The opening pressure represents increased costs the TTC is facing next year just to maintain existing service levels. Coupled with a $15.4-million draw from the TTC stabilization reserve fund, the remaining gap is roughly $172.6 million. Asked how the mayor believes the TTC can achieve the 2.6-per-cent target, Tory spokeswoman Keerthana Kamalavasan didn’t answer directly. The changes are needed to allow the TTC to transfer products like Metropasses to the new fare card, he said. Friday’s report did not include a proposal for a fare hike, although Mayor Tory and TTC Chair Josh Colle have said one may be necessary.

Source: thestar September 16, 2016 21:56 UTC