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Expenses related to parking operations include maintenance of parking facilities, vehicles and equipment, employee salaries and benefits, supplies, minor equipment, utilities, transportation options program and Beaver Bus operations.
Transportation Services maintains a Reserve Fund for capital expenses, like new parking lots, and for the maintenance or repair of parking facilities and capitalized equipment. The fund is replenished by transfers from the operating fund equivalent to asset depreciation and any revenue over expenses. The ending reserve fund cash balance for FY18 was just over $3 million, after a transfer into the fund of $1.54M from the operating budget.
This chart represents the expenditures made in Fiscal Year 2018 (July 1, 2017 through June 30, 2018). Revenues above operational expenditures are transferred to the unit's reserve funds for capitalized construction projects and equipment replacement.
Parking revenue includes annual, monthly, an daily parking permit sales, parking meter payments, parking fines, internal sales (to OSU departments), and miscellaneous revenue from Beaver Bus rentals, bicycle locker rentals, surplus sales and reimbursements from outside entities.
This chart represents the revenue received in Fiscal Year 2018 (July 1, 2017 through June 30, 2018).