TTC fares could go up by another 10 cents next year (so start hoarding tokens)

First, some good news for TTC riders: Karen Stintz has promised to maintain current service levels next year, saying there’s “no appetite” in council or among commuters to axe any lines or reduce service. But, financially, that promise could be hard to keep. Despite raking in a $22-million surplus in 2011 (ridership was way up), and raising fares by 10 cents in 2012, the transit operator may still have trouble covering its bills in 2013. One issue is that TTC surpluses are usually given back to the city. Another is that the TTC will likely need to pay tens of millions of dollars in extra wages: a staff report released yesterday recommended giving non-union managers the same raises and benefits awarded to union workers earlier this month, which would cost the commission $19.4 million in 2013. The budget pressure could, Stintz conceded, translate into another 10-cent fare hike for riders in 2013. [National Post]