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Parking fund posts small surplus as second garage opens and permit sales begin
Summary
Staff reported the parking fund exceeded spending by roughly $50,000 and said permit sales in the new garage are already underway, with about half of available permits sold so far.
Staff reported the parking fund’s midyear revenue exceeded spending by about $50,000, with revenue at roughly 43% of budget and expenditures only 11% because maintenance needs have been light. Presenter Andrea said she expects revenue to increase now that the second garage ramp has opened and permits are being issued.
On permit sales Andrea said of the roughly 100 permits available in the second building, about half have been sold, which should result in a revenue uptick as both garages become fully operational.
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