ANNUAL REPORT 2008/09 - BC Transit
ANNUAL REPORT 2008/09 - BC Transit
ANNUAL REPORT 2008/09 - BC Transit
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REVENUESPassenger and advertising revenuesUnfavourable $2,701,000 or four per cent from target••Passenger and AdvertisingVariance From Target (Un)favourable % of TotalFigures in thousands $ VarianceVictoria- ridership (168) 6%- fares (914) 34%Municipal Systems- ridership (694) 26%- fares (830) 31%Advertising (95) 4%Total Passenger and Advertising Revenue (2,701) 100%Throughout the province, <strong>BC</strong> <strong>Transit</strong> services are experiencingunprecedented demand. Ridership has increased byapproximately six per cent during <strong>2008</strong>/<strong>09</strong>. The ridershipgrowth indicates the success of improved transit service.<strong>Transit</strong> ridership has also been influenced by growing concernwith respect to the environment and the costs of driving.The Provincial <strong>Transit</strong> Plan has set aggressive ridership targetswhereby ridership will double in 15 years. The baseline yearis 2006/07. The target is for growth of 15 per cent over thenext three years. Actual ridership has trended ahead ofthat targeted in the Provincial <strong>Transit</strong> Plan through <strong>2008</strong>/<strong>09</strong>demonstrating the strong demand in transit services.Advertising revenue was 10 per cent or $95,000 below targetdue to the significant volatility and downturn in the financialmarkets and economy.Victoria passenger revenue was three per cent ($1.08 million)below target. Most of the variance is attributable to loweraverage fares per passenger as more riders are takingadvantage of prepaid passes and the elimination ofmulti-zone fares. Ridership increased over prior year bysix per cent, marginally below target.Municipal Systems passenger revenue was 5.5 per cent ($1.5million) below target. Of this, three per cent or $0.8 million isdue to lower average fares per passenger as a result of higheruse of prepaid fare media than planned while 2.5 per cent or$0.7 million is due to lower than planned ridership althoughridership increased from prior year by seven per cent.<strong>BC</strong> <strong>Transit</strong> Ridership vs PTP<strong>BC</strong> <strong>Transit</strong> Ridership vs Provincial <strong>Transit</strong> PlanPTPActualRevenue Passengers(000s)85,00080,00075,00070,00065,00060,00055,00050,00045,00040,0002006/07 2007/08 <strong>2008</strong>/<strong>09</strong> 20<strong>09</strong>/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/2122<strong>BC</strong> TRANSIT <strong>2008</strong>/<strong>09</strong> <strong>ANNUAL</strong> <strong>REPORT</strong>