Message from the Executives
NOTICE TO ALL TTC EMPLOYEES
Dear TTC colleagues,
Yesterday’s (Nov. 23) TTC Board meeting broadly approved staff recommendations for the TTC’s Operating, Wheel-Trans and Capital Budgets, the result of much hard work from staff across the company.
We anticipate that we will carry 555 million riders next year with an overall operating budget of $1.7 billion. Balancing the TTC budget requires subsidy and fares, of course. A fare increase was approved, effective Jan. 3, 2016 as follows:
- 10 cents on tokens.
- 25 cents on Adult cash fare.
- Price freeze on all passes.
In addition, the Board approved that all fares for seniors and students, including cash, be frozen pending the City-led review of the Framework for Transit Fare Equity report due in the first quarter of 2016.
The Board also approved a suite of service improvements to be rolled out in 2016, as follows:
- The implementation of earlier Sunday subway service starting at 8 a.m. and the implementation of earlier service on connecting bus and streetcar routes.
- Bus service reliability improvements.
- Streetcar service reliability improvements.
- New and enhanced express bus service.
These service improvements are subject to City Council providing increased subsidy to fund the gap of $41 million that remains between what it will cost to run the TTC next year, and the revenue that fares and secondary income will generate. As such, implementation dates for these service improvements will not be known until our subsidy is decided in the new year.
Our Capital Budget request was approved and this will enable us to continue our work of modernizing the TTC. That said, a gap of $2.8 billion still exists between our overall 10-year capital needs and available funding. Lobbying efforts of other orders of government to close this gap will continue.
All in all, I believe that this was another good budget outcome for the TTC and its customers. While fare increases are always unpopular, we have managed to limit their impact and to secure more service improvements for our customers.
Chief Executive Officer
November 24, 2015