ANNUAL REPORT 2008/09 - BC Transit

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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
BRITISH COLUMBIA TRANSITStatement of Changes in Net AssetsYear ended March 31, 2009 ($000)Accumulated Contributed Total 2008net assets surplus 2009 (restated- note 2(n)Balance, beginning of year as restated (note 2(n)) $ 8,842 $ 67,561 $ 76,403 $ 72,630Transitional adjustment for fair value ofinvestments (note 2(m)) - - - 2,616Net revenue (expenditures) for the year (2,538) - (2,538) 1,605Unrealized gain (loss) from change in fair value of debtsinking funds (952) - (952) 125Return of contribution to the Province (note 7) - (101) (101) (573)Internal transfer 1,412 (1,412) - -Balance, end of year $ 6,764 $ 66,048 $ 72,812 $ 76,403See accompanying notes to financial statements.37BC TRANSIT 2008/09 ANNUAL REPORT5
Page 1 and 2: BC TransitANNUAL REPORT 2008/091BC
Page 3 and 4: His HonourThe Honourable Steven L.
Page 5: Message from the Chairto the Minist
Page 8 and 9: Organizational OverviewBC Transit i
Page 10 and 11: THE YEAR’SACCOMPLISHMENTS6BC TRAN
Page 12 and 13: BC Transit introduced new programs
Page 15 and 16: PERFORMANCEREPORT11BC TRANSIT 2008/
Page 17 and 18: Goals, Targets and ResultsGOAL 1Sup
Page 19 and 20: Result:Canadian Consumer Price Inde
Page 21 and 22: Progress Against Shareholder’s Le
Page 23 and 24: Performance SummaryNon-GAAP Financi
Page 25 and 26: Management Discussion and AnalysisD
Page 27 and 28: GOVERNMENT FUNDINGContribution from
Page 29 and 30: Further, the challenge in recruitin
Page 31 and 32: BC Transit - Owned and Leased Facil
Page 33 and 34: Capital ExpendituresActual 2008/09
Page 35 and 36: government entities were considered
Page 37 and 38: REPORT OF MANAGEMENTYear ended Marc
Page 39: BRITISH COLUMBIA TRANSITBalance She
Page 43 and 44: BRITISH COLUMBIA TRANSITNotes to Fi
Page 59 and 60: APPENDICES
Page 61 and 62: Appendix A2 - Performance SummaryMu
Page 63 and 64: Victoria BC(2007/08)CUTA Population
Page 65 and 66: Paratransit - Serves small town and
Page 67: Appendix A6 -Map of BC Transit Syst

ANNUAL REPORT 2008/09 - BC Transit

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