UPDATED: The Toronto Star reported on January 12th that the Executive Committee reversed some of the decisions by the Budget Committee including lowering the cut to the Toronto Public Library by $3.1M. http://www.thestar.com/news/article/1114640--toronto-budget-rob-ford-allies-reject-proposed-cuts-to-arts-and-library?bn=1
The Board had offered 5.9% of cuts totally $10M. The Budget Committee voted on Monday to force the Board to choose how to come up with an additional $7M in cuts. The full Council has not yet voted and they may reverse the decision of the Budget Committee.
The likely cuts to meet the $7M, as reported in The Toronto Star are: "Chief librarian Jane Pyper says the only realistic options are cutting branch hours and the collections budget, or eliminating services such as literacy programs and the Bookmobile."
The Budget Committee continues to meet.