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ANNUAL
REPORTS
2008/09
BRITISH COLUMBIA FERRY SERVICES INC.& B.C. FERRY AUTHORITY
This report contains historical information and may contain certainforward-looking statements that relate to future events or futureperformance. These forward-looking statements are based uponmanagement’s current expectations and assumptions as to a numberof factors, including, the risks, uncertainties and other factors asdescribed in BC Ferries’ Management’s Discussion and Analysiscontained herein and certain of the other BC Ferries’ documentsavailable at www.sedar.com. These forward-looking statements aremade as of today’s date and are based upon information currentlyavailable to management and BC Ferries assumes no obligation toupdate or revise them to re
fl
ect new events or circumstances. If management’s expectations and assumptions prove to be incorrect,or factors change, then actual results could differ materially fromthe forward-looking information contained in this report.
BRITISH COLUMBIA FERRY SERVICES INC.
Corporate Profile 1Message from the Chair 2Message from the President & CEO 3Key Accomplishments 4Management’s Discussion & Analysis ofFinancial Condition and Results of Operations 6Consolidated Financial Statements 50Corporate Directory 72
B.C. FERRY AUTHORITY
A Message from the Chair 742008/09 Annual Report 75Summary of Meetings 76Financial Statements 80Corporate Directory 84
Partnerships: Work openly and constructively with ourvarious business and community stakeholders to exceedthe expectations of our customers and advance eachother’s interests.
Environment: Ensure that environmental standardsare maintained.
Employees: Always deal from a position of honesty,integrity and mutual respect, and ensure that ouremployees develop to their full potential.
OUR GOALS
In support of our vision, we are focused on five keygoals, none more important than safety.1. Safety: To continuously improve the safety of ouroperations inclusive of vessels, terminals and facilities.2. Operational Reliability: To continuously improvethe operational reliability of vessels, terminalsand facilities.3. Continuous Improvement: To be better at everythingwe do.4. Value For Money: To continuously improve value toour customers at every point along the customerexperience chain.5. Financial Integrity: To achieve key financial targets,ensuring that sufficient capital and retained earningsare available to revitalize our fleet, facilities andinfrastructure, while minimizing fare escalation.
CORPORATE PROFILE
BC Ferries is one of the largest ferry operators in theworld, providing year-round vehicle and passengerservice on 25 routes to 47 terminals, with a fleet of36 vessels. We are an essential transportation link thatconnects coastal communities and facilitates the movementof people, goods and services. Each year, we transportmore than 20 million passengers and 8 million vehiclesthroughout coastal British Columbia.
OUR VISION
To provide a continuously improving west coasttravel experience that consistently exceeds customerexpectations and reflects the innovation and pride ofour employees.
OUR MISSION
To provide safe, reliable and efficient marinetransportation services which consistently exceedthe expectations of our customers, employees andcommunities, while creating enterprise value.
OUR VALUES
Safety: Ensure that the safety and security of ourcustomers and staff is a primary concern in all aspectsof doing business.
Quality: Be motivated by customer expectationsin providing quality facilities and services.
Integrity: Be accountable for all our actions and ensurewe demonstrate integrity in our business relations,utilization of resources, treatment of our customersand staff, and in the general conduct of our business.
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CORPORATE PROFILE
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