As Toronto’s mayor-elect prepares to officially take office next week, Andy Byford likes what he’s heard thus far.

The TTC’s CEO already met with John Tory this week, even appearing beside him during the incoming mayor’s state of the city address held earlier this week. Today, following a lunchtime speech at the Toronto Region Board of Trade, Byford renewed his praise and confidence in Tory as someone who will act in the best interests of the transit commission, starting with restoring service to TTC bus routes after cuts were made during Mayor Rob Ford’s tenure in 2011 and 2012.

"It shows the importance he assigns to public transit," said Byford following his remarks to a room of business professionals at the Board’s downtown headquarters. "We’re very keen to do what he talked about yesterday, which is restoring the service which was cut."

Byford was hopeful Tory’s positive relationship with the province, as well as the federal government, will result in much-needed funding coming the cash-strapped TTC’s way.

"Mr. Tory seems to be a man of action and he’s staked his reputation, I think, on the fact he’s got those links with Ottawa and Queen’s Park," he said. "He certainly gets it, he uses public transit, so I feel very encouraged right now."

With Tory seemingly on board with the TTC’s budgetary transit asks, including money for all-door streetcar boarding and more transit fare inspectors, Byford said the transit commission is in the process of finalizing its own numbers ahead of January’s budget debate.

The TTC will first present its 2015 operating budget including Wheel-Trans operations, to a new board of directors and chair in December. It will then be presented to council for final approval.

During his 45-minute speech, Byford listed several milestones achieved in 2014 including Presto card service which, as of this Sunday, will be available on the two new Spadina line streetcars.

Byford also promised to reduce TTC delays by half – on all of its routes – within five years.

"My challenge to my team in 2015 will be to draw up an aggressive budget to relentlessly drive down delays," he said.

Byford also reiterated the call for more funding – no matter the source.

"I don’t care where the money comes from, I don’t care if we win the Lotto, all I know is the TTC needs more money," he said.

Byford’s speech also had some humorous moments including his reaction to an email he recently received expressing wonderment at his upbeat attitude despite overseeing "the steaming pile of dog vomit that is the TTC."

"I have to say I didn’t respond to that one straight away," said Byford as the audience guffawed.

"But my answer would have been, I am convinced we are doing the right things and laying the right foundations. We have the right focus and I’m absolutely convinced we can transform the TTC."