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C-Tran has adequate assets

C-Tran claims they are running down their assets - they aren’t:
C-Tran’s net assets have actually been growing in recent years!  There has been an increase in the last three years by over $½ million.  In the last five years, only 2009 and 2010 decreased, where they fell by an average of 1.5 million per year. At that rate, C-Tran’s unrestricted assets of $50 million will last 35 years.

Year

Net Assets

Change

2001

$112,844,416

 

2002

$106,761,819

-6,082,597

2003

$108,153,139

+1,391,320

2004

$103,906,939

-4,246,199

2005

$102,286,090

-1,620,849

2006

$104,620,784

+2,334,694

2007

$114,182,717

+9,561,933

2008

$117,672,796

+3,490,079

2009

$115,156,956

-2,515,840

2010

$114,751,751

-405,205

The real problem: Excessive spending

Cost Of Running Buses up 55% since 2001

Year

Cost

Cumulative %

2001

$21,385,051

+0.0%

2002

$22,638,308

5.9%

2003

$23,816,701

11.4%

2004

$24,637,761

15.2%

2005

$24,935,117

16.6 %

2006

$26,182,380

22.4%

2007

$28,255,489

32.1%

2008

$32,271,700

50.9%

2009

$33,247,083

55.5%

2010

$33,198,647

55.2%