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TransLink shaved executive compensation, other costs in 2014

TransLink decreased 2014 executive compensation by 5.2 percent compared with the previous year, officials from the British Columbia transit agency announced last week.

That and other fiscal management techniques led to more than $100 million in cost savings in 2014. (All figures are cited in Canadian dollars.)

Additionally, TransLink earned a "double-A" credit rating last year, while investor confidence enabled $130 million to be raised in the bond market, agency officials said in a press release.

"Credit-rating agencies cite TransLink’s solid track record of saving money through aggressive cost cutting and revenue efficiencies," said Cathy McLay, TransLink's chief financial officer and executive vice president of finance and corporate services. "We are exceedingly careful with the funding entrusted to us, and since 2010 we’ve kept expenditures below the rate of inflation without making cuts to overall service levels."

The agency operates the SkyTrain, which runs from downtown Vancouver to Burnaby, New Westminster and Surrey, B.C. TransLink also operates the West Coast Express commuter-rail line.

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