ANNUAL REPORT 2008/09 - BC Transit

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, BC Transit services are experiencingunprecedented demand. Ridership has increased byapproximately six per cent during 2008/09. The ridershipgrowth indicates the success of improved transit service.Transit ridership has also been influenced by growing concernwith respect to the environment and the costs of driving.The Provincial Transit 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 Transit Plan through 2008/09demonstrating 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.BC Transit Ridership vs PTPBC Transit Ridership vs Provincial Transit PlanPTPActualRevenue Passengers(000s)85,00080,00075,00070,00065,00060,00055,00050,00045,00040,0002006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/2122BC TRANSIT 2008/09 ANNUAL REPORT