RELEASE OF RTL’S FINANCIAL RESULTS
Slight surplus for 2016
Longueuil, April 11, 2017 – During the public Board of Directors meeting held on April 6, the Réseau de transport de Longueuil (RTL) tabled its audited financial statements for the fiscal year ending December 31, 2016.
In 2016, the RTL posted a slight surplus of almost $41,400 in revenue over expenses, despite higher than forecast maintenance costs on the aging fleet of articulated buses, which amounted to $900,000 in additional expenses.
Revenue totalled $169.4 M in 2016, up 1.7% compared to 2015, mainly due to additional income from the federal Gas Tax Fund.
These results attest to the RTL’s sound management of its financial resources. During 2016, the public transit corporation revised its structures as well as several management processes, and began the process of reviewing its financial architecture in order to increase its efficiency and effectiveness.
Finally, the RTL invested almost $14 M in purchasing hybrid buses without increasing its debt load.
About the RTL
The Réseau de transport de Longueuil (RTL) is the main transit provider for individuals within the five cities that comprise the Agglomération de Longueuil. The third-largest public transit organization in Québec, the RTL operates a network of 793 kilometres. With some 1,100 employees, the RTL is a major employer that contributes to the economic vitality of the region.
Ever receptive to its users, the RTL plays a key role in the lives of the people and the communities it serves by providing solutions that are efficient, innovative, and adapted to the evolving needs of its clientele. Improving quality of life for the citizens of the Agglomération de Longueuil is a top priority for the RTL.
Réseau de transport de Longueuil
450-442-8600, ext. 8145