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Colonial Parking: May revenues top budget as borough moves to shorten daytime paid hours and test Express Pay
Summary
Colonial Parking reported May garage revenues of $254,000, above the $208,000 budget, and the West Chester Parking Committee approved a one-year trial of FlashExpress Pay while preparing to implement new daytime paid hours of 6 a.m. to 6 p.m.
Colonial Parking reported May garage revenues of $254,000, exceeding the budgeted $208,000 and last May's $236,000, and committee members approved a one-year trial of Flash Express Pay for garage users.
The report came from Chris Hankins of Colonial Parking, who said, "May was a good month Total revenues were $254,000 which was significantly above the budget number of 208,000 and ahead of last, year the same month last year of $236,000." He added that year-to-date revenue was $1,071,000 and that net operating income for the month was $206,000, both ahead of budget.
Why it matters: higher-than-expected garage revenue affects the borough's parking fund outlook and informs near-term policy changes the committee plans to implement, including shortened paid daytime hours and new payment technology.
Hankins gave…
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