Budget & Finance
The Miami Parking Authority finances its operations through parking revenues generated by MPA-managed meters, lots and garages. These revenues are also used to fund debt service on MPA's bonds, which are issued to finance the development and construction of new parking facilities.
Funds not used by operations are returned to the City of Miami; all ticket citation revenues are payable directly to Miami-Dade County.
Parking rates are set by City ordinance and reviewed periodically by the City of Miami Commission. Current rates were set in November 2009.
MPA's fiscal year runs October 1 - September 30. Financial highlights for the year ended September 30, 2011:
• Revenue: $25.520 million
• Operating costs and expenses: $14.551 million
• Debt service: $4.760 million
• Capital expenditures (new and fixed assets): $1.468 million
• Net proceeds returned to the City of Miami: $5.713 million
• Parking fine revenue generated for Miami-Dade County and City of Miami: $6.000 million
Monthly Financial Reports | Annual Financial Reports