Yes. If you are a student, a hold will be placed with the University Registrar and applied to your records. If you're a University or Hospital employee, the fine and late fee will be payroll deducted from your check. If you're non-affiliated, the fine and late fee will be forwarded to a collection agency or to the state to garnish wages or tax refunds.
Section 6.1 of the parking ordinance covers the current fees associated with offenses.