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January revenue topped budget as several facilities overperformed, authority says
Summary
Staff reported January operating results: revenues exceeded budget by 3% and expenses were 12% under budget, producing a positive fund balance versus a budgeted loss; increased activity and mobile payments were noted in West Avenue and the SoNo area.
Norwalk Parking Authority staff reported at the February meeting that January revenue exceeded budget by about 3% while expenses were roughly 12% under budget, producing a roughly $54,000 positive change in fund balance compared with a budgeted $31,000 loss for the month.
The transient-parking increase was led by South Norwalk and East Norwalk train-station facilities, staff said, while Maritime Garage, Haviland and North Waterland underperformed. On-street meters and ParkMobile pay-by-phone activity rose in multiple areas; staff singled out West Avenue and the SoNo (South Norwalk) nightlife area for increased meter and on-street activity. Monthly and permit revenue gains were led by South Norwalk Garage, Yankee Doodle Garage and Webster Lot, staff said.
Nut graf: The authority attributed the revenue gains to rising activity in specific commercial and nightlife areas and to increased citation collections, while expense savings came mainly from timing and lower-than-expected maintenance and service costs.
Staff said parking-violation revenue increased due to higher collections on aged balances and greater citation activity in areas including Haviland Street, Webster Lot and some privately managed lots. Savings in January were driven by delayed or unbilled building maintenance (overhead gate and electrical repairs), timing of snow-removal invoices, and prepayment timing for some security contracts. Vehicle expenses were over budget because one authority truck required a transmission replacement in January.
Ending: Staff said some of the maintenance savings will be used to cover upcoming overhead-gate repairs at South Norwalk and Maritime garages and that invoices delayed from January may show up in February results.
