HomeMy WebLinkAbout202-23 RESOLUTION113 West Mountain Street
Fayetteville, AR 72701
(479) 575-8323
Resolution: 202-23
File Number: 2023-1048
RECOGNIZE PARKING FACILITIES REVENUE AND EXPENSES (BUDGET ADJUSTMENT):
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $86,500.00 RECOGNIZING
ADDITIONAL REVENUE AND ASSOCIATED EXPENSES FOR CERTAIN PARKING FACILITIES AND
SERVICES
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment, a copy of
which is attached to this Resolution, in the amount of $86,500.00 recognizing additional revenue and associated
expenses for certain parking facilities and services.
PASSED and APPROVED on September 19, 2023
Page 1
Attest:
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Kar Paxton, City Clerk Treasurer M - •
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ON
CITY OF
FAYETTEVILLE
ARKANSAS
MEETING OF SEPTEMBER 19, 2023
CITY COUNCIL MEMO
2023-1048
TO: Mayor Jordan and City Council
THRU: Susan Norton, Chief of Staff
Chris Brown, Public Works Director
FROM: Justin Clay, Parking Manager
DATE:
SUBJECT: Recognize additional revenue and associated expenses for certain parking facilities
and services and approve a budget adjustment
RECOMMENDATION:
Staff is requesting approval of a budget adjustment in the amount of $86,500 to recognize additional revenue
and associated expenses for certain parking facilities and services.
BACKGROUND:
The City manages certain parking facilities that are owned or leased to third parties, collects revenues for
those facilities, and transfers the net revenues to the owners/lessees of those parking facilities.
DISCUSSION:
Through July 2023, the following parking facilities are on pace to exceed projected revenues, necessitating a
budget adjustment to recognize the expected additional revenue and the off -setting expenses for the transfer
of revenue for the remainder of the year. In addition, the utilization of the ParkMobile app has increased
considerably in 2023 with more users adopting this convenient method of payment.
Town Center Parking Deck: Increase $10,000
Gregg Avenue Lot: Increase $30,000
ParkMobile: Increase $46,500
BUDGET/STAFF IMPACT:
Staff is requesting to recognize revenue in the amount of $86,500 for these parking facilities and services. The
increase in revenue will offset the associated expenses related to the transfer of these net revenues back to
each entity.
ATTACHMENTS: 2023-1048 BA Parking Revenue, RES - Budget Adjustment Parking Revenue
Mailing address:
113 W. Mountain Street www.fayetteville-ar.gov
Fayetteville, AR 72701
== City of Fayetteville, Arkansas
y 113 West Mountain Street
Fayetteville, AR 72701
(479)575-8323
- Legislation Text
File #: 2023-1048
Recognize additional revenue and associated expenses for certain parking facilities and services
and approve a budget adjustment
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $86,500.00
RECOGNIZING ADDITIONAL REVENUE AND ASSOCIATED EXPENSES FOR CERTAIN
PARKING FACILITIES AND SERVICES
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,
ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget
adjustment, a copy of which is attached to this Resolution, in the amount of $86,500.00 recognizing
additional revenue and associated expenses for certain parking facilities and services.
Page 1
City of Fayetteville, Arkansas - Budget Adjustment (Agenda)
Budget Year Division PARKING MANAGEMENT (430) Adjustment Number
7n73 I
/Org2
Requestor: Justin Clay
BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION:
A resolution to approve a budget adjustment for $86,500 to recognize additional revenue and associated expenses for
certain parking facilities and services.
COUNCIL DATE: 9/19/2023
ITEM ID#: 2023-1048
Holly Black
8/30/2023 3:04 PM
Budget Division Date
TYPE: D - (City Council)
JOURNAL #:
GLDATE:
RESOLUTION/ORDINANCE
CH KD/POSTED:
TOTAL
86,500
86,500
v.202388
Increase / (Decrease) Project.Sub#
Account Number
Expense
Revenue Project Sub.Detl
AT
Account Name
2130.430.9130-4426.10
-
10,000
RE
Parking Lot Rent - Lot 10 Town Center
2130.430.9130-5711.02
10,000
-
EX
Parking Transfer - Town Center Deck
2130.430.9130-4426.70
-
30,000
RE
Parking Lot Rent - Gregg Ave Lot
2130.430.9130-5711.01
30,000
-
EX
Parking Transfer - Dickson Imp Dist
2130.430.9130-4410.00
-
15,000
RE
Parking Meter Revenue - Base
2130.430.9130-5315.00
15,000
-
EX
Contract Services
2130.430.9131-4410.01
-
26,000
RE
Parking Meter Revenue - Entertainment [
2130.430.9131-5315.00
26,000
-
EX
Contract Services
2130.430.9132-4426.14
-
5,000
RE
Parking Lot Rent - Spring St Municipal Par
2130.430.9132-5315.00
5,000
-
EX
Contract Services
2134.430.9134-4410.00
-
500
RE
Parking Meter Revenue - Base
2134.430.9134-5315.00
500
-
EX
Contract Services
\\city\dfs\Divs\Utilities\Justin\Legistar Miscellaneous\Revenue Increase BA 2023\BA for 2023 Revenue Increase_8.24.23 1 of 1
RESOLUTION NO.
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF
$86,500.00 RECOGNIZING ADDITIONAL REVENUE AND ASSOCIATED EXPENSES
FOR CERTAIN PARKING FACILITIES AND SERVICES
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,
ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget
adjustment, a copy of which is attached to this Resolution, in the amount of $86,500.00
recognizing additional revenue and associated expenses for certain parking facilities and
services.
PASSED and APPROVED this 19t1i day of September, 2023.
APPROVED:
ATTEST:
LIONELD JORDAN, Mayor KARA PAXTON, City Clerk/Treasurer