every dollar.

Click here to see TransLink's 2011 Annual Report.