Toronto has recorded a $99 million surplus for the six-month period ended June 30, 2013 it has been announced. Projections indicate that the year-end net surplus is anticipated to be $58.544 million. Higher than planned revenues for Toronto Building, mainly from a sustained high volume of permit application intake and lower than planned Ontario Works caseload costs, plus under-spending in salaries and benefits due to unfilled staff vacancies, has resulted in City operations being under-spent by $28.553 million or 3.2 per cent at June 30, 2013. Higher than planned revenue from the Municipal Land Transfer Tax and Third Party Sign Tax also contributed to the net variance.
