Toronto Parking Authority - Financial Performance for the Year Ended December 31, 2022 (Unaudited)

The Public Gallery wrote no story on this item. What follows is the city’s own record of what happened to it, as filed: nothing on this page is summarised or scored by us.

The decision

2023-03-03 · Toronto Parking Authority · adopted

As filed

The Board of Directors, Toronto Parking Authority: 1. Received the report (February 16, 2023) from the President, Toronto Parking Authority for information.

On the agenda

As the city filed it

Toronto Parking Authority's net income for the year ended December 31, 2022 was $31.4 million; $17.0 million higher to plan. Total revenue was $129.2 million; $8.9 million higher to plan as parking revenues improved to 76.2 percent versus pre-pandemic levels (2019). Costs were $97.7 million; $8.2 million lower to plan primarily due to a deliberate management strategy of conserving expenditures including staffing level management reflecting the uncertainty of the recovery in the first half of 2022.

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The December 31, 2022 Audited Financial statements will be presented at the May 2023 Board meeting.

Staff recommended

The President, Toronto Parking Authority recommends that: 1. The Board of Directors, Toronto Parking Authority, receive this report for information.

On the record

The item as the City filed it