PARKING FUND
A Parking Authority was formed in fiscal year 1991-92. The Authority is composed of seven members; three business owners or spouse, three property owners or spouse, and the Village Manager. Under this structure, a portion of the operating costs for maintaining downtown parking lots are paid from meter receipts, with the balance paid by special assessments levied against property owners in the district. The proposed budget includes a base fee of $140.00 per parcel, and a per-deficiency fee of $55.00 per space.
The fund pays a portion of the ordinance officers’ wages, fringe benefits, and vehicle costs, as well as Department of Public Services' labor, fringes, and equipment rental costs for maintaining the lots (sweeping, striping, snow removal, etc.). Money is included under capital outlay to either repair the east parking lot to install the necessary infrastructure for replacing the dumpsters in the parking lots with compactors.
| REVENUE: |
|
| Special Assessments |
$27,275 |
| Parking Meter Receipts |
35,000 |
| Interest on Investments |
750 |
| Appropriation from Fund Balance |
23,450 |
| Total Revenue |
$86,475 |
| EXPENSE: |
|
| Wages and Fringe Benefits |
$35,550 |
| Operating Expenses |
14,925 |
| Capital Outlay |
36,000 |
| Total Expense |
$86,475 | | 
