Wednesday, February 1, 2023

Oxford’s Paid Parking Brings in More Than $1M in FY 2022

By Alyssa Schnugg

News editor

Oxford’s downtown parking meters brought in over $1 million during the 2021-2022 fiscal year, which runs from Oct. 1 through Sept. 30.

Combined with revenues from paid parking fines and the purchase of permits, the city earned $1.4 million from its downtown parking system, which was about $450,000 more than the 2020-2021 fiscal year.

“We did really well,” said Oxford Parking Director Matt Davis. “After getting out of the Covid funk, we saw gains in just about every category.”

Davis presented the year-end parking report to the mayor and Board of Aldermen meeting Tuesday.

Davis said it was the first year the meters took in more than $1M.

Parking fines brought in $208K and $158K worth of parking permits were sold.

“Just amazing,” said Oxford Mayor Robyn Tannehill Tuesday.

The report shows about $500,000 in expenses, leaving the city with an $877,509 profit from parking.

Davis said more people are using credit cards and the mobile app than cash than in previous years. Last year, 28 percent of the revenue was from cash. This year, that dropped to 24 percent.

On average, the meters took in about $12,000 weekly, up from last year’s $10,000 weekly average.

Saturdays bring in the most parking funds, with a $3,515 daily average.

While parking is free on Sundays, people still feed the meters about $13 a week on Sundays.

Parking officers issued 13,584 parking tickets, almost double from last year when 7,513 tickets were issued.  Most overtime parking tickets are issued on Thursdays and Fridays.

Most tickers, 86 percent, were for overtime parking and 9 percent were for improper parking. About 1 percent of the tickets were for parking illegally in handicapped parking spaces.