Parking revenue control systems capture a significant volume of transactional and other parking data. This is especially useful when completing a Due Diligence Report on parking revenues prior to a Commercial Property Acquisition. A comprehensive Due Diligence Report on parking revenues can reveal hundreds of thousands of dollars in potential or uncaptured NET Revenues for a property. By analyzing parking system data reports and identifying future revenue growth, AuditPark will strengthen internal control procedures before or after a change of property ownership. Data analysis tools are used to amass and analyze data for continuous control and oversight monitoring purposes. Parking system transaction reports, exception reports and other activity reports can also be used to monitor and eliminate any future parking revenue discrepancies or shortfalls.
Parking system reporting data can be analyzed to identify uncaptured or lost revenues, areas of potential growth and areas of risk. AuditPark achieves these goals by investigating:
- Parking Operator Reported Revenues
- Parking System Transaction Reports
- Validation or Discounted Ticket Usage
- Monthly Parker Accounts
- Tenant Lease Entitlements
- Cash Sales
- Shift Reports
- Reporting Protocols