Annual Report 2009-10

Directors’ ReportThe TransAdelaide Board has pleasure in presentingits report on the Financial Report of the economicentity for the financial year ended 30 June 2010.Principal ActivitiesTransAdelaide is a body corporate subject to the provisions of the PublicCorporations Act 1993. The TransAdelaide (Corporate Structure) Act 1998provides that TransAdelaide’s principal activity is to operate passenger transportservices. This continued to be our primary focus throughout the year.TransAdelaide’s agreement for the provision of metropolitan rail and tram serviceswith the Public Transport Division (PTD) was renewed by the Government from25 April 2010 taking the contract through until 30 June 2011, unless it isterminated earlier.TransAdelaide was a joint shareholder in Transitplus Pty Ltd, a private companythat provides passenger transport services in the Adelaide Hills region alsounder contract with the Department for Transport, Energy and Infrastructure.The Joint Venture was abolished on the 30 June 2010.Providing our passenger transport services within greater metropolitan Adelaiderequires management of tram and train fleets as well as substantial infrastructure.The focus in 2009-10 has been on improving customer service, employee,community and customer safety whilst managing infrastructure upgrades.Review of Operating ResultThe financial year ended 30 June 2010 has seen TransAdelaide record a netloss of $0.9m. The loss result has been brought about primarily by an increase indepreciation on rail cars following revaluation.Significant Changes in the Economic EntityThere have been no significant changes to the Economic Entity in 2009-10.40 | TransAdelaide Annual Report 2009-10Ministerial Control and DirectionTransAdelaide did not receive any specific Ministerial Direction during 2009-10.