Originally anticipated to be $89 million back in the spring, Calgary Transit said its most recent estimates have pegged the revenue loss for 2022 at $64 million.
Higher than anticipated ridership on Calgary Transit has reduced the service’s projected revenue shortfall for the year as there are questions over sustainable funding options moving forward.
According to Calgary Transit, the shortfall was covered by emergency funding from the provincial and federal governmentsMayor Jyoti Gondek confirmed in December that another request for funding was made to the federal government by municipalities across the country at the Big City Mayors’ Caucus meetings late last year.“We were assisted in the past on covering some of the operating costs that we couldn’t manage on our own,” Gondek told reporters on Dec. 15.
However, federal officials pointed to past pandemic funding, increases to the Canada Community-Building Fund and an annual $3 billion permanent transit fund scheduled to begin in 2026.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Calgary permits office returns to Municipal Building following summer break-in - Calgary | Globalnews.caFive months after an impromptu relocation due to a break-in and fires, Calgary's planning services office will return to the Municipal Building downtown.
Read more »
Carjacker allegedly pulls knife on dealership employee during test drive in Calgary - Calgary | Globalnews.caA southeast Calgary car dealership employee is shaken up after he was allegedly held up by a carjacker during a test drive early Monday afternoon.
Read more »
2022 in review, Part 2: Kenney resigns as UCP leader; Pope visits Canada, apologizesPostmedia journalist Bill Kaufmann looks at social, political, cultural events and more that made news in the middle four months of 2022.
Read more »
Deadly Scarborough shooting raises city's 2022 murder tally to 70A man was gunned down in an underground parking garage in Scarborough Friday evening.
Read more »
Storms, sharks and shorelines: A look back at some of P.E.I.’s major climate-related events of 2022 | SaltWire2022 saw P.E.I.'s biggest storm in recorded history
Read more »