Staff Report #13
April 27, 2026
To All Commissioners
Re: Financial Update – Specialized Transit Services – Operating Budget – March 31, 2026
Recommendation
That the report be RECEIVED for information.
Background
Set out in the table below is the Statement of Operations for Specialized Transit Services for the three-month period ending March 31, 2026. The statement sets out actual to budget performance for the period.
London Transit Commission Statement of Operations – Specialized Transit Services Three Months Ending March 31, 2026 (000’s omitted)
| Description | Actual | Budget | Amount Better (Worse) | Percent Better (Worse) | |
| Revenue | |||||
| Transportation | $ 235.8 | $ 231.7 | $ 4.1 | 1.8 % | |
| City of London | 3,965.3 | 3,965.3 | – | 0.0 % | |
| Total revenue | 4,201.1 | 4,197.0 | 4.1 | 0.1 % | |
| Expenditure | |||||
| Personnel cost | 431.4 | 443.0 | 11.6 | 2.6 % | |
| Contract service cost | 3,646.9 | 3,680.5 | 33.6 | 0.9 % | |
| All other material expense | 59.6 | 73.5 | 13.9 | 19.0 % | |
| Total expenditure | 4,137.9 | 4,197.0 | 59.1 | 1.4 % | |
| Net favourable/(unfavourable) | $ 63.2 | $ – | $ 63.2 | 1.5 % | |
As indicated in the above table, the service has a net favourable operating budget performance to date of 1.5% or $63,200. An explanation of the variances is set out below.
Net Operating Costs
- favourable personnel costs of $11,600 due to timing of vacancies and less than anticipated overtime;
- favourable contract service costs of $33,600 mainly due to the slight shortfall in service hours delivered, noting these favourable service hours will be applied to off-peak hours during the remainder of the year to ensure budgeted hours are fully utilized; and
- favourable other material expenses of $13,900 due mainly to the timing of administrative expenditures.
Ridership
The following table sets out actual to budget ridership and other performance related measures as well as a comparison to the same period in the previous year.
Ridership and Other Statistics Actual vs. Budget Three Months Ending March 31, 2026 (000’s omitted)
| Description | Actual | Budget | Variance | % Variance | 2025 Actual | % Variance | |
| Eligible passenger trips | 87,709 | 84,900 | 2,809 | 3.3 % | 74,787 | 17.3 % | |
| Attendant/companion trips | 9,659 | 9,700 | (41) | (0.4)% | 9,016 | 7.1 % | |
| Total Trips | 97,368 | 94,600 | 2,768 | 2.9 % | 83,803 | 16.2 % | |
| Average fare | $ 2.422 | $ 2.449 | $ (0.028) | (1.1)% | $ 2.461 | (1.6)% | |
| Service Hours | 49,454 | 49,682 | (228) | (0.5)% | 45,739 | 8.1 % | |
| Total trips per service hour | 1.97 | 1.90 | 0.07 | 3.4 % | 1.83 | 7.5 % | |
As indicated in the previous table, total trips were 2,768 rides greater than budget. This variance is primarily the result of rides per service hour being higher than budget (3,216 trips) and fewer service hours than budgeted being provided (448 trips).
Administration will continue to monitor the operating budget performance reporting on same monthly, including providing recommendations as may be appropriate.
Recommended by:
Mike Gregor, Director of Finance
Concurred in by:
Kelly S. Paleczny, General Manager