Toronto Parking Authority - 2024 Audited Financial Statements

In 2024, Bike Share Toronto attracted over 40,000 members (+5,000 v 2023) and achieved ridership of 6.9 million (+1.2 m v 2023) marking a nearly 300 percent increase in ridership since 2019. Toronto Parking Authority's electric vehicle (EV) charging network, which now comprises over 450 chargers, places Toronto Parking Authority as the operator of the largest municipally owned EV charging network in Canada. This network attracted over 20,000 unique customers and generated over $1.1 million in revenue. A summary of key accomplishments achieved in 2024 will be presented at the May 15, 2025, Board meeting through Toronto Parking Authority's 2024 Annual Report. KPMG LLP has completed their audit of Toronto Parking Authority's financial statements for the year ended December 31, 2024, and has delivered a clean audit opinion. A draft of the financial statements along with a copy of KPMG's year-end report to the Audit and Risk Management Committee is provided in Attachments 1 and 2. The financial statements continue to be marked as draft pending approval by the Toronto Parking Authority Board of Directors. KPMG Audit Partner, Kevin Travers, will attend the Audit and Risk Management Committee meeting to provide a summary on significant accounting and financial reporting matters dealt with during the audit process.