"The number of riders hovers around 82 per cent of 2019 levels. Meanwhile, revenue has dipped to 92 per cent and operating costs have gone up to 137 per cent of where they were before the COVID-19 pandemic."
"Crafting the TTC's 2026 budget began with a shortfall of about half that size, but it was eventually balanced with the help of a $1.4 billion subsidy from the city."
"Growing our ridership grows our costs, it's that simple of a relationship, Josh Colle, the TTC's chief strategy and customer experience officer, said during the meeting."
"The TTC has long been advocating for sustainable funding for its operations from either the provincial or federal government."
The Toronto Transit Commission is experiencing significant challenges with ridership at 82% of 2019 levels, revenue at 92%, and operating costs at 137%. A report indicated a potential budget shortfall of $500 million by 2027, despite efforts to balance the 2026 budget with a $1.4 billion city subsidy. The relationship between ridership growth and operating costs is complex, with costs projected to rise by 6.5% annually if ridership returns to pre-pandemic levels. Sustainable funding from provincial or federal sources is essential for the TTC's financial stability.
Read at www.cbc.ca
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