Cash Out Questions

Cash Out Questions

What is the purpose of the cash out program?

The cash out program has a number of goals:

  • To reduce demand on the University’s parking system as part of transportation demand management efforts;
  • To offer an incentive to employees considering mobility alternatives;
  • To contribute toward a more pedestrian-friendly community; and
  • To promote modes of transportation that save money (for individuals and the University), foster healthier lifestyles and have lower environmental impacts.

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If I am not driving a car to campus, what are my commuting options?

We’re glad you asked! Employees may choose to take advantage of free city transit on Lextran through the BluPass program, commute by bike or on foot, or carpool with a family member, friend or coworker. Participating employees may want to try a number of different ways to travel to and from campus, recognizing that commute methods may need to fluctuate based on schedules and job needs.

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Am I eligible for the cash out program?

Faculty, staff and students of the University of Kentucky are eligible to participate if they agree to forgo the purchase of a motor vehicle parking permit for one year following the issue of the incentive AND meet the following qualifying criteria:

Faculty and staff:

  • Held a parking permit for the past year or more or are new to campus (with a start date of February 2017 or later).
  • Have a main campus work assignment.
  • Faculty and staff with temporary work assignments must have a work assignment end date of at least two (2) years later than the date of incentive issue to be considered for the program.

Students:

  • Be a graduate student with an assistantship.
  • Held a parking permit for the 2016-2017 academic year.
  • Have an expected graduation date at least two (2) academic years later than the date of program enrollment.

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How do I sign up?

Sign up for the program at www.uky.edu/pts/help-and-resources_cash-out-form. The deadline to apply is September 30, 2017. Interested employees are encouraged to apply as soon as possible, since the program is capped at 200 participants.

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How and when will I find out if I have been selected to receive a cash out incentive?

Those faculty and staff members who qualify and are selected will be notified via email that they are eligible. Transportation Services will begin reviewing applications on Monday, May 15, and will notify recipients on a rolling basis.

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Can people who have been part of the bike voucher program in the past participate?

No. By definition, bike voucher recipients are not new to campus nor have they held a parking permit for the past year.

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Can I participate in the program even if another member of my household drives to campus?

Yes, absolutely. We encourage you to carpool with your roommate or family member even if you are not selected for the cash out program.

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Can I quit the program if it doesn’t fit my lifestyle or schedule?

The program is essentially a year-to-year commitment for up to two years. Participants will not be authorized to purchase a parking permit while participating. All requests to leave the program will be reviewed on a case-by-case basis.

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What am I allowed to spend the money on?

The cash back will be deposited on participating employees’ paychecks each pay period. There are no limitations on how it may be spent.

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