ANNUAL REPORT 2008/09 - BC Transit

BRITISH COLUMBIA TRANSITStatement of OperationsYear ended March 31, 2009 ($000)2009 2008(restated- note 2(n)Revenue:Operations $ 59,632 $ 55,925Investment and other income 2,859 3,38062,491 59,305Expenditures:Operations 114,438 98,031Maintenance 36,236 30,226Administration 18,752 16,600Interest on long-term debt 6,856 7,022Amortization of capital assets 21,397 18,105197,679 169,984Recoveries:Contributions from the Province of British Columbia:Operating grants 69,874 52,029Supplementary operating grant 2,000 6,097Contributions from municipalities (note 10) 53,847 47,606Amortization of deferred capital contributions - capital assets 9,743 7,237135,464 112,969Revenue from transit operations 276 2,290Other:Amortization of capital assets under lease (32,654) (32,654)Amortization of deferred capital contributions -capital assets under lease 31,242 31,242Loss on disposal of capital assets (329) (94)(Loss) gain on foreign exchange and derivatives (1,073) 821(2,814) (685)Net revenue (expenditures) for the year $ (2,538) $ 1,605See accompanying notes to financial statements.36BC TRANSIT 2008/09 ANNUAL REPORT4