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TTC Board Unanimously Votes to Freeze Fares for 2015
Board votes to ask City Council to allow TTC to keep $47.7 million surplus.
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CTV-Toronto

TTC riders may be in for some relief at the fare box next year after Toronto Transit Commission Board members voted in favour of a motion put forth by former chair and mayoral hopeful Karen Stintz.

 With an unexpected $47.7-million surplus from its 2013 operating budget Stintz’s motion asks city council to allow the TTC to retain that surplus for next year’s budget in order to avoid a fare increase.

“We realized that we had this surplus and we could not have predicted it when we set last year’s budget.   And so because it is unexpected I think it’s important that we do keep it and we do reward riders for their loyalty given all that they’ve had to go through the last few years.”said Stintz.

The decision is ultimately up to city council which will meet next month.

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  1. don was right posted on 05/28/2014 05:01 PM
    Surplus? what a bunch of liars. Byford told the board of trade in January that the TTC needs $9 billion to cover its state of good repair backlog. ho is gonna pay for that? Not the poor fools stuck on the Gardiner hepoefully
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1 0
CTV-Toronto

TTC riders may be in for some relief at the fare box next year after Toronto Transit Commission Board members voted in favour of a motion put forth by former chair and mayoral hopeful Karen Stintz.

 With an unexpected $47.7-million surplus from its 2013 operating budget Stintz’s motion asks city council to allow the TTC to retain that surplus for next year’s budget in order to avoid a fare increase.

“We realized that we had this surplus and we could not have predicted it when we set last year’s budget.   And so because it is unexpected I think it’s important that we do keep it and we do reward riders for their loyalty given all that they’ve had to go through the last few years.”said Stintz.

The decision is ultimately up to city council which will meet next month.

Leave a comment:

showing all comments · Subscribe to comments
  1. don was right posted on 05/28/2014 05:01 PM
    Surplus? what a bunch of liars. Byford told the board of trade in January that the TTC needs $9 billion to cover its state of good repair backlog. ho is gonna pay for that? Not the poor fools stuck on the Gardiner hepoefully
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