Researchers say the City of Montreal goofed when it handed over responsibility for parking to a private company.

The researchers at the University of Quebec at Montreal issued their report Wednesday.

It says that since Stationnement de Montreal took over the job in 1994, the money made off of parking meters has gone up 300 percent.

That's $50 million a year going into private hands instead of city coffers, says the study.

The researchers say the city should take back control of parking and pocket the profits.