BearcatsUC
Heisman
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RE: OT: UC President Search
(01-04-2017 04:50 PM)grubs Wrote: (12-21-2016 10:06 AM)BearcatsUC Wrote: (12-21-2016 08:42 AM)subflea Wrote: Correct, parking services is a department at UC. They keep all parking money, even for special events. That money goes to pay the debt on parking structures, repair parking structures and lots, etc.
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I always assumed parking was a profit center.
Edited to add: The Langsam Library garage has been there since the 70's, The College of Business garage since the mid 80's. Jefferson Avenue garages are ancient. Even buildings I consider "new," like the Edwards Center (the Corry garage), were built in the early 90's. CCM is cruising towards 20 years (built in 1999). How much debt service could these garages have? They charge up to $369 a semester for a parking space!
Parking is under the Campus services (bookstores, dorms, kingsgate, etc) umbrella and the published budget doesn't have the other transfers expense separated by division.
The parking budget(in 1000s) are:
LineItem ResourceTotal expenses Debts OtherTransfers TotalBudget
2016ParkingLotsandGarages 15,925 5,781 4,873 5,271 15,925 -
If you scroll further up you can see Campus Services other transfers and try to speculate where the 5.2 million is going.
Parking rules of thumb:
Construction costs:Garages $21,000 per space versus $3000 for surface lots.
Operational and maintenance costs should be $500 space per year for garages versus $300 space year for surface lots.
Break even on debt service and ops/main for garages is $1800 per year ($150 month, $7.50day) per space.
UC lists 12000 spaces in the budget which has their non-debt expenses at $481.75 per year per space. They are also paying $406 per year per space to debt in 2016. This means that at $369/semester passes are priced close to where they need to be to break even or a little under. The debt service for space does indicate that a significant portion of the per space construction costs are paid. It's about a third of what you would expect.
Ignoring the fact that they list 14000 passes sold, 12000 spacesx369x2(fallSpring)-8.86million for pass revenue. They list 15.9 million in resources. The questions are where is the remaining parking revenue is coming from (event parking?) and where the other transfers are going.
Good stuff. Thanks.
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01-07-2017 01:52 AM |
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KCat
Special Teams
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RE: OT: UC President Search
Haven't heard anything lately.... When does the new president start?
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02-20-2017 10:14 AM |
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bctn8n
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RE: OT: UC President Search
(02-20-2017 10:14 AM)KCat Wrote: Haven't heard anything lately.... When does the new president start?
Today
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02-20-2017 10:14 AM |
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BearcatMan
Kicking Connoisseur/Occasional Man Crush
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RE: OT: UC President Search
(02-20-2017 10:14 AM)bctn8n Wrote: (02-20-2017 10:14 AM)KCat Wrote: Haven't heard anything lately.... When does the new president start?
Today
He just posted his opening address...Very well-communicated at the very least.
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02-20-2017 11:25 AM |
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