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Infrastructure - Parking Fund
BUDGET HIGHLIGHTS
The FY 15-16 Budget for the Parking Fund is increasing by $387,657, or 15.3%.
Three positions from the General Fund are being reallocated to other funds based on time allocation. Two
of the positions, totaling .75 FTE, are being partially allocated to the Parking Fund at a cost of $58,485.
Based on the recommendations of an outside consultant, the City is increasing on-street and surface lot
hourly rates and increasing monthly parking rates to prepare for capital and maintenance needs and to be
more in line with peer city rates. The City is maintaining hourly deck rates. The rate increases will result in
approximately $450,000 in additional parking revenue in FY 15-16.
An enhancement in FY 15-16 will provide an additional parking enforcement vehicle to help improve
parking enforcement throughout downtown. The enhancement is being funded through the reduction of
contract enforcement personnel, which will provide additional savings beyond the cost of the new vehicle.
The net savings will be $1,500 in FY 15-16 and $30,000 in FY 16-17.
The FY 15-16 Budget includes approximately $700,000 in structural repairs and elevator upgrades at the
Greene Street Parking Deck and Bellemeade Parking Deck.
BUDGET SUMMARY
2013-14
2014-15
2015-16
2016-17
Actual
Budget
Adopted
Projected
Expenditures:
Personnel Costs
545,976
657,870
759,169
789,899
Maintenance & Operations
1,120,712
1,882,154
2,140,012
1,906,726
Capital Outlay
0
0
28,500
0
Total
1,666,688
2,540,024
2,927,681
2,696,625
Total FTE Positions
11.000
13.000
13.750
13.750
Revenues:
Parking Fees
2,228,135
2,175,000
2,644,535
2,684,625
All Other
30,242
12,000
12,000
12,000
Appropriated Fund Balance
232,485
353,024
271,146
0
Subtotal
2,490,862
2,540,024
2,927,681
2,696,625
General Fund Contribution
0
0
0
0
Total
2,490,862
2,540,024
2,927,681
2,696,625