Parking General Fund and Parking Enterprise Fund 2019 Operating Budget Parking General Fund and Parking Enterprise Fund

Fund Summary 2019 proposed Budget for the Parking Enterprise Fund includes: 2019 proposed Budget for the Parking portion of the General Fund includes 2018 2019 Revenue $3,947,284 $4,004,348 Expense $3,594,705 $3,615,281 2018 2019 Revenue $705,720 $739,750 Expense $494,844 $380,617

Parking General Fund Highlights Capital expenditures from the new meters are not present in the 2019 budget, which results in a large decrease in expenditures for the fund. The year-end projection for parking meter citation revenue is down from the budgeted amount in 2018. This is a result of the parking enforcement officer position not being fully staffed in 2018. Included in the budget is the 2019 Parking Study. This study will focus on underutilized on-street parking spaces and ways to make them more accessible to visitors and businesses in Downtown State College. Appropriations are also included to promote new and existing programs to increase the level of positive customer service from our department.

Parking Enterprise Fund The 2019 Parking Study will update the 2015 Parking Study and provide the supply and demand for both public and private parking in Downtown State College. This will provide information that is valuable in determining the need and location for the development of parking in Downtown State College. Projected revenue in 2019 will not change drastically from the 2018 budget. Large increases in revenue in 2017 and 2018 are attributed to rate increases. The debt service for the parking enterprise fund has increased $1.5 million dollars since 2016. This increase is attributed to the debt service from the construction of Beaver Garage and the renovations done to Pugh Garage. The aforementioned rate increases have kept the Parking Enterprise Fund balanced and self sustainable.

2019 Parking Highlights Potential Construction of a new parking structure in a partnership with the Days Inn. Implementation of an Overnight Parking Program for the Highlands neighborhood residents. At the completion of the parking study, the Parking Department will meet with internal and external stakeholders to strengthen current programs and consider implementing new programs.

2019 BUDGET CALENDAR Agenda Item Date Transmittal to Council and Review of Executive Summary October 30, 2018 Review of Parking November 5, 2018 Review of Receipts, Tax, Information Technology, Insurance Reserve, Finance, Administration and Police November 13, 2018 Review of Planning, Regional Programs and Neighborhood and Community Services November 19, 2018 Review of Public Works and Capital Improvements November 20, 2018 Public Hearing December 3, 2018 Final Review and Wrap Up December 10, 2018 Adoption December 17, 2018