ACTUAL
PROJECTIONS
PARKING FUND 3-YEAR PROJECTION WITH NEW RATES
AND HOUR SCHEDULE
FY2022-2023 FY2023-2024 FY2024-2025 FY2025-2026
REVENUE $8,000,0001 $7,576,0002 $7,926,0005 $8,987,0006 EXPENSES $7,219,000 $8,559,0003,4 $7,492,000 $7,738,000 NET GAIN/LOSS $781,000 ($983,000) $434,000 $1,249,000
1 Includes $1,500,000 ARPA Funds allocated in February 2023 2 Implementation of Parking Rates and Hour Schedule could take 3- 5 months, so revenues might be adjusted lower
3 Includes $620,000 1st year implementation costs (labor for expanded hours, signage, public outreach) 4 Removed $190,000 for LED Lighting project, no other Capital Improvement projects in the 3- year projections
5 Downtown 24/7 and Unreserved Weekday Permits increase by $15/month and Reserved Weekday Permits by $20/month
6 Flat Rates and Special Event Rates increase by $5