In light of the increasing use of counterfeit bills of lower denominations, Parking and Transportation Services plans to replace five parking permit machines at an estimated cost of $40,000, said Thomas Bass, senior director of Parking and Transportation Services.
With the new machines, the permits, which sell for $2 and can only be purchased with $1 bills, can be used for up to a week. Currently, only daily permits are available.
The initial plan is that the new machines will be used for special event parking, though the budget has not yet been approved for these machines, said Bass.
At a time when the federal government is rapidly changing the design of all currency, Scott Brown, University Police investigator says he is concerned that bills of lower denominations are being passed throughout Cal State Long Beach.
So far this year, the following campus locations reported receiving counterfeit money: PTS, Enrollment Services, The 49er Shops, The Pyramid and The Carpenter Performing Arts Center.
The Department of the Treasury approved the design of a new $100 bill in 1996, $50 bill in 1997 and unveiled a new $20 bill last month, said Debbie Rockwell, Bureau of Engraving and Printing public affairs specialist.
Now the BEP recognizes the need to redesign bills of lower denominations because of an increase in the use of computer technology which makes counterfeiting more accessible. U.S. citizens can expect to see new $10, $5 and $1 bills in the next few years.
A decrease in counterfeit activity on campus would offset the financial burden on California students and taxpayers who subsidize college tuition and ultimately help pay for new fraud-resistant equipment.