Norwalk Parking Authority adopts $7.43 million FY2027 budget with conditions

The Norwalk Parking Authority unanimously approved its FY2027 operating budget of $7,434,558 after commissioners asked for a few adjustments.

Rocky, the authority’s finance presenter, told the board that December revenue came in about 2.4% over budget but higher expenses (notably snow removal and prepaid service contracts) reduced the month‑end fund balance. He reported a current fund balance of $513,006.69 year‑to‑date and walked commissioners through major expense drivers including planned vehicle replacement and a security camera upgrade.

Commissioners raised several concerns during review. One asked that the snow‑removal line be increased by approximately $7,000 as a conservative measure; staff agreed to revisit the estimate. Others urged that construction administration and consultant fees tied to capital projects be shifted from operations to capital so they would be depreciated rather than repeatedly expensed; staff said they would investigate that accounting change.

The board voted to approve the budget with the conditions to adjust the snow line and to reduce operating expenses where feasible; the motion passed unanimously.

Next steps: staff will refine the specified line items and present the final budget numbers to the board for record.