TTC Could Be $32 Million Short Next Year
Wednesday November 14, 2007
CityNews.ca Staff
The cash-strapped TTC could be as much as $32 million in the hole next year.
Though the Toronto Transit Commission is currently $14 million in debt, it has to negotiate a new contract with its unionized workers in the New Year. The current deal finishes up at the end of March.
A negotiated contract could suck up another $18 million if workers are given a raise in the two to three per cent range. There’s no word on any details of a proposed plan for workers.
TTC Chair Adam Giambrone explains the figures aren’t anything new and the transit commission will have to work with what they have in 2008.
“There’s not a brand new figure here. We talked months ago about the increase discussion about the shortfall, and narrowed it down to a $14 million shortfall. And where the other number comes from, and it’s the trouble when you throw numbers around, we haven’t settled our negotiations with our employees for the next contract,” Giambrone said.
“So we’re assuming that there will be some cost in that and there’s an initial estimate in the budget projection. We have a challenge there. We’re relatively close. We do have work to do.”
On Tuesday the TTC announced plans to make its service more high tech next year – among them, installing LED displays that would post wait times and a system that would inform riders about service delays via cell phones or mobile devices.
The new measures are projected to cost about $6 million.
