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TransLink’s third-quarter report: our deficit has gone down

TransLink’s third-quarter report: our deficit has gone down

In case you’re interested, we’ve released our third-quarter results for 2009, which shows our deficit has gone down this year.

We forecast a deficit of $74 million by the end of September, owing to higher operating costs driven by service expansion in the past 5 years. But the actual deficit turned out to be $34 million.

So this means we’re on track to have a 2009 total deficit of $78 million, rather than the $103 million deficit predicted at the start of the year. (This deficit will be covered by our reserves.)

Btw, the deficit was cut due to cost containment and lower fuel prices, despite a drop in our revenues. And along with the $130 million funding supplement approved by the Mayors’ Council, this means that the current service on our road and transit network will remain financially sustainable.

Check out the press release on the third-quarter results, and see the full Q3 report here.

You can also find all 2009 quarterly reports in the Board of Directors’ Meetings and Reports section of the main website.