Financing & Treasury

 
THE CALIFORNIA STATE UNIVERSITY
Office of the Chancellor
400 Golden Shore
Long Beach, California 90802-4275
(310) 985-2900


Code:     BF 95-09
Date: June 19, 1995
To: Presidents
From: Richard P. West
Vice Chancellor
Business and Finance
Subject: Transfer of Parking Program to Campuses

As part of the Chancellor's initiative to improve the alignment of responsibility and authority for university programs, we have been evaluating methods to decentralize the CSU Parking System. A systemwide task force comprising of two campus presidents and several campus representatives has provided recommendations to me for decentralization which have been reviewed by the Executive Counsel of the CSU and the Chief Administrative Business Officers. We are now in the process of implementing these recommendations (see attached).

The Dormitory Revenue Fund Parking was established to facilitate the issuance of bonds or notes for the acquisition, construction and improvement of parking facilities in the California State University. Historically, all parking fees have been remitted to meet the covenants of the bond resolutions. As of July 1, 1995 all bonds for the parking system will be retired. Campuses were previously notified through Accounting coded memorandum (AD 95-10) of changes for remittance of parking revenues required as a result of the repayment of the bonds. Additional information will be forwarded in the immediate future by the office of Auxiliaries Planning and Bonds for dealing with transitional issues.

Current parking fees will remain in effect for the foreseeable future. In the absence of outstanding bonds and related covenants, parking fee revenue is still restricted by law for the acquisition, construction and maintenance of campus parking facilities (Education Code 89701).

Campuses with questions on project or transitional budget issues may contact Richard Leffingwell in Auxiliaries Planning and Bonds at (310) 985-2790, or for accounting issues, contact George Pardon in Accounting at (310) 985-2900.

RPW:RKL:ss

Attachment


Distribution: Vice Presidents for Administration (without attachment)
Vice Presidents for Academic Affairs (with attachment)
Vice Presidents/Deans, Student Affairs (with attachment)
Chief Fiscal Officers (with attachment)
Budget Officers (with attachment)
Parking Administrators (with attachment)
Chancellor's Office Staff (w/o attachment)


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