City of Perth parking revenue almost $1.5m lower than budget forecasts

City of Perth parking revenue almost $1.5m lower than budget forecasts

CITY OF PERTH parking revenue in the 2016-17 financial year so far is almost $1.5 million lower than the City’s budget forecast.

Last Tuesday’s Finance and Administration Committee learned of the shortfall on the same evening it voted to recommend the new Parking Local Law to Council for 2017.

The proposed law was advertised for public consultation but received no submissions from the public.

The City received comments from Department of Local Government and Department of Transport that triggered changes to the proposed local law.

In the second half of 2016, parking revenue for the City was $36.9 million – $1,442,000 less than expected.

The big drop came in revenue from the City’s Undercover Car Parks, which brought in $2,142,000 less than budgeted.

This shortfall was partially offset by bigger than expected windfalls from Open Air Car Parks ($105,000 above budget) and Kerbside Parking ($595,000 above budget).

The drop in parking revenue largely arose from lower than expected patronage at the underground car parks at His Majesty’s ($351,000), Alexander Library ($270,000) and Elder Street Carpark ($230,000).

Fines and Costs were lower than budget by $604,000 – almost all of which related to less than expected revenue from parking fines.