March 31, 2026 financial statements

The Seaway International Bridge Corporation (SIBC) operates and manages the international bridge system on behalf of its owners: The Federal Bridge Corporation Limited (FBCL), the Canadian partner, and the Great Lakes St. Lawrence Seaway Development Corporation (GLS), the American partner. The bridge system connects Cornwall, Ontario; Akwesasne; and Rooseveltown, New York. 

SIBC is responsible for collecting toll revenues and overseeing the day‑to‑day operation and maintenance of the North and South Channel Bridges and associated international roadways. Ownership of the bridges, roadways, and buildings rests with the Canadian and American partners, who are responsible for all capital infrastructure investments and major repair projects. 

Financial Summary for the Year Ending March 31, 2026 

During the 2025–26 fiscal year, approximately 2.4 million passenger vehicles and 54 thousand commercial trucks utilized the bridge system (2024–25: 2.5 million passenger vehicles and 64 thousand commercial trucks).  

Free passage is provided to eligible individuals in accordance with the Seaway International Bridge Corporation’s established Toll Exemption (Friendship Pass) Framework. These crossings accounted for approximately 80% of total bridge traffic for the year ended March 31, 2026 (2024–25: 76%), reflecting both the long-established policy framework and the bridge’s role in supporting cross-community mobility. 

Toll revenues collected from the remaining 20% of traffic totaled $3.1 million (2024–25: $3.2 million). In addition, other revenues of $0.3 million were received during the year (2024–25: $0.3 million). 

Operating expenditures totaling $4.5 million were incurred in 2025–26 (2024–25: $4.5 million) to ensure the safety and security of the bridge system and to maintain continuous 24‑hour, seven‑day‑a‑week operations. As annual operating costs exceeded revenues, the Government of Canada provided funding of $1.1 million (2024–25: $1.1 million) to offset the operating shortfall. 

During fiscal year 2025–26, FBCL invested $0.3 million (2024–25: $0.2 million) and GLS invested $0.6 million (2024–25: $0.1 million) in capital works related to the bridges, roadways, and buildings. All major construction contracts at the crossing include a minimum 15% First Nations content requirement, supporting Indigenous participation in infrastructure projects. 

Link to Audited Financial Statements for March 31, 2026 

Toll Exemption (Friendship Pass) Framework 

The framework has been administered in its current form since the early 2000s and builds on free passage practices associated with the crossing for several decades. The Friendship Pass framework is administered in coordination with the Mohawk Council of Akwesasne (MCA) through defined eligibility categories and verification processes.  

The framework includes both individual-based eligibility and role-based passes issued for the provision of essential services or approved activities within defined program categories. Requests for work-related or organizational passes are submitted through the MCA Office of Vital Statistics (OVS), which serves as the recognized coordinating body for eligibility verification. 

All passes are issued on a controlled basis under defined program criteria, are non-transferable, and are subject to specific conditions of use. 

Taskforce on Climate-Related Financial Disclosure (TCFD) 

SIBC recognizes its responsibility as a Crown corporation to reduce the environmental impacts of its own operations and ensure the resilience of its facilities and infrastructure to climate change.  A comprehensive Taskforce on Climate-Related Financial Disclosure (TCFD) is included in FBCL’s Annual Report which includes the impact on SIBC. 

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March 31, 2025 financial statements

SIBC operates and manages the international toll bridge system linking Cornwall, Ontario, Akwesasne and Rooseveltown, New York. SIBC is a wholly-owned subsidiary Canadian Crown corporation to The Federal Bridge Corporation Limited (FBCL). It operates as a joint operation between FBCL (Canadian partner) and the Great Lakes St. Lawrence Seaway Development Corporation (American partner – GLS). SIBC collects the tolls and pays for the daily operations and maintenance of both the North and South Channel Bridges and international roadways, including the purchases of necessary vehicles and equipment. The bridges and buildings themselves are directly owned by the Canadian and American partners, who are responsible for all capital and major repairs. Consequently, SIBC returns all money to the owners annually after paying for annual operations. These funds are then re-invested back into roads, bridges and buildings.

Due to the pandemic, SIBC continues to be affected during the fiscal year ended March 31, 2025. Consequently, SIBC received $1.06 M (2024 – $1.14M) in funding from the Canadian federal government to cover the operating deficit.  This funding allowed SIBC to continue with the operation and maintenance of the roads, bridges and buildings to provide safe crossing services for those allowed to cross the border.

Furthermore, the owners also invested in other projects that are not covered by the Owners’ balance held by SIBC, but rather paid for by additional Owner funds. During the March 31, 2025 fiscal year, FBCL has incurred $0.46M in additional capital assets and improvements.

Finally, during the course of the fiscal year, the Owners invested a further $0.24M into SIBC on updates to the Administration building, North Channel Bridge and South Channel Bridge. Additionally, the Owners will continue to provide funding of $1.15M for various capital projects in the upcoming fiscal year.

Large construction contracts at the crossing include a minimum of 15% First Nations content.

SIBC recognizes its responsibility as an entity of the Government of Canada to reduce the environmental impacts of its own operations and ensure the resilience of its facilities and infrastructure to climate change.  SIBC’s parent Crown corporation’s ESG Framework includes a priority on Climate Action focusing on increasing its understanding of climate risks and opportunities and are working on better integrating climate-related questions into governance and internal processes at both FBCL and SIBC.  A comprehensive Taskforce on Climate-Related Financial Disclosure (TCFD) is included in FBCL’s Annual Report which includes the impact on SIBC.

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March 31, 2023 financial statements

SIBC operates and manages the international toll bridge system linking Cornwall, Ontario, Akwesasne and Rooseveltown, New York. SIBC is a wholly-owned subsidiary Canadian Crown Corporation to The Federal Bridge Corporation Limited (FBCL). It operates as a joint operation between FBCL (Canadian partner) and the Great Lakes St. Lawrence Seaway Development Corporation (American partner – GLS). SIBC collects the tolls and pays for the daily operations and maintenance of both the North and South Channel Bridges and international roadways, including the purchases of necessary vehicles and equipment. The bridges and buildings themselves are directly owned by the Canadian and American partners, who are responsible for all capital and major repairs. Consequently SIBC returns all money to the owners annually after paying for annual operations. These funds are then re-invested back into roads, bridges and buildings.

Due to the pandemic, SIBC continues to be affected during the fiscal year ended March 31, 2023. Consequently, SIBC received $1.19M (2022 – $1.67M) in funding from the Canadian and US  federal governments to cover the operating deficit.  This funding allowed SIBC to continue with the operation and maintenance of the roads, bridges and buildings to provide safe crossing services for those allowed to cross the border. Furthermore, during the course of the fiscal year, the Owners invested a further $0.73M into SIBC on updates to the South Channel Bridge. Additionally, the Owners will continue to provide funding of $1.07M for various capital projects in the upcoming fiscal year.

Finally, the owners also invested in other projects that are not covered by the Owners’ balance held by SIBC, but rather paid for by additional Owner funds. During the March 31, 2023 fiscal year, FBCL has incurred $0.21M in additional capital assets and improvements.

Large construction contracts at the crossing include a minimum of 15% First Nations content.

For additional information, refer to SIBC’s latest financial statements.

March 31, 2022 financial statements

SIBC operates and manages the international toll bridge system linking Cornwall, Ontario, Akwesasne and Massena, New York. SIBC is a wholly-owned subsidiary Canadian Crown Corporation to The Federal Bridge Corporation Limited (FBCL). It operates as a joint operation between FBCL (Canadian partner) and the Great Lakes St. Lawrence Seaway Development Corporation (American partner – GLS). SIBC collects the tolls and pays for the daily operations and maintenance of both the North and South Channel Bridges and international roadways, including the purchases of necessary vehicles and equipment. The bridges and buildings themselves are directly owned by either the Canadian and American partners, who are responsible for all capital and major repairs. Consequently SIBC returns all money to the owners annually after paying for annual operations. These funds are then re-invested back into roads, bridges and buildings.

Due to COVID-19 and the enforced border restrictions on personal cross-border travel, SIBC was heavily affected during the fiscal year ended March 31, 2022. Consequently, SIBC received $1.67M (2021 – $2.34M) in funding from the Canadian federal government to cover the revenue shortfall.  This funding allowed SIBC to continue with the operation and maintenance of the roads, bridges and buildings to provide safe crossing services for those allowed to cross the border, while adhering to COVID-19 safety guidelines. Furthermore, during the course of the fiscal year, the Owners invested a further $2.44M into SIBC on updates to the South Channel Bridge. Additionally, the Owners will continue to provide funding of $0.93M for various capital projects in the upcoming fiscal year.

Finally, the owners also invested in other projects that are not covered by the Owners’ balance held by SIBC, but rather paid for by additional Owner funds. During the March 31, 2022 fiscal year, FBCL has incurred $66k in additional capital assets and improvements.

Large construction contracts at the crossing include a minimum of 15% First Nations content.

For additional information, refer to SIBC’s latest financial statements.

March 31, 2019 financial statements

SIBC operates and manages the international toll bridge system linking Cornwall, Ontario, Akwesasne and Massena, New York. SIBC is a subsidiary Canadian Crown Corporation to The Federal Bridge Corporation Limited (FBCL). It operates as a joint operation between FBCL (Canadian partner) and the Saint Lawrence Seaway Development Corporation (American partner – SLSDC). SIBC collects the tolls and pays for the daily operations and maintenance of both the North and South Channel Bridges and international roadways, including the purchases of necessary vehicles and equipment. The bridges and buildings themselves are directly owned by either the Canadian and American partners, who are responsible for all capital and major repairs. Consequently SIBC returns all money to the owners annually after paying for annual operations. These funds are then re-invested back into roads, bridges and buildings.

During the March 31, 2019 fiscal year, SIBC had an annual surplus of $262,420. The surplus has been retained in SIBC as it will be re-invested back into future capital and major repairs.  In the course of the fiscal year, the owners have invested $398,889 back into roads and bridges. In addition, a significant portion of the March 31, 2019 balance remaining in the owners’ accounts will be re-invested into roads, bridges and buildings in the upcoming fiscal year. Of the $4.62M owners’ balance, the American partner, SLSDC, has earmarked $1.79M and the Canadian partner, FBCL, has earmarked $0.88M to be used primarily to update the South Channel Bridge travelers.

For additional information, refer to SIBC’s latest financial statements

March 31, 2021 financial statements

SIBC operates and manages the international toll bridge system linking Cornwall, Ontario, Akwesasne and Massena, New York. SIBC is a wholly-owned subsidiary Canadian Crown Corporation to The Federal Bridge Corporation Limited (FBCL). It operates as a joint operation between FBCL (Canadian partner) and the Great Lakes St. Lawrence Seaway Development Corporation (American partner – GLS). SIBC collects the tolls and pays for the daily operations and maintenance of both the North and South Channel Bridges and international roadways, including the purchases of necessary vehicles and equipment. The bridges and buildings themselves are directly owned by either the Canadian and American partners, who are responsible for all capital and major repairs. Consequently SIBC returns all money to the owners annually after paying for annual operations. These funds are then re-invested back into roads, bridges and buildings.

Due to COVID-19 and the enforced border restrictions on personal cross-border travel, SIBC was heavily affected during the fiscal year ended March 31, 2021. Consequently, SIBC received $2.34M in funding from the Canadian federal government to cover the revenue shortfall, as well as for the purchase of necessary tangible capital assets.  This funding allowed SIBC to continue with the operation and maintenance of the roads, bridges and buildings to provide safe crossing services for those allowed to cross the border, while adhering to COVID-19 safety guidelines. Furthermore, during the course of the fiscal year, the Owners invested a further $1.35M into SIBC on updating the South Channel Bridge maintenance system. Additionally, the Owners will continue to contribute towards this system in the amount of up to $2.59M in the upcoming fiscal year.

Finally, the owners also invest in other projects that are not covered by the Owner’s balance held by SIBC, but rather paid for by additional Owner funds. During the March 31, 2021 fiscal year, FBCL has incurred $0.22M in additional capital assets and improvements.

Large construction contracts at the crossing include a minimum of 15% First Nations content.
For additional information, refer to SIBC’s latest financial statements.

March 31, 2020 financial statements

SIBC operates and manages the international toll bridge system linking Cornwall, Ontario, Akwesasne and Massena, New York. SIBC is a wholly-owned subsidiary Canadian Crown Corporation to The Federal Bridge Corporation Limited (FBCL). It operates as a joint operation between FBCL (Canadian partner) and the Saint Lawrence Seaway Development Corporation (American partner – SLSDC). SIBC collects the tolls and pays for the daily operations and maintenance of both the North and South Channel Bridges and international roadways, including the purchases of necessary vehicles and equipment. The bridges and buildings themselves are directly owned by either the Canadian and American partners, who are responsible for all capital and major repairs. Consequently SIBC returns all money to the owners annually after paying for annual operations. These funds are then re-invested back into roads, bridges and buildings.

During the March 31, 2020 fiscal year, SIBC had an annual surplus of $244,162 which will be used to fund future costs associated with the roads, bridges and buildings. In the course of the fiscal year, the owners have invested $116,023 back into roads and bridges. In addition, a significant portion of the owner’s balance of $4.8M will be used primarily for updating of the South Channel Bridge travelers with the American partner, SLSDC, contributing $2.64M and the Canadian partner, FBCL, contributing $1.24M.

Furthermore, the owners have invested into significant projects that are not covered by owner’s balance but rather covered by additional owner funds. During the March 31, 2020 fiscal year, FBCL has incurred $5.89M to the final phase of the demolition of the in-water piers of the former high-level bridge in Cornwall.

Large construction contracts on the bridges such as the pier removal and the traveler installation achieve a minimum of 15% First Nations content.

For additional information, refer to SIBC’s latest financial statements.

March 31, 2019 financial statements

SIBC operates and manages the international toll bridge system linking Cornwall, Ontario, Akwesasne and Massena, New York. SIBC is a subsidiary Canadian Crown Corporation to The Federal Bridge Corporation Limited (FBCL). It operates as a joint operation between FBCL (Canadian partner) and the Saint Lawrence Seaway Development Corporation (American partner – SLSDC). SIBC collects the tolls and pays for the daily operations and maintenance of both the North and South Channel Bridges and international roadways, including the purchases of necessary vehicles and equipment. The bridges and buildings themselves are directly owned by either the Canadian and American partners, who are responsible for all capital and major repairs. Consequently SIBC returns all money to the owners annually after paying for annual operations. These funds are then re-invested back into roads, bridges and buildings.

During the March 31, 2019 fiscal year, SIBC had an annual surplus of $262,420. The surplus has been retained in SIBC as it will be re-invested back into future capital and major repairs. In the course of the fiscal year, the owners have invested $398,889 back into roads and bridges. In addition, a significant portion of the March 31, 2019 balance remaining in the owners’ accounts will be re-invested into roads, bridges and buildings in the upcoming fiscal year. Of the $4.62M owners’ balance, the American partner, SLSDC, has earmarked $1.79M and the Canadian partner, FBCL, has earmarked $0.88M to be used primarily to update the South Channel Bridge travelers.

For additional information, refer to SIBC’s latest financial statements

March 31, 2018 financial statements

SIBC operates and manages the international toll bridge system linking Cornwall, Ontario, Akwesasne and Massena, New York. SIBC is a subsidiary Canadian Crown Corporation to The Federal Bridge Corporation Limited (FBCL).  It operates as a joint operation between FBCL (Canadian partner) and the Saint Lawrence Seaway Development Corporation (American partner).  SIBC collects the tolls and pays for the daily operations and maintenance of both the North and South Channel Bridges and international roadways, including the purchases of necessary vehicles and equipment.  The bridges and buildings themselves are directly owned by either the Canadian and American partners, who are responsible for all capital and major repairs. Consequently SIBC returns all money to the owners annually after paying for annual operations.  These funds are then re-invested back into roads, bridges and buildings.

During the March 31, 2018 fiscal year, SIBC had an annual surplus of $370,116.  The surplus has been retained in SIBC as it will be re-invested back into future capital and major repairs.   In the course of the fiscal year, the owners have invested $360,606 back into roads and bridges.

For additional information, refer to SIBC’s latest financial statements

March 31, 2017 financial statements

SIBC operates and manages the international toll bridge system linking Cornwall, Ontario, Akwesasne and Massena, New York. SIBC is a subsidiary Canadian Crown Corporation to The Federal Bridge Corporation Limited (FBCL).  It operates as a joint operation between FBCL (Canadian partner) and the Saint Lawrence Seaway Development Corporation (American partner).  SIBC collects the tolls and pays for the daily operations and maintenance of both the North and South Channel Bridges and international roadways, including the purchases of necessary vehicles and equipment.  The bridges and buildings themselves are directly owned by either the Canadian and American partners, who are responsible for all capital and major repairs. Consequently SIBC returns all money to the owners annually after paying for annual operations.  These funds are then re-invested back into roads, bridges and buildings.  Over the last 10 years (going back to the March 2008 fiscal year) annual operating surpluses have totaled $7.5 million and owners have invested in excess of $91 million., including the painting of the South Channel Bridge and $75 million for the construction of the new North Channel Bridge.

SIBC is very actively engaged in managing the budget and actual results, SIBC is also required by historical government arrangements to provide individual members of the Mohawk community with free passage.  The Seaway has experienced significant decline in cross-border travels linked to the devaluing of the Canadian dollar and regional economic challenges.  Both car volumes and truck volumes have decreased significantly since the 1990s and 2000s.  Car volumes reached their peak in 1991 and 1992 for paid traffic due to the exchange rate resulting in cross border shopping.  The loss on truck volumes started in 2004 as a result of the closure of multiple industrial plant customers such as Domtar, GM, Alcoa and others.