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Office of the Chief Executive

Commission seal 2/22/20 11:42 AM

Council approves 2020 budgets with major transit investments

On Wednesday (February 19), City Council overwhelmingly passed the City’s 2020 Budget and 10-year Capital Budget & Plan that funds major investments in the TTC.

The 2020 Budget included the most significant investment of upgrades to our transit system in the city’s history, nearly doubling our 10-year Capital Budget & Plan to $11.9 billion.

Council’s decision follows the TTC Board’s approval of our 2020 Operating and 2020-2029 Capital Budget & Plan and key capital investment priorities last month. As detailed previously, our 10-year Capital Budget with the infusion of the $4.23 billion in City Building Funds, significantly addresses a backlog of state-of-good-repair works, capacity enhancements and vehicle procurements.

The approved 2020 Operating Budget protects recent improvements and provides funding for an additional 128,000 service hours and 121 Operators. This will allow for continued improvements to service reliability, and ensuring that we provide the service that we advertise.

Also included is $9.5 million in funding for new service priority actions, including:
> Implementation of year one commitments from the Five-Year Service Plan.
> Rollout of Anti-Racism Initiatives.
> Resources to support Business Transformation initiatives.

Both the Board and Council decisions are an important vote of confidence in the tremendous work done by our Finance staff led by interim Chief Financial Officer Josie La Vita.

I am grateful to all TTC staff for their continued diligence and tireless dedication, to our Commissioners for their guidance on our transit plans and to our City Council for recognizing the importance of the TTC as a city building service and connector of multicultural communities.

With this major step forward in securing stable, reliable and predictable funding, our top job is to ensure we provide record levels of safe, frequent and courteous service that our 1.7 million daily customers demand and deserve.

Now let’s deliver.

Richard J. Leary
Chief Executive Officer
February 21, 2020

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