Yesterday, I was interviewed on CIUT about the TTC’s Capital Budget, and was on the air right after TTC Chair Adam Giambrone.  An issue raised for both of us was my claim that the TTC has just discovered that it has nearly a billion dollars worth of projects that are not only “below the line” (unfunded) but not even in the budget.

(See the previous article in this series, and scroll down to Surprise Projects.)

Giambrone replied that, yes, the TTC knew about these costs and they were in the budget.  Well, no, they are not.  I spent a few hours this morning combing through the budget books, again, checking on these and other items. Continue reading →