Toronto Parking Authority - 2021 Operating Budget and 2021-2030 Capital Budget

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The decision

2020-11-03 · Toronto Parking Authority · adopted

As filed

The Board of Directors of Toronto Parking Authority: 1. Approved the 2021 Operating Budget and 2021-2030 Capital Budget for Toronto Parking Authority, as outlined in the report (October 19, 2020) from the Acting President, Toronto Parking Authority. 2. Forwarded the 2021 Operating Budget and 2021-2030 Capital Budget for Toronto Parking Authority as outlined in the report (October 19, 2020) from the Acting President, Toronto Parking Authority, to City Council.

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3. Directed that Confidential Attachments 1 and 2 to the report (October 19, 2020) from the Acting President, Toronto Parking Authority, remain confidential in their entirety as they pertain to personal matters about identifiable individuals, including municipal or local board employees, and labour relations or employee negotiations, and the security of property belonging to the City or one of its agencies or corporations.

On the agenda

As the city filed it

Despite the pandemic's challenges, TPA successfully supported various City of Toronto (City) initiatives including CurbTO, CafeTO and ActiveTO, and in addition, continued to fully operate Bike Share Toronto, providing safe mobility options and supporting physical distancing for our customers and residents. The COVID-19 pandemic continues to evolve, creating significant revenue and cash flow uncertainty, requiring Toronto Parking Authority (TPA) to proceed cautiously to meet our self-funding mandate, performing only critical activities while investing in the delivery of key strategic initiatives to ensure both employee and customer safety and TPA's long-run financial sustainability.

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While addressing the short-term demands of COVID-19, including modifying operations to support physical distancing, establishing cleaning and safety protocols, addressing vandalism and security issues and deferring non-essential projects and expenditures, the planning of strategic projects was prioritized to replace end-of-life systems and establish a platform for growth and sustainability. Since mid-March, TPA has implemented numerous strategic initiatives designed to enhance customer experience, maximize operational efficiency and modernize our capabilities. These new systems will be further leveraged as TPA seeks to update customer-facing technology in 2021, to provide fast, convenient and easy payment options through enhanced mobile and online services. These key strategic initiatives will support our competitive position and further grow our strong Green P brand through the provision of enhanced parking management services to more City and government agencies and third-party companies. As the City continues to address the pandemic and its challenges, TPA will continue to support and collaborate with other City agencies, including CreateTO and Transportation Services to ensure our pandemic response is coordinated and effective, including seeking further alternative parking supply and opportunities for Bike Share. TPA's 2021 budget recommendation is to support these key strategic growth investments, replacing out-of-date systems, supporting the replacement of lost on-street and off-street parking, ensuring the safety and cleanliness of our facilities, and to recognize the uncertainty of 2021 revenue by removing cash flow risk from the operating budget.

Staff recommended

The Acting President, Toronto Parking Authority recommends that: 1. The Board of Directors of Toronto Parking Authority approve the 2021 Operating Budget and 2021-2030 Capital Budget for Toronto Parking Authority as outlined in this report and forward the 2021 Operating Budget and 2021-2030 Capital Budget for Toronto Parking Authority to City Council. 2. The Board of Directors of Toronto Parking Authority direct that

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the confidential information contained in Confidential Attachments 1 and 2 remain confidential in their entirety, as they pertain to personal matters about identifiable individuals, including municipal or local board employees, and labour relations or employee negotiations, and the security of property belonging to the City or one of its agencies or corporations.

On the record

The item as the City filed it

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