In this issue, I discuss the recommendation to increase parking permit fees.
Beginning July 1, I am recommending to the Board of Governors that the cost of a parking permit increase on campus. We are also creating a new, lower cost parking option. I explain the rationale of this recommendation and give you the details in this note. I pay to park on campus just as you do, and the cost of my reserved spot will increase by $30 as shown on the chart below.
Parking is a self-supported service of the University. Collected revenue pays for all expenses. Expenses include parking lot maintenance (patching, repairing, sealing, striping, utilities, cameras, emergency phones, lighting, snow removal, signage, etc.), staff (salaries and benefits, vehicles, bicycles, uniforms, radios, training, etc.) and facilities (maintenance, office supplies, phone and network connections, etc.).
Parking permit fees have not increased since 2006, so parking is funding 2015 expenses with 2006 dollars. The Consumer Price Index (CPI) has increased approximately 20 percent since 2006. During that time, we have increased staff salaries and paid increased costs in patching, repairing, sealing and striping, and utilities. With more expenses than revenue, deferred maintenance on parking lots increases each year.
In efforts to develop a sustainable solution to this problem, a 20 percent increase in parking permit rates, consistent with the cumulative CPI, has been included in the FY16 Fee Schedule. To avoid this problem in the future, we will make an effort to make smaller, more frequent inflationary adjustments to parking permit rates. The new rates will be as follows:
|Per Year||Per Year + 20 percent||Difference (Increase)|
|Lot 27A – Monroe Apartments ***||$300.00||$360.00||$60.00|
Comparing the revised parking permit rates to benchmark peer institutions clearly shows Missouri State University parking permit fees maintaining low and competitive pricing. For example, at the University of Missouri – Columbia, faculty and staff pay $216 per year for surface lot parking and $252 per year for garage parking.
With the change in parking permit fees, we will also implement two initiatives to increase the parking capacity on campus for fall 2015:
- One-time funding will be utilized to construct a new parking lot north of Strong Hall (70 additional parking spaces)
- Seldom-used University vehicles will be moved from parking lots 4 and 44 to Darr Agricultural Center (12 additional parking spaces)
In addition, a new orange parking permit will be available for purchase effective July 1, 2015, to enable students, faculty and staff to park on perimeter parking lots 39, 51, and 52 at an annual rate of $65.00. Use of the orange parking permit coupled with use of the Bear Line shuttle service provides a low-cost option for parking on campus.
Thanks for all you do for Missouri State!