OC Transpo runs $4.6M deficit in 2010

Buried in an article on 580 CFRA about the city running a $16M surplus last year was the revelation that OC Transpo had to pull from its capital reserves to make up for a $4.6M budget deficit in 2010.

I'm sure we'll hear more about it in the coming days, notably explanations for the shortfall. In August, the utility predicted a $4.7M revenue shortfall, so I guess that's a plus.