Item - 2026.PA20.1

The President, Toronto Parking Authority recommends that:

1.  The Board of Directors, Toronto Parking Authority, receive this report for information.

Toronto Parking Authority's (TPA) operating income for the six months ended June 30, 2026, was $30.5 million; +$0.4 million versus plan and -$0.3 million versus 2025.

Total revenue was $87.2 million, $0.3 million below plan and $0.5 million above prior year, while combined parking and Bike Share trips reached 14.5 million, 0.9 million below plan and 0.4 million below prior year. Strong Off-Street Parking, Bike Share, and other revenue performance partially offset weaker On-Street 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.

There are no financial impacts from this report.