With its emergency reserve funds set to be empty by the end of next month, London Transit Commission (LTC) board members will decide Wednesday whether to ask the city for a lifeline to help offset the financial impacts of COVID-19 and avoid significant service cuts should support from upper levels of government fail to materialize.
The commission has already shed $3.15 million to date because of the health crisis, and is expected to lose another $2 million each by the end of May and the end of June, putting the commission in the red, transit officials say in a recent report.
The budget shortfalls are largely, if not entirely, due to lost revenue brought on by rear-door, free-fare boarding, something the commission is being recommended to