Item - 2026.PA19.4

The Board of Directors of the Toronto Parking Authority:

1.  Received the report (May 8,2026) for the President, Toronto Parking Authority on Toronto Parking Authority for information.

Toronto Parking Authority's (TPA) operating income for the three months ended March 31, 2026, was $11.2 million; -$1.4 million versus plan and -$0.9 million versus 2025.

Total revenue was $37.6 million, -$2.4 million versus plan and -$1.4 million versus prior year, while total trip volumes were 5.7 million, -0.9 million versus plan and -0.6 million versus prior year. Negative performance driven by softness in our On-Street parking portfolio.  On-Street revenue was $13.8 million, -$2.6 million versus plan due to 0.8 million fewer trips caused by winter storm closures. Excluding On-Street, top line revenue was +0.1 million better than plan and +$1.5 million versus 2025.

Total operating costs was $26.4 million; $0.9 million lower than plan driven by reduced volume-related costs, warranty cost reductions on legacy parking equipment, and head count savings.

As of March 31, 2026, Toronto Parking Authority has spent $3.9 million in capital projects, with another $34.2 million already committed. Building on the momentum from past three years of 80%+ spend rate, we are on track to deliver 95% 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.