TTC asking for record $727M in funding from city in proposed 2018 budget

The TTCisasking the city for a record-settingincrease to its operating subsidy from the city next year so it canoffset operating costs without hiking fares.

A staff report releasedTuesday asks the TTCbudget committeeto approvean additional $37.6million operating subsidyto coverthe cost of the Toronto York-Spadinasubway extension and the continued rollout of the Presto electronic fare system, among other "pressures and changes."

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The requested hike a 5.5 per cent increase from 2017 wouldbring the TTCsubsidy to an unprecedented$727.1 million.

This comes after city council directed all city departmentsand agencies to avoid any increases in their 2018 budgets last May. But the report asserts that council's 2016 vote on a fair freeze for 2018 leaves the TTCwithout any increased revenue sources while absorbing increased costs.

TTCstaff say they have combed through the budget "line-by-line" and found ways tocut costsby $50 million from a June report estimating a$86 million shortfall.

Tuesday'sreport also proposes no changes to service, maintaining2017 service levels attheprojected ridership of 539 million rides.

The TTC budget committee will debate the proposed budget on Friday. It goes to the agency's board on Nov. 28.

City council will make the final decision next February.