Optimizing Your Parking Assets to Boost Your Bottom Line



Benefits

The lives of the governmental officials who are saddled with the responsibilities of managing the parking assets of the governmental units are not tranquil these days. The officials are beset with problems such as a drop off in monthly contract patronage due to layoffs of employees in nearby office buildings; the continuing growth in expenses is diminishing the net revenues; more patron liability claims are being filed and they are costly to defend; mayors, county heads, and governors are facing serious budget shortfalls and expect parking to provide more help for the general fund; the local press has had an expose about the alleged theft of parking revenues by parking employees. In many cases, these fraud scandals result in the untimely dismissal of key officials, and some patrons have found a way to cheat and be able to leave the parking facility, either making no payment of a parking fee, or only paying a part of what they should have rightfully paid. Controllers and auditors will benefit from the significant portion of the audio conference dedicated to effective auditing programs.

By participating in this live audio conference you will learn how to remedy each of these problems in a cost effective proven manner. You will be better qualified to handle the daily challenges facing you. The audio conference includes recommendations for both on-street and off-street parking activities. It will benefit both the newcomers and the old hands. The knowledge that you will gain will better qualify them for advancement.

Agenda

  How to Set Parking Rates
 
  • When Opening a New Facility
  • Get a Parking Rate Increase With Minimal Resistance by Patrons
  • Get Monthly Patrons to Pay on Time
  • Is It Time to Raise Your Rates?
  • How Often Rates Should Be Raised
  • Don't Have a Rate That Requires the Use of Coins in Making Change
  • Setting On-Street Parking Rates – 3:2:1 Ratio
  • Differential in Hourly Rates Between On- and Off-Street Parking Facilities – 2:1 Ratio
   
  Attract More Patrons by Marketing
   
  Cut Your Expenses
 
  • Automated Revenue Control Equipment for Off-Street and On-Street
  • Common Types of Automated Controls
  • Results of Switch to Automated Equipment
  • Change to LED Light Fixtures and Save
  • Separate Circuits for Perimeter/Interior Lights
  • The Benefit of a Differential Counter
  • Use Part Time Employees to Save on Payroll
   
  Patron Liability Hazards – Expert Witness Experience
   
  Operational Considerations
 
  • Benefits of Hairpin (Double Line) Parking Space Designations vs. Single Lines
  • Increase Overnight Occupancy
  • Allow Monthly Patrons to Park in Any of Your Facilities
  • Emergency Lighting Systems
   
  Housekeeping and Ambience
 
  • Importance of First Impressions
  • Contributions to Good and Bad Impressions
  • Painting Walls and Ceilings White
  • Picking Up Litter
   
  Structures Exposed to Deicing Salt or Salt Air
 
  • How Salt Damages a Parking Structure
  • Seal Coat; Membrane; Power Washing
   
  Understanding Employee Theft
 
  • How Much Money Is Lost Due to Theft?
  • Circumstances Allowing Fraud to Occur
  • Five Critical Factors in Revenue Control
  • 21 Categories of Cheating and Fraud
  • Adequate Audits and Proper Frequency
   
  Importance of the Unaccounted for Ticket Ratio
 
  • How to Calculate the Unaccounted for Ticket Ratio and Ratio Ratings
  • Importance of Missing Tickets Count
   
  The Cost of Revenue Control
   
  Stealing Is Occurring and Patrons Are Cheating, Which Accounts For The Most Revenue Losses?
   
  Common Weaknesses in Revenue Control
 
  • Trusted Employee Fraud
  • Acquisition of Sophisticated Revenue Control Systems; Surprise Cash Audits
   
  Types of Fraud to Look for When Using a Management Agreement
   
  Disposition to Commit Fraud
   
  Closing
 
  • Trust Your Employees, Do Not Tempt Them
  • Remove Those Opportunities
  • Keep Honest People Honest

Speaker and Presenter Information

Larry Donoghue, P.E. President and CEO of Larry Donoghue Associates, Inc.

Event Type
Webcast


This event has no exhibitor/sponsor opportunities


When
Tue, Jan 24, 2012, 1:00pm - 2:30pm


Cost

Live Audio Conference:  $99.00
Live Audio Conference + CD:  $168.00
CD/Manual Package Only:  $99.00


Website
Click here to visit event website


Organizer
Lorman Education Services


Contact Event Organizer



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