Bar Harbor Finance Director Stan Harmon has submitted to the Town Council, for approval, discussion and acceptance the Financial Report including the Recap of the Parking Fund.

Here is the recap. Revenues and expenses are for the period July - October, (the current fiscal year)

Parking Fund Revenues

Meters/Kiosks - Actual - $1,343,512  Budget - $523,000

Permits - Actual - $13,815   Budger $14,750

Enforcement Citations - Actual $22,419    Budger $30,000

Interest - Actual - $1,930   Budget - $1,000

Revenue Subtotal - Actual - $1,381,676   Budget $568,750

Less Transaction Fees - Actual $82,150   Budget $58,000

Net Revenue (July-October) - Actual 1,299,526   Budger $510,750

Direct Expenses (wages.signs etc.) Actual - $72,085  Budget $142,865

Transfer to General Fund Actual - $59,746  Budget - $59,746

Transfer to CIP Fund - Actual - 260,000  Budget - $260,000

Net Gain YTD Actual - $907,695   Budget - $48,139

Parking Revenues Full Season Estimated (Net of credit card, IPS,Park Mobile fees) $1,580,000

Note permits from non-residents have all expired and will need to be renewed prior to May 2020, unless changes are made to the parking regulations.