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Old Pasadena Parking Meter Fund Shows Revenue is Trending Down, But Expenses Remain Within Budget

Published on Monday, January 18, 2021 | 5:00 am
 

With Pasadena residents staying home and limiting outdoor access, some might wonder just how much money parking meters have generated for the city. 

The Old Pasadena Parking Meter Zone Advisory Commission (OPPMZAC) on Thursday will review the updated fund appropriations report for the Old Pasadena Parking Meter Fund during its regular meeting, giving the commission an opportunity to see how the fund has been affected by COVID-19 restrictions.

The virtual meeting begins at 11 a.m.

Pasadena Transportation Director Laura Rubio-Cornejo is expected to present a report on the fund’s revenue and expenses last year. A preliminary report by her department is showing that revenue continues to trend 45 percent, or about $940,000, below budget, based on data through Dec. 31 

Old Pasadena meter revenue is down 41 percent ($429,400) for the first half of fiscal year 2021 compared to last year, while revenues for Old Pasadena garages are down 61 percent ($1,227,000). In accordance with changes in restrictions to Safer at Home orders, meter revenue has shown a gradual decrease from October through December, the report showed. 

“Staff will continue to closely monitor revenue through June to end fiscal year 2021, and for forecasting purposes anticipates revenues will not return to pre-COVID levels in FY22,” the report said. 

As for expenses, the department said these are estimated to end fiscal year 2021 within budget, based on the data. 

An appropriations report of the fund shows the city approved $200,000  in July and October to assist local restaurants in Old Pasadena in the rental of barriers through Jan. 18 for outdoor dining. 

“Staff recommends holding off on any unnecessary expenses to offset the decrease in revenue expected this year and into fiscal year 2022,” the report said. “There are no FY 2021 annual contributions to the reserves for operations and meter replacement but this can be revisited next fiscal year. “

The preliminary report also showed that the fund is estimated to end fiscal year 2021 with a balance of $766,315, which consists of $166,315 that will be available for appropriations, and $600,000 in reserves for operations and meter replacement. 

The Transportation Department said it hopes revenue could return to pre-COVID-19 levels now that vaccines are being distributed. At the same time, department officials said they will “continue to remain vigilant of expenses” until the pandemic has stabilized. 

To access the OPPMZAC meeting online, go to https://us02web.zoom.us/j/82822179230

Public comments may be sent by email to dbeacham@cityofpasadena.net prior to the day of the meeting, or through www.cityofpasadena.net/commissions/public-comment on Thursday.

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