(JUNE 7, 2018)–The City of St. Louis Treasurer’s Office has reached an agreement regarding the FY19 Parking Division Budget.

The Treasurer’s Office has agreed to transfer $10 million from the Parking Division unrestricted reserves into the City of St. Louis general revenue reserve fund. The Treasurer’s Office will also increase the Parking Division’s budget by $800,000 to restore the Neighborhood Stabilization Office (NSO) cuts, and by $250,000 to pay for new City tow trucks.

No positions will be cut from the Treasurer’s Office staff and no additional spending restrictions will be added to the budget.

The agreement and the FY19 Parking Division budget were both approved today by the Streets, Traffic and Refuse Committee. The Parking Division budget now goes to the full Board of Aldermen for approval.

“This agreement with the City accomplishes two things,” said Tishaura O. Jones, Treasurer of the City of St. Louis. “It protects my staff from petty political attacks, and it also helps the City shore up its reserve funds in order to improve its long-term fiscal health. But the agreement to restore NSO cuts and pay for trucks are both short-term solutions. As I’ve previously stated, the City has a revenue problem and needs to find a long-term solution to this ongoing problem.”