The City of Penticton has exceeded its budget by almost $ 100,000 for the installation of all new parking meters and pay stations.

According to the third quarter financial update that was provided to city council on October 19, the city’s costs for purchasing and installing the new machines were $ 98,000 more than expected.

In the end, the city paid $ 286,000 for the installation of the 160 parking meters and 19 parking meters, according to the city’s chief financial officer Jim Bauer, some of the new equipment replacing the old meters and pay stations. .

Regardless of the higher than expected costs for purchase and installation, the city expects to be lower than the 2021 budgeted revenue from parking.

For 2021, the city had budgeted parking revenues estimated at $ 1.05 million. The exact figure below that budget won’t be public until the 2022 budget is released, but Bauer has confirmed that it has increased from pre-COVID-19 revenue in 2019.

In 2019, the city raised $ 422,093 in parking revenue, similar to $ 421,284 in 2018.

Revenue suffered a significant drop in 2020 due to the pandemic and city council compensatory measures to support local businesses by providing free parking. According to the 2021-2025 financial plan, the city brought in $ 233,000 for 2020.

In addition to the new machines and the elimination of the old hour of free downtown parking, the city has increased costs for people who exceed their time by increasing parking tickets by $ 5.

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