Toronto Parking Authority - 2026 June 30 Year-to-Date Financial Performance (First Six Months Results)

Bike Share exceeded ridership targets, successfully supported FIFA events through enhanced valet services, and remains on track for another record ridership year. On-Street revenue was $31.4 million, $2.3 million below plan, driven by 0.9 million fewer trips, primarily due to two major winter snow events and FIFA-related road closures in June. Based on strong post-winter trends, management expects the revenue gap to close by year-end. Total operating costs were $56.8 million; $0.7 million lower than plan driven by reduced volume-related costs, warranty cost reductions on legacy parking equipment, and indirect costs stemming from headcount savings. As of June 30th, 2026, Toronto Parking Authority has spent $17.0 million in capital projects, with another $28.0 million already committed through purchase orders. Building on the momentum from past three years of 80 percent plus spend rate, we are on track to deliver 95 percent or more of the Toronto Parking Authority led capital plan of $42.5 million. Management is forecasting to deliver on plan full-year 2026 financial performance targets.