TransLink has released the 2013 year-end financial & performance report, and the numbers in terms of TransLink’s financial situation are looking pretty tasty.

In spite of wide, dubious claims of “taxpayer waste” and awards that were given based on such claims, TransLink managed a surplus last year of almost $50 million, helping restore a reserve fund that has been largely dipped into in the past few years in order to maintain service levels. Revenues increased by 1.6% while expenses were reduced by 1.7%. This happened despite some major introductions in 2013 such as the 96 B-Line rapid bus in Surrey.

Here’s one extremely interesting line in the new report:

Operating cost per service hour in 2013 at $143.55 is 6.3 per cent lower than budget.

I reported last year that TransLink’s operating cost efficiency already surpasses Montreal’s and Toronto’s transit systems. It looks like this is getting better.

There was one more interesting line for me, in 24 Hour newspaper’s report on the matter:

In terms of service cuts, Expo and Millennium SkyTrains did have weekend mid-day frequencies reduced by one minute, but that won’t continue, she added.

In 2013, weekend SkyTrain service frequencies shifted from 6 minutes on individual lines and 3 on combined portions (Columbia-Waterfront, Bridgeport-Waterfront) to 7/3.5 minutes. This is something I campaigned against in 2012 (resulting in a presentation to the Regional Mayor’s Council) contending that savings could be offset by decreased revenue as ridership drops with rider discomfort.

And, indeed, riders weren’t enjoying the reduced service. There was little impact to be had on Sunday…. but on Saturday, it was easy to find yourself passed up if a smaller 4-car Mark I train pulled into the station. Strollers and cyclists faced limitations in boarding trains, and it really did “feel like rush hour all day”. I ended up sending numerous complaint forms myself over Saturday SkyTrain overcrowding, probably among many as complaints per 1 million riders went up this year. Thankfully, due to other efficiencies that have been found in the system, this is going to be over soon. Hooray!

The amount of boarded passengers across the regional transit system dropped 2.2% this year. I could contend that reducing SkyTrain weekend frequencies might have had to do with this, but it’s important to remember that there were two fewer business days than 2012 (2012 was a leap year, and Family Day was introduced in 2013). Farebox revenues nevertheless increased, and at 7.3% this appears to be in line with the average fare increase rate (cash fares rose in January for the first time in 5 years); much of this increase was in shifts to prepaid fares (less cash fare payments! yay!), indicating that riders are choosing to commit to more regular transit use.

Here’s to hoping more media agencies take notice and give TransLink deserved credit for following up with audit demands.

TransLink hits surplus in year-end 2013 Cost-cutting measures such as optimization of bus routes and new software upgrades for SkyTrain have helped put TransLink in the black, according to its annual report. TransLink chief financial officer Cathy McLay told 24 hours on Wednesday the transit provider had a surplus of $47.9 million at the end of 2013, an amount that’s been added to its “safety net” totaling $342.7 million. “We’re particularly proud this year,” she said. [READ MORE – 24 Hours Vancouver] Big savings in 2013 Service optimization: $1.5 million

Not ordering 66 buses and associated parts: $2 million

New park and ride revenue: $100,000

Reducing weekend SkyTrain service: $390,000

Using community shuttles on low-frequency routes: $411,000