HomeMy WebLinkAbout285-21 RESOLUTIONof FArFrrF
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113 West Mountain Street
Fayetteville, AR 72701
(479)575-8323
Resolution: 285-21
File Number: 2021-0848
PARKING FACILITIES AND SERVICES REVENUE RECOGNITION:
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF
$43,900.00 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 $43,900.00 recognizing
additional revenue and associated expenses for certain parking facilities and services.
PASSED and APPROVED on 1 1/16/2021
Attest: \``���G��R Kr � •T� ��ii
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Kara Paxton, City Clerk Treasut�r! ; �L�E;
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Page 1 Printed on 11117121
City of Fayetteville, Arkansas 113 West Mountain Street
Fayetteville, AR 72701
(479)575-8323
Text File
File Number: 2021-0848
Agenda Date: 11/16/2021 Version: 1 Status: Passed
In Control: City Council Meetinq File Type: Resolution
Agenda Number: A.9
PARKING FACILITIES AND SERVICES REVENUE RECOGNITION:
A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $43,900.00
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 $43,900.00 recognizing additional revenue and
associated expenses for certain parking facilities and services.
City of Fayetteville, Arkansas Page 1 Printed on 11/17/2021
Justin Clay
Submitted By
City of Fayetteville Staff Review Form
2021-0848
Legistar File ID
11/16/2021
City Council Meeting Date - Agenda Item Only
N/A for Non -Agenda Item
10/28/2021 PARKING MANAGEMENT (430)
Submitted Date Division / Department
Action Recommendation:
A resolution to approve a budget adjustment in the amount of $43,900 to recognize additional revenue and
associated expenses for certain parking facilities and services.
Budget Impact:
multiple
Account Number
Parking
Fund
Project Number
Project Title
Budgeted Item? Yes
Current Budget
$
95,000.00
Funds Obligated
$
84,469.29
Current Balance
10,530.71
Does item have a cost? No
Item Cost
$
-
Budget Adjustment Attached? Yes
Budget Adjustment
$
43,900.00
Remaining Budget
V20210527
Purchase Order Number: Previous Ordinance or Resolution #
Change Order Number: Approval Date:
Original Contract Number:
Comments: The financial section totals all expense accounts listed on the budget adjustment.
CITY OF
FAYETTEVILLE
ARKANSAS
MEETING OF NOVEMBER 16, 2021
TO: Mayor and City Council
THRU: Susan Norton, Chief of Staff
Chris Brown, Public Works Director
FROM: Justin Clay, Parking Manager
DATE: 10/28/2021
CITY COUNCIL MEMO
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 $43,900 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. Through September 2021, the following parking facilities exceeded 2020
revenues by 158% 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 PaybyPhone mobile app has increased considerably in 2021.
• Meadow Street Parking Deck leased to the Graduate Hotel: Increase $20,200
• UA West Avenue Annex Lot: Increase $6,000
• Town Center Parking Deck: Increase $1,700
• PaybyPhone: Increase $16,000
BUDGET/STAFF IMPACT:
Staff is requesting to recognize revenue in the amount of $43,900 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:
Budget Adjustment
Mailing Address:
113 W. Mountain Street www.fayetteville-ar.gov
Fayetteville, AR 72701
City of Fayetteville, Arkansas - Budget Adjustment Form (Legistar)
Budget Year Division Adjustment Number
/Org2 PARKING MANAGEMENT (430)
2021
Requestor: Justin Clay
BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION:
A resolution to approve a budget adjustment for $43,900 to recognize additional revenue and associated expenses for
certain parking facilities and services.
RESOLUTION/ORDINANCE
COUNCIL DATE: 1 1 /1 6/2021
LEGISTAR FILE ID#: 2021-0848
Hovy 3lack�
10/28/2021 6:57 AM
Budget Director Date
TYPE: D - (City Council)
JOURNAL #:
GLDATE: 11/16/2021
CHKD/POSTED:
TOTAL
43,900
43,900
v.20211011
Increase / (Decrease) Proiect.Sub#
Account Number
Expense
Revenue Project Sub.Detl
AT
Account Name
2130.430.9130-4426.08
-
20,200
RE
Parking Lot Rent - Hotel Parking Revenue
2130.430.9130-5711.03
14,000
-
EX
Parking Transfer - Transfer to Hotel
2130.430.9130-5711.01
6,200
-
EX
Parking Transfer - Dickson Imp Dist
2130.430.9131-4426.53
-
6,000
RE
Parking Lot Rent - Lot 53 West Annex
2130.430.9130-5711.04
6,000
-
EX
Parking Transfer - University of Arkansas
2130.430.9130-4426.10
-
1,700
RE
Parking Lot Rent - Lot 10 Town Center
2130.430.9130-5711.02
1,700
-
EX
Parking Transfer - Town Center Deck
2130.430.9131-4410.01
-
16,000
RE
Parking Meter Revenue - Entertainment 1
2130.430.9131-5315.00
16,000
-
EX
Contract Services
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