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Hefty maintenance costs, combined with lower-than-expected fare revenue are expected to leave OC Transpo with a deficit of more than $11 million in 2015, according to a city report.
A key overrun is expected in the garage because warranties have expired on the more than 350 articulated buses bought between 2008 and 2010. The city must now pay upkeep out of pocket.
A report tabled Friday indicated the transit service was already $7.7 million over budget for the first six months of the year and it had taken steps to cut spending for the rest of the year.
The measures include elimination of five management posts, an across-the-board cut of 20 per cent on discretionary items and tight controls on overtime and other expenses.
In all, the transit service expects to spend $9.5 million more than budgeted, while the revenue side will be short $2.1 million.
The city transit commission will review the details Sept. 14.
It was the second bit of bad financial news out of city hall this week.
The city has projected a $41-million deficit and ordered a hiring freeze and discretionary spending controls to deal with the shortfall, which was largely due to unexpected snow clearing costs and salary increases.
查看原文...
A key overrun is expected in the garage because warranties have expired on the more than 350 articulated buses bought between 2008 and 2010. The city must now pay upkeep out of pocket.
A report tabled Friday indicated the transit service was already $7.7 million over budget for the first six months of the year and it had taken steps to cut spending for the rest of the year.
The measures include elimination of five management posts, an across-the-board cut of 20 per cent on discretionary items and tight controls on overtime and other expenses.
In all, the transit service expects to spend $9.5 million more than budgeted, while the revenue side will be short $2.1 million.
The city transit commission will review the details Sept. 14.
It was the second bit of bad financial news out of city hall this week.
The city has projected a $41-million deficit and ordered a hiring freeze and discretionary spending controls to deal with the shortfall, which was largely due to unexpected snow clearing costs and salary increases.
查看原文...
