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SECTION N -- ENTERPRISE, SPECIAL REVENUE and INTERNAL SERVICES FUNDS
BALLSTON PUBLIC PARKING GARAGE
BALLSTON PUBLIC PARKING GARAGE
PROGRAM MISSION: The Ballston Public Parking Garage provides safe off-street
parking at competitive rates for visitors to retail establishments, Metrorail
commuters, and office workers in the Ballston area.
The Ballston Public Parking Garage (the Garage) is located
on North Glebe Road and Randolph Street and adjacent to the Ballston Common
Mall. It operates seven days per week
24-hours a day in order to maximize the convenience to the public. The acquisition and expansion of the former
Parkington Shopping Center Garage was financed through the sale of variable
rate revenue bonds. The garage bonds
were sold in September of 1984 in the amount of $22,300,000. The Garage is a County-owned facility,
operated as an enterprise fund (its operations are fully financed through user
charges in the form of parking receipts and other revenues). The Garage is managed and operated by a
private parking management firm.
Revenues generated by the Garage are used to pay operating, maintenance,
debt service and capital repair expenses.
It continues to be a catalyst for economic development in the Ballston
area, contributing to the associated growth in the Ballston area's real
property tax base.
The County proposes to construct the eighth level slab and
lease the eighth level slab and the air rights above the eighth level slab to
the Industrial Development Authority, which in turn proposes to build an ice
skating practice facility and sublease the skating facility to the National
Hockey League Washington Capitals.
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BALLSTON
GARAGE FINANCIAL SUMMARY
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FY 2004
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FY 2005
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FY 2006
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% Change:
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Actual
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Adopted
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Proposed
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'05 to '06
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Personnel
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-
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-
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-
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-
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Non-Personnel
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$1,700,550
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$2,199,974
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$2,373,588
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8%
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Capital Construction
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186,752
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1,709,000
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2,124,000
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24%
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Property Taxes
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250,834
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256,000
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256,000
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-
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Debt Service
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790,122
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865,000
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1,103,700
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28%
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Total Expenditures
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2,928,258
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5,029,974
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5,857,288
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16%
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Total Revenues
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4,080,739
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3,575,567
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3,617,140
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1%
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Change in Reserves
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$1,152,481
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($1,454,407)
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($2,240,148)
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-54%
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SIGNIFICANT BUDGET CHANGES:
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Non-personnel costs increase a net of $173,614. Increases are in the garage management
contract ($221,326), operating and maintenance supplies ($20,600), utilities
($7,056), and County staff's administrative and management time which will be
charged to the Garage fund ($67,396).
These increases are partially offset by a decrease in the repairs and
maintenance budget ($142,764).
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Capital construction increases for continuing garage
improvements and replacing elevators ($415,000).
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Debt service has been adjusted to reflect a projected
increase in loan fees and interest rates ($238,700).
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Revenue from parking fees is estimated to be approximately
$141,573 higher than the FY 2005 adopted budget but the annual growth in fees
revenue is lower than prior years due to temporary elimination of parking
spaces for 8th level expansion.
Revenue from interest income is estimated to be $100,000 lower than the
FY 2005 adopted budget as result of lower projected average cash balances in FY 2006 due to increased construction activity.
PERFORMANCE MEASURES:
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FY 2002 Actual
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FY 2003 Actual
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FY 2004 Actual
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FY 2005 Estimate
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FY 2006 Estimate
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FY 2006 Goal
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Mission Outcome Measures
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Average number of damage claims per year
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N/A
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10
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4
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3
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2
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2
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Average cars per day
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4,147
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4,147
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4,128
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5,500
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4,000
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4,200
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Average number of monthly permits
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1,500
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1,550
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1,685
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1,700
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1,700
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1,200
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Average numbers of early bird parkers per month
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14,555
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14,750
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6,969
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6,642
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7,000
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6,500
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Average number of hourly parkers per month
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112,864
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115,000
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116,410
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120,000
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110,000
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117,000
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Customer
Measures
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Percent of customers rating services as good or
excellent
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N/A
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N/A
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99%
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85%
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85%
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85%
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The goal for FY 2006 is to reduce the number of early
bird parkers and permit parkers to make space for hourly parkers visiting shops
and services in the mall.
FUTURE BUDGET CONSIDERATIONS:
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Anticipating
the additional demands of managing the Garage once the National Hockey League
Washington Capitals' practice facility opens at the Ballston Common Mall.
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