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Committee backs parking-division appropriation; treasurer details revenue, reserves and community programs
Summary
Treasurer Adam Lane presented Board Bill 22, an ordinance for the Parking Division’s operating and capital appropriations. The committee gave the bill a due-pass recommendation after Lane outlined revenues, reserves, a statutory 40% transfer to the general fund and programs funded by parking revenue, including the Office of Financial Empowerment.
Treasurer Adam Lane told the Public Infrastructure and Utilities Committee on June 11 that the Parking Division operates as an enterprise fund that does not use general tax dollars and that, by state statute, about 40 percent of parking-division profits are transferred to the city’s general fund.
Lane, the city treasurer, reviewed FY25 performance and a proposed FY26 budget tied to Board Bill 22, an ordinance to appropriate operating expenses, capital costs, lease-purchase agreements and debt service for the Parking Division. He said the division manages on- and off-street meters, about 15 garages and lots, and the parking enterprise’s budgeted revenue was roughly $20,000,000 with expenditures…
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