Fiscal Impact
A fiscal note shows the financial impact of a given legislative action.
Updating the Parking and Mobility Services Fee and Rate Schedule for Impound Lot - Fiscal Note
No
Public Works
N/A
No
The Impound Lot has roughly 30,000 vehicle releases per year. Expenses have risen by 36% since 2016, and revenue has only increased by 24% in that time. Public Works forecasts that expenses will rise by an additional 12% by Jan 1, 2026 due to increases in towing contracts.
BUDGET IMPACT
List of revenues and expenditures related to this request
| Request Financing | 2025 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|
| Revenue Sources | |||||
| Customer Fees | $4,748,760 | $5,856,804 | $5,915,372 | $5,974,526 | |
| Auction Sale | $2,600,000 | $2,650,000 | $2,700,000 | $2,750,000 | |
| Total Revenues | $7,348,760 | $8,506,804 | $8,615,372 | $8,724,526 | $0 |
| Expenditures | |||||
| Towing Contracts | $2,841,109 | $3,092,665 | $3,184,838 | $3,216,371 | |
| Other Contracts | $2,300,000 | $2,300,000 | $2,300,000 | $2,300,000 | |
| Overhead | $2,306,013 | $2,421,314 | $2,542,379 | $2,669,498 | |
| Operating Costs | $150,000 | $150,000 | $150,000 | $150,000 | |
| Bond Amortization | $477,000 | $477,000 | $477,000 | $477,000 | |
| Total Expenditures | $8,074,122 | $8,440,979 | $8,654,217 | $8,812,869 | $0 |
| Net Budgetary Impact (Revenue-Exp.) | $-725,362 | $65,825 | $-38,845 | $-88,343 | $0 |
Not Applicable
Not Applicable