Toronto's transit system is set to roll out service improvements and upgrades this fall while running a major budget shortfall, sparking fears of more fare hikes to pay for the changes.

In the fall 150 new environmentally-friendly hybrid busses plus more off-peak surface routes will be available to Toronto Transit Commission riders. The TTC will also add thousands of surveillance cameras to busses, streetcars and subway trains in an effort to beef-up security.

Add to that, there is the recent revelation that the transit system will run a $1 billion deficit over the next five years.

But TTC vice-chair Adam Giambrone said he can almost guarantee no fare hike this year.

"We may consider a fare increase in the future," Giambrone said.

Fares to ride the rocket have gone up three times in the last 18 months.

The last hike came into effect April 1, pushing cash fares up 25 cents to $2.75 for a single trip. Tickets and tokens also went up a dime to $2.10 per trip and Metropasses went up a dollar to $99.75.

The decision to raise fares was made as the TTC was tackling a budget shortfall due in part to cuts by city hall.

This time the commission is pointing a finger towards the provincial government, saying fare increases will only make up a fraction of the $200 million per year needed over the next five years.

"(Fare increases are) not where we're going to find the money," Giambrone said. "The money ultimately has to come from the province."

He added that he feels optimistic that Queen's Park will come through with the extra cash.

With a report from CTV's Alicia Kay-Markson