PRESENTER: Presenter
Karrie Cook, Budget Manager
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SUBJECT: Title
Approval of a budget amendment for the FY 2026 Parking Fund.
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DEPARTMENT: Finance, Economic & Community Development
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COUNCIL DISTRICTS IMPACTED: N/A
BACKGROUND INFORMATION:
On May 18, 2026, City Council approved the Downtown Parking Revenue Reinvestment Annual Plan, which identified a series of Downtown improvement projects within the categories of Pedestrian Safety and Comfort, Improved Parking Experience, and Additional Parking Supply.
During development of the FY 2026 Parking Fund budget, a placeholder appropriation was included to provide limited spending authority pending Council consideration of the Reinvestment Plan. With the Plan now approved, staff is requesting a FY 2026 budget amendment in the amount of $200,000 to provide the necessary funding for the project proposals included in the Downtown Parking Revenue Reinvestment Annual Plan thru the end of the fiscal year.
Budget Amendment:
Operating Expenditures: Increase $200,000
ISSUE:
N/A
FISCAL IMPACT:
The proposed budget amendment will increase the allocated expenditures in the Parking Fund by $200,000.
Recommendation
RECOMMENDATION:
Staff recommends approval of the proposed FY 2026 budget amendment for the Parking Fund.