Parking Permit Fees for 2015-16
As required in the Chart of Accounts for Virginia State-Supported Colleges and Universities and the Virginia Acts of Assembly, Section 4-4.01.n.3, university parking services is required to operate as a self-supporting auxiliary operation. The revenue generated from these activities must be sufficient to support parking lot operation and maintenance, enforcement, and support staff since no state funding can be used for these purposes.
Radford University has one of the lowest general parking permit fees for employees and students among Virginia's four-year public institutions. Revenue generated from parking operations is not sufficient to cover cost associated with supporting this program. Even though parking operations and maintenance have been thoroughly analyzed to identify possible efficiencies and reduce costs to the extent feasible, university parking services revenue has not kept pace with the costs to manage and maintain the university's parking facilities.
Despite cost-saving measures, essential maintenance projects can no longer be postponed if we are to ensure the long-term viability of the University's parking services. For these reasons, the Division of Finance and Administration has determined it is necessary to make an adjustment to parking permit fees to remain in compliance with state requirements. Effective for the 2015-16 academic year (July 28, 2015), parking permit fees will be as follows:
- Faculty and staff annual permit fee will increase from $108 to $132
- Adjunct annual permit fee will increase from $27 to $40
- Student annual permit fee will increase from $108 to $132
- Burlington Lot annual permit fee will increase from $25 to $40
- Daily rate permit fee will remain constant at $5 per day
Even with these increases, Radford University will continue to have one of the lowest parking permit fees among the other state four-year public institutions. For employees, payroll deduction will continue to be offered as a means to spread the cost over multiple pay periods.
Additionally, Radford University continues to offer alternatives to private vehicle parking at RU through such programs as Radford Transit, which provides convenient campus and regional bus routes to RU ID cardholders, and which has been extremely successful, as evidenced by increasing ridership. RU also participates in the WeCar Carsharing Program for patrons to rent a vehicle when they most need it.
Parking permit renewal information and payroll deduction options will be sent in July for the 2015-16 academic year. For questions about obtaining or renewing parking permits, please contact Parking Services at 831-6361 or email@example.com.