On-Street Revenue Reconciliation

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On-Street Revenue Reconciliation

 What is your city doing to ensure that all of your meter monies are being accurately collected and deposited? How do you ensure that your meters are in good working condition? How do you compare the amount of money you collected last year with the amount collected this year? 
Most important, what are you doing to provide a safe working environment for the employees walking up and down your streets collecting meter coins? 
The PIE 2016 on-street revenue reconciliation presentation will focus on methods to help make certain that your city is using the most current collection and revenue reconciliation techniques. 
Additionally, the session will dive into the different ways that your current on-street parking program can become more accurate and efficient through technology and automation.
The presentation will begin with a review of the basic functions and structure that should support every parking revenue collection program. This baseline will provide a comparison outline to gauge how your meter program compares with other operations, and we will highlight areas where you can likely introduce further improvements. 
This initial baseline discussion will focus on meter collections methodology, security access, inventory and auditing recommendations. Each of these components is vital in building or enhancing an effective revenue reconciliation program.
 
After establishing an understanding of what is “vital” in any effective program, we will discuss the opportunity to use technology and automation to help implement and enhance these particular pieces. 
We will review the use of an integrated software application system that has been used to support, track and monitor existing parking meter operations. 
A discussion of the overall benefits of this system will be outlined, including the importance of enhanced features for asset management, inventory control and reporting. 
A significant feature that will be presented is the use of GPS technology to monitor real-time meter collections for safety and security purposes. We will review the use of “bread-crumbing” to allow designated users the ability to track the previous and current routing of field collections. This feature also supports the ability to optimize meter collection routing and frequencies, which also can mitigate any shrinkage issues.
Another integral component of these systems that will be highlighted is the creation of a paper-free solution. Meter collection staff use both a scanning-enabled smartphone and NFC and/or beacon technology to replace paper reports, creating a seamless and user-friendly method of tracking and reporting issues, including identifying when a meter is collected, maintenance issues, accurate meter inventory, and tracking of spare parts and other parking-related assets. 
Reporting and timely review of reconciliation details are an important feature of any revenue reconciliation program. We will discuss coin-counting methodology and adaptation that can be introduced, whether your agency counts the monies or these services are outsourced. 
Integrating the counting process with the meter collection process can introduce the optimal method for reconciliation. The frequency of auditing, both in the field and administratively, will be discussed extensively. We will highlight the importance of verification and reconciliation of meter monies. 
 
Further, the PIE 2016 presentation will incorporate case studies of a variety of parking meter programs, with a summary of the lessons learned from the introduction of technology, integration and automation that can benefit a parking meter operation of any size. 
 
Joe Ciccarelli is an associate at Dixon Resources Unlimited. He can be reached at joe@dixonresourcesunlimited.com.
Article contributed by:
Joe Ciccarelli
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