Message from the Executives
TTC’s 2014 Budgets approved by City Council
I am pleased to advise all TTC staff that our Capital, Operating and Wheel-Trans Budgets were fully approved at this week’s City Council meeting.
City Council approves 2014 Operating Budget and 2014-2023 Capital Budget/Plan
As noted in past updates, we were seeking an increase in our operating subsidy to enable us to add more service to accommodate a predicted record 540 million rides this year. After a two-year subsidy freeze, it was vital that we secure an increase. We did just that, with an additional $20 million being added to our annual Operating Budget for conventional services, plus an additional $10 million for Wheel-Trans.
This is very good news. It means:
- Authority to recruit more Operators and maintenance staff.
- Provide extra service needed to meet increased ridership.
- Re-introduce Route Supervisors to improve our management of surface routes.
- Recruit Revenue Inspectors to tackle fare evasion and enforce fares on streetcars as they become all proof-of-payment with the new streetcar fleet.
On the capital side, we need $9 billion over the next 10 years to keep our infrastructure in a state of good repair, as well as to expand our fleet and network to accommodate future growth. At present, the City can only fund approximately two-thirds of that total, so a task force is being formed – led by me – to lobby the provincial and federal governments for a fairer, and more predictable funding stream for the TTC. Without it, we cannot continue to deliver on our vision of a transit system that makes Toronto proud.
The fact that our subsidy was increased without revision, speaks volumes for the quality work of our Finance team, and everyone involved in the process, had in putting together a compelling case. I see this budget increase as a sign that our political leaders recognize the value of transit and that they have noticed the real improvements we have made as we progressively modernize the TTC.
Keep up the excellent work.
Chief Executive Officer
January 31, 2014