Although he said his transit brain trust will be “sensitive” to low-income riders struggling to pay fares, TransLink CEO Tom Prendergast forecast a one-zone cash fare rising to $3.50 by the end of the next decade.

“Well, first of all, the board has a fiduciary responsibility to make sure that it has enough funds to run the system,” Prendergast told the Georgia Straight after TransLink’s barely attended annual general meeting on provincial election day (May 12). “At the end of the day, I can’t speak 10 years out, saying exactly what the finances of the system are going to be. Right now, what our projections are—those two-percent [annual] cost-of-living increases and 10 percent on top of that”¦that would be in the range of $3 or $3.50.”

It currently costs $2.50 cash to travel one zone or $1.90 per trip if a discount book of 10 tickets is purchased in advance. In 2008, TransLink generated $360 million of its $1.2 billion in revenue from fares. Other funds come from AirCare fees, fuel taxes, property taxes, capital contributions, and interest income.

“There’s no doubt about it, depending upon where you’re at on the income strata—and as you go to lower levels, people have less disposable incomes—that 10-percent fare increase hurts them very, very much,” Prendergast said. “We recognize that. But there has to be a balance here. We firmly believe we have to spread the pain across”¦as many shoulders as possible, and the riders will have to pay for some of it. Now, we will be sensitive to that, though. Because, at the end of the day, if we charge fares so much that we chase people away, we’re not doing what we really need to be doing.”

When pressed as to whether or not he would maintain current fares or look to reduce the burden, Prendergast again echoed the fact that he is looking at a two-percent cost-of-living increase per annum, plus an additional 10 percent spread across the coming 10 years, and not foisted on riders “in one fell swoop”.

During the hourlong meeting at the Firefighters’ Hall next to Metropolis at Metrotown, Prendergast and TransLink board chair Dale Parker reiterated that the authority has faced a difficult year, citing everything from the economic slowdown to high fuel prices as responsible for the funding crunch.

In discussing TransLink’s Transport 2040 30-year overall transportation strategy, Prendergast said significant funding streams must be made available. He cited “newer” sources such as carbon-tax credits and road user fees as something to be used in addition to current sources.

“If we want to stay ahead of the curve and maintain control of our destinies and keep Vancouver being one of the world’s most livable cities, those are the level of investments we have to make,” Prendergast said.

In choosing to schedule the annual general meeting on the same day as the provincial election, Vancouver resident Gudrun Langolf told TransLink staff, somebody was either “brilliant or exceptionally stupid”.

Langolf said she was surprised that so few people showed up for the meeting. The Straight counted only four people, Langolf included, who were not TransLink staff or members of the media.

“First I thought that transit matters don’t matter to people, because they would show up here,” Langolf said. “I am retired for six years, and I have the luxury of being able to show up here. I also notice that your AGM coincides with the election today. I don’t understand why that happened.”¦I think that was a bit of an oversight and it really looks bizarre. Either somebody was brilliant or exceptionally stupid, because we all knew this date was set for four years.”

In his concluding remarks, Prendergast said that next year, TransLink will look to avoiding a scheduling “conflict”.

“Maybe he doesn’t know that we won’t have another provincial election for four years,” Langolf told the Straight after the 58-minute meeting wrapped up at 9:58 a.m.