Quote:
Originally Posted by dandor31
That is phenomenal! I can't believe it is making a profit! What public transit route can claim that?!
In the article: "Last year, the service’s revenues were about $787,000, and its income statement showed a total overall surplus of $262,355. As of December 31, 2018, the surplus amount is at $376,320."
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If there is enough subsidy, every public transit route can make a profit.
According to
old press release, the annual subsidy for the service is $1.35M. No newer figure can be found.
EDIT: Checked the 2019 FVRD budget, the subsidy for FVX at municipality level is $675,660 per year for both 2018 and 2019. Province-level (BC Transit) subsidy should match that amount, giving the total subsidy of at least $1.35M for last and current year.