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Greater Victoria Transit's $12M Surplus: A Rainy Day Fund

Greater Victoria Transit's $12M Surplus: A Rainy Day Fund

Published 1 week ago
Description

Greater Victoria transit has a surplus of $12.6 million from the last fiscal year, primarily due to fare hikes and cheaper fuel prices. However, they cant use this extra money to improve service due to provincial law. The reserve balance serves as a security net against unexpected expenses, such as rising fuel costs. Despite the surplus, immediate benefits arent visible on the roads.

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