The Société de transport de Montréal (STM) is implementing an C$18 million (US$13 million) plan to reduce one-time expenses as discussions with its leadership continue to finalize the 2023 budget.
“The STM teams have been working hard to identify ways to reduce expenses for 2023 and to assess options for potential recurring savings in future years,” said Eric Alan Caldwell, chair of the STM Board of Directors. This process shows the willingness of the STM to find specific solutions to its shortfall. Despite all the efforts made, I would like to reiterate the urgent need to review the funding of public transit agencies, so they can rely on indexed and recurrent funding sources.”
C$18 million (US$13 million) expense reduction plan
The 2023 expense reduction plan is the result of several internal initiatives to review processes and resources that have identified potential savings of approximately C$18 million (US$13 million). The plan puts the new STM shortfall at C$60 million (US$44 million).
The identified expense reduction measures will not affect services. The STM is focusing all of its strategic efforts on its primary mission: To provide all Montrealers with attractive, reliable, fast, user-friendly, safe and accessible public transportation.
In 2022, the STM had also managed to identify C$18 million (US$13 million) in potential one-time savings through a review of its internal operations and maintenance processes.
