Page 447 - FY 2021-22 Blue Book Volume 2

SPECIAL PARKING REVENUE FUND

BASIS FOR THE PROPOSED BUDGET

The 2021-22 Proposed Budget for the Special Parking Revenue Fund (SPRF) relates to current year funding as follows:

Amount % Change

2020-21 Adopted Budget $ 55,959,138

2021-22 Proposed Budget $ 57,001,201

Change from 2020-21 Budget $ 1,042,063 1.9%

The Special Parking Revenue Fund (SPRF) receives all monies collected from parking meters and City-owned parking
lots in the City in accordance with Division 5 of the Los Angeles Administrative Code. The SPRF has been used for the
following purposes: (1) the purchase, lease, installation, maintenance, operation, and regulation of parking meters and
metered spaces; (2) the collection of meter revenue and related expenses; (3) the purchase, improvement, and
operation of off-street parking facilities; (4) the painting and marking of streets and curbs required for the parking of
motor vehicles within parking meter zones; (5) the repayment of borrowed City funds; and (6) the payment of debt
service costs incurred for off-street parking facilities. The City also may establish surplus funding which may be
transferred to the Reserve Fund for general governmental purposes after paying, or setting aside, funding for the cost of
operations and maintenance of eligible activities.

BUDGET HIGHLIGHTS

The 2021-22 Proposed Budget reflects:
 Funding for maintenance of City-owned surface lots and parking garages.
 Funding for parking studies to be completed in areas throughout the City.
 Funding for the purchase and installation of upgraded parking meters and pay stations to replace older models.
 Funding for full reimbursement of General Fund related costs.

2020-21 2021-22
Adopted Proposed
Budget Budget
Balance Available, July 1 $ 7,000,000 $ 29,278,286
Less: Prior Year’s Unexpended Appropriations 6,809,294 27,425,505
Adjusted Balance 190,706 1,852,781

Revenue: Hollywood and Highland Lot 745 13,800,000 6,506,000
Lease and Rental Fees 726,000 898,000
Parking Fees 386,000 33,000
Parking Lots 10,200,000 5,856,000
Parking Meters 57,500,000 48,455,000
Other Receipts 110,000 245,000
Interest 767,000 1,632,000
Total Adjusted Balance and Revenue $ 83,679,706 $ 65,477,781
Less: Surplus Transfer to Reserve Fund $ 27,720,568 $ 8,476,580
Total Available Balance $ 55,959,138 $ 57,001,201

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