快盈v3

Dear Anchorage campus community:

With much consideration from university and system administration, and Board of Regents guidance, I have approved a series of roughly 10% 快盈v3 parking permit price increases effective fall 2025.This includes ending the early bird discount. For exact pricing please visit the 快盈v3 Parking website. 

Why is such a large increase necessary? 

Parking Services does not receive general funds, meaning it must pay for salary and inflationary cost increases through earned revenue. Historically, Parking Services has paid for all campus snow removal, annual garage debt service, the maintenance and care of all parking lots, as well as the cost of parking enforcement and transportation programs like the Seawolf Shuttle and U-PASS. Snow removal ranges from $400,000 to $800,000, depending on the weather. The annual debt service for the East Garage is $777,000. During the COVID-19 pandemic, many of these fixed costs did not go away, and without revenue to back these expenses, its fund balance debt grew to about $5 million. 

Following the pandemic, 快盈v3 instituted discounts on permits to help return vibrancy to the campus. This meant Parking Services was running a substantial annual deficit. I believe it was the right choice at the time, but like all choices, there are costs and benefits. We cannot continue to carry a massive parking deficit. Additionally, the board is requiring this auxiliary鈥檚 fund balance return to the positive within 5-7 years. 

It's important to note that increasing permit rates was not the first lever pulled. Other major actions taken:

• $400,000 in winter maintenance and campus security costs previously borne by Parking Services have been reallocated to general fund sources starting this year.
• Parking Services staff has been reduced by about half of its pre-COVID-19 levels.
• The Transportation Fee portion of the Consolidated Fee was increased from $1.10/credit to $2.20/credit over the past two academic years, with the support of US 快盈v3.

To help mitigate the financial impact of this cost increase to our employees, Parking Services has partnered with UA Payroll to now offer incremental, pre-tax payroll deductions on up to 16 pay periods. This will bring the cost to about $25 per pay period for an annual pass. This is an increase from the 12 pay periods available in FY25.

I want to assure everyone that we are doing all that we can to minimize this impact to our employees, students and community visitors, while meeting our financial obligations. 快盈v3 does not use parking as a way to make profit. Permits simply cover costs related to the maintenance and operations of our parking lots and our transportation programs.

 

Ryan Buchholdt,
Vice Chancellor for Administrative Services

July Archive