Performance trends

Why is this measure important?

Parking Management Cost-Efficiency is crucial to assess the fiscal viability of the Public Parking Program. This measure tracks the operating performance of the program and provides insight into public parking supply, demand and pricing.

Factors contributing to current performance

The increasing cost ratio is a result of loss in revenue due to the Ad-Valorem Tax rate being set to zero in FY16. This change is projected to continue into future years. It should also be noted that the decrease in parking fees in FY18 was the result of a one-time payment of $1.6M we received in FY17.

Factors restricting performance improvement

  • The largest factor in the generation of revenue is office space leasing rates in the Parking Lot Districts (PLDs). Higher leasing rates directly correlate to higher parking utilization. Given fixed parking rates, higher utilization results in higher revenue.
  • Improvements in convenient parking payment options such as pay-by-cell and use of credit cards at all parking meters has improved parking payment compliance. This trend has negatively impacted fine revenues generated with no reduction in operating expenditures for enforcement activities.

Performance improvement plan

The performance improvement plan encompasses revenue capture initiatives such as diligent enforcement of parking violations and convenient payment options for parking fee revenue. The performance plan also includes cost-efficiencies in the operation of County owned facilities such as implementation of LED lighting program to save on utility costs.

SUPPORTING MEASURES

Parking management revenues

Parking management expenditures