The University of Chicago

Financial Services

  

1210 Parking Fees

Subject Area: Procurement/Disbursement
Responsible Office: Procurement and Payment Services
Sponsor: Chief Financial Officer
Originally Issued: October 1992
Revised: August 2006, February 2010
Refer Questions To: Ronald Welin, 773-702-4230

Purpose: To establish policy for the providing transportation allowance for employees.

Policy

Payments for the daily, monthly or annual parking fees of employees at their primary work location must be authorized, in writing, by the appropriate Dean, Vice President, Department Chairman, or Director. Parking permits are not transferable and will be revoked in the event any application, permit or vehicle is misrepresented. Parking payments are taxable as wages according to IRS regulations.

If departments want to include the cost of parking as part of an employee’s annual compensation package, then the department should do so by adding an appropriate amount in the calculation of the employee’s regular salary. The employee can then choose to spend the salary on parking, transit or vanpools using pre-tax dollars, or keep the salary which would be subject to taxation. The employee can then choose to spend the salary on parking, transit or vanpools using pre-tax dollars, or keep the salary which would, of course, be subject to taxation. Departments may not process these payments using the Monthly Extra Service Payment Request (UPP Form 172) or Biweekly Additional Payment (UPP Form 173).


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