TTC will ask board to approve 10-cent token hike: report

The Toronto Transit Commission has identified different ways it canreduce its budget shortfall, includinga 10-centhike on tokens that is expected to generate $27 million inrevenue.

The increase, which would go into effect onJan. 1, 2017,would affect the single adult ride fare, which would be increased from $2.90 per token to $3. All other fare media, including Presto, would also be increasedproportionately, with the exception of cash,which was raised from $3 to $3.25 in 2016.

The proposed hikes are contained in a staff report, which will be presentedon Monday to the TTC board as it considers a number of optionsto reduce thetransit agency's shortfall.

Children under the age of 12 will continue to ride theTTCfor free but, should the board approve,fares are set to increase for students and seniors.

The report blames the budget shortfall on low ridership, maintenance and energy costs, labour costs, and theimplementation of Presto.The TTC is currently facing a shortfall of $172.6 million, as well as a request from the mayor's office to deal with a 2.6 per cent reduction in the subsidy it receives from the city, an amount totaling $15.8 million.

If the board approves all of the report's recommendations, the agency's projected shortfall would be reduced to about $61 million.

• How will the TTC make up for an $172M budget shortfall?

• TTC report pins $30M budget shortfall on falling ridership

The staff reportsuggestsasking city council to approve a one-time draw of $14 million from the TTC Stabilization Reserve.

The TTC is also proposingdelaying the rollout of the Presto fare systemand capitalizing on reduced prices for diesel fuel as ways of saving money.

• Delaying Presto fare system could save TTC $16M in 2017, report says