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

2. 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

3. 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.

4. 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.

5. 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.

6. 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