Toronto's Nathan Phillips Square might be one of the city's most Instagrammable spots thanks to the multi-coloured Toronto sign that popped up in time for the Pan Am Games last year. But even though it has 122 million global social media impressions, as the Toronto Star reports, its future might be a little wary.

According to the Star, however, the city council hasn't been to agree on a concrete, longterm funding plan to ensure the sign sticks around.

Since the current sign is temporary, it'll need to be either replaced or maintained. Council also floated around the idea of creating a new, smaller mobile sign that'd travel to different locations throughout the city ($100,000 to build it and $100,000 to maintain and move it around).

Back in May, city council deferred the item related to the Toronto sign back to the Economic Development Committee, which will debate it on Wednesday, June 22.

Photo by Empty Quarter via the blogTO Flickr pool.