A wish list to improve the Toronto Transit Commission, which includes all-door boarding on streetcars and creating a time-based fare system, has been approved by the board and will be discussed during the 2015 budget process.

The service plan report, which was approved Monday afternoon during a TTC board meeting, says implementation would cost $19 million next year, and will increase up to $69 million annually by 2018. The capital cost for the project is estimated to be $288 million spread out over five years.

While the funding details for the multimillion TTC improvement plan won't be discussed until a new council and mayor are elected in the fall, TTC CEO Andy Byford said it was important for them to lay out their agenda.

"I'm very pleased that the TTC board has approved in principal the recommendation that were put forward," he told reporters at City Hall Tuesday afternoon. "If we don’t take steps to improve the customer experience now, the TTC will just slowly decline."

The proposal was backed by mayoral candidates Olivia Chow, David Soknacki and Karen Stintz. Their rival John Tory called the report "not responsible" on Monday, saying that a thorough discussion of how the plan will be funded is needed.

But on Tuesday, Tory applauded the board's decision to have the report part of the 2015 budget debate.

"I'm glad that the TTC Board agrees with that rushing through a half a billion dollar wish list with absolutely no financial plan is not the way to run any public agency, let alone the TTC," Tory said in a statement.

Earlier on Tuesday, Ford also showed support for the TTC, saying he supports most of the measures identified in the report.

"We must begin as soon as possible to improve and expand TTC service now," Ford told reporters at his campaign headquarters. "Today, I'm committed to fund service improvements in my next term."

He said he would pay for the improvements by not increasing fares or property taxes, but by re-allocating $30 million of the $100 million he previously identified in savings.