Stuck waiting for a bus? Crammed onto a crowded streetcar?

Then you may be surprised to learn that Toronto's at risk of letting the federal government claw back $121 million worth of transit funding because the city hasn't managed to spend it.

Mayor John Tory says the city's doing everything it can to use the money in a responsible manner, but his executive committee also voted Tuesday to ask Ottawa to extend the spending deadline.

There is behind the scenes work happening every day that you don't see to maintain the TTC, and it's very necessary work. - Mayor John Tory

"We're really trying hard not to leave any money on the table," Tory told reporters.

Ottawa launched the first phase of its Public Transit Infrastructure Fund (PTIF) — which includes $3.4 billion in spending for municipalities across Canada in the spring of 2016 — with a requirement that local governments match any funding they receive dollar-for-dollar. The catch: the money has to be spent by 2018.

Tory lauds the federal partnership as "unprecedented," but said the city always knew it was up against a tight deadline.

Council approved a list of 87 projects, worth some $856 million, that city staff thought could be completed within the funding window. However, logistics like procurement have slowed things down.

Tory says the money that has been spent is making a difference. The city has purchased hundreds of new buses and is also working on repair work across the city, including improvements that boost accessibility.

"There is behind the scenes work happening every day that you don't see to maintain the TTC, and it's very necessary work," Tory said.

Tory notes other cities are also struggling with the deadline, and thinks extending it is "not an unreasonable request."

City hoping to buy more buses, bikes

The city wants that deadline pushed back to 2020, which would allow it more time to spend a bit more of the remaining money. For example, city manager Peter Wallace suggests in a report that having the deadline extended to early 2019 would allow the city to spend nearly $37 million more on new buses.

The executive committee will also vote on whether to rework its list of potential projects.

Among the proposed changes, the Toronto Parking Authority would get money to buy 750 more BikeShare bicycles, 71 stations and 1,000 docks.

Some $27.8 million will be devoted to studying the downtown relief line. And $3.6 million would go to planning work for waterfront transit.

Those changes require city council approval.