Commission approves 2011 TTC Budgets

Commissioners approved the TTC’s 2011 Operating, Capital and Wheel-Trans budgets at a special meeting on Jan. 12. Commissioners voted to cancel a 10-cent fare increase, as well as defer a decision to eliminate service at off-peak times on 48 low-ridership routes until its next meeting on Feb. 2. The TTC budgets will be forwarded to the City for approval. Here’s what was approved:

2011 TTC Operating Budget

Commissioners approved expenses totalling $1.43 billion, with an operating subsidy of $429 million. The TTC is projecting a ridership level of 487 million in 2011 – 10 million more riders than 2010’s record total. The TTC maintains a cost-recovery rate at 70 per cent, one of the highest in North America.

2011 TTC Capital Budget

Commissioners approved a total of $904.5 million for the 2011 portion of the 2011-2015 Base Capital Program. The budget provides for state-of-good-repair projects (90 per cent of the total), legislative requirements, capacity enhancements, station and facility improvements and expansion initiatives.
TTC staff stated that capital funding for 2011 is secure. Some deferrals will be required to balance the 2012 budget. However, the TTC 10-Year Capital Program is facing a $2.3-billion shortfall, highlighting the need for predictable, long-term funding to keep the existing system in a state of good repair.

2011 Wheel-Trans Budget

Commissioners approved the 2011 Wheel-Trans Operating Budget worth $96.5 million to accommodate an increase in ridership of more than seven per cent to 2.9 million annual trips.