Measures Needed to Address TransLink’s ‘Broken Funding Model,’ says CEO Kevin Quinn
TransLink has unveiled a $90 million annual plan aimed at reducing costs and generating revenue to tackle a looming funding shortfall. The transit provider for Metro Vancouver intends these measures to address a projected annual funding gap exceeding $600 million, anticipated to begin in 2026 after provincial relief funding expires.
The cost-cutting strategy includes reducing corporate expenditures, adjusting staffing levels, and exploring avenues for additional revenue while enhancing debt management practices. Notably, the plan does not currently involve cutting transit services for customers, although TransLink has cautioned that service reductions may become necessary if sustainable long-term funding solutions are not secured.
CEO Kevin Quinn emphasized the necessity of making difficult decisions to manage the shortfall effectively, stressing the urgency of finding solutions before potential service reductions by the end of 2025. Key initiatives encompass eliminating 35 vacant corporate positions, curbing spending on external contractors, research grants, leadership training, and community programs. Additionally, TransLink plans to intensify fare evasion enforcement system-wide.
The initiatives will be implemented promptly to address rising costs amid ongoing expansion projects and declining revenue from fuel taxes, compounded by fare increases below the inflation rate.
Earlier this year, British Columbia allocated new funding to TransLink aimed at alleviating overcrowding, with funds earmarked for bus acquisitions to enhance future services. TransLink plans to allocate remaining funds from the previous year’s $479 million allocation toward immediate service improvements.
