Editing Toronto Transit Commission (section)

===Finances===
The TTC recovered 69.6 percent of its operating costs from the fare box in 2017.<ref>{{cite web |url=https://coderedto.com/wp-content/uploads/2018/11/CodeRedTO_MixedSignals.pdf |title=Mixed Signals: Toronto Transit in a North American Context |website=CodeRedTO |page=39 |archive-url=https://web.archive.org/web/20190413025410/https://coderedto.com/wp-content/uploads/2018/11/CodeRedTO_MixedSignals.pdf |archive-date=April 13, 2019}}</ref> From its creation in 1921 until 1971, the TTC was self-supporting both for capital and operations (it had to pay property taxes until 1967). Through the [[Great Depression]] and [[World War II]], it accumulated reserves that allowed it to expand considerably after the war, both with subways and major steady growth of its bus services into the suburbs. It was not until 1971 that the [[Metropolitan Toronto|Metro Toronto government]] and the province started to provide operational funding, required primarily due to rising costs of delivering transit to low-density suburbs in Metro Toronto and large wage increases.{{Citation needed|date=September 2009}} Deficits and government funding soared throughout the 1970s and 1980s,<ref>TTC annual reports</ref> followed by service cuts and a period of ridership decline in the 1990s, partly attributable to recession.

In 1997, the [[Progressive Conservative Party of Ontario|Progressive Conservative]] government under Premier [[Mike Harris]] implemented the "[[Common Sense Revolution]]" which, among other things, cut {{CAD|42{{nbsp}}million|link=yes}} in provincial financing support for the [[Eglinton West line|Eglinton West subway line]], and cut $718{{nbsp}}million in municipal transit support, placing the entire burden of financing the system on municipalities and leaving the TTC with a $95.8{{nbsp}}million/year funding shortfall.<ref>{{cite web |url=http://www.cielap.org/pdf/csr4.pdf |title=Ontario's Environment and the Common Sense Revolution: A Four Year Report |last=Winfield |first=Mark |date=September 1999 |website=Canadian Institute for Environmental Law and Policy |archive-url=https://web.archive.org/web/20190415051025/http://www.cielap.org/pdf/csr4.pdf |archive-date=April 15, 2019}}</ref> The TTC cut back service with a significant curtailment put into effect on February 18, 1996. Since then, the TTC has consistently been in financial difficulties. Service cuts were averted in 2007, though, when [[Toronto City Council]] voted to introduce new taxes to help pay for city services, including the TTC. As a result, since 2011, the TTC became the largest transit operator in [[Anglo-America]] not to receive provincial or state funding.<ref>{{cite web |url=http://www3.ttc.ca/About_the_TTC/Operating_Statistics/index.jsp |title=TTC Operating Statistics |publisher=Toronto Transit Commission |access-date=September 19, 2011 |archive-date=October 3, 2011 |archive-url=https://web.archive.org/web/20111003152836/http://www3.ttc.ca/About_the_TTC/Operating_Statistics/index.jsp |url-status=dead }}</ref> The TTC has received federal funding for capital projects from as early as 2009.<ref>{{cite web |url=http://www3.ttc.ca/About_the_TTC/Coupler/2008/Coupler_April_2008/Funding_agreement_arrives_by_Malvern_bus.jsp |title=TTC Operating Statistics |publisher=Toronto Transit Commission |access-date=December 23, 2011 |archive-date=July 10, 2011 |archive-url=https://web.archive.org/web/20110710034846/http://www3.ttc.ca/About_the_TTC/Coupler/2008/Coupler_April_2008/Funding_agreement_arrives_by_Malvern_bus.jsp |url-status=dead }}</ref> The TTC is also considered one of the costliest transit systems per fare price in North America.<ref>{{cite journal |url=http://www.blogto.com/city/2011/12/is_the_ttc_the_priciest_transit_system_in_north_america/ |title=Is the TTC the priciest transit system in North America? |website=Blogto.com |date=December 17, 2011 |access-date=February 19, 2012}}</ref> For the 2011 operating year, the TTC had a projected operating budget of $1.45{{nbsp}}billion. Revenue from fares covered approximately 70 percent of the budget, whereas the remaining 30 percent originated from the City. From 2009 through 2011, provincial and federal funding amounted to 0 percent of the budget.<ref>{{cite web |url=http://www.toronto.ca/budget2012/pdf/op12_an_ttc.pdf |archive-url=https://web.archive.org/web/20130925221547/http://www.toronto.ca/budget2012/pdf/op12_an_ttc.pdf |archive-date=September 25, 2013 |title=City Budget 2012: Toronto Transit Commission Operating Budget Analyst Notes |publisher=City of Toronto |date=November 28, 2011 |access-date=December 27, 2014}}</ref> In contrast to this, the [[Société de transport de Montréal]] receives approximately 10 percent of its operating budget from the Quebec provincial government,<ref>{{cite web |url=http://www.stm.info/en-bref/budget2011.pdf |archive-url=https://web.archive.org/web/20101214062849/http://www.stm.info/en-bref/budget2011.pdf |archive-date=December 14, 2010 |title=Budget 2011 en bref |publisher=Société de transport de Montréal |page=7 |date=November 29, 2010 |access-date=December 27, 2014}}</ref> and [[OC Transpo]] receives 9 percent of its funding from the province.<ref>{{Cite web | url=http://agendaminutes.calgary.ca/sirepub/cache/2/1mvtaf45i2suqxi5b1obsqyx/6457201112012081800189.PDF | title=Council and committee agendas, minutes and video}}{{dead link|date=June 2016|fix-attempted=yes}}</ref> The fairness of preferentially funding transit in specific Canadian cities has been questioned by citizens.<ref>{{cite web |last=Dotan |first=Hamutal |url=http://torontoist.com/2011/12/unless-city-transfers-more-money-ttc-will-need-to-hike-fares-10-cents%E2%80%94every-year-for-the-next-four-years/ |title=Unless City Transfers More Money, TTC Will Need to Hike Fares 10 Cents—Every Year for the Next Four Years &#124; news |publisher=Torontoist |date=December 11, 2011 |access-date=February 19, 2012 |archive-date=September 26, 2013 |archive-url=https://web.archive.org/web/20130926123413/http://torontoist.com/2011/12/unless-city-transfers-more-money-ttc-will-need-to-hike-fares-10-cents%E2%80%94every-year-for-the-next-four-years/ |url-status=dead }}</ref>

On August 12, 2020, the Province of Ontario promised $404{{Nbsp}}million for TTC operations to compensate for reduced ridership and revenue loss during the [[COVID-19 pandemic]], with more funding to come later. The TTC projected a shortfall of $700{{Nbsp}}million in 2020.<ref name="TheStar-2020-08-12">{{cite news |url=https://www.thestar.com/news/gta/2020/08/12/the-ttc-will-get-400-million-emergency-bailout-province-says.html |title=The TTC will get $400 million emergency bailout, province says |newspaper=[[Toronto Star]] |first=Ben |last=Spurr |date=August 12, 2020 |access-date=August 12, 2020}}</ref>