titlepage/contents pg 1-16 - British Parking Association

Chapter 10Funding and theParking BusinessPlanAcknowledgementsChapter 10Funding and theParking BusinessPlanIntroductionParking in most local authoritiesinvolves a large amount ofexpenditure and income, and istypically one of the mostimportant accounts. It is,therefore, important that parkingshould be managed not only as aservice, but also as a business.Parking policies and schemesmust flow into the business planrather than being separated fromit.The Parking BusinessPlanThe core of the business plan willbe the parking account thatenumerates all income andexpenditure, together with anychanges to the operation andmanagement of parking that areplanned or will have an impacton the financial balance sheet.Items that should be included ina typical parking business planare:● The parking account(including the previous yearand forecasts for thefollowing year(s);● Policies and plannedchanges affecting thebusiness, such as a transferto DPE, or a change in thesplit between on- and offstreetparking;●Reasoned justification forsubsidies to the parkingaccount (such as freeparking);● Investment plans and theirestimated costs, such as carpark refurbishment;● Forecast income, takingaccount of any changes incharges;●Planned expenditure of anysurplus on the parkingaccount;● Parking supply and demanddata, and the results of anyreview of the business;and● The impact of resourceaccounting, particularly thetreatment of the assetvaluation of car parks.Income from parkingLocal authorities’ finance now ismore stringently controlled thanpreviously and authoritiesshould, at a minimum, balanceFigure 10.1: The context of a local Business Plan for parking.LTPParking StrategyOther elementsParking Business PlanParking policies,schemes