Translink has released its year end fiscal numbers and revenue is up thanks in part to a full year of increased gas and property tax dollars. Translink revenues were up eight percent in 2011 due in part to the gas tax, but the report also cites the same tax as a risk factor.
The report warns fuel efficient vehicles, pricy gas in Metro Vancouver, and cheap gas elsewhere, mean the gas tax revenue stream is volatile.
Of course, one of the big risks noted in the report, is a new revenue source as mayors grapple with the Province over funding. Another cost driver cited as a risk is labour, as salaries, wages, and benefits rose by 16.3 million dollars last year. Also costing Translink more is the Transit Police, as costs rose just over one % or just over a million dollars. Translink also axed 34 transit projects to trim 82 million dollars.