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2020 Business Plan

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2020 Business Plan Table of Contents 1. Business Plan Summary ................................................................................................................ 4 2. 2020 Key Priorities ....................................................................................................................... 6 3. 2020 Financial and Operating Summary ........................................................................................ 8 4. Key Performance Indicators and Drivers ....................................................................................... 9 Financial Indicators ................................................................................................................................. 9 Operating Indicators ............................................................................................................................. 10 Key Drivers ............................................................................................................................................ 12 Assumptions ......................................................................................................................................... 13 5. Consolidated Revenues .............................................................................................................. 14 6. Consolidated Expenses by Segment ............................................................................................ 17 Bus Operations ..................................................................................................................................... 17 Rail Operations ..................................................................................................................................... 22 Police Operations ................................................................................................................................. 25 Corporate Operations ........................................................................................................................... 27 Roads and Bridges ................................................................................................................................ 31 Amortization ......................................................................................................................................... 31 Interest ................................................................................................................................................. 31 Corporate – One-time .......................................................................................................................... 32 7. Investment in Capital Assets....................................................................................................... 33 2020 New Capital Program ................................................................................................................... 34 Active and Approval in Principle (AIP) Projects Underway .................................................................. 39 Capital Infrastructure Contributions .................................................................................................... 50 8. Changes in Financial Position ...................................................................................................... 52 Financial Assets .................................................................................................................................... 52 Liabilities ............................................................................................................................................... 53 Non-Financial Assets ............................................................................................................................ 53 9. Liquidity and Capital Resources .................................................................................................. 54 Cash Flows and Liquidity ...................................................................................................................... 54 Restricted Funds ................................................................................................................................... 54 Net Debt ............................................................................................................................................... 54 Appendix I – Consolidated Financial Statements ............................................................................... 56 Consolidated Statement of Financial Position ..................................................................................... 56 Consolidated Statement of Operations ................................................................................................ 57 Consolidated Statement of Changes in Net Debt ................................................................................. 58 Consolidated Statement of Cash Flows ................................................................................................ 59 Appendix II – Allocated Costs between Operating Companies ........................................................... 60 Page 2 Caution Regarding Forward-Looking Statements From time to time, TransLink makes written and/or oral forward-looking statements, including in this document and in other communications, in addition, representatives of TransLink may make forward- looking statements orally to analysts, investors, the media and others. Forward-looking statements, by their nature, require TransLink to make assumptions and are subject to inherent risk and uncertainties. In light of uncertainty related to financial, economic and regulatory environments, such risks and uncertainties, many of which are beyond TransLink’s control and the effects of which can be difficult to predict, may cause actual results to differ materially from the expectations expressed in the forward-looking statements. Page 3 1. Business Plan Summary The South Coast British Columbia Transportation Authority, TransLink, is Metro Vancouver’s regional transportation authority and its service region includes 23 municipalities on the traditional territory of 45 First Nations communities. TransLink delivers a wide range of services and programs to plan and provide for the transportation needs of residents, businesses and visitors in the region. This includes Bus, SkyTrain, SeaBus, HandyDART, West Coast Express and Transit Police. TransLink also shares responsibility for the Major Road Network and walking and cycling infrastructure with its local government partners. Since 2016, the Metro Vancouver region has seen consistent ridership growth year over year. To meet this increasing demand for the years to come, TransLink’s 2020 Budget, specifically targets investment in the expansion and maintenance of the system and prioritizes customer experience and the efficient management of funds. The 2020 Budget is built on three priorities: • Increasing and improving region-wide service, • Maintaining and repairing of the system for safety & reliability, and • Enhancing the customer experience and information services. TransLink is currently implementing Phase Two of the 10-Year Vision to alleviate overcrowding on transit and congestion on major roads. TransLink is able to deliver these improvements with the support of the region’s Mayors along with investments from the Province of British Columbia and the Government of Canada. Phase Two of the Investment Plan prioritizes expanding and improving the region’s transportation network. Metro Vancouver residents and visitors are relying more on transit as a mode of transportation, which explains why ridership has grown by 3.6 per cent in 2019. Since 2016 ridership has grown 17.3 per cent. New developments and increased service continue to drive a positive brand impression from Metro Vancouver residents. TransLink’s plan for 2020 is to bolster growth with smart investments. These are investments that will work towards maintaining the current system while expanding new service. The 2020 Budget priorities will be achieved through the following initiatives: Increasing and Improving Region-Wide Service • Implementing over 364,000 conventional bus service hours. • Launching five new RapidBus (formerly B-Line) routes (two replacement and three new routes). • Expanding SkyTrain service with 14 new Mark III trains, and 12 new Canada Line trains. • Developing the Transport 2050 Strategy and furthering public engagement. • Developing a climate action plan. • Upgrading two and constructing one Operations and Maintenance Centres. Maintaining and Repairing of the System for Safety & Reliability • Renewing technology in the management systems. • Delivering an Emergency Response Plan and formalizing the Safety Management System. • Expanding the retail amenities to enhance the customer experience and improve perceived safety and security. Page 4 Enhancing the Customer Experience and Information Services • Developing the online HandyDART reservation system for customers to book, change and cancel trips online. • Expanding Conventional Bus and Community Shuttle fleet with 95 new vehicles. • Expanding and replacing 52 new HandyDART vehicles. • Improving bus speed and reliability to address growing congestion. • Furthering the development of safety campaigns. • Revamping the TransLink website to optimize the customer experience. • Formalizing an Emergency Management and Communications program. Driven by the needs of customers and the region, TransLink is expanding
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