Very interesting Reports coming to TPA Board next week:
http://app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2018.PA16.3 and
http://app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2018.PA16.4
The first one states:
a. City Council approve the principle that Bike Share as a municipal service is an integral component in the City's transportation, transit and mobility network, and as such, there is considerable merit in continuing City investment and support in the program.
b. City Council acknowledges that user/operating revenues alone will not completely cover ongoing operating expenses of Bike Share, and municipal subsidy will likely be required to offset capital requirements (State of Good Repair and expansion) and net operating deficits.
c. City Council approve the "Financial Sustainability Principles" set out in this report, and that funding current outstanding, as well as future Bike Share capital programs and operating deficits, as necessary, be considered as part of the annual budget cycle in accordance with these principles, namely.
i. Efficiency in operations - the need to continually optimize the expense side of operating the Bike Share system;
ii. Securing system sponsorship and advertising - as key elements to offset operating deficits and ensure the long-term financial sustainability of Bike Share;
iii. Commitment to municipal funding subsidies – to address any system shortfalls as well as capital programs, recognizing the value of the municipality continuing to invest in a Bike Share program;
iv. Subsidy funding would not rely on property tax sources, debt financing or impact operating budgets; and
v. Future years' net surplus operating funds, if any, be deposited to the Bike Share Reserve.