FY27 Proposed Budget

P arking Fund The Parking Fund accounts for the activities of the City’s park ing operations. The Parking Fund is an enterprise fund and is a fully self-sustaining business-like activity. Revenues are primarily derived from parking meter revenue, parking ramp revenue, and parking fines. Fund Balance: The Parking F und’s unassigned fund balance on June 30, 2025 was $2,282,288, a $619,877 or 37.3% increase from fiscal year 2024. The Parking Fund experienced sudden and significant revenue loss starting in March 2020 when the pandemic hit. In fiscal year 2025, parking revenue surpassed pre pandemic levels for the first time.

In fiscal year 2026, the revised unassigned fund balance is estimated to increase by $194,100 or 8.5%.

(1)-FY26 - FY28 figures are estimates.

The fiscal year 2027 unassigned fund balance is expected to decrease by $44,700 or 4.2%. This decrease is projected due to lower hourly ramp parking and metered parking in fiscal year 2027.

This assigned fund balance in fiscal year 2027 represents $789,534 held in capital reserves and $303,702 in restricted parking impact fees.

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