The UW Transportation Services budgeted an estimated $633,905 in net income from parking, including fines and tickets, during the 2023 Fiscal Year (FY23) according to Paul Kunkel, Director of the UW Transportation Services.
A report provided by former ASUW Vice President Hunter Swilling accounted for just over $1,000,000 in projected revenue from parking in FY23.
According to Kunkel there is “no current projection available” of actual profits of FY23, which ends on June 30, and Transportation Services produced a net income of $288,815 from parking in the 2022 Fiscal Year.
Parking fines alone made up approximately 16% of the parking revenue in FY23 and approximately 23% of the revenue in FY22, according to Kunkel.
Kunkel explained that while the parking program may see net profits, those profits are used to support other aspects of the Transportation Services.
“The parking program has always supported the transit program. The transit program is very expensive to operate and requires local match funding to leverage federal grants. The match funding is comprised of student fees and parking revenues,” Kunkel said.
“While the parking program may reflect a positive net result by itself, that income is used to support the transit program. Without the parking revenues, we would not have as robust of a transit system as we have at UW.”
Beyond supporting the transit system, these profits will also be used to pay for the Ivinson Parking Garage.
“At the end of the day, any residual net income from Transportation Services goes toward the debt service associated with the parking garage,” Kunkel said.
The Branding Iron contacted the UW Budget Office for more information, but no reports were provided before the publication deadline.
