On August 10, 2007, the City of Toronto announced cost containment measures that would require immediate service-level adjustments and reduce the 2008 operating budget shortfall by at least $83 million.

As part of the cost containment process requested by Mayor David Miller last month, City Manager Shirley Hoy and her management team have identified more than $34 million in operating budget reductions that will be put in place for the remainder of 2007.