PUBLIC MEETING AGENDA - Fraseropolis · launch the public consultation on the Phase Two Plan. 4....

Public Meeti g of the Ma o s’ Cou il o Regio al T a spo tatio Page 1 of 58

AGENDA PACKAGE, April 20, 2018

PUBLIC MEETING AGENDA Version: April 13, 2018

April 20, 2018, 9:00AM to 10:15AM

TransLink, Room 427/428, 400 – Nelso ’s Cou t, Ne West i ste , BC

Chair: Mayor Derek Corrigan Vice-Chair: Mayor Richard Walton

9:00AM 1. PRELIMINARY MATTERS

1.1. Call to order

1.2. Adoption of agenda ...................................................................... Page 1

1.3. Approval of Minutes (March 23, 2018) ................................................. 2

9:05AM

2. REPORT OF THE JOINT FINANCE COMMITTEE

2.1. Public Consultation on Phase Two Investment Plan ............................. 5

9:40AM 3. REPORT OF JOINT PLANNING COMMITTEE ............................................... 43

9:50AM 4. REPORT OF TRANSLINK MANAGEMENT ................................................... 45

10:05AM 5. PUBLIC DELEGATES ................................................................................ ORAL

10:15AM 6. OTHER BUSINESS

6.1. Upcoming meetings:

Joi t Meeti g of Ma o s’ Cou il a d Boa d: May 24, 2018

June 28, 2018

10:15AM 7. ADJOURN



MEETING OF THE MAYORS’ COUNCIL ON REGIONAL TRANSPORTATION

PUBLIC MEETING MINUTES

Mi utes of the Pu li Meeti g of the Ma o s’ Cou il o Regio al T a spo tatio Ma o s’ Cou il held on Friday, March 23, 2018 at 1:30 p.m. at Metro Vancouver, 28th floor Committee Meeting Room South,

4730 Kingsway, Burnaby BC.

PRESENT:

Mayor Derek Corrigan, Burnaby, Chair

Mayor Richard Walton, North Vancouver

District, Vice-Chair

Mayor Wayne Baldwin, White Rock

Mayor John Becker, Pitt Meadows

Mayor Malcolm Brodie, Richmond

Mayor Karl Buhr, Lions Bay

Councillor Craig Cameron, West Vancouver

(Alternate)

Mayor Mike Clay, Port Moody

Mayor Ralph Drew, Belcarra (arrived 1:41 p.m.)

Mayor Jack Froese, Langley Township

Director Maria Harris, Electoral Area A

Mayor Linda Hepner, Surrey

Mayor Lois Jackson, Delta

Councillor Patrick Johnstone, New Westminster

(Alternate)

Mayor John McEwen, Anmore

Mayor Greg Moore, Port Coquitlam (arrived

1:37 p.m.)

Mayor Darrell Mussatto, North Vancouver City

Mayor Nicole Read, Maple Ridge

Mayor Gregor Robertson, Vancouver

Mayor Ted Schaffer, Langley City

Mayor Murray Skeels, Bowen Island

REGRETS:

Mayor Richard Stewart, Coquitlam Chief Bryce Williams, Tsawwassen First Nation

ALSO PRESENT:

Michael Buda, E e uti e Di e to , Ma o s’ Cou il o Regio al T a spo tatio Se eta iat

Geoff Cross, Vice President, Policy and Planning, TransLink

PREPARATION OF MINUTES:

Rae Ratslef, Recording Secretary, Raincoast Ventures Ltd.

1. Preliminary Matters

1.1 Call to Order

The Chair called the meeting to order at 1:33 p.m.

1.2 Adoption of Agenda

Draft Age da for the Mar h , 8 Pu li Meeti g of the Mayors’ Cou il o Regio al Transportation, version dated March 21, 2018, was provided with the agenda material.

It was MOVED and SECONDED

That the Ma o s’ Cou il o Regio al T a spo tatio adopts the age da fo its Pu li eeti g scheduled March 23, 2018, as circulated.

CARRIED



1.3 Approval of Minutes – February 15, 2018

Draft Minutes of the February 15, 2018 Public Meeting of the Mayors’ Cou il o Regio al Transportation, was provided with the agenda material.


That the Ma o s’ Cou il o Regio al T a spo tatio adopts the i utes of its Pu li Meeti g held February 15, 2018, as circulated.

CARRIED

Chai Co iga ought to the atte tio of the Ma o ’s Cou il, P o i e of BC O de of the Lieutenant Governor in Council, Order in Council No. 148, dated March 22, 2018, repealing

Section 34.1 of the South Coast British Columbia Transportation Act.

Mayor Moore arrived at the meeting at 1:37 p.m.

2. Report of the Joint Finance Committee

2.1 Next Steps on Phase Two Investment Plan

Prese tatio titled Mar h , 8 Meeti g of the Mayors’ Cou il as pro ided ith the agenda material.

Geoff Cross, Vice President, Policy and Planning, TransLink, referred to the distributed

presentation (also projected), and highlighted next steps on the Phase Two Plan, and plans for

related public consultation.

Mayor Drew arrived at 1:41 p.m.


That the Ma o s’ Cou il o Regio al T a spo tatio e ei es the epo t.

CARRIED

3. Other Business

3.1 Upcoming Meetings

It as oted that the e t eeti g of the Ma o s’ Cou il o Ap il , at : a. . ould launch the public consultation on the Phase Two Plan.

4. Adjourn


That the Ma o s’ Cou il o Regio al T a spo tatio Pu li Meeting held

March 23, 2018 be now terminated.

CARRIED

(Time: 1:42 p.m.)



Certified Correct:

Mayor Derek Corrigan, Chair Rae Ratslef, Recording Secretary

Raincoast Ventures Ltd.







TO: Ma o s’ Cou il o Regional Transportation

FROM: Geoff Cross, Vice President, Transportation Policy and Planning

DATE: April 13, 2018

SUBJECT: ITEM 2.1 – Proposed Phase Two Plan content for consultation

RECOMMENDATION:

That the Ma o s’ Cou il o Regio al Transportation:

A. Endorse the proposed content of the Phase Two Plan for consultation, and

B. Receive the supplementary fare increase application submitted by TransLink pursuant to

Section 223 of the South Coast British Columbia Transportation Authority Act.

PURPOSE:

This report provides a summary of the proposed content of the Phase Two Plan and planned

o sultatio a ti ities. This epo t fulfils the di e tio p o ided the Ma o s’ Cou il to T a sLi k staff on March 9, 2018 to develop a Phase Two Plan for consideration in April 2018.

BACKGROUND:

Th oughout a d , the Ma o s’ Cou il o Regio al T a spo tatio Ma o s’ Cou il a d TransLink Board of Directors (TransLink Board) have collaboratively guided the development of a draft

investment plan, the Phase Two Plan, to advance the second phase of transportation investments in the

10-Year Vision.

Befo e the Phase T o Pla a e p ese ted to the Ma o s’ Cou il fo o side atio a d app o al, the South Coast British Columbia Transportation Authority Act (SCBCTA Act) requires consultation on the

proposed content with the public in the transportation service region, local governments, and Metro

Vancouver Regional District.

DISCUSSION:

Proposed content for Phase Two Plan

The Phase Two Plan significantly expands transportation service and infrastructure in this region and

advances the implementation of the 10-Year Vision, including:

construction and operation of the Surrey-Newton-Guildford Light Rail Transit and Millennium

Line Broadway Extension

modernization of Expo-Millennium Line infrastructure, including significant upgrades to systems

and stations

project development of the Surrey-Langley Line and the Burnaby Mountain Gondola

increased bus and rail service



improvements to sidewalks and bikeways

upgrades to major roads, including seismic retrofits

To fund this service and infrastructure expansion, the Phase Two Plan includes the following new

revenue sources:

Federal funding through the Public Transit Infrastructure Fund

Provincial funding

Increase to transit fares, including increases beyond the target fare rates set in the SCBCTA Act

Increase to parking sales tax

Increase to property tax

Increase to development cost charges (DCCs)

These essential areas of interest to the public have been summarized in the Phase Two Plan Discussion

Guide. The Phase Two Plan Discussion Guide table of contents is attached to this report as Annex A.

Planned consultation activities

Should the Ma o s’ Cou il e do se the p oposed o te t of the Phase T o Pla , TransLink would

undertake the following consultation activities for the Phase Two Plan from April 30 to May 11, 2018:

Internet

o Public consultation website (tenyearvision.translink.ca)

o Public consultation survey open to all members of the public

o Research survey with a random sample of the regional population

In person

o Eight open houses for the public around the region

o Other stakeholder engagement events

Metro Vancouver Regional District

o Coo di atio ith the Chai of the Ma o s’ Cou il to o sult ith Metro Vancouver on

an increase to the TransLink borrowing limit proposed in the Phase Two Plan

o Consultation with Metro Vancouver on the proposed content of the Phase Two Plan

These planned consultation activities by TransLink are consistent with the municipal engagement and

public consultation strategy approved by the TransLink Board for the Phase Two Plan in December 2017,

as required by the SCBCTA Act.

Additional consultation requirements for fare increases

In addition to the general requirements for TransLink to consult with the public, local governments and

Metro Vancouver on its investment plans, the SCBCTA Act requires that TransLink submit an application

to the Ma o s’ Cou il he p oposi g t a sit fa es highe tha ta geted fa es Se tio . The

ta geted fa es a e defi ed i the SCBCTA Act as the transit fare rates from April 2008, increased by 2%

per year, compounded annually. The SCBCTA Act also e ui es that the Ma o s’ Cou il e su e that this application be brought to the attention of the public, including by being published on the TransLink

e site fo at least da s p io to Ma o s’ Cou il app o al Se tio .



Annex B provides more information on the proposed fare increases in the Phase Two Plan and serves as

the application to the Ma o s’ Cou il des i ed i Se tio of the SCBCTA Act. This report and

A e B ha e ee pu lished o the T a sLi k e site as pa t of the Ma o s’ Cou il age da pa kage. Should the Ma o s’ Cou il e do se the o te t of the Phase T o Pla fo o sultation, that would

constitute the beginning of the required 30-day public comment period.

NEXT STEPS:

I Ma , T a sLi k ill epo t to the T a sLi k Boa d a d the Ma o s’ Cou il o the esults of consultation on the Phase Two Plan. The input from the public, local governments, and Metro

Vancouver Regional District will be used to develop the final Phase Two Plan document for

o side atio the T a sLi k Boa d a d the Ma o s’ Cou il.

ATTACHMENTS:

Annex A – Phase Two Plan Discussion Guide table of contents

Annex B – Application to increase Phase Two Plane fares above SCBCTA Act ta geted fa es

Annex C – Section 223 of SCBCTA Act



ANNEX A



ANNEX B

Application to increase Phase Two Plan fares above SCBCTA Act targeted fares

What are targeted fares ?

The SCBCTA Act esta lishes a ta geted fa e fo e tai T a sLi k sho t te fa e p odu ts, i ludi g ash fa es a d Da Passes. P o i ial legislatio defi es the ta geted fa e fo these fa e p odu ts as the

April 2008 fare rates increased by 2% per year, compounded annually. TransLink may apply to the

Ma o s’ Cou il o Regio al T a spo tatio to i ease sho t te fa es a o e the ta geted fa e under section 223 of the South Coast British Columbia Transportation Authority Act.

In the last decade, TransLink has mai tai ed a tual t a sit fa es fa elo the ta geted fa es . To complete the regional share of funding for the first phase of transportation improvements in the 10-

Year Vision, the Phase One Plan included gradual fare increases so that some fare products would

e e tuall eet the ta geted fa es". U de the Phase O e Pla , the ea liest that a fa e p odu t ould eet ta geted fa es is .

Purpose of fare increases in the Phase Two Plan

The Government of Canada and Government of British Columbia have committed an unprecedented

amount of funding to cost-share a second phase of transportation improvements in the 10-Year Vision.

With the availability of this new federal and provincial funding, the region has a chance to improve the

transportation system at a substantially lower cost to local taxpayers.

To fully leverage the new federal and provincial contributions, the region must also provide its share of

fu di g fo the Phase T o Pla . I Ma h , the Ma o s’ Cou il app o ed a fu di g st ateg to

complete the regional share for the Phase Two Plan, including a 2% increase to transit fares. The

increase in transit fares will generate an estimated $105 million in revenue over ten years, slightly more

than 1% of the total new funding in the Phase Two Plan.

Proposed fare increases in the Phase Two Plan

The Phase Two Plan proposes transit fare increases in 2020 and 2021, in addition to the increases

al ead app o ed i the Phase O e Pla . Co siste t ith Ma o s’ Cou il di e tio , Phase T o Pla fares would be an average of 2% higher than Phase One Plan approved fares: conventional and custom

transit cash fares and Stored Value fares would increase ten to fifteen cents more than the rates in the

Phase One Plan; conventional and custom transit Monthly Passes would increase fifty cents to $1 more

than the rates in the Phase One Plan; West Coast Express fares would not increase more than the rates

in the Phase One Plan. Table 1 below summarizes the incremental fare increases proposed in the Phase

Two Plan:



Table 1. Annual incremental fare increases proposed in Phase Two Plan, compared to Phase One Plan

approved fares

Fare product 2018-19 2020 2021 2022-27

Total increase

over Phase

One Plan

fares

Conventional

transit

Adult

Cash - $0.10 $0.05 - $0.15

Stored Value* - $0.10 $0.05 - $0.15

DayPass - - $0.25 - $0.25

Monthly Pass - - $1.00 - $1.00

Concession

Cash - $0.05 $0.05 - $0.10

Stored Value* - $0.05 $0.05 - $0.10

DayPass - - $0.25 - $0.25

Monthly Pass - - $0.50 - $0.50

Custom

transit

Cash - $0.10 $0.05 - $0.15

Stored Value* - $0.10 $0.05 - $0.15

Monthly Pass - - $1.00 - $1.00

West Coast

Express All - - - - -

*Discounted rate from the cash fare product

Because the Phase Two Plan fare increases are incremental to Phase One Plan approved fares, should

the Phase T o Pla e app o ed the T a sLi k Boa d a d Ma o s’ Cou il, the so e o e tio al and custom transit short term fare products would exceed the ta geted fa es i the e t te ea s: ash fa es ould i ease te to fiftee e ts a o e ta geted fa es ; Da Passes ould i ease 5 e ts a o e ta geted fa es . West Coast E p ess sho t te fa es ould ot e eed the ta geted

fa es i the e t ten years.

At the end of this application, Table 2 outlines the difference between the proposed Phase Two Plan

short term fares and the SCBCTA Act ta geted fa es , hile Ta le outli es the p oposed fa es fo every TransLink fare product.

Considerations for affordability

TransLink has made efforts to ensure that the transit fares proposed in the Phase Two Plan remain

affordable for residents:

The proposed increases are small and gradual.

Discounted fares will continue to be available to customers who use the Compass card.

The fare increases have been timed to match the start date of transit improvements so that

customers will directly experience benefits from increased fare revenues.

Actual fare increases will continue to be reviewed and approved by the TransLink Board each year

before they are implemented.

TransLink is also developing recommendations for making the transit fare structure simple, fair, and

affordable through the Transit Fare Review. The Transit Fare Review included three phases of public

consultation in 2016 and 2017. Once the Transit Fare Review is completed, the fare rates proposed in

the Phase Two Plan will be updated to reflect any recommended improvements to the transit fare

structure.



Additional SCBCTA Act requirements

Per the SCBCTA Act, this application also includes the following documents:

Section 223 SCBCTA Act requirement Attached record

Current strategic plan and the current service,

capital and operational plans

Phase One Plan (July 2017) – Full Financial

Statements and Financial Indicators

Parameters and assumptions used in the

financial projections of the authority

2018 Business Plan – Key Drivers and Assumptions

Authority's expenditures and revenue in the

previous fiscal year

2017 Statutory Report – Consolidated Statement

of Operations

An estimate, for the current fiscal year, of the

authority's expenditures and revenue;

2018 Business Plan – Consolidated Statement of

Operations

This application will be posted on the TransLink website for 30 days for the public to provide comments,

as required by the SCBCTA Act. I Ma , T a sLi k ill epo t to the Ma o s’ Cou il o a comments from the public about the proposed fare increase, as well as the overall results of public

consultation on the Phase Two Plan.



Table 2. Difference between proposed Phase Two short term fares and SCBCTA Act targeted fares

Negati e u er gray ell i di ates the proposed fare is less tha the targeted fare ; positi e u er hite ell i di ates the proposed fare is more than

the targeted fare .

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Year that

fare

begins to

exceed

target

Short term fare produ ts su je t to SCBCTA targeted fares

Conventional

transit

Adult Cash

1-zone -$0.10 -$0.10 $0.05 $0.15 $0.15 $0.15 $0.15 $0.15 $0.15 $0.15 2020

2-zone -$0.35 -$0.40 -$0.25 -$0.20 -$0.15 -$0.10 -$0.05 -$0.05 $0.05 $0.10 2026

3-zone -$0.35 -$0.45 -$0.30 -$0.20 -$0.15 -$0.10 -$0.05 $0.00 $0.10 $0.15 2026

DayPass All zones -$0.50 -$0.50 -$0.50 $0.00 $0.00 $0.00 $0.25 $0.25 $0.25 $0.25 2024

Concession Cash

1-zone -$0.20 -$0.15 -$0.10 -$0.05 $0.00 $0.00 $0.00 $0.05 $0.05 $0.10 2025

2-zone -$0.15 -$0.10 $0.00 $0.10 $0.10 $0.10 $0.10 $0.10 $0.10 $0.10 2021

3-zone -$0.35 -$0.35 -$0.25 -$0.15 -$0.15 -$0.10 -$0.05 $0.00 $0.00 $0.05 2027

DayPass All zones -$0.50 -$0.25 -$0.25 $0.00 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 2022

Custom transit Cash All zones -$0.10 -$0.10 $0.05 $0.15 $0.15 $0.15 $0.15 $0.15 $0.15 $0.15 2020

West Coast

Express

Adult

Cash, one-way

1/2-zone -$0.35 -$0.45 -$0.40 -$0.35 -$0.30 -$0.25 -$0.20 -$0.15 -$0.05 $0.00 n/a

3-zone -$0.75 -$0.85 -$0.85 -$0.75 -$0.70 -$0.60 -$0.55 -$0.50 -$0.40 -$0.30 n/a

4-zone -$0.85 -$1.00 -$0.90 -$0.85 -$0.75 -$0.70 -$0.60 -$0.50 -$0.35 -$0.30 n/a

5-zone -$1.25 -$1.45 -$1.35 -$1.30 -$1.15 -$1.05 -$0.90 -$0.80 -$0.70 -$0.50 n/a

Cash, return

ticket

1/2-zone -$0.80 -$0.80 -$0.70 -$0.60 -$0.50 -$0.35 -$0.25 -$0.15 $0.00 $0.00 n/a

3-zone -$0.95 -$1.00 -$0.90 -$0.75 -$0.60 -$0.50 -$0.35 -$0.20 $0.00 $0.00 n/a

4-zone -$1.35 -$1.50 -$1.35 -$1.20 -$1.05 -$0.85 -$0.65 -$0.50 -$0.25 -$0.05 n/a

5-zone -$2.10 -$2.35 -$2.15 -$1.95 -$1.75 -$1.50 -$1.25 -$1.05 -$0.75 -$0.45 n/a

Concession

Cash, one-way

1/2-zone -$0.25 -$0.20 -$0.20 -$0.15 -$0.15 -$0.05 -$0.05 $0.00 $0.00 $0.00 n/a

3-zone -$0.45 -$0.45 -$0.40 -$0.40 -$0.35 -$0.30 -$0.25 -$0.25 -$0.15 -$0.10 n/a

4-zone -$0.40 -$0.45 -$0.40 -$0.35 -$0.30 -$0.25 -$0.20 -$0.15 -$0.05 $0.00 n/a

5-zone -$0.85 -$0.95 -$0.85 -$0.85 -$0.75 -$0.70 -$0.60 -$0.55 -$0.45 -$0.40 n/a

Cash, return

ticket

1/2-zone -$0.25 -$0.15 -$0.05 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 n/a

3-zone -$0.35 -$0.30 -$0.25 -$0.15 -$0.05 $0.00 $0.00 $0.00 $0.00 $0.00 n/a

4-zone -$0.70 -$0.65 -$0.55 -$0.45 -$0.35 -$0.25 -$0.10 $0.00 $0.00 $0.00 n/a

5-zone -$1.15 -$1.20 -$1.10 -$0.90 -$0.80 -$0.65 -$0.45 -$0.35 -$0.15 $0.00 n/a



Table 3. Proposed fares in Phase Two Plan, inclusive of fare increases approved in Phase One Plan

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Total

increase

2018-27

Short term fare products

Conven-

tional

transit

Adult Cash

1-zone $2.95 $3.00 $3.20 $3.35 $3.45 $3.50 $3.55 $3.65 $3.70 $3.75 $0.80

2-zone $4.20 $4.25 $4.50 $4.65 $4.80 $4.95 $5.10 $5.20 $5.40 $5.55 $1.35

3-zone $5.70 $5.75 $6.00 $6.25 $6.45 $6.60 $6.80 $7.00 $7.20 $7.40 $1.70

DayPass All zones $10.25 $10.50 $10.75 $11.50 $11.75 $12.00 $12.50 $12.75 $13.00 $13.25 $3.00

Concess-

ion

Cash

1-zone $1.90 $2.00 $2.10 $2.20 $2.30 $2.35 $2.40 $2.50 $2.55 $2.65 $0.75

2-zone $2.90 $3.00 $3.15 $3.30 $3.40 $3.45 $3.50 $3.60 $3.65 $3.70 $0.80

3-zone $3.90 $4.00 $4.15 $4.35 $4.45 $4.60 $4.75 $4.90 $5.00 $5.15 $1.25

DayPass All zones $8.00 $8.25 $8.50 $9.00 $9.25 $9.50 $9.75 $10.00 $10.25 $10.25 $2.25

Custom transit Cash All zones $2.95 $3.00 $3.20 $3.35 $3.45 $3.50 $3.55 $3.65 $3.70 $3.75 $0.80

West

Coast

Express

Adult

Cash,

one-way

1/2-zone $5.70 $5.75 $5.90 $6.10 $6.30 $6.45 $6.65 $6.85 $7.05 $7.25 $1.55

3-zone $7.45 $7.50 $7.70 $7.95 $8.20 $8.45 $8.70 $8.95 $9.20 $9.50 $2.05

4-zone $9.20 $9.25 $9.55 $9.80 $10.10 $10.40 $10.70 $11.05 $11.40 $11.70 $2.50

5-zone $12.45 $12.50 $12.90 $13.25 $13.65 $14.05 $14.50 $14.95 $15.35 $15.85 $3.40

Cash,

return

ticket

1/2-zone $10.75 $11.00 $11.35 $11.65 $12.00 $12.40 $12.75 $13.15 $13.55 $13.80 $3.05

3-zone $14.25 $14.50 $14.95 $15.40 $15.85 $16.30 $16.80 $17.30 $17.85 $18.20 $3.95

4-zone $17.50 $17.75 $18.30 $18.85 $19.40 $20.00 $20.60 $21.20 $21.85 $22.50 $5.00

5-zone $23.50 $23.75 $24.45 $25.20 $25.95 $26.75 $27.55 $28.35 $29.20 $30.10 $6.60

Concess-

ion

Cash,

one-way

1/2-zone $3.40 $3.50 $3.60 $3.70 $3.80 $3.95 $4.05 $4.20 $4.25 $4.35 $0.95

3-zone $4.40 $4.50 $4.65 $4.75 $4.90 $5.05 $5.20 $5.35 $5.55 $5.70 $1.30

4-zone $5.65 $5.75 $5.90 $6.10 $6.30 $6.45 $6.65 $6.85 $7.05 $7.25 $1.60

5-zone $7.65 $7.75 $8.00 $8.20 $8.45 $8.70 $9.00 $9.25 $9.55 $9.80 $2.15

Cash,

return

ticket

1/2-zone $6.75 $7.00 $7.20 $7.40 $7.55 $7.70 $7.85 $8.05 $8.20 $8.35 $1.60

3-zone $8.75 $9.00 $9.25 $9.55 $9.85 $10.05 $10.30 $10.50 $10.70 $10.90 $2.15

4-zone $11.00 $11.25 $11.60 $11.95 $12.30 $12.65 $13.05 $13.40 $13.70 $13.95 $2.95

5-zone $15.00 $15.25 $15.70 $16.20 $16.65 $17.15 $17.70 $18.20 $18.75 $19.30 $4.30

Discounted or non-short term fare products

Conventi

onal

transit

Adult

Stored

Value

1-zone $2.30 $2.40 $2.55 $2.70 $2.75 $2.85 $2.95 $3.00 $3.10 $3.20 $0.90

2-zone $3.35 $3.45 $3.65 $3.80 $3.90 $4.05 $4.15 $4.25 $4.40 $4.50 $1.15

3-zone $4.40 $4.50 $4.75 $4.90 $5.05 $5.20 $5.35 $5.50 $5.70 $5.85 $1.45

Monthly

Pass

1-zone $95.00 $98.00 $101.00 $105.00 $108.00 $111.00 $114.00 $116.00 $119.00 $121.00 $26.00

2-zone $128.00 $131.00 $135.00 $140.00 $144.00 $148.00 $153.00 $157.00 $161.00 $165.00 $37.00

3-zone $174.00 $177.00 $182.00 $189.00 $194.00 $200.00 $206.00 $212.00 $219.00 $225.00 $51.00

Concession

Stored

Value

1-zone $1.85 $1.95 $2.05 $2.15 $2.25 $2.25 $2.30 $2.35 $2.40 $2.45 $0.60

2-zone $2.85 $2.95 $3.05 $3.20 $3.25 $3.30 $3.35 $3.45 $3.50 $3.60 $0.75

3-zone $3.85 $3.95 $4.10 $4.30 $4.40 $4.55 $4.70 $4.75 $4.85 $4.95 $1.10

Monthly

Pass

All zones $54.00 $56.00 $58.00 $59.50 $61.50 $63.50 $65.50 $66.50 $67.50 $69.50 $15.50

Custom transit Stored

Value

All zones $2.30 $2.40 $2.55 $2.70 $2.75 $2.85 $2.95 $3.00 $3.10 $3.20 $0.90



2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Total

increase

2018-27

Monthly

Pass

All zones $95.00 $98.00 $101.00 $105.00 $108.00 $111.00 $114.00 $116.00 $119.00 $121.00 $26.00

West

Coast

Express

Adult

Stored

Value,

one-way

1/2-zone $4.80 $4.90 $5.05 $5.20 $5.35 $5.50 $5.70 $5.85 $6.05 $6.20 $1.40

3-zone $6.25 $6.35 $6.55 $6.75 $6.95 $7.15 $7.35 $7.60 $7.80 $8.05 $1.80

4-zone $7.65 $7.75 $8.00 $8.20 $8.45 $8.70 $9.00 $9.25 $9.55 $9.80 $2.15

5-zone $10.40 $10.50 $10.80 $11.15 $11.45 $11.80 $12.15 $12.55 $12.90 $13.30 $2.90

Stored

Value,

return

pass

1/2-zone $10.50 $10.75 $11.05 $11.40 $11.75 $12.10 $12.35 $12.60 $12.85 $13.15 $2.65

3-zone $13.50 $13.75 $14.15 $14.60 $15.00 $15.50 $15.95 $16.40 $16.90 $17.30 $3.80

4-zone $16.75 $17.00 $17.50 $18.05 $18.60 $19.15 $19.70 $20.30 $20.90 $21.45 $4.70

5-zone $22.50 $22.75 $23.45 $24.15 $24.85 $25.60 $26.35 $27.15 $28.00 $28.80 $6.30

Monthly

Pass

1/2-zone $155.75 $158.75 $164.00 $168.00 $173.00 $179.00 $184.00 $190.00 $195.00 $201.00 $45.25

3-zone $205.00 $208.00 $214.00 $221.00 $227.00 $234.00 $241.00 $248.00 $256.00 $263.00 $58.00

4-zone $248.00 $251.00 $259.00 $266.00 $274.00 $283.00 $291.00 $300.00 $309.00 $318.00 $70.00

5-zone $339.75 $342.75 $353.00 $364.00 $375.00 $386.00 $397.00 $409.00 $422.00 $434.00 $94.25

Concession

Stored

Value,

one-way

1/2-zone $2.80 $2.90 $3.00 $3.10 $3.15 $3.25 $3.35 $3.45 $3.55 $3.65 $0.85

3-zone $3.60 $3.70 $3.80 $3.95 $4.05 $4.15 $4.30 $4.40 $4.55 $4.70 $1.10

4-zone $4.70 $4.80 $4.95 $5.10 $5.25 $5.40 $5.55 $5.75 $5.90 $6.10 $1.40

5-zone $6.35 $6.45 $6.65 $6.85 $7.05 $7.25 $7.50 $7.70 $7.95 $8.15 $1.80

Stored

Value,

return

pass

1/2-zone $6.50 $6.75 $6.90 $7.05 $7.20 $7.35 $7.50 $7.65 $7.80 $7.95 $1.45

3-zone $8.25 $8.50 $8.75 $9.00 $9.30 $9.55 $9.75 $9.95 $10.15 $10.35 $2.10

4-zone $10.50 $10.75 $11.05 $11.40 $11.75 $12.10 $12.45 $12.75 $13.00 $13.25 $2.75

5-zone $14.25 $14.50 $14.95 $15.40 $15.85 $16.30 $16.80 $17.30 $17.85 $18.30 $4.05

Monthly

Pass

1/2-zone $95.00 $97.00 $100.00 $103.00 $106.00 $109.00 $112.00 $116.00 $119.00 $123.00 $28.00

3-zone $126.50 $128.50 $132.00 $136.00 $140.00 $145.00 $149.00 $153.00 $158.00 $163.00 $36.50

4-zone $156.25 $158.25 $163.00 $168.00 $173.00 $178.00 $183.00 $189.00 $195.00 $200.00 $43.75

5-zone $219.25 $221.25 $228.00 $235.00 $242.00 $249.00 $256.00 $264.00 $272.00 $280.00 $60.75

Note: Fares shown in table are assumed to be effective on July 1 of each year.

Page 11

Key Drivers

Ridership

Ridership journeys are used in estimating the fare revenue. They are assumed to grow by 2.6 per cent

over the forecasted 2017 year end, based on increased ridership from service expansion and economic

growth.

Households

Household projections are based on estimates from BC Stats. BC Stats provides annual household

estimates for the Metro Vancouver region. The number of households in the Metro Vancouver region is

expected to grow by 1.9 per cent in 2018 when compared to 2017. Household growth impacts both fare

revenues and taxation revenues.

Interest rates

Interest rates for the budget are based on forecasts from major Canadian chartered banks, the Ministry

of Finance, BC Budget Fiscal Plan 2017-18 to 2019-20 and TransLink credit spread and issue costs. Short-

term borrowing rates are expected to be 0.4 percentage points higher and long term borrowing rates

are expected to be 0.3 percentage points higher than 2017.

Inflation

Consumer Price Index (CPI) growth assumption for the 2018 budget is 2.0 per cent based on the BC

Ministry of Finance.

Taxable fuel consumption

Fuel consumption volumes are used to estimate fuel tax revenue. Fuel volume projections are

developed using a Provincial forecast modified for specific characteristics in the Region. Fuel volumes

are forecasted to grow by 1.0 per cent over the 2017 budget.

Hydro cost

Electricity rates increased by 3.5 per cent in April 2017 per BC Hydro and will increase by 3.0 per cent in

April 2018 for an annualized rate of 3.13 per cent in 2018. Hydro costs impact propulsion power for

SkyTrain and Trolley Buses along with facility utility costs. Rate increases take effect in April of every

year.

Gasoline and Diesel prices

Fuel prices affect operating costs for buses as well as West Coast Express Trains. Fuel prices are

estimated using US Energy Information Administration forecasts adjusted for Canadian prices, taxes and

price differentials. Diesel and natural gas volumes and rates are hedged through to the fall of 2018.

Gasoline purchases are not hedged.

Revenue Vehicle insurance

Bus fleet insurance rates are expected to increase by 12.1 per cent on April 1, 2018 based on claims

experience to date and the expected basic rate increase from ICBC.

Page 12

Assumptions

The following table highlights the financial impact of changes in key assumptions used to develop the

2018 budget:

ASSUMPTIONS

RATE / Impact

VOLUME Change ($ millions)

Revenue

Regional Fuel Consumption millions of litres 2,285 1 per cent +/- 3.9

Ridership millions of journeys 251.6 1 per cent +/- 6.1

Expense

Diesel cost dollars per litre 1.27 $0.10 +/- 3.5

Operational Diesel Use millions of litres 34.91 1 per cent +/- 0.4

Interest rate Short term 1.9% 0.5 per cent +/- 1.3

Long term 3.8% 0.5 per cent +/- 1.5

Inflation General 2.00% 0.5 per cent +/- 0.3

Materials 2.00% 0.5 per cent +/- 0.4

Electricity 3.13% 0.5 per cent +/- 0.1

Collective Agreements1

TPPA 1 per cent + 0.2

1 Unifor, MoveUP (COPE), and CUPE agreements expire either at the end of 2018 or later.

SENSITIVITIES

Page 48

Consolidated Statement of Operations

Consolidated Statement of Operations

Twelve months ending December 31 2016 2017 2018

($ thousands) ACTUAL BUDGET BUDGET

Revenue

Taxation 825,670 833,028 855,072

Transit 541,589 558,910 606,805

Golden Ears Bridge tolling 52,116 55,744 -

Government Transfers 240,533 281,904 424,078

Amortization of Deferred Concessionaire Credit 23,337 23,337 23,337

Investment Income 40,567 37,712 48,189

Miscellaneous 6,351 5,464 6,036

Gain (Loss) on Disposal 422,183 149,677 (447)

2,152,346 1,945,776 1,963,070

Expenses

Bus Division 656,542 693,091 731,703

Corporate 120,887 118,646 133,232

Rail Division 265,940 300,010 308,576

Roads & Bridges 52,453 103,244 104,256

Transit Police 33,759 36,921 38,461

Sub-total Expenses, before Amortization and Interest 1,129,581 1,251,912 1,316,228

Amortization of Capital Assets 181,663 209,286 214,436

Interest 172,705 176,301 179,267

1,483,949 1,637,499 1,709,931

Surplus for the year 668,397 308,277 253,139

Accumulated surplus, beginning of year 315,675 504,775 1,089,682

Accumulated surplus, end of year 984,072 813,052 1,342,821

2

SOUTH COAST BRITISH COLUMBIA TRANSPORTATION AUTHORITY Consolidated Statement of Operations (Expressed in thousands of dollars)

Year ended December 31, 2017, with comparative information for 2016

2017 2017 2016 Budget Actual Actual

(note 2(s))

Revenue: Taxation (note 15) $ 833,028 $ 821,333 $ 825,670 Transit (note 7(j)) 558,910 590,964 541,589 Golden Ears Bridge tolling (note 7(h)) 55,744 29,743 52,116 Government transfers (note 7(a)) 281,904 166,902 240,533 Amortization of deferred concessionaire

credit (note 9(a)) 23,337 23,274 23,337 Investment income 37,712 50,278 40,567 Miscellaneous revenue 5,464 7,009 6,351 Gain (loss) on disposal of tangible

capital assets 149,677 (1,104) 422,183 1,945,776 1,688,399 2,152,346

Expenses: Bus division 838,110 826,089 789,843 Corporate 150,100 136,460 144,870 Rail division 412,924 407,761 363,537 Roads and bridges 199,059 184,351 151,711 Transit Police 37,306 37,495 33,988

1,637,499 1,592,156 1,483,949

Surplus for the year 308,277 96,243 668,397

Accumulated surplus, beginning of year 504,775 984,072 315,675

Accumulated surplus, end of year $ 813,052 $ 1,080,315 $ 984,072

See accompanying notes to consolidated financial statements.

Update to Phase One of the 10-Year Vision2017–2026 INVESTMENT PLAN

JULY 27, 2017

tenyearvision.translink.ca

Approved by the TransLink Board of Directors – July 19, 2017

and the Mayors’ Council on Regional Transportation – July 27, 2017

81 2017–2026 INVESTMENT PLAN APPENDIX D

Ta

ble

1A

: C

on

soli

da

ted

Sta

tem

en

t o

f F

ina

nci

al

Po

siti

on

1

UP

DA

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D B

AS

E W

ITH

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ON

OM

IC A

SS

UM

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ION

S,

LAN

D,

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ER

SH

IP,

FU

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ad

j &

min

or

Mo

de

l A

dj,

28

Ca

r A

cce

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ted

(in

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f d

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Actu

al

Up

da

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Bu

dg

et

Fo

reca

st

Fo

reca

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Fo

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kO

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Fo

r th

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ea

rs e

nd

ing

31

De

c.

20

16

20

17

20

18

20

19

20

20

20

21

20

22

20

23

20

24

20

25

20

26

Fin

an

cia

l a

ss

ets

Ca

sh

an

d in

ve

stm

en

ts3

33

,35

3

35

6,3

99

34

5,5

14

34

9,7

67

35

4,7

97

36

2,5

83

38

5,6

57

40

7,1

90

43

9,2

88

48

6,1

62

57

0,4

99

Acco

un

ts r

ece

iva

ble

13

3,7

36

13

7,7

48

14

1,8

81

14

6,1

37

15

0,5

21

15

5,0

37

15

9,6

88

16

4,4

78

16

9,4

13

17

4,4

95

17

9,7

30

Lo

an

re

ce

iva

ble

3

25

,31

3

31

0,1

97

25

0,7

34

19

0,0

09

12

7,9

97

64

,67

0

-

-

-

-

-

Re

str

icte

d c

ash

an

d in

ve

stm

en

ts5

04

,29

5

55

9,7

17

62

3,1

10

61

1,8

14

63

7,1

55

71

4,9

00

85

4,6

21

94

3,4

66

1,0

41

,45

3

1,0

16

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6

1,1

13

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9

De

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po

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35

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9

32

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29

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28

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29

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3

27

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1

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9

23

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9

22

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7

11

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8

Fin

an

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tal

1,3

31

,74

6

1,3

97

,00

6

1,3

90

,97

81

,32

6,1

00

1,2

99

,54

31

,32

4,2

59

1,4

24

,52

61

,54

0,3

02

1,6

73

,52

41

,69

9,3

61

1,8

75

,49

5

Lia

bilit

ies

Acco

un

ts p

aya

ble

an

d a

ccru

ed

lia

bili

ties

(27

0,0

41

)

(27

5,4

42

)

(28

0,9

51

)

(28

6,5

70

)

(29

2,3

01

)

(29

8,1

47

)

(30

4,1

10

)

(31

0,1

92

)

(31

6,3

96

)

(32

2,7

24

)

(32

9,1

78

)

De

bt

(2,3

47

,26

6)

(2,5

68

,00

6)

(2,7

83

,10

7)

(2,9

91

,58

5)

(3,0

11

,43

3)

(3,0

41

,14

8)

(3,0

63

,95

9)

(3,1

72

,96

1)

(3,1

97

,31

4)

(3,0

87

,72

9)

(3,1

28

,98

5)

De

ferr

ed

go

ve

rnm

en

t tr

an

sfe

rs(9

41

,04

6)

(1,0

10

,96

0)

(1,0

97

,93

4)

(1,0

11

,06

1)

(90

2,2

06

)

(79

6,7

34

)

(70

2,4

23

)

(64

4,2

36

)

(61

6,7

71

)

(59

5,4

95

)

(57

7,2

74

)

Go

lde

n E

ars

Brid

ge

co

ntr

acto

r lia

bili

ty(1

,04

9,0

21

)

(1,0

44

,07

6)

(1,0

38

,89

6)

(1,0

31

,86

6)

(1,0

22

,82

0)

(1,0

11

,59

5)

(99

8,0

29

)

(98

1,9

21

)

(96

3,0

64

)

(94

1,2

59

)

(91

6,2

62

)

De

ferr

ed

co

nce

ssio

na

ire

cre

dit

(54

9,0

59

)

(52

5,7

22

)

(50

2,4

49

)

(47

9,1

75

)

(45

5,9

02

)

(43

2,5

65

)

(40

9,2

92

)

(38

6,0

18

)

(36

2,7

45

)

(33

9,4

08

)

(31

6,1

35

)

Em

plo

yee

fu

ture

be

ne

fits

(12

0,1

47

)

(13

1,5

48

)

(14

3,2

33

)

(15

6,1

31

)

(16

9,9

99

)

(18

4,2

71

)

(19

8,8

71

)

(21

3,7

50

)

(22

8,8

10

)

(24

3,6

82

)

(25

8,3

03

)

De

ferr

ed

lea

se

ind

uce

me

nts

(1

2,5

78

)

(12

,33

8)

(11

,51

1)

(10

,68

4)

(9,8

57

)

(9,0

30

)

(8,2

03

)

(7,3

76

)

(6,5

49

)

(5,7

22

)

(4,8

95

)

Lia

bilit

ies

To

tal

(5,2

89

,15

8)

(5,5

68

,09

2)

(5,8

58

,08

0)

(5,9

67

,07

3)

(5,8

64

,51

9)

(5,7

73

,48

9)

(5,6

84

,88

7)

(5,7

16

,45

5)

(5,6

91

,64

9)

(5,5

36

,02

0)

(5,5

31

,03

3)

Ne

t d

eb

t(3

,95

7,4

12

)

(4,1

71

,08

6)

(4,4

67

,10

3)

(4,6

40

,97

3)

(4,5

64

,97

6)

(4,4

49

,23

1)

(4,2

60

,36

1)

(4,1

76

,15

2)

(4,0

18

,12

5)

(3,8

36

,65

9)

(3,6

55

,53

8)

No

n-f

ina

nc

ial a

ss

ets

Ta

ng

ible

ca

pita

l asse

ts4

,86

7,9

96

5,1

31

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8

5,6

67

,81

05

,90

6,4

11

5,8

70

,54

65

,77

8,9

89

5,6

10

,55

65

,58

5,6

18

5,5

17

,46

55

,38

6,6

19

5,4

06

,88

5

Su

pp

lies in

ve

nto

ry6

1,8

31

63

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6

65

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7

67

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4

69

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1

71

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9

73

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9

76

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4

78

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6

80

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5

83

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6

Pre

pa

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1,6

57

12

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7

12

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7

12

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8

13

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0

13

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4

13

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9

14

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7

14

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7

15

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0

15

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6

No

n-F

ina

nc

ial A

ss

ets

To

tal

4,9

41

,48

4

5,2

07

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0

5,7

45

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45

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6,7

13

5,9

53

,25

75

,86

4,1

82

5,6

98

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45

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5,9

99

5,6

10

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75

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2,5

05

5,5

05

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7

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d s

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19

84

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2

1,0

36

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4

1,2

78

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1

1,3

45

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0

1,3

88

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1

1,4

14

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1

1,4

37

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3

1,4

99

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6

1,5

92

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2

1,6

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d S

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cto

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tan

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nd

do

es n

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sh

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r o

f th

e in

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in

accu

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d s

urp

lus is d

ue

to

re

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nu

e f

rom

go

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rnm

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an

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rs f

or

fun

din

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ap

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ve

stm

en

ts.

Th

e

rela

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am

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n e

xp

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se

, w

hic

h is b

ase

d o

n t

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use

ful lif

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f th

e a

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t, w

ill o

ffse

t th

is in

cre

ase

in

go

ve

rnm

en

t tr

an

sfe

rs r

eve

nu

e o

ve

r tim

e.

Appendix D: Full Financial Statements and Financial Indicators


Ta

ble

2A

: C

on

soli

da

ted

Sta

tem

en

t o

f O

pe

rati

on

s(in

th

ou

sa

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s o

f d

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Up

da

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Actu

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Up

da

ted

Bu

dg

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reca

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Fo

reca

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Fo

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Outlo

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Outlo

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Outlo

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Outlo

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Outlo

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20

16

20

17

20

18

20

19

20

20

20

21

20

22

20

23

20

24

20

25

20

26

Re

ve

nue

Ta

xa

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82

5,6

70

83

6,3

42

85

4,8

01

87

3,5

70

90

2,2

01

92

6,5

71

95

1,6

98

97

2,8

31

99

4,7

95

1,0

17

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8

1,0

41

,39

5

Fu

el

tax

39

5,7

31

38

7,8

78

38

8,4

09

38

8,9

86

38

9,5

68

39

0,1

56

39

0,7

50

39

1,3

50

39

1,9

55

39

2,5

67

39

3,1

85

Pro

pe

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24

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6

33

9,3

32

35

5,8

82

37

2,6

78

38

9,3

23

40

6,6

83

42

4,7

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44

3,6

76

46

3,3

74

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3,9

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5,3

54

Pa

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7,0

33

70

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7

71

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3

72

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5

73

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2

74

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6

75

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7

76

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4

78

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9

79

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1

80

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0

Hy

dro

le

vy

20

,45

0

20

,74

5

21

,06

7

21

,39

1

21

,70

8

22

,02

5

22

,33

1

22

,64

1

22

,94

5

23

,25

2

23

,56

4

Re

pla

cem

en

t ta

x1

7,9

61

18

,00

0

18

,00

0

18

,00

0

18

,00

0

18

,00

0

18

,00

0

18

,00

0

18

,00

0

18

,00

0

18

,00

0

De

ve

lop

me

nt

fee

-

-

-

-

10

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0

15

,00

0

20

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0

20

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0

20

,40

2

20

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6

20

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2

Tra

nsit

54

1,5

89

56

5,9

06

59

4,6

17

62

4,4

82

65

2,5

04

67

5,4

95

70

0,0

86

72

3,6

30

74

6,9

38

76

8,3

97

79

0,0

75

Go

ve

rnm

ent tr

ansfe

rs2

40

,53

3

15

9,4

68

39

0,9

54

24

4,1

21

17

4,6

27

15

7,8

76

14

6,6

21

17

2,3

18

17

5,1

04

10

9,0

72

23

4,9

08

Go

lde

n E

ars

Brid

ge

to

lling

52

,11

6

55

,74

4

57

,86

6

60

,07

2

62

,36

6

64

,75

1

67

,23

1

69

,81

0

72

,49

2

75

,28

1

78

,18

1

Inve

stm

ent in

co

me

40

,56

7

48

,28

8

48

,09

8

46

,41

1

50

,51

7

56

,55

3

59

,59

9

63

,72

3

71

,48

0

75

,63

7

78

,96

1

Am

ort

iza

tion o

f d

efe

rre

d c

once

ssio

na

ire

cre

dit

23

,33

7

23

,33

7

23

,27

3

23

,27

3

23

,27

3

23

,33

7

23

,27

3

23

,27

3

23

,27

3

23

,33

7

23

,27

3

Mis

ce

llane

ous r

eve

nue

6,3

51

5,4

64

5,3

96

5,4

79

5,3

77

5,4

01

5,5

02

5,6

04

5,6

79

5,7

85

5,8

93

Su

b T

ota

l C

on

tin

uin

g O

pe

rati

on

s R

ev

en

ue

1,7

30

,16

2

1,6

94

,54

9

1,9

75

,00

6

1,8

77

,40

8

1,8

70

,86

5

1,9

09

,98

4

1,9

54

,01

1

2,0

31

,19

0

2,0

89

,76

3

2,0

75

,14

6

2,2

52

,68

6

Ga

in o

n d

ispo

sa

l4

22

,18

3

(32

3)

-

-

-

-

-

-

-

-

-

To

tal R

ev

en

ue

(P

SA

B)

2,1

52

,34

5

1,6

94

,22

7

1,9

75

,00

6

1,8

77

,40

8

1,8

70

,86

5

1,9

09

,98

4

1,9

54

,01

1

2,0

31

,19

0

2,0

89

,76

3

2,0

75

,14

6

2,2

52

,68

6

Expe

nd

iture

s

Bus d

ivis

ion

65

6,5

40

69

1,2

90

72

1,9

24

75

2,4

36

78

6,6

07

80

8,2

28

82

9,6

90

84

9,9

16

87

0,4

57

88

9,3

64

90

8,1

75

Co

rpo

rate

7

3,2

77

10

1,1

58

98

,49

9

98

,10

4

99

,50

9

10

1,5

60

10

3,5

43

10

5,6

76

10

7,7

39

10

9,9

59

11

2,1

05

Ra

il d

ivis

ion

26

5,9

41

30

0,0

10

30

8,4

39

32

4,6

92

33

6,8

76

34

5,4

50

35

4,4

95

36

2,7

11

36

8,5

23

37

3,6

61

38

1,1

81

Ro

ad

s a

nd

brid

ge

s5

2,4

55

11

6,7

86

14

4,2

16

13

3,9

98

81

,45

8

83

,56

7

84

,90

4

87

,20

6

89

,80

5

92

,54

8

95

,05

1

Tra

nsit

Po

lice

33

,75

8

36

,92

2

37

,45

8

38

,14

7

38

,91

0

39

,68

8

40

,48

2

41

,29

2

42

,11

7

42

,96

0

43

,81

9

Am

ort

iza

tion o

f ta

ngib

le c

apita

l asse

ts*

18

1,6

63

20

0,4

42

23

2,0

48

26

5,2

07

27

8,0

02

28

5,7

51

29

3,4

70

28

9,0

45

27

7,6

15

27

1,0

69

26

7,6

86

Inte

rest*

17

2,7

05

17

6,3

67

18

7,1

27

19

6,4

22

20

6,9

62

21

6,9

95

22

3,3

60

23

3,4

41

24

0,9

22

24

0,0

97

23

9,3

31

Su

b T

ota

l C

on

tin

uin

g O

pe

rati

on

s E

xp

en

dit

ure

s1

,43

6,3

40

1,6

22

,97

5

1,7

29

,71

1

1,8

09

,00

6

1,8

28

,32

4

1,8

81

,23

9

1,9

29

,94

3

1,9

69

,28

6

1,9

97

,17

7

2,0

19

,65

8

2,0

47

,34

8

Co

rpo

rate

- o

ne

time

expe

nd

iture

s4

7,6

09

19

,29

0

2,6

58

1,3

33

-

2,0

75

1,0

75

-

-

2,0

75

1,0

75

To

tal E

xp

en

dit

ure

s (

PS

AB

)1

,48

3,9

49

1,6

42

,26

5

1,7

32

,36

9

1,8

10

,33

9

1,8

28

,32

4

1,8

83

,31

4

1,9

31

,01

8

1,9

69

,28

6

1,9

97

,17

7

2,0

21

,73

3

2,0

48

,42

3

Su

rplu

s (

De

fic

it)

for

the

pe

rio

d (

PS

AB

)6

68

,39

6

51

,96

2

24

2,6

37

67

,06

9

42

,54

1

26

,67

0

22

,99

3

61

,90

3

92

,58

5

53

,41

3

20

4,2

63

Ac

cu

mu

late

d S

urp

lus

1, b

eg

inn

ing

of

the

ye

ar

31

5,6

76

98

4,0

72

1,0

36

,03

4

1,2

78

,67

1

1,3

45

,74

0

1,3

88

,28

1

1,4

14

,95

1

1,4

37

,94

3

1,4

99

,84

6

1,5

92

,43

2

1,6

45

,84

5

Ac

cu

mu

late

d S

urp

lus

1, e

nd

of

the

ye

ar

98

4,0

72

1,0

36

,03

4

1,2

78

,67

1

1,3

45

,74

0

1,3

88

,28

1

1,4

14

,95

1

1,4

37

,94

3

1,4

99

,84

6

1,5

92

,43

2

1,6

45

,84

5

1,8

50

,10

9

1 T

he

Acc

um

ula

ted

Su

rplu

s is

de

rive

d u

nd

er

Pu

bli

c Se

cto

r A

cco

un

tin

g S

tan

da

rds

an

d d

oe

s n

ot

rep

rese

nt

cash

ava

ila

ble

. A

la

rge

dri

ve

r o

f th

e i

ncr

ea

se i

n a

ccu

mu

late

d s

urp

lus

is d

ue

to

re

ve

nu

e f

rom

go

ve

rnm

en

t tr

an

sfe

rs f

or

fun

din

g

cap

ita

l in

ve

stm

en

ts.

Th

e r

ela

ted

am

ort

iza

tio

n e

xpe

nse

, w

hic

h i

s b

ase

d o

n t

he

use

ful

life

of

the

ass

et,

wil

l o

ffse

t th

is i

ncr

ea

se i

n g

ove

rnm

en

t tr

an

sfe

rs r

eve

nu

e o

ve

r ti

me


Ta

ble

3A

: C

on

soli

da

ted

Sta

tem

en

t o

f C

ash

Flo

ws

(in

th

ou

sa

nd

s o

f d

olla

rs)

UP

DA

TE

D B

AS

E W

ITH

EC

ON

OM

IC A

SS

UM

PT

ION

S,

LAN

D,

RID

ER

SH

IP,

FU

EL

ad

j &

min

or

Mo

de

l A

dj,

28

Ca

r A

cce

lera

ted

Actu

al

Up

da

ted

Bu

dg

et

Fo

reca

st

Fo

reca

st

Fo

reca

st

Fo

reca

st

Ou

tlo

ok

Ou

tlo

ok

Ou

tlo

ok

Ou

tlo

ok

Ou

tlo

ok

Fo

r th

e y

ea

rs e

nd

ing

31

De

c.

20

16

20

17

20

18

20

19

20

20

20

21

20

22

20

23

20

24

20

25

20

26

Cash

pro

vid

ed

by (

used

fo

r):

Op

era

tin

g t

ran

sacti

on

s:

Su

rplu

s f

or

the y

ear

668,3

96

51,9

62

242,6

37

67,0

69

42,5

41

26,6

70

22,9

93

61,9

03

92,5

85

53,4

13

204,2

63

Non-c

ash c

hanges t

o o

pera

tions:

Am

ort

izatio

n o

f capita

l assets

181,6

63

200,4

42

232,0

48

265,2

07

278,0

02

285,7

51

293,4

70

289,0

45

277,6

15

271,0

69

267,6

86

Am

ort

izatio

n o

f bond is

sue c

osts

576

(3

4)

(1

00)

(2

79)

(261)

(613)

(634)

(646)

(5

77)

(7

36)

(7

86)

A

mort

izatio

n o

f debt

issue c

osts

193

-

-

-

-

-

-

-

-

-

-

Am

ort

izatio

n o

f D

efe

rred C

oncessio

naire c

redits

(23,3

37)

(23,3

37)

(23,2

73)

(2

3,2

73)

(23,2

73)

(23,3

37)

(23,2

73)

(23,2

73)

(2

3,2

73)

(2

3,3

37)

(2

3,2

73)

A

mort

izatio

n o

f defe

rred g

overn

ment

transfe

rs(1

96,9

45)

(1

40,2

41)

(3

71,7

27)

(224,8

94)

(1

55,4

00)

(1

38,6

49)

(1

27,3

94)

(1

53,0

91)

(155,8

77)

(89,8

45)

(2

15,6

81)

Govern

ment

transfe

rs r

evenue -

asset

receiv

ed

(23,2

61)

Write

-dow

n o

f capita

l assets

/defe

rred le

ase in

ducem

ents

(221)

(1

80)

(827)

(8

27)

(827)

(827)

(827)

(827)

(8

27)

(8

27)

(8

27)

G

ain

on d

isposal o

f R

eal E

sta

te(4

22,1

83)

323

-

-

-

-

-

-

-

-

-

Net

change in

contr

acto

r lia

bili

ty-

66,6

33

67,8

38

67,4

47

66,9

31

66,2

79

65,4

80

64,5

24

63,3

95

62,0

83

60,5

71

Loan R

eceiv

able

s in

tere

st

- tr

ansfe

r fr

om

restr

icte

d f

und

-

(6,8

84)

(6

,536)

(5,2

75)

(3

,988)

(2

,673)

(1

,330)

-

-

-

-

N

on

-cash

ch

an

ge

s t

o o

pe

rati

on

s(4

83,5

16)

96,7

22

(102,5

78)

78,1

05

161,1

84

185,9

31

205,4

91

175,7

32

160,4

55

218,4

07

87,6

90

Ch

an

ge

s i

n n

on

-cash

op

era

tin

g w

ork

ing

cap

ital

(338,2

98)

10,5

25

10,7

91

11,9

22

12,8

06

13,1

20

13,3

56

13,5

38

13,6

18

13,3

25

12,9

64

(153,4

17)

159,2

09

150,8

50

157,0

96

216,5

31

225,7

21

241,8

40

251,1

73

266,6

58

285,1

46

304,9

17

Cap

ital

tran

sacti

on

s:

Net

Pro

ceed/(

Purc

hase)

for

Real E

sta

te T

ransactio

ns

432,9

24

(323)

46,5

51

131,4

49

56,0

00

56,0

00

-

-

-

-

-

Purc

hase o

f capita

l assets

(exc

ludin

g M

RN

)(4

21,8

86)

(4

63,8

73)

(7

68,4

31)

(503,8

08)

(2

42,1

37)

(1

94,1

94)

(1

25,0

36)

(2

64,1

07)

(209,4

61)

(140,2

24)

(287,9

52)

11,0

38

(4

64,1

96)

(7

21,8

80)

(372,3

59)

(1

86,1

37)

(1

38,1

94)

(1

25,0

36)

(2

64,1

07)

(209,4

61)

(140,2

24)

(287,9

52)

Investi

ng

tra

nsacti

on

s:

(Incre

ase)/

decre

ase in

Self-

adm

inis

tere

d s

inki

ng f

und

-

(41,9

55)

(54,3

23)

(6

5,2

29)

(26,0

62)

(77,5

78)

(84,1

43)

(90,6

55)

(9

8,9

25)

24,1

83

(9

7,5

00)

(I

ncre

ase)/

decre

ase in

Cash r

estr

icte

d(3

,286)

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

D

ecre

ase/(

incre

ase)

in d

ebt

reserv

e f

und d

eposits

1,3

58

2,1

05

3,2

05

1,3

67

(7

00)

2,0

04

2,5

08

(6

08)

1,8

00

1,3

62

10,7

39

(1,9

28)

(2

9,8

50)

(41,1

18)

(5

3,8

62)

(16,7

62)

(65,5

73)

(71,6

35)

(81,2

63)

(8

7,1

25)

35,5

45

(7

6,7

61)

Fin

an

cin

g t

ran

sacti

on

s:

Short

-term

borr

ow

ing

120,0

00

-

-

-

-

-

-

-

-

-

-

B

onds is

sued

150,0

00

313,3

60

304,3

32

295,3

48

160,7

79

128,5

55

115,9

89

194,8

20

108,5

72

100,6

73

120,7

36

Pre

miu

m o

n f

inancin

g24,0

21

S

inki

ng F

unds M

atu

ritie

s129,5

35

138,8

00

50,0

00

-

66,2

00

80,0

00

-

65,0

00

-

280,0

00

Sin

king F

und in

tere

st

(29,9

15)

(29,8

20)

(27,9

81)

(2

4,6

46)

(24,9

81)

(27,5

13)

(26,8

43)

(25,3

31)

(2

7,6

02)

(2

6,7

17)

(2

8,9

18)

S

inki

ng F

und p

aym

ents

(63,3

41)

(53,2

66)

(44,0

12)

(3

6,3

57)

(34,7

00)

(34,7

00)

(32,6

98)

(30,2

78)

(3

0,2

78)

(2

8,3

13)

(2

8,3

13)

G

old

en E

ars

Bridge c

ontr

acto

r lia

bili

ty p

aym

ent

(Receip

t fo

r E

qu

ity)

(1,8

92)

(7

1,5

78)

(73,0

18)

(7

4,4

77)

(75,9

77)

(77,5

04)

(79,0

46)

(80,6

32)

(8

2,2

52)

(8

3,8

88)

(8

5,5

68)

G

overn

ment

transfe

rs r

eceiv

ed f

or

capita

l additi

ons

6,9

25

208,2

30

456,3

68

135,0

71

41,9

53

26,4

36

25,6

98

86,7

14

119,3

49

59,1

44

187,6

57

Short

-term

debt

repaym

ents

-

(7,0

94)

(1

4,6

72)

(2

3,0

58)

(28,3

96)

(33,3

56)

(30,2

76)

(26,7

67)

(2

2,8

93)

(2

1,5

50)

(2

1,4

63)

B

onds m

atu

red

-

(131,9

40)

(1

41,2

66)

(52,5

29)

(52,5

93)

(68,8

59)

(82,7

27)

(2,7

97)

(67,8

68)

(1

32,9

41)

(280,0

00)

Paym

ents

receiv

ed f

or

Land R

eserv

e n

et

to u

nre

str

icte

d-

457

2,7

12

4,0

26

5,3

13

6,5

73

7,8

07

-

-

-

-

205,7

98

357,8

83

601,2

63

273,3

77

(8

,602)

(1

4,1

67)

(22,0

96)

115,7

30

62,0

27

(1

33,5

93)

144,1

31

Incre

ase/(

decre

ase)

in c

ash

61,4

91

23,0

46

(10,8

85)

4,2

53

5,0

30

7,7

87

23,0

73

21,5

33

32,0

99

46,8

74

84,3

36

Cash

, b

eg

inn

ing

of

peri

od

271,8

62

333,3

53

356,3

99

345,5

14

349,7

67

354,7

97

362,5

83

385,6

57

407,1

90

439,2

88

486,1

62

Cash

, en

d o

f p

eri

od

333,3

53

356,3

99

345,5

14

349,7

67

354,7

97

362,5

83

385,6

57

407,1

90

439,2

88

486,1

62

570,4

99


Ta

ble

4A

- P

roje

cte

d B

orr

ow

ing

Co

mp

are

d t

o B

orr

ow

ing

Lim

it a

nd

Se

lec

t F

ina

nc

ial R

ati

os

(in m

illio

ns o

f dolla

rs)

Actu

al

Update

d

Budget

Fore

cast

Fore

cast

Fore

cast

Fore

cast

Outlook

Outlook

Outlook

Outlook

Outlook

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

Openin

g G

ross D

irect

Borr

ow

ing

2,8

27

3,0

40

3,2

14

3,3

63

3,5

82

3,6

62

3,6

88

3,6

90

3,8

54

3,8

72

3,8

17

A

dju

stm

ents

-

-

-

-

-

-

-

-

-

-

-

Retir

em

ents

/Oth

er

(81)

(139)

(1

56)

(76)

(8

1)

(1

03)

(114)

(30)

(9

1)

(1

55)

(302)

Short

term

borr

ow

ing

s120

-

-

-

-

-

-

-

-

-

-

B

orr

ow

ing

in Y

r -

Capita

l174

313

304

295

161

129

116

195

109

101

121

C

losin

g G

ross D

irect

Borr

ow

ing

3,0

40

3,2

14

3,3

63

3,5

82

3,6

62

3,6

88

3,6

90

3,8

54

3,8

72

3,8

17

3,6

36

Less:

Sin

kin

g f

unds

(857)

(8

53)

(8

40)

(917)

(1,0

02)

(1

,076)

(1

,140)

(1

,286)

(1

,378)

(1

,408)

(1

,283)

Less:

Debt

Reserv

e F

unds

(35)

(33)

(30)

(2

8)

(2

9)

(2

7)

(2

5)

(2

5)

(2

3)

(2

2)

(1

1)

C

losin

g N

et

Direct

Borr

ow

ing

2,1

48

2,3

29

2,4

93

2,6

37

2,6

30

2,5

85

2,5

26

2,5

43

2,4

71

2,3

87

2,3

41

D

efe

rred C

oncessio

naire c

redits

549

526

502

479

456

433

409

386

363

339

316

G

old

en E

ars

Bridg

e c

ontr

acto

r lia

bili

ty1,0

49

1,0

44

1,0

39

1,0

32

1,0

23

1,0

12

998

982

963

941

916

C

losin

g N

et

Borr

ow

ing

3,7

46

3,8

99

4,0

34

4,1

48

4,1

09

4,0

29

3,9

33

3,9

11

3,7

97

3,6

67

3,5

74

Esta

bli

sh

ed

Bo

rro

win

g L

imit

- G

ross D

irect

Deb

t3,5

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

Reco

ncil

iati

on

of

Bo

rro

win

g D

uri

ng

Year

to A

nn

ual

Cap

ital

Exp

en

dit

ure

s:

Capita

l Exp

enditu

res (

inclu

din

g M

RN

)146

652

988

605

270

222

152

292

239

170

319

Less:

Sr

Gov't

Contr

ibutio

ns

(2)

(3

32)

(5

84)

(156)

(43)

(2

6)

(2

6)

(8

7)

(1

19)

(59)

(1

88)

Less:

Oth

er

Contr

ibutio

ns

-

(6

)

(100)

(154)

(66)

(6

7)

(1

1)

(1

1)

(1

1)

(1

1)

(1

1)

N

et

Exp

enditu

res

144

313

304

295

161

129

116

195

109

101

121

Add:

Gro

ss-u

p f

or

Debt

Reserv

e F

und

-

-

-

-

-

-

-

-

-

-

-

Net

Borr

ow

ing

am

ount

for

capita

l144

313

304

295

161

129

116

195

109

101

121


Tab

le 5

A:

Cap

ital

Cash

Flo

ws -

Pro

jects

Ap

pro

ved

an

d P

rop

os

ed

UP

DA

TE

D B

AS

E W

ITH

EC

ON

OM

IC A

SS

UM

PT

ION

S,

LAN

D,

RID

ER

SH

IP,

FU

EL

ad

j &

min

or

Mo

de

l A

dj,

28

Ca

r A

cce

lera

ted

(in thousands o

f dolla

rs)

PA

TT

UL

LO

ON

LY

Actu

al

Budget

Fore

cast

Fore

cast

Fore

cast

Outlo

ok

Outlo

ok

Outlo

ok

Outlo

ok

Outlo

ok

2017-2

026

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

To

tal

CA

PIT

AL

Pro

jects

Ap

pro

ved

or

Un

de

rway

450,9

64

345,5

97

285,3

92

43,4

08

-

-

-

-

-

-

-

674,3

97

Bu

sB

us

Equip

ment

-

4,0

13

35,0

22

15,0

00

-

-

-

-

-

-

-

54,0

34

B

us

Facili

ties

-

6,7

57

14,9

80

2,6

50

1,4

00

3,8

00

2,5

55

3,1

55

2,4

50

2,8

55

2,4

51

43,0

52

B

us

Infr

astr

uctu

reE

xchange

-

27,9

06

61,2

12

24,7

91

13,2

04

-

-

-

-

-

-

127,1

13

Bus

Infr

astr

uctu

reT

OH

-

2,3

72

6,4

48

9,0

75

3,7

00

3,7

00

1,2

00

1,2

00

1,2

00

1,2

00

1,2

00

31,2

95

B

us

Infr

astr

uctu

reO

ther

-

1,5

51

1,3

16

-

12,1

27

12,7

16

18,7

32

12,1

03

12,0

90

13,0

70

16,9

09

100,6

14

Bus

Technolo

gy

Applic

atio

ns

-

500

3,7

50

4,0

00

-

-

-

-

-

-

-

8,2

50

B

us

Technolo

gy

-

1,0

79

18

-

-

-

-

-

-

-

-

1,0

97

B

us

Vehic

les

Conventio

nal B

us

Repla

ce

-

-

62,3

81

16,3

43

24,3

89

1,1

41

-

81,7

05

120,3

18

67,5

61

208,9

05

582,7

43

Bus

Vehic

les

Conventio

nal B

us

Exp

ansio

n-

4,7

97

79,7

44

59,4

48

-

-

-

-

-

-

-

143,9

89

Bus

Vehic

les

Com

munity

Shutt

leR

epla

ce

-

-

3,5

34

9,1

73

433

11,8

57

13,0

54

4,5

79

12,6

86

478

13,0

91

68,8

84

B

us

Vehic

les

Com

munity

Shutt

leE

xpansio

n-

-

3,0

60

-

-

-

-

-

-

-

-

3,0

60

B

us

Vehic

les

Custo

mR

epla

ce

-

-

5,7

30

6,2

31

6,3

67

6,4

95

6,6

24

6,7

57

6,8

92

7,0

30

9,5

01

61,6

28

B

us

Vehic

les

Custo

mE

xpansio

n-

-

2,8

51

2,2

37

-

-

-

-

-

-

-

5,0

88

B

us

Vehic

les

Seabus

Exp

ansio

n-

-

-

-

-

-

-

-

-

-

-

-

B

us

Vehic

les

Non-R

evenue

-

827

3,3

81

1,5

70

4,0

60

1,4

70

1,5

40

2,2

10

2,0

90

1,4

20

1,0

40

19,6

08

Su

bto

tal

Bu

s-

49,8

02

283,4

24

150,5

19

65,6

81

41,1

79

43,7

05

111,7

08

157,7

26

93,6

14

253,0

97

1,2

50,4

54

Rail

Rail

Equip

ment

-

14,6

84

48,0

12

14,1

63

21,8

42

16,2

85

6,6

85

-

-

-

-

121,6

71

Rail

Facili

ties

-

2,9

30

25,2

50

2,2

50

1,2

50

1,7

50

2,5

00

2,5

00

-

-

-

38,4

30

R

ail

Infr

astr

uctu

reS

tatio

ns

-

15,8

52

31,9

17

20,6

00

20,4

50

10,0

00

-

-

-

-

-

98,8

19

R

ail

Infr

astr

uctu

reW

ays

ide

-

1,7

16

17,4

34

23,6

50

6,6

97

-

-

-

-

-

-

49,4

98

R

ail

Infr

astr

uctu

reO

ther

-

47,0

27

51,0

92

41,5

00

23,3

33

21,9

80

17,7

66

16,9

54

16,3

30

27,9

30

16,3

30

280,2

42

Rail

Technolo

gy

Applic

atio

ns

-

-

3,2

40

-

-

-

-

-

-

-

-

3,2

40

O

ther

-

1,4

18

10,5

77

606

1,1

00

600

100

600

100

600

100

15,8

02

R

ail

Vehic

les

Non-R

evenue

-

-

905

500

625

-

1,7

80

765

405

-

225

5,2

05

R

ail

Vehic

les

Sky

Tra

inR

epla

ce

-

-

-

4,2

00

10,0

80

19,0

00

28,9

00

107,6

00

16,9

50

-

-

186,7

30

Rail

Vehic

les

Sky

Tra

inE

xpansio

n-

35,3

67

3,6

07

58,8

73

3,7

53

-

-

-

-

-

-

101,6

00

Rail

Vehic

les

Canada L

ine

Exp

ansio

n-

44,0

00

44,0

00

-

-

-

-

-

-

-

-

88,0

00

R

ail

Vehic

les

West

Coast

Exp

ress

Repla

ce

-

-

-

1,5

00

1,5

00

1,5

00

1,5

00

1,5

00

-

-

-

7,5

00

R

ail

Vehic

les

West

Coast

Exp

ress

Exp

ansio

n-

10,5

00

10,5

00

-

-

-

-

-

-

-

-

21,0

00

Su

bto

tal

Rail

-

173,4

95

246,5

35

167,8

42

90,6

30

71,1

15

59,2

31

129,9

19

33,7

85

28,5

30

16,6

55

1,0

17,7

38

Co

rpo

rate

Corp

orEquip

ment

-

1,1

21

3,9

30

-

-

-

-

-

-

-

-

5,0

51

C

orp

orFacili

ties

-

-

150

-

-

-

-

-

-

-

-

150

C

orp

orInfr

astr

uctu

re-

1,6

21

1,6

21

-

5,0

00

5,0

00

5,0

00

5,0

00

-

-

-

23,2

41

C

orp

orTechnolo

gy

Applic

atio

ns

-

8,4

17

6,9

93

5,5

00

4,0

00

4,0

00

-

-

-

-

-

28,9

10

C

orp

orTechnolo

gy

Infr

astr

uctu

re-

4,0

50

4,1

85

-

-

-

-

-

-

-

-

8,2

35

C

orp

orTechnolo

gy

Oth

er

-

-

7,2

00

15,4

00

15,7

00

15,9

00

16,1

00

16,2

00

16,6

00

16,8

00

17,2

00

137,1

00

Corp

orVehic

les

Non-R

evenue

-

601

250

115

115

-

-

280

350

280

-

1,9

91

Su

bto

tal

Co

rpo

rate

-

15,8

10

24,3

28

21,0

15

24,8

15

24,9

00

21,1

00

21,4

80

16,9

50

17,0

80

17,2

00

204,6

78

TL R

oads &

Bridges

TL R

oads

Infr

astr

uctu

reB

ridges

Knig

ht

Str

eet

-

-

1,0

00

5,0

00

5,0

00

-

-

-

-

-

-

11,0

00

T

L R

oads

Infr

astr

uctu

reB

ridges

Patt

ullo

-

-

1,0

00

-

-

-

-

-

-

-

-

1,0

00

T

L R

oads

Infr

astr

uctu

reB

ridges

Oth

er

-

-

2,0

00

-

-

-

-

-

-

-

-

2,0

00

T

L R

oads

Infr

astr

uctu

reB

ikeP

rogra

mT

L O

wned

-

3,2

41

5,3

87

5,6

22

1,2

50

1,0

00

1,0

00

1,0

00

1,0

00

1,0

00

1,0

00

21,5

00

T

L R

oads

Infr

astr

uctu

reW

alk

ing P

rogra

m-

-

-

-

-

-

-

-

-

-

-

-

Su

bto

tal

Ro

ad

s &

Bri

dg

es

-

3,2

41

9,3

87

10,6

22

6,2

50

1,0

00

1,0

00

1,0

00

1,0

00

1,0

00

1,0

00

35,5

00

Cap

ital

Gro

ss C

ost

450,9

64

587,9

45

849,0

66

393,4

06

187,3

76

138,1

94

125,0

36

264,1

07

209,4

61

140,2

24

287,9

52

3,1

82,7

67


Tab

le 5

A:

Cap

ital

Cash

Flo

ws -

Pro

jects

Ap

pro

ved

an

d P

rop

os

ed

UP

DA

TE

D B

AS

E W

ITH

EC

ON

OM

IC A

SS

UM

PT

ION

S,

LAN

D,

RID

ER

SH

IP,

FU

EL

ad

j &

min

or

Mo

de

l A

dj,

28

Ca

r A

cce

lera

ted

(in thousands o

f dolla

rs)

PA

TT

UL

LO

ON

LY

Actu

al

Budget

Fore

cast

Fore

cast

Fore

cast

Outlo

ok

Outlo

ok

Outlo

ok

Outlo

ok

Outlo

ok

2017-2

026

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

To

tal

CA

PIT

AL

IN

FR

AS

TR

UC

TU

RE

CO

NT

RIB

UT

ION

SP

roje

cts

Ap

pro

ved

or

Un

de

rway

28,7

80

23,1

12

14,4

59

3,6

67

-

-

-

-

-

-

-

41,2

38

Ro

ad

Netw

ork

Road NIn

frastr

uctu

reB

ICC

S-

10,0

50

18,4

50

18,4

50

1,5

50

1,5

50

1,5

50

1,5

50

1,5

50

1,5

50

1,5

50

57,8

00

R

oad NIn

frastr

uctu

reM

RN

(S

eis

mic

& U

pgra

de)

-

16,5

00

33,0

00

33,0

00

-

-

-

-

-

-

-

82,5

00

R

oad NIn

frastr

uctu

reP

avem

ent

rehab

-

14,2

82

23,1

55

25,3

64

25,1

84

25,8

48

25,7

01

26,4

77

27,5

09

28,6

43

29,4

92

251,6

56

Road NIn

frastr

uctu

reT

ransit

Rela

ted R

oad I

nfr

astr

uctu

re P

rogra

m-

-

3,0

00

-

-

-

-

-

-

-

-

3,0

00

Su

bto

tal

Ro

ad

Netw

ork

-

63,9

44

92,0

64

80,4

81

26,7

34

27,3

98

27,2

51

28,0

27

29,0

59

30,1

93

31,0

42

436,1

94

Op

era

tin

g S

ub

sid

iari

es a

nd

Co

ntr

acto

rs M

ino

r C

ap

ital

-

-

-

-

-

-

-

-

-

-

-

-

Cap

ital

Infr

astr

uctu

re C

on

trib

uti

on

s G

ross C

ost

28,7

80

63,9

44

92,0

64

80,4

81

26,7

34

27,3

98

27,2

51

28,0

27

29,0

59

30,1

93

31,0

42

436,1

94

To

tal

Cap

ital

an

d C

ap

ital

Infr

astr

uctu

re C

on

trib

uti

on

s G

ross C

ost

479,7

44

651,8

89

941,1

30

473,8

87

214,1

10

165,5

92

152,2

87

292,1

35

238,5

21

170,4

17

318,9

94

3,6

18,9

61

60,8

16

124,0

72

80,6

35

(110,4

02)

(54,7

61)

(5

6,0

00)

-

-

-

-

-

-1

6456.5

038

Part

ners

hip

Fu

nd

ing

(59,3

84)

(1

22,6

40)

23,2

47.7

9

216,9

61

84,8

46

61,7

29

1,1

19

265263.5

038

Federa

lB

uild

Canada F

und

(9,2

24)

(9,1

36)

-

-

-

-

-

-

-

-

-

(9,1

36)

F

edera

lP

TIF

-

(1

46,4

61)

(1

89,7

73)

(31,8

90)

(1

,877)

0

-

-

-

-

-

(370,0

00)

R

egio

nal

Federa

l Gas T

ax

(133,3

44)

(61,7

69)

(266,5

95)

(103,1

81)

(40,0

76)

(2

6,4

36)

(2

5,6

98)

(8

6,7

14)

(1

19,3

49)

(59,1

44)

(1

87,6

57)

(976,6

20)

P

rovin

cia

lE

xcl P

TIF

(23,2

61)

(1

8,2

72)

-

-

-

-

-

-

-

-

-

(1

8,2

72)

Pro

vin

cia

lP

TIF

-

(9

6,6

64)

(127,1

86)

(21,0

47)

(1

,239)

-

-

-

-

-

-

(246,1

36)

O

ther

(902)

(1

1,1

13)

(10,9

36)

(1

0,6

09)

(1

0,6

00)

(1

0,6

00)

(1

0,6

00)

(1

0,6

00)

(1

0,6

00)

(1

0,6

00)

(1

0,6

00)

(1

06,8

58)

T

ota

l P

art

ners

hip

Fu

nd

ing

(166,7

31)

(343,4

15)

(5

94,4

91)

(166,7

27)

(53,7

91)

(3

7,0

36)

(3

6,2

98)

(9

7,3

14)

(1

29,9

49)

(69,7

44)

(1

98,2

57)

(1,7

27,0

22)

To

tal

Net

Co

st

313,0

13

308,4

75

346,6

39

307,1

60

160,3

18

128,5

55

115,9

89

194,8

20

108,5

72

100,6

73

120,7

36

1,8

91,9

39


Tab

le 6

A-

Tra

nsit

Serv

ice L

evels

Fin

al P

hase 1

In

vestm

en

t P

lan

Actu

al

Up

da

ted

Bu

dg

et

Co

nve

nti

on

al T

ran

sit

20

16

20

17

20

18

20

19

20

20

20

21

20

22

20

23

20

24

20

25

20

26

(th

ou

sa

nd

s o

f se

rvic

e h

ou

rs)

Co

nve

ntio

na

l B

us

4,2

50

4,3

78

4,5

08

4,5

99

4,7

15

4,7

15

4,7

15

4,7

15

4,7

15

4,7

15

4,7

15

Co

mm

un

ity

Sh

uttle

59

06

18

64

56

45

64

56

45

64

56

45

64

56

45

64

5

We

st V

an

co

uve

r C

on

ve

ntio

na

l B

us

13

21

39

14

21

42

14

21

42

14

21

42

14

21

42

14

2

SkyT

rain

Exp

o a

nd

Mill

en

niu

m L

ine

s1

,12

91

,33

61

,37

31

,43

71

,47

31

,47

31

,47

31

,47

31

,47

31

,47

31

,47

3

SkyT

rain

Ca

na

da

Lin

e1

96

20

42

10

22

42

46

26

02

75

28

62

89

28

92

89

Se

aB

us

11

12

12

13

14

14

14

14

14

14

14

We

st C

oa

st E

xpre

ss

40

38

38

40

42

42

42

42

42

42

42

To

tal C

on

ve

nti

on

al T

ran

sit

6,3

49

6,7

24

6,9

29

7,1

01

7,2

78

7,2

92

7,3

07

7,3

17

7,3

21

7,3

21

7,3

21

Actu

al

Up

da

ted

Bu

dg

et

Cu

sto

m T

ran

sit

Tri

ps

20

16

20

17

20

18

20

19

20

20

20

21

20

22

20

23

20

24

20

25

20

26

(th

ou

sa

nd

s o

f tr

ips)

Ha

nd

yDA

RT

1,0

95

1,1

85

1,2

33

1,2

71

1,2

71

1,2

71

1,2

71

1,2

71

1,2

71

1,2

71

1,2

71

Ta

xi S

up

ple

me

nt

13

21

02

10

21

02

10

21

02

10

21

02

10

21

02

10

2

To

tal C

usto

m T

rip

s1

,22

71

,28

71

,33

51

,37

31

,37

31

,37

31

,37

31

,37

31

,37

31

,37

31

,37

3


Ta

ble

7A

- T

ran

sL

ink

Fin

an

cia

l P

olicie

s &

In

dic

ato

rsU

PD

AT

ED

BA

SE

WIT

H E

CO

NO

MIC

AS

SU

MP

TIO

NS

, L

AN

D,

RID

ER

SH

IP,

FU

EL

ad

j &

min

or

Mo

de

l A

dj, 2

8 C

ar

Ac

(in

mill

ion

s o

f d

olla

rs)

Actu

al

Up

da

ted

Bu

dg

et

for

the

ye

ars

en

din

g 3

1 D

ece

mb

er

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

Clo

sin

g G

ross D

ire

ct

Bo

rro

win

g (

<$

4.0

Bn

)3

,04

03

,21

43

,36

33

,58

23

,66

23

,68

83

,69

03

,85

43

,87

23

,81

73

,63

6

Ne

t D

eb

t (C

losin

g N

et

Bo

rro

win

g)1

3,7

46

3,8

99

4,0

34

4,1

48

4,1

09

4,0

29

3,9

33

3,9

11

3,7

97

3,6

67

3,5

74

Ne

t D

eb

t /

Op

era

tin

g R

eve

nu

es <

30

0%

259%

263%

263%

262%

250%

238%

226%

218%

206%

194%

185%

Gro

ss I

nte

rest

/ O

pe

ratin

g R

eve

nu

es <

20

%12%

12%

12%

12%

13%

13%

13%

13%

13%

13%

12%

Ne

t D

eb

t p

er

ca

pita

4 <

$2

,00

01

,47

41

,51

21

,54

21

,56

41

,52

71

,47

71

,42

21

,39

51

,33

61

,27

41

,22

6

Accu

mu

late

d F

un

din

g R

eso

urc

es (

AF

R)2

333

356

346

350

355

363

386

407

439

486

570

AF

R a

s a

pe

rce

nta

ge

of

To

tal F

un

din

g R

eq

uire

me

nts

324%

24%

23%

22%

21%

21%

22%

23%

24%

26%

30%

1

Inclu

de

s T

ransL

ink's

Dire

ct

De

bt,

net

of

sin

kin

g f

und

s a

nd

deb

t re

serv

e d

ep

osits

2:

AF

R =

Un

restr

icte

d C

ash &

In

vestm

ents

3:

Fu

nd

ing R

equ

ire

me

nts

= T

ota

l E

xp

en

ses (

exclu

din

g D

epre

cia

tio

n a

nd

Ca

pita

l fu

nd

ing t

o M

unic

ipalit

ies)

+ D

ebt

Se

rvic

e c

osts

4:

Inclu

de

s a

ll D

ire

ct

and

In

dire

ct

De

bt

with

la

test

mo

de

l a

dju

stm

en

ts -

Ma

y 2

6 2

01

7


Ta

ble

1B

: C

on

soli

da

ted

Sta

tem

en

t o

f F

ina

nci

al

Po

siti

on

(N

o D

ev

elo

pm

en

t F

ee

)(in

th

ou

sa

nd

s o

f d

olla

rs)

Actu

als

Fo

r th

e y

ea

rs e

nd

ing

31

De

c.

20

16

20

17

20

18

20

19

20

20

20

21

20

22

20

23

20

24

20

25

20

26

Fin

an

cia

l a

ss

ets

Ca

sh

an

d in

ve

stm

en

ts3

33

,35

3

35

6,3

99

34

5,5

14

35

2,8

30

35

9,5

15

36

3,7

79

37

9,5

83

39

4,0

89

41

9,3

19

45

9,4

92

53

7,3

92

Acco

un

ts r

ece

iva

ble

13

3,7

36

13

7,7

48

14

1,8

81

14

6,1

37

15

0,5

21

15

5,0

37

15

9,6

88

16

4,4

78

16

9,4

13

17

4,4

95

17

9,7

30

Lo

an

re

ce

iva

ble

3

25

,31

3

31

0,1

97

25

0,7

34

19

0,0

09

12

7,9

97

64

,67

0

-

-

-

-

-

Re

str

icte

d c

ash

an

d in

ve

stm

en

ts5

04

,29

5

55

9,7

17

62

3,1

10

61

1,8

14

63

7,1

47

71

4,8

68

85

4,5

40

94

3,2

98

1,0

41

,15

4

1,0

16

,20

7

1,1

13

,24

8

De

bt re

se

rve

de

po

sits

35

,04

9

32

,94

4

29

,74

0

28

,37

3

29

,07

3

27

,06

9

24

,56

1

25

,16

9

23

,36

9

22

,00

7

11

,26

8

Fin

an

cia

l A

ss

ets

To

tal

1,3

31

,74

6

1,3

97

,00

6

1,3

90

,97

81

,32

9,1

62

1,3

04

,25

31

,32

5,4

23

1,4

18

,37

11

,52

7,0

35

1,6

53

,25

51

,67

2,2

01

1,8

41

,63

7

Lia

bilit

ies

Acco

un

ts p

aya

ble

an

d a

ccru

ed

lia

bili

ties

(27

0,0

41

)

(27

5,4

42

)

(28

0,9

51

)

(28

6,5

70

)

(29

2,3

01

)

(29

8,1

47

)

(30

4,1

10

)

(31

0,1

92

)

(31

6,3

96

)

(32

2,7

24

)

(32

9,1

78

)

De

bt

(2,3

47

,26

6)

(2,5

68

,00

6)

(2,7

83

,10

7)

(2,9

91

,35

2)

(3,0

10

,72

3)

(3,0

39

,70

4)

(3,0

61

,51

3)

(3,1

69

,22

9)

(3,1

92

,00

2)

(3,0

80

,52

6)

(3,1

19

,56

7)

De

ferr

ed

go

ve

rnm

en

t tr

an

sfe

rs(9

41

,04

6)

(1,0

10

,96

0)

(1,0

97

,93

4)

(1,0

11

,06

1)

(90

2,2

06

)

(79

6,7

34

)

(70

2,4

23

)

(64

4,2

36

)

(61

6,7

71

)

(59

5,4

95

)

(57

7,2

74

)

Go

lde

n E

ars

Brid

ge

co

ntr

acto

r lia

bili

ty(1

,04

9,0

21

)

(1,0

44

,07

6)

(1,0

38

,89

6)

(1,0

31

,86

6)

(1,0

22

,82

0)

(1,0

11

,59

5)

(99

8,0

29

)

(98

1,9

21

)

(96

3,0

64

)

(94

1,2

59

)

(91

6,2

62

)

De

ferr

ed

co

nce

ssio

na

ire

cre

dit

(54

9,0

59

)

(52

5,7

22

)

(50

2,4

49

)

(47

9,1

75

)

(45

5,9

02

)

(43

2,5

65

)

(40

9,2

92

)

(38

6,0

18

)

(36

2,7

45

)

(33

9,4

08

)

(31

6,1

35

)

Em

plo

yee

fu

ture

be

ne

fits

(12

0,1

47

)

(13

1,5

48

)

(14

3,2

33

)

(15

6,1

31

)

(16

9,9

99

)

(18

4,2

71

)

(19

8,8

71

)

(21

3,7

50

)

(22

8,8

10

)

(24

3,6

82

)

(25

8,3

03

)

De

ferr

ed

lea

se

ind

uce

me

nts

(1

2,5

78

)

(12

,33

8)

(11

,51

1)

(10

,68

4)

(9,8

57

)

(9,0

30

)

(8,2

03

)

(7,3

76

)

(6,5

49

)

(5,7

22

)

(4,8

95

)

Lia

bilit

ies

To

tal

(5,2

89

,15

8)

(5,5

68

,09

2)

(5,8

58

,08

0)

(5,9

66

,84

0)

(5,8

63

,80

9)

(5,7

72

,04

6)

(5,6

82

,44

1)

(5,7

12

,72

3)

(5,6

86

,33

6)

(5,5

28

,81

7)

(5,5

21

,61

5)

Ne

t d

eb

t(3

,95

7,4

12

)

(4,1

71

,08

6)

(4,4

67

,10

3)

(4,6

37

,67

7)

(4,5

59

,55

6)

(4,4

46

,62

3)

(4,2

64

,06

9)

(4,1

85

,68

9)

(4,0

33

,08

1)

(3,8

56

,61

6)

(3,6

79

,97

8)

No

n-f

ina

nc

ial a

ss

ets

Ta

ng

ible

ca

pita

l asse

ts4

,86

7,9

96

5,1

31

,42

8

5,6

67

,81

05

,90

6,4

11

5,8

70

,54

65

,77

8,9

89

5,6

10

,55

65

,58

5,6

18

5,5

17

,46

55

,38

6,6

19

5,4

06

,88

5

Su

pp

lies in

ve

nto

ry6

1,8

31

63

,68

6

65

,59

7

67

,56

4

69

,59

1

71

,67

9

73

,82

9

76

,04

4

78

,32

6

80

,67

5

83

,09

6

Pre

pa

id e

xpe

nse

s1

1,6

57

12

,00

7

12

,36

7

12

,73

8

13

,12

0

13

,51

4

13

,91

9

14

,33

7

14

,76

7

15

,21

0

15

,66

6

No

n-F

ina

nc

ial A

ss

ets

To

tal

4,9

41

,48

4

5,2

07

,12

0

5,7

45

,77

45

,98

6,7

13

5,9

53

,25

75

,86

4,1

82

5,6

98

,30

45

,67

5,9

99

5,6

10

,55

75

,48

2,5

05

5,5

05

,64

7

Ac

cu

mu

late

d s

urp

lus

19

84

,07

2

1,0

36

,03

4

1,2

78

,67

1

1,3

49

,03

6

1,3

93

,70

2

1,4

17

,55

8

1,4

34

,23

5

1,4

90

,31

0

1,5

77

,47

6

1,6

25

,88

9

1,8

25

,66

9

1 T

he

Accu

mu

late

d S

urp

lus is d

erive

d u

nd

er

Pu

blic

Se

cto

r A

cco

un

tin

g S

tan

da

rds a

nd

do

es n

ot

rep

rese

nt

ca

sh

ava

ilab

le.

A la

rge

drive

r o

f th

e in

cre

ase

in

accu

mu

late

d s

urp

lus is d

ue

to

re

ve

nu

e f

rom

go

ve

rnm

en

t tr

an

sfe

rs f

or

fun

din

g

ca

pita

l in

ve

stm

en

ts.

Th

e r

ela

ted

am

ort

iza

tio

n e

xp

en

se

, w

hic

h is b

ase

d o

n t

he

use

ful lif

e o

f th

e a

sse

t, w

ill o

ffse

t th

is in

cre

ase

in

go

ve

rnm

en

t tr

an

sfe

rs r

eve

nu

e o

ve

r tim

e.


Ta

ble

2B

: C

on

soli

da

ted

Sta

tem

en

t o

f O

pe

rati

on

s (N

o D

ev

elo

pm

en

t F

ee

)(in tho

usa

nd

s o

f do

llars

)U

pd

ate

d

Actu

al

Fore

ca

st

Fore

ca

st

Fore

ca

st

Outlo

ok

Outlo

ok

Outlo

ok

20

16

20

17

20

18

20

19

20

20

20

21

20

22

20

23

20

24

20

25

20

26

Revenue

Taxa

tion

82

5,6

70

83

6,3

42

85

4,8

01

87

3,5

70

89

2,2

01

91

1,5

71

93

1,6

98

95

2,6

31

97

4,3

93

99

7,0

32

1,0

20,5

83

Fu

el

tax

39

5,7

31

38

7,8

78

38

8,4

09

38

8,9

86

38

9,5

68

39

0,1

56

39

0,7

50

39

1,3

50

39

1,9

55

39

2,5

67

39

3,1

85

Pro

pe

rty

ta

x32

4,4

96

33

9,3

32

35

5,8

82

37

2,6

78

38

9,3

23

40

6,6

83

42

4,7

90

44

3,6

76

46

3,3

74

48

3,9

22

50

5,3

54

Pa

rkin

g s

ale

s ta

x67

,03

3

70

,38

7

71

,44

3

72

,51

5

73

,60

2

74

,70

6

75

,82

7

76

,96

4

78

,11

9

79

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1

80

,48

0

Hy

dro

le

vy

20

,45

0

20

,74

5

21

,06

7

21

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1

21

,70

8

22

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5

22

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1

22

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1

22

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5

23

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2

23

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4

Re

pla

cem

en

t ta

x17

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1

18

,00

0

18

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0

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,00

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18

,00

0

18

,00

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18

,00

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18

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0

18

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0

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0

De

ve

lop

me

nt

fee

-

-

-

-

-

-

-

-

-

-

-

Tra

nsit

54

1,5

89

56

5,9

06

59

4,6

17

62

0,9

41

64

7,1

46

66

9,0

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69

2,0

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71

3,8

66

73

6,4

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75

7,5

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77

8,8

37

Fare

s52

2,2

85

54

5,5

54

57

3,8

66

59

9,7

83

62

5,5

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64

7,1

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66

9,6

18

69

0,9

97

71

3,1

51

73

3,7

75

75

4,5

93

Oth

er

tran

sit

19

,30

4

20

,35

2

20

,75

1

21

,15

8

21

,57

3

21

,99

8

22

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9

22

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9

23

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9

23

,77

7

24

,24

4

Govern

ment tr

ansfe

rs24

0,5

33

15

9,4

68

39

0,9

54

24

4,1

21

17

4,6

27

15

7,8

76

14

6,6

21

17

2,3

18

17

5,1

04

10

9,0

72

23

4,9

08

Gold

en E

ars

Bridge tolli

ng

52

,11

6

55

,74

4

57

,86

6

60

,07

2

62

,36

6

64

,75

1

67

,23

1

69

,81

0

72

,49

2

75

,28

1

78

,18

1

Investm

ent in

com

e40

,56

7

48

,28

8

48

,09

8

46

,43

3

50

,60

5

56

,64

8

59

,51

4

63

,36

7

70

,82

5

74

,71

0

77

,76

9

Am

ort

izatio

n o

f de

ferr

ed

concessio

naire c

red

it23

,33

7

23

,33

7

23

,27

3

23

,27

3

23

,27

3

23

,33

7

23

,27

3

23

,27

3

23

,27

3

23

,33

7

23

,27

3

Mis

cella

neo

us r

evenue

6,3

51

5,4

64

5,3

96

5,4

79

5,3

77

5,4

01

5,5

02

5,6

04

5,6

79

5,7

85

5,8

93

Su

b T

ota

l C

on

tin

uin

g O

pera

tio

ns R

ev

en

ue

1,7

30,1

62

1,6

94,5

49

1,9

75,0

06

1,8

73,8

90

1,8

55,5

96

1,8

88,6

84

1,9

25,8

86

2,0

00,8

69

2,0

58,2

37

2,0

42,7

69

2,2

19,4

45

Gain

on d

isposa

l42

2,1

83

(32

3)

-

-

-

-

-

-

-

-

-

To

tal R

ev

en

ue (

PS

AB

)2,1

52,3

45

1,6

94,2

27

1,9

75,0

06

1,8

73,8

90

1,8

55,5

96

1,8

88,6

84

1,9

25,8

86

2,0

00,8

69

2,0

58,2

37

2,0

42,7

69

2,2

19,4

45

Expenditu

res

Bus d

ivis

ion

65

6,5

40

69

1,2

90

72

1,9

24

74

7,1

48

77

4,5

21

79

5,7

81

81

6,8

87

83

6,7

84

85

6,9

90

87

5,5

99

89

4,1

15

Corp

ora

te

73

,27

7

10

1,1

58

98

,49

9

98

,10

4

97

,38

7

99

,39

5

10

1,3

34

10

3,4

24

10

5,4

41

10

7,6

15

10

9,7

15

Rail

div

isio

n26

5,9

41

30

0,0

10

30

8,4

39

32

3,7

30

33

4,9

10

34

3,4

41

35

0,2

61

35

6,9

13

36

2,2

93

36

7,3

61

37

4,7

52

Roa

ds a

nd b

ridges

52

,45

5

11

6,7

86

14

4,2

16

13

3,4

40

80

,26

0

81

,75

2

82

,44

2

84

,06

5

85

,95

3

87

,95

2

89

,67

5

Tra

nsit

Polic

e33

,75

8

36

,92

2

37

,45

8

38

,14

7

38

,91

0

39

,68

8

40

,48

2

41

,29

2

42

,11

7

42

,96

0

43

,81

9

Am

ort

izatio

n o

f ta

ngib

le c

apita

l asse

ts*

18

1,6

63

20

0,4

42

23

2,0

48

26

5,2

07

27

8,0

02

28

5,7

51

29

3,4

70

28

9,0

45

27

7,6

15

27

1,0

69

26

7,6

86

Inte

rest*

17

2,7

05

17

6,3

67

18

7,1

27

19

6,4

17

20

6,9

41

21

6,9

43

22

3,2

58

23

3,2

71

24

0,6

62

23

9,7

26

23

8,8

28

Su

b T

ota

l C

on

tin

uin

g O

pera

tio

ns E

xp

en

dit

ure

s1,4

36,3

40

1,6

22,9

75

1,7

29,7

11

1,8

02,1

93

1,8

10,9

30

1,8

62,7

52

1,9

08,1

34

1,9

44,7

94

1,9

71,0

71

1,9

92,2

82

2,0

18,5

89

Corp

ora

te -

onetim

e e

xpenditu

res

47

,60

9

19

,29

0

2,6

58

1,3

33

-

2,0

75

1,0

75

-

-

2,0

75

1,0

75

To

tal E

xp

en

dit

ure

s (

PS

AB

)1,4

83,9

49

1,6

42,2

65

1,7

32,3

69

1,8

03,5

26

1,8

10,9

30

1,8

64,8

27

1,9

09,2

09

1,9

44,7

94

1,9

71,0

71

1,9

94,3

57

2,0

19,6

64

Su

rplu

s (

Defi

cit

) fo

r th

e p

eri

od

(P

SA

B)

66

8,3

96

51

,96

2

24

2,6

37

70

,36

5

44

,66

6

23

,85

7

16

,67

6

56

,07

6

87

,16

6

48

,41

3

19

9,7

80

Acc

um

ula

ted

Su

rplu

s1, b

eg

inn

ing

of

the y

ear

31

5,6

76

98

4,0

72

1,0

36,0

34

1,2

78,6

71

1,3

49,0

36

1,3

93,7

02

1,4

17,5

58

1,4

34,2

35

1,4

90,3

10

1,5

77,4

76

1,6

25,8

89

Acc

um

ula

ted

Su

rplu

s1, en

d o

f th

e y

ear

98

4,0

72

1,0

36,0

34

1,2

78,6

71

1,3

49,0

36

1,3

93,7

02

1,4

17,5

58

1,4

34,2

35

1,4

90,3

10

1,5

77,4

76

1,6

25,8

89

1,8

25,6

69

1 T

he

Acc

um

ula

ted

Su

rplu

s is

de

rive

d u

nd

er

Pu

bli

c S

ect

or

Acc

ou

nti

ng

Sta

nd

ard

s a

nd

do

es

no

t re

pre

sen

t ca

sh a

va

ila

ble

. A

la

rge

dri

ve

r o

f th

e i

ncr

ea

se i

n a

ccu

mu

late

d s

urp

lus

is d

ue

to

re

ve

nu

e f

rom

go

ve

rnm

en

t tr

an

sfe

rs f

or

fun

din

g

cap

ita

l in

ve

stm

en

ts.

Th

e r

ela

ted

am

ort

iza

tio

n e

xp

en

se,

wh

ich

is

ba

sed

on

th

e u

sefu

l li

fe o

f th

e a

sse

t, w

ill

off

set

this

in

cre

ase

in

go

ve

rnm

en

t tr

an

sfe

rs r

eve

nu

e o

ve

r ti

me


Ta

ble

3B

: C

on

soli

da

ted

Sta

tem

en

t o

f C

ash

Flo

ws

(No

De

ve

lop

me

nt

Fe

e)

(in

th

ou

sa

nd

s o

f d

olla

rs)

UP

DA

TE

D B

AS

E W

ITH

EC

ON

OM

IC A

SS

UM

PT

ION

S,

LAN

D,

RID

ER

SH

IP,

FU

EL

ad

j &

min

or

Mo

de

l A

dj,

28

Ca

r A

cce

lera

ted

Actu

al

Fo

reca

st

Fo

reca

st

Fo

reca

st

Fo

reca

st

Ou

tlo

ok

Ou

tlo

ok

Ou

tlo

ok

Ou

tlo

ok

Ou

tlo

ok

Fo

r th

e y

ea

rs e

nd

ing

31

De

c.

20

16

20

17

20

18

20

19

20

20

20

21

20

22

20

23

20

24

20

25

20

26

Cash

pro

vid

ed

by (

used

fo

r):

Op

era

tin

g t

ran

sacti

on

s:

Su

rplu

s f

or

the y

ear

668,3

96

51,9

62

242,6

37

70,3

65

44,6

66

23,8

57

16,6

76

56,0

76

87,1

66

48,4

13

199,7

80

Non-c

ash c

hanges t

o o

pera

tions:

Am

ort

izatio

n o

f capita

l assets

181,6

63

200,4

42

232,0

48

265,2

07

278,0

02

285,7

51

293,4

70

289,0

45

277,6

15

271,0

69

267,6

86

Am

ort

izatio

n o

f bond is

sue c

osts

576

(3

4)

(1

00)

(2

79)

(261)

(613)

(634)

(646)

(5

77)

(7

36)

(7

86)

A

mort

izatio

n o

f debt

issue c

osts

193

-

-

-

-

-

-

-

-

-

-

Am

ort

izatio

n o

f D

efe

rred C

oncessio

naire c

redits

(23,3

37)

(23,3

37)

(23,2

73)

(2

3,2

73)

(23,2

73)

(23,3

37)

(23,2

73)

(23,2

73)

(2

3,2

73)

(2

3,3

37)

(2

3,2

73)

A

mort

izatio

n o

f defe

rred g

overn

ment

transfe

rs(1

96,9

45)

(1

40,2

41)

(3

71,7

27)

(224,8

94)

(1

55,4

00)

(1

38,6

49)

(1

27,3

94)

(1

53,0

91)

(155,8

77)

(89,8

45)

(2

15,6

81)

Govern

ment

transfe

rs r

evenue -

asset

receiv

ed

(23,2

61)

Write

-dow

n o

f capita

l assets

/defe

rred le

ase in

ducem

ents

(221)

(1

80)

(827)

(8

27)

(827)

(827)

(827)

(827)

(8

27)

(8

27)

(8

27)

G

ain

on d

isposal o

f R

eal E

sta

te(4

22,1

83)

323

-

-

-

-

-

-

-

-

-

Net

change in

contr

acto

r lia

bili

ty-

66,6

33

67,8

38

67,4

47

66,9

31

66,2

79

65,4

80

64,5

24

63,3

95

62,0

83

60,5

71

Loan R

eceiv

able

s in

tere

st

- tr

ansfe

r fr

om

restr

icte

d f

und

-

(6,8

84)

(6

,536)

(5,2

75)

(3

,988)

(2

,673)

(1

,330)

-

-

-

-

N

on

-cash

ch

an

ge

s t

o o

pe

rati

on

s(4

83,5

16)

96,7

22

(102,5

78)

78,1

05

161,1

84

185,9

31

205,4

91

175,7

32

160,4

55

218,4

07

87,6

90

Ch

an

ge

s i

n n

on

-cash

op

era

tin

g w

ork

ing

cap

ital

(338,2

98)

10,5

25

10,7

91

11,9

22

12,8

06

13,1

20

13,3

56

13,5

38

13,6

18

13,3

25

12,9

64

(153,4

17)

159,2

09

150,8

50

160,3

92

218,6

56

222,9

08

235,5

23

245,3

45

261,2

39

280,1

45

300,4

34

Cap

ital

tran

sacti

on

s:

Net

Pro

ceed/(

Purc

hase)

for

Real E

sta

te T

ransactio

ns

432,9

24

(323)

46,5

51

131,4

49

56,0

00

56,0

00

-

-

-

-

-

Purc

hase o

f capita

l assets

(exc

ludin

g M

RN

)(4

21,8

86)

(4

63,8

73)

(7

68,4

31)

(503,8

08)

(2

42,1

37)

(1

94,1

94)

(1

25,0

36)

(2

64,1

07)

(209,4

61)

(140,2

24)

(287,9

52)

11,0

38

(4

64,1

96)

(7

21,8

80)

(372,3

59)

(1

86,1

37)

(1

38,1

94)

(1

25,0

36)

(2

64,1

07)

(209,4

61)

(140,2

24)

(287,9

52)

Investi

ng

tra

nsacti

on

s:

(Incre

ase)/

decre

ase in

Self-

adm

inis

tere

d s

inki

ng f

und

-

(41,9

55)

(54,3

23)

(6

5,2

29)

(26,0

54)

(77,5

53)

(84,0

93)

(90,5

69)

(9

8,7

93)

24,3

73

(9

7,2

39)

(I

ncre

ase)/

decre

ase in

Cash-

restr

icte

d I

ntr

a(3

,286)

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

10,0

00

D

ecre

ase/(

incre

ase)

in d

ebt

reserv

e f

und d

eposits

1,3

58

2,1

05

3,2

05

1,3

67

(7

00)

2,0

04

2,5

08

(6

08)

1,8

00

1,3

62

10,7

39

(1,9

28)

(2

9,8

50)

(41,1

18)

(5

3,8

62)

(16,7

54)

(65,5

49)

(71,5

85)

(81,1

77)

(8

6,9

93)

35,7

35

(7

6,4

99)

Fin

an

cin

g t

ran

sacti

on

s:

Short

-term

borr

ow

ing

120,0

00

-

-

-

-

-

-

-

-

-

-

B

onds is

sued

150,0

00

313,3

60

304,3

32

295,1

15

160,3

02

127,8

22

114,9

87

193,5

35

106,9

91

98,7

82

118,5

21

Pre

miu

m o

n f

inancin

g24,0

21

S

inki

ng F

unds M

atu

ritie

s129,5

35

138,8

00

50,0

00

-

66,2

00

80,0

00

-

65,0

00

-

280,0

00

Sin

king F

und in

tere

st

(29,9

15)

(29,8

20)

(27,9

81)

(2

4,6

46)

(24,9

81)

(27,5

13)

(26,8

43)

(25,3

31)

(2

7,6

02)

(2

6,7

17)

(2

8,9

18)

S

inki

ng F

und p

aym

ents

(63,3

41)

(53,2

66)

(44,0

12)

(3

6,3

57)

(34,7

00)

(34,7

00)

(32,6

98)

(30,2

78)

(3

0,2

78)

(2

8,3

13)

(2

8,3

13)

G

old

en E

ars

Bridge c

ontr

acto

r lia

bili

ty p

aym

ent

(Receip

t fo

r E

qu

ity)

(1,8

92)

(7

1,5

78)

(73,0

18)

(7

4,4

77)

(75,9

77)

(77,5

04)

(79,0

46)

(80,6

32)

(8

2,2

52)

(8

3,8

88)

(8

5,5

68)

G

overn

ment

transfe

rs r

eceiv

ed f

or

capita

l additi

ons

6,9

25

208,2

30

456,3

68

135,0

71

41,9

53

26,4

36

25,6

98

86,7

14

119,3

49

59,1

44

187,6

57

Short

-term

debt

repaym

ents

-

(7,0

94)

(1

4,6

72)

(2

3,0

58)

(28,3

96)

(33,3

56)

(30,2

76)

(26,7

67)

(2

2,8

93)

(2

1,5

50)

(2

1,4

63)

B

onds m

atu

red

-

(131,9

40)

(1

41,2

66)

(52,5

29)

(52,5

93)

(68,8

59)

(82,7

27)

(2,7

97)

(67,8

68)

(1

32,9

41)

(280,0

00)

Paym

ents

receiv

ed f

or

Land R

eserv

e n

et

to u

nre

str

icte

d-

457

2,7

12

4,0

26

5,3

13

6,5

73

7,8

07

-

-

-

-

205,7

98

357,8

83

601,2

63

273,1

45

(9

,079)

(1

4,9

01)

(23,0

98)

114,4

45

60,4

46

(1

35,4

83)

141,9

16

Incre

ase/(

decre

ase)

in c

ash

61,4

91

23,0

46

(10,8

85)

7,3

16

6,6

85

4,2

64

15,8

04

14,5

06

25,2

30

40,1

73

77,8

99

Cash

, b

eg

inn

ing

of

peri

od

271,8

62

333,3

53

356,3

99

345,5

14

352,8

30

359,5

15

363,7

79

379,5

83

394,0

89

419,3

19

459,4

92

Cash

, en

d o

f p

eri

od

333,3

53

356,3

99

345,5

14

352,8

30

359,5

15

363,7

79

379,5

83

394,0

89

419,3

19

459,4

92

537,3

92


Ta

ble

4B

- P

roje

cte

d B

orr

ow

ing

Co

mp

are

d t

o B

orr

ow

ing

Lim

it a

nd

Se

lec

t F

ina

nc

ial R

ati

os

(N

o D

eve

lop

me

nt

Fe

e)

(in m

illio

ns o

f dolla

rs)

Actu

al

Fore

cast

Fore

cast

Fore

cast

Fore

cast

Outlook

Outlook

Outlook

Outlook

Outlook

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

Openin

g G

ross D

irect

Borr

ow

ing

2,8

27

3,0

40

3,2

14

3,3

63

3,5

82

3,6

61

3,6

86

3,6

87

3,8

51

3,8

66

3,8

10

A

dju

stm

ents

-

-

-

-

-

-

-

-

-

-

-

Retir

em

ents

/Oth

er

(81)

(139)

(1

56)

(76)

(8

1)

(1

03)

(114)

(30)

(9

1)

(1

55)

(302)

Short

term

borr

ow

ing

s120

-

-

-

-

-

-

-

-

-

-

B

orr

ow

ing

in Y

r -

Capita

l174

313

304

295

160

128

115

194

107

99

119

C

losin

g G

ross D

irect

Borr

ow

ing

3,0

40

3,2

14

3,3

63

3,5

82

3,6

61

3,6

86

3,6

87

3,8

51

3,8

66

3,8

10

3,6

26

Less:

Sin

kin

g f

unds

(857)

(8

53)

(8

40)

(917)

(1,0

02)

(1

,076)

(1

,139)

(1

,286)

(1

,377)

(1

,408)

(1

,282)

Less:

Debt

Reserv

e F

unds

(35)

(33)

(30)

(2

8)

(2

9)

(2

7)

(2

5)

(2

5)

(2

3)

(2

2)

(1

1)

C

losin

g N

et

Direct

Borr

ow

ing

2,1

48

2,3

29

2,4

93

2,6

37

2,6

30

2,5

83

2,5

23

2,5

40

2,4

66

2,3

80

2,3

32

D

efe

rred C

oncessio

naire c

redits

549

526

502

479

456

433

409

386

363

339

316

G

old

en E

ars

Bridg

e c

ontr

acto

r lia

bili

ty1,0

49

1,0

44

1,0

39

1,0

32

1,0

23

1,0

12

998

982

963

941

916

C

losin

g N

et

Borr

ow

ing

3,7

46

3,8

99

4,0

34

4,1

48

4,1

08

4,0

27

3,9

31

3,9

08

3,7

92

3,6

61

3,5

65

Esta

bli

sh

ed

Bo

rro

win

g L

imit

- G

ross D

irect

Deb

t3,5

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

4,0

00

Reco

ncil

iati

on

of

Bo

rro

win

g D

uri

ng

Year

to A

nn

ual

Cap

ital

Exp

en

dit

ure

s:

Capita

l Exp

enditu

res (

inclu

din

g M

RN

)146

652

988

605

270

221

151

291

237

169

317

Less:

Sr

Gov't

Contr

ibutio

ns

(2)

(3

32)

(5

84)

(156)

(43)

(2

6)

(2

6)

(8

7)

(1

19)

(59)

(1

88)

Less:

Oth

er

Contr

ibutio

ns

-

(6

)

(100)

(154)

(66)

(6

7)

(1

1)

(1

1)

(1

1)

(1

1)

(1

1)

N

et

Exp

enditu

res

144

313

304

295

160

128

115

194

107

99

119

Add:

Gro

ss-u

p f

or

Debt

Reserv

e F

und

-

-

-

-

-

-

-

-

-

-

-

Net

Borr

ow

ing

am

ount

for

capita

l144

313

304

295

160

128

115

194

107

99

119


Tab

le 5

B:

Cap

ital

Cash

Flo

ws -

Pro

jects

Ap

pro

ved

an

d P

rop

os

ed

(N

o D

evelo

pm

en

t F

ee)

(in thousands o

f dolla

rs)

PA

TT

UL

LO

ON

LY

A

ctu

al

Update

d B

udget

Budget

Fore

cast

Fore

cast

Fore

cast

Outlo

ok

Outlo

ok

Outlo

ok

Outlo

ok

Outlo

ok

2017-2

026

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

To

tal

CA

PIT

AL

Pro

jects

Ap

pro

ved

or

Un

de

rway

450,9

64

345,5

97

285,3

92

43,4

08

-

-

-

-

-

-

-

674,3

97

Bu

sB

us

Equip

ment

-

4,0

13

35,0

22

15,0

00

-

-

-

-

-

-

-

54,0

34

B

us

Facili

ties

-

6,7

57

14,9

80

2,6

50

1,4

00

3,8

00

2,5

55

3,1

55

2,4

50

2,8

55

2,4

51

43,0

52

B

us

Infr

astr

uctu

reE

xchange

-

27,9

06

61,2

12

24,7

91

13,2

04

-

-

-

-

-

-

127,1

13

Bus

Infr

astr

uctu

reT

OH

-

2,3

72

6,4

48

9,0

75

3,7

00

3,7

00

1,2

00

1,2

00

1,2

00

1,2

00

1,2

00

31,2

95

B

us

Infr

astr

uctu

reO

ther

-

1,5

51

1,3

16

-

12,1

27

12,7

16

18,7

32

12,1

03

12,0

90

13,0

70

16,9

09

100,6

14

Bus

Technolo

gy

Applic

atio

ns

-

500

3,7

50

4,0

00

-

-

-

-

-

-

-

8,2

50

B

us

Technolo

gy

-

1,0

79

18

-

-

-

-

-

-

-

-

1,0

97

B

us

Vehic

les

Conventio

nal B

us

Repla

ce

-

-

62,3

81

16,3

43

24,3

89

1,1

41

-

81,7

05

120,3

18

67,5

61

208,9

05

582,7

43

Bus

Vehic

les

Conventio

nal B

us

Exp

ansio

n-

4,7

97

79,7

44

59,4

48

-

-

-

-

-

-

-

143,9

89

Bus

Vehic

les

Com

munity

Shutt

leR

epla

ce

-

-

3,5

34

9,1

73

433

11,8

57

13,0

54

4,5

79

12,6

86

478

13,0

91

68,8

84

B

us

Vehic

les

Com

munity

Shutt

leE

xpansio

n-

-

3,0

60

-

-

-

-

-

-

-

-

3,0

60

B

us

Vehic

les

Custo

mR

epla

ce

-

-

5,7

30

6,2

31

6,3

67

6,4

95

6,6

24

6,7

57

6,8

92

7,0

30

9,5

01

61,6

28

B

us

Vehic

les

Custo

mE

xpansio

n-

-

2,8

51

2,2

37

-

-

-

-

-

-

-

5,0

88

B

us

Vehic

les

Seabus

Exp

ansio

n-

-

-

-

-

-

-

-

-

-

-

-

B

us

Vehic

les

Non-R

evenue

-

827

3,3

81

1,5

70

4,0

60

1,4

70

1,5

40

2,2

10

2,0

90

1,4

20

1,0

40

19,6

08

Su

bto

tal

Bu

s-

49,8

02

283,4

24

150,5

19

65,6

81

41,1

79

43,7

05

111,7

08

157,7

26

93,6

14

253,0

97

1,2

50,4

54

Rail

Rail

Equip

ment

-

14,6

84

48,0

12

14,1

63

21,8

42

16,2

85

6,6

85

-

-

-

-

121,6

71

Rail

Facili

ties

-

2,9

30

25,2

50

2,2

50

1,2

50

1,7

50

2,5

00

2,5

00

-

-

-

38,4

30

R

ail

Infr

astr

uctu

reS

tatio

ns

-

15,8

52

31,9

17

20,6

00

20,4

50

10,0

00

-

-

-

-

-

98,8

19

R

ail

Infr

astr

uctu

reW

ays

ide

-

1,7

16

17,4

34

23,6

50

6,6

97

-

-

-

-

-

-

49,4

98

R

ail

Infr

astr

uctu

reO

ther

-

47,0

27

51,0

92

41,5

00

23,3

33

21,9

80

17,7

66

16,9

54

16,3

30

27,9

30

16,3

30

280,2

42

Rail

Technolo

gy

Applic

atio

ns

-

-

3,2

40

-

-

-

-

-

-

-

-

3,2

40

O

ther

-

1,4

18

10,5

77

606

1,1

00

600

100

600

100

600

100

15,8

02

R

ail

Vehic

les

Non-R

evenue

-

-

905

500

625

-

1,7

80

765

405

-

225

5,2

05

R

ail

Vehic

les

Sky

Tra

inR

epla

ce

-

-

-

4,2

00

10,0

80

19,0

00

28,9

00

107,6

00

16,9

50

-

-

186,7

30

Rail

Vehic

les

Sky

Tra

inE

xpansio

n-

35,3

67

3,6

07

58,8

73

3,7

53

-

-

-

-

-

-

101,6

00

Rail

Vehic

les

Canada L

ine

Exp

ansio

n-

44,0

00

44,0

00

-

-

-

-

-

-

-

-

88,0

00

R

ail

Vehic

les

West

Coast

Exp

ress

Repla

ce

-

-

-

1,5

00

1,5

00

1,5

00

1,5

00

1,5

00

-

-

-

7,5

00

R

ail

Vehic

les

West

Coast

Exp

ress

Exp

ansio

n-

10,5

00

10,5

00

-

-

-

-

-

-

-

-

21,0

00

Su

bto

tal

Rail

-

173,4

95

246,5

35

167,8

42

90,6

30

71,1

15

59,2

31

129,9

19

33,7

85

28,5

30

16,6

55

1,0

17,7

38

Co

rpo

rate

Corp

orEquip

ment

-

1,1

21

3,9

30

-

-

-

-

-

-

-

-

5,0

51

C

orp

orFacili

ties

-

-

150

-

-

-

-

-

-

-

-

150

C

orp

orInfr

astr

uctu

re-

1,6

21

1,6

21

-

5,0

00

5,0

00

5,0

00

5,0

00

-

-

-

23,2

41

C

orp

orTechnolo

gy

Applic

atio

ns

-

8,4

17

6,9

93

5,5

00

4,0

00

4,0

00

-

-

-

-

-

28,9

10

C

orp

orTechnolo

gy

Infr

astr

uctu

re-

4,0

50

4,1

85

-

-

-

-

-

-

-

-

8,2

35

C

orp

orTechnolo

gy

Oth

er

-

-

7,2

00

15,4

00

15,7

00

15,9

00

16,1

00

16,2

00

16,6

00

16,8

00

17,2

00

137,1

00

Corp

orVehic

les

Non-R

evenue

-

601

250

115

115

-

-

280

350

280

-

1,9

91

Su

bto

tal

Co

rpo

rate

-

15,8

10

24,3

28

21,0

15

24,8

15

24,9

00

21,1

00

21,4

80

16,9

50

17,0

80

17,2

00

204,6

78

TL R

oads &

Bridges

TL R

oads

Infr

astr

uctu

reB

ridges

Knig

ht

Str

eet

-

-

1,0

00

5,0

00

5,0

00

-

-

-

-

-

-

11,0

00

T

L R

oads

Infr

astr

uctu

reB

ridges

Patt

ullo

-

-

1,0

00

-

-

-

-

-

-

-

-

1,0

00

T

L R

oads

Infr

astr

uctu

reB

ridges

Oth

er

-

-

2,0

00

-

-

-

-

-

-

-

-

2,0

00

T

L R

oads

Infr

astr

uctu

reB

ikeP

rogra

mT

L O

wned

-

3,2

41

5,3

87

5,6

22

1,2

50

1,0

00

1,0

00

1,0

00

1,0

00

1,0

00

1,0

00

21,5

00

T

L R

oads

Infr

astr

uctu

reW

alk

ing P

rogra

m-

-

-

-

-

-

-

-

-

-

-

-

Su

bto

tal

Ro

ad

s &

Bri

dg

es

-

3,2

41

9,3

87

10,6

22

6,2

50

1,0

00

1,0

00

1,0

00

1,0

00

1,0

00

1,0

00

35,5

00

0

Cap

ital

Gro

ss C

ost

450,9

64

587,9

45

849,0

66

393,4

06

187,3

76

138,1

94

125,0

36

264,1

07

209,4

61

140,2

24

287,9

52

3,1

82,7

67


Tab

le 5

B:

Cap

ital

Cash

Flo

ws -

Pro

jects

Ap

pro

ved

an

d P

rop

os

ed

(N

o D

evelo

pm

en

t F

ee)

(in thousands o

f dolla

rs)

PA

TT

UL

LO

ON

LY

A

ctu

al

Update

d B

udget

Budget

Fore

cast

Fore

cast

Fore

cast

Outlo

ok

Outlo

ok

Outlo

ok

Outlo

ok

Outlo

ok

2017-2

026

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

To

tal

CA

PIT

AL

IN

FR

AS

TR

UC

TU

RE

CO

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ION

SP

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Ap

pro

ved

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Un

de

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28,7

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23,1

12

14,4

59

3,6

67

-

-

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-

-

-

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41,2

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Ro

ad

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ork

Road NIn

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uctu

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18,4

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18,4

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1,5

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1,5

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1,5

50

1,5

50

1,5

50

1,5

50

1,5

50

57,8

00

R

oad NIn

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(S

eis

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& U

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16,5

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33,0

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33,0

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-

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-

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82,5

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oad NIn

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14,2

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26,7

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63,9

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92,0

64

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124,0

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(54,7

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(5

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(9,2

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(9,1

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l Gas T

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(40,0

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(2

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(8

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(1

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Tab

le 6

B -

Tra

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(N

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Actu

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Co

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263%

263%

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253%

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Ma

y 2

6 2

01

7



ANNEX C

Section 223 of South Coast British Columbia Transportation Authority Act

223(1)

The authority may apply to the mayors' council on regional transportation for one or both of the following:

(a) a supplementary fare increase in one or more fiscal years in relation to a revenue transit service;

(b) the assessment of a first-time short term fare for a revenue transit service.

(2) [Repealed 2014-21-35.]

(3) The authority must submit the following records with an application under subsection (1):

(a) the current strategic plan and the current service, capital and operational plans;

(b) a record setting out the parameters and assumptions used in the financial projections of the

authority;

(c) a record setting out the authority's expenditures and revenue in the previous fiscal year;

(d) a record setting out an estimate, for the current fiscal year, of the authority's expenditures and

revenue;

(e) any other record the authority considers relevant to its application;

(f) any other record or information the mayors' council on regional transportation considers relevant

to the application.

(4) If the authority submits an application under subsection (1), the mayors' council on regional transportation

must

(a) promptly publish the application and any other records that the mayors' council on regional

transportation considers appropriate for publication in relation to the application

(i) on the authority's website, and

(ii) in a manner that the mayors' council on regional transportation is satisfied will bring the

application and other records to the attention of the public in the transportation service

region, and

(b) defer deciding on the application for a period of at least 30 days after the application is published

under paragraph (a) in order to allow persons who wish to comment on the application an

opportunity to do so.

(5) Before reaching a decision under this section, the mayors' council on regional transportation may but need not,

in its sole discretion, hold a public hearing on the application, in the manner, at the date, time and location and for

the period the mayors' council on regional transportation, in its sole discretion, may decide.

(6) If a public hearing is held under subsection (5), the mayors' council on regional transportation must

(a) give notice of the public hearing in a manner that the mayors' council on regional transportation is

satisfied will bring the notice to the attention of the public in the transportation service region, or

(b) direct the authority to provide notice of the hearing in the manner, with the information and for

the period required by the mayors' council on regional transportation.

(7) On an application under subsection (1), the mayors' council on regional transportation must endeavour to

decide the application in such a manner as to

(a) maintain the financial sustainability of the authority,

(b) enable the authority to provide the transportation services, pursue the capital projects and meet

the other requirements set out in

(i) its strategic plan, and

(ii) its long term strategy,

(c) encourage the authority to minimize expenses without adversely affecting safety or reducing the

authority's ability to provide the transportation services, pursue the capital projects and meet the

other requirements referred to in paragraph (b) of this subsection, and

(d) keep short term fares as low as is reasonably possible in light of the requirements of paragraphs

(a), (b) and (c).

(8) Despite subsection (5), the mayors' council on regional transportation must reach a decision on an application

under subsection (1) within 90 days after its receipt.



(9) After considering an application under subsection (1), the mayors' council on regional transportation must

(a) approve the application in relation to any one or more revenue transit services and set out the

date on which the supplementary fare increase or first-time short term fare is to take effect,

(b) reject the application in relation to any one or more revenue transit services, or

(c) approve a supplementary fare increase, or a first-time short term fare, in relation to any one or

more revenue transit services in an amount less than that sought in the application and set out the

date on which the supplementary fare increase or first-time short term fare is to take effect.

(10) Within 15 days after making a decision under subsection (9), the mayors' council on regional transportation

must

(a) prepare a report setting out its decision and the reason for that decision,

(b) provide a copy of the report to the authority, and

(c) publish a copy of the report on the authority's website.

(11) A bylaw increasing or assessing a short term fare does not require approval of the mayors' council on regional

transportation before coming into force, and may be made even though the increased or assessed fare is not

contemplated by the strategic plan, if

(a) the board, after full examination of the capital and operating expenditures of the authority and its

subsidiaries, determines at a meeting that increasing or assessing the short term fare is necessary and

unavoidable in order to meet the debt obligations properly incurred by the authority under section

31, and

(b) the board has passed a resolution by a vote of at least 2/3 of its members voting at the meeting

(i) confirming that the circumstances in paragraph (a) of this subsection exist, and

(ii) declaring that, despite this section, approval of the mayors' council on regional

transportation is not required.

1(1) In this Act:

…

"first-time short term fare" means the short term fare assessed for

(a) a revenue transit service in relation to which no short term fare has been assessed, or

(b) the ability of a class of persons to use a revenue transit service over a particular time-span if no

short term fare has been assessed for that ability over such a time-span,

but does not include

(c) a short term fare assessed for a new revenue transit service if

(i) the new revenue transit service is similar in nature to an existing revenue transit service,

and

(ii) the short term fare assessed for the new revenue transit service is identical to or less

than the short term fare assessed for the existing revenue transit service referred to in

subparagraph (i), or

(d) a short term fare assessed for the ability of a class of persons to use a revenue transit service

over a particular time-span if the short term fare assessed for the ability of that, in the

transportation service region, that

(a) is for the transportation of passengers and goods by any means, except by independent transit

services, and without limiting this, includes

(i) ferries,

(ii) cycling path networks,

(iii) custom transit services,

(iv) bus transportation systems,

(v) rail transportation systems,

(vi) designated projects, and

(vii) the major road network, and

(b) is operated or intended to be operated by the authority or its subsidiaries or contractors;

…



"revenue transit service" means any transportation service

(a) provided by, or under contract to, the authority or a subsidiary,

(b) for the transportation of people by any means, including, without limitation,

(i) ferries,

(ii) custom transit services,

(iii) bus transportation systems, and

(iv) rail transportation systems, and

(c) in relation to which a short term fare is or may be assessed;

(c) a location in the general vicinity of the intersection of Cordova and Granville Streets in the City

of Vancouver;

…

"short term fare" means a user fee for a revenue transit service, but does not include

(a) a fee charged for a pass that authorizes the holder, for a period of more than 3 days, to use one

or more revenue transit services, or

(b) a toll under section 29 or 29.1;

…

"supplementary fare increase" means an increase in the short term fare that may be assessed in any fiscal year

for a revenue transit service if, after that increase, the short term fare for the revenue transit service will

be greater than the targeted fare applicable to that revenue transit service in that fiscal year;

"targeted fare", in relation to a revenue transit service in a fiscal year, means the short term fare assessed for

that revenue transit service on April 1, 2008, increased, on the first day of each subsequent fiscal year to

and including the first day of the year in question, by 2%, compounded annually;

…

































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