Indiana University is considering privatizing the parking lots at its Bloomington and Indianapolis campuses.
The Ohio State University recently outsourced its parking operations for nearly half a billion dollars for 50 years.
IU Senior Vice President and CFO Neil Theobald says the move could reduce overall expenses amid rising health care costs and uncertainties in state and federal funding.
“That’s not a core mission of the university,” he says. “We’re here to educate and do research. We operate parking facilities, but if there is a private enterprise who can do it more efficiently than we can, then we save money by having them do it.”
However, Theobald acknowledged to the IU Trustees at their Thursday meeting that IU parking operations are very profitable, and fund many programs at both campuses.
The Trustees also heard plans about how to make the IU Press more profitable by creating a new Office of Scholarly Publishing, which would integrate the IU Press with the library system.