TTC sees modest budget surplus for 2006

[Suicidal Gingerbread Man]

TTC sees modest budget surplus for 2006

CTV.ca News Staff

Despite a small budget surplus Toronto's Transit Commission is projecting a deficit for next year.

Increased ridership boosted the TTC's bottom line, giving the transit system a $5 million surplus for 2006.

Despite seeing the budget emerge from red ink, TTC chair Howard Moscoe said it represents a fraction of the system's overall budget.

"It's the equivalent of finding a nickel in your pocket at the end of the month," Moscoe told CTV's Desmond Brown Wednesday morning.

While Moscoe conceded the modest surplus is a step in the right direction, the TTC is expecting more fiscal challenges ahead.

Ridership is projected to be 445 million, representing 9 million more people than expected. Transferrable Metropasses are being credited with the increase in TTC traffic.

While more riders mean more revenue, they also impose an increased strain on the system.

High fuel prices and an extra 100 buses being put on city streets are also expected to add to TTC expenses.

Add it all together and the projected shortfall is expected to be $38 million in 2007.

Besides money collected through fares, the TTC also receives funding from the provincial and municipal levels of government.

 

[Suicidal Gingerbread Man]

$5 million

"It's the equivalent of finding a nickel in your pocket at the end of the month," Moscoe told CTV...

Add it all together and the projected shortfall is expected to be $38 million in 2007.

Or about 38 cents short, Moscoe?

 

[doady]

$5 million is a pittance compared to the overall $300+ million operating budget of the TTC

 

[Suicidal Gingerbread Man]

^
I was pointing out that calling 5 million the equivalent of "a nickel" is bullshit, then the $35 million is less than 50 cents.

F*cking Moscoe is starting to get on my nerves. The guy absolutely never has anything good to say.

 

[spmarshall]

No wonder the TTC has a small surplus this year. Ridership is up big time, and service levels haven't matched this increase. Plus council budget for the TTC has been way too conservative to hire more drivers and staff, even with Miller in charge.

 

[drum118]

Ridership is projected to be 445 million, representing 9 million more people than expected. Transferrable Metropasses are being credited with the increase in TTC traffic.

I Think Not.

Ridership has being going up by 3%/yr before Transferrable Metropasses came into effect.

Add it all together and the projected shortfall is expected to be $38 million in 2007.

If this is a setup for an fare increase, TTC chair Howard Moscoe needs to go to Thunderbay and asked that city to come up with the extra money that they are receiving to build the new subway train as well rebuilding the CLRV's.

Then, Howard Moscoe should go to Orion and asked for the extra money they received to build the Orion VII's for the buy only Ontario plan.

Then he should ask the other sole source suppliers to kick in some money also.

Only then he should ask the riders to pay more.

Time for real tenders and real price for TTC big price items.

TTC may get prices that Madrid Spain got for building their subway system considering their labour cost is the same as here.

 

[doady]

I was pointing out that calling 5 million the equivalent of "a nickel" is bullshit, then the $35 million is less than 50 cents.

He doesn't mean it literally, he is simply saying the suplus isn't much.

F*cking Moscoe is starting to get on my nerves. The guy absolutely never has anything good to say.

What good is there to say? Transit in Toronto (and area) does seems kind of hopeless.

 

[Mark Dowling]

$5m = nickel
$35m = toonie

It's the new math (Toronto NDP style)

 

[billonlogan]

Fare hike unlikely despite TTC woes
By ZEN RURYK, CITY HALL BUREAU CHIEF
torontosun.com/News/Toron...3-sun.html

Transit riders could face another fare hike this year as TTC commissioners grapple with a $33.5-million budget shortfall.

However, two commissioners -- Councillors Michael Thompson and Peter Milczyn -- yesterday offered assurances that TTC customers will not face their third consecutive annual fare increase.

"Clearly, we are trying to encourage more people to ride the TTC," said Thompson, who added that fare hikes discourage people from hopping on buses and subways.

"(A fare increase) is not a first option in my view; quite frankly, I think that's an option that shouldn't be on the table at this time," he said.

Milczyn predicted that the transit commission and Toronto's budget committee will not have the appetite to boost fares.

Transit officials will have to find some savings to help balance the TTC budget, he said.

SURPLUS MAY BE USED

When the agency's 2006 finances are finalized, there may be a surplus which can be used to help offset the shortfall, he said.

TTC commissioners will take their first look at this year's budget tomorrow. It calls for the city to provide a subsidy of $246 million.

The one-way adult cash fare last year went up 25 cents to $2.75. The TTC also bumped up the price of a ticket or token, sold in packages of five or 10, by a dime to $2.10 each.

In 2005, the cash fare went up by 25 cents to $2.50. Riders also had to pay more for tickets and tokens -- a 10 cents increase that drove up the price to $2 apiece.

Topping the TTC's list of increased expenses is the $25.6 million it will pay out this year in higher wages. Fuel and hydro costs are also adding $11 million to the budget.

Plans call for the TTC to boost rush-hour service in the fall when it deploys 100 extra buses.

 

[ganjavih]

Transit in Toronto (and area) does seems kind of hopeless.

It always amuses me when people make statements like this. If transit in Toronto is hopeless, where is it not hopeless?

 

[unimaginative2]

Most of continental Europe and East Asia? Perhaps even New York if the recently-announced projects get built.

 

[ganjavih]

Well, if you have to leave the continent to find a better public transportation system than the TTC, calling it hopeless is a bit much.

 

[ganjavih]

Why? We can't say "transit in North America is hopeless"?

Yeah, we could. But why would we call the TTC hopeless? I've used transit in Europe over the several months I've spent there and I used the TTC for 9 years in Toronto. For the most part it got me from point A to point B efficiently, reliably and comfortably. My only major beef with the TTC is the anaemic subway coverage. Other than that, why call it hopeless? I never felt deprived using it, hardly ever waited more than a few minutes for a bus, streetcar or subway, never really felt the envy for European systems. Yes, public transit in most North American cities blows compared to European systems, but they also blow compared to the TTC. Perhaps I'm a bit sensitive about criticism of the TTC but I'm having to use Montreal's utterly pathetic system now. Every time I come back to Toronto and use the TTC, it's a joy.

 

[spmarshall]

It's true. Only New York offered a system that I truly found to work really well on the whole. Safe, frequent, bus connections work fairly well. But that's New York, and my experience was mostly Manhattan, with side ventures to New Jersey, Brooklyn, and to and from LGA.

Montreal has its own problems - infrquent and overcrowded Metro trains and really slow buses.

London was a mixed bag. The Underground's reliability issues and its weird surface network mar a really sophisticated system.

Vancouver has a nice system, but it's really only nice along the Skytrain and the inner routes (basically the trolley bus routes), otherwise, outside central Vancouver, it's adequate at best apart from a few corridors.

Chicago has a nice map, but it's small L trains and infrequent off-peak service were lacking. Plus many bus routes are not great.

And then there's all those other mid-sized US systems I tried. All make Mississauga's or even Brampton's systems look great.

Muni looks like an amazing system on paper, but I am curious as to how it ranks when I try it out in April. SF at least looks like one of the only cities in the US outside NYC where transit is a real viable option.

The TTC has serious problems, but they are not fixable. Solutions are there, and can be added easily and quicly and progressively.
- Deliberate expansion of rapid transit
- Improvements to the surface network to meet demand
- Full-service limited stop surface routes to fill in the gaps of the subway on the busy corridors.
- Real regional rail (this is not the TTC's fault)

 

[cdl42]

Why? We can't say "transit in North America is hopeless"? Though there's always hope is there anything to give us hope?