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<br />•Downtown garage re-opened November 2012
<br />•Parking rate study being conducted with results by the end of 2013
<br />•New parking fee collection system (APARC) to be installed June 2013
<br />•APARC annual maintenance of $10,000 per year
<br />•Building maintenance charges of $61,000 in 2013-14 and $63,000 in 2014-15
<br />•Deficit beginning in 2013-14; revisit parking rates and detailed review of
<br />expenditures during next year’s budget cycle
<br />
<br />Parking Fund 5-Year Forecast
<br />2011-12 2012-13 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19
<br />Parking Fund 132 Actual Adopted Estimated Projected Projected Projected Projected Projected Projected
<br />Beginning Fund Balance 97,630 57,385 82,039 25,807 (39,711) (112,745) (191,188) (275,908) (367,129)
<br />Revenue
<br />Parking Fees 199,923 274,540 250,000 250,000 250,000 250,000 250,000 250,000 250,000
<br />Interest Income 610 700 160 160 160 160 160 160 160
<br /> Total Revenues 200,533 275,240 250,160 250,160 250,160 250,160 250,160 250,160 250,160
<br />Expenditures
<br /> Personnel 155,137 164,053 164,053 160,569 164,690 168,514 173,190 178,075 182,128
<br /> Non-Personnel 60,987 156,339 142,339 155,109 158,504 160,089 161,690 163,307 164,940
<br /> Total Expenditures 216,124 320,392 306,392 315,678 323,194 328,603 334,880 341,381 347,068
<br />Annual Surplus/(Shortfall)(15,591) (45,152) (56,232) (65,518) (73,034) (78,443) (84,720) (91,221) (96,908)
<br />Ending Fund Balance 82,039 12,233 25,807 (39,711) (112,745) (191,188) (275,908) (367,129) (464,037)
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