By Ryan McGreal
Published October 03, 2012
Good news for transit in Toronto: the Toronto Transit Commission will operate Toronto's new LRT lines. The announcement came today after weeks of private wrangling and public sabre-rattling between the TTC, Metrolinx and the Ontario Ministry of Transportation.
The Province is funding the full $8.4 billion capital cost to construct 52 kilometres of new LRT lines, and recently warned that the operation of those lines would be contracted out to a private company.
However, the TTC famously runs one of the most cost-effective transit operations in the world. In 2011, it generated 66.4% percent of its operating revenue from passengers and other revenue streams, with only 27.7% funding from the City of Toronto and 5.9% funding from the Ontario Gas Tax Transfer.
|Revenue||2010 ($000s)||2011 ($000s)||2011 % of Total|
|Source: TTC Annual Report 2011 [PDF]|
|Outside City Services||17,679||17,813||1.1%|
|Total Operating Revenue||997,514||1,036,682||66.4%|
|Ontario Gas Tax||91,600||91,600||5.9%|
|City of Toronto||386,108||431,836||27.7%|
|Total Operating Subsidy||477,708||523,436||33.6%|
|Overall Operating Revenue||1,475,222||1,560,118||100.0%|
Operating buses, Articulated Light Rail Vehicles, Rapid Transit vehicles, streetcars, subways and Wheel-Trans vehicles, the TTC carries around 1.5 million riders a day, or half a billion riders a year.