Letters to Stakeholders
Annual Report 2010-2011
President’s Letter
The Highway 104 Western Alignment Corporation has completed its fourteenth year of operation in striving to provide the highest level of highway operation and customer service.
The toll amounts paid by our customers, both passenger and commercial, have not increased for the last seven years, since 2004.
This can be attributed to a combination of sound financial management and strong traffic volumes on the Cobequid Pass.
The Independent Maintenance Engineer (IME), Delphi-MRC, continues to monitor and update the original pavement renewal strategy and major maintenance contracts are tendered based on this strategy.
The IME also plays a vital role in monitoring the condition of the roadway and reviewing the contracts called for maintenance activities, such as micro surfacing, structural repairs and shouldering contracts.
The law firm of McInnis-Cooper supports Corporation activities through sound legal advice and CIT Financial, the Bondholder’s representative, provide financial oversight on behalf of the Bondholders.
Grant Thornton provides audit services to the Corporation, along with other financial advice.
The Corporation and its road maintenance contractor, the Department of Transportation and Infrastructure Renewal (NSTIR),
are in the fourth year of a 5 year agreement to provide summer and winter maintenance on the Cobequid Pass with a Department crew dedicated only to maintenance activities on the Pass.
The Corporation pays NSTIR $1.2 million annually for these services.
The Corporation’s management team consists of General Manager Paul Richard, P.Eng, Controller Eva Hislop, CMA, and Administrative Assistant Patricia Belleza.
The Corporation works with NS TIR’s Government liaison, Kevin Caines, P.Eng.,
as the Transportation Department continues to provide excellent service to the traveling public by maintaining the Cobequid Pass Toll Road as a first class highway facility.
Moving forward, the Corporation strives to continue to provide strong financial management and a well maintained roadway for a quality driving experience.
Lee Rankin. P.Eng. President
General Manager’s Letter
The Cobequid Pass is a vital link in the Province’s highway system, providing a modern, well maintained highway that is part of the TransCanada Highway which connects Nova Scotia to the rest of the Country.
Traffic volumes reached an all time high, as just under 3.2 million vehicles passed through the Toll Plaza in fiscal 2010-11, of which 78% were cars and 22% trucks. This is an increase of 4.4% over the previous fiscal year.
In comparison to original forecasted traffic, automobile traffic is up 61%, while truck traffic is down 3%. Tolling revenue is up 5.6% over fiscal 2009-10, reflecting the increased traffic volume.
The Corporation funded $1.33 million for capital improvements and major maintenance work during this fiscal year. The capital project was the replacement of the concrete pad in the Toll Plaza area. The major maintenance work was for 9 kms of micro-surfacing on three sections of the Toll Highway.
This report provides a broad overview of the history and administrative structure of the Corporation, and the traffic and financial operation of the Cobequid Pass for fiscal 2010-11. Regarding the financial statements, the accompanying notes are very important in explaining the financial details. If you have any questions or comments regarding the Cobequid
Pass, we would be pleased to hear from. The contact
information is printed on the back of this report.
Paul Richard, P.Eng. General Manager
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Highway 104 Western Alignment Corporation
