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Rail News: Passenger Rail
6/10/2010
Rail News: Passenger Rail
First-quarter earnings help reduce TransLink's deficit
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Vancouver’s TransLink is on track to reduce its projected 2010 deficit by more than $28.9 million based on first-quarter earnings, agency officials said in a prepared statement.
Quarterly revenue was $7.2 million higher than budgeted and operating costs fell $24.9 million below budget, according to TransLink. As a result, a predicted $9.6 million deficit in the first quarter turned into a $23.2 million operating surplus.
TransLink officials are predicting the agency’s annual deficit will decline by more than 40 percent, from $76.5 million to $44.7 million.
In addition, TransLink received a first-quarter customer service rating of 7.7 out of 10, the agency’s highest level since it began tracking satisfaction measures in 2003.
Quarterly revenue was $7.2 million higher than budgeted and operating costs fell $24.9 million below budget, according to TransLink. As a result, a predicted $9.6 million deficit in the first quarter turned into a $23.2 million operating surplus.
TransLink officials are predicting the agency’s annual deficit will decline by more than 40 percent, from $76.5 million to $44.7 million.
In addition, TransLink received a first-quarter customer service rating of 7.7 out of 10, the agency’s highest level since it began tracking satisfaction measures in 2003.
