Toronto Parking Authority COVID-19 Financial Impact Update

Essential services that have remained operational are those that: - are required to meet legislative requirements. - support employee and public health and safety. - enable critical community services and supports. - support services necessary to keep essential services operating. - protect and operate vital infrastructure. - fulfill critical legal and financial obligations. Accordingly, TPA has modified its service delivery to protect public health and safety by providing the essential services needed to maintain the security of parking facilities and Bike Share operations. However, only those services that can be performed safely, and with appropriate physical distancing, are being provided. These primarily include facilities maintenance, technical services, customer service, security and administration. Consistent with the City declaration of a state of emergency, TPA offices were closed to public access and all TPA non-essential staff were sent home with pay to April 26. The necessary technical equipment was immediately provided to employees able to perform their work remotely. In light of parking services revenue falling to 10 percent of previous levels, TPA continues in its efforts to balance financial sustainability with the City's COVID-19 objectives. Operational planning objectives remain fixed on minimizing disruption, reducing non-essential expenses as appropriate, and maximizing long-run cash flow and profitability. Recovery planning is also underway to ensure TPA is ready to return to regular operations as quickly as possible.