Issue - meetings

To consider a report of the Directors of Corporate Resources – Corporate Services and Culture, Communities and Business Services outlining the forecast outturn for 2018/19 and the forward budget for 2019/20.

The Committee considered the report of the Directors of Corporate Resources – Corporate Services and Culture, Communities and Business Services.

The Board acknowledged the work of officers in realising savings across the financial year 2018/19. It was noted that the County Council’s Transformation initiatives were ongoing and that continual review of spend would be necessary within the current financial climate.

In response to Members’ questions it was confirmed that the Harbour Authority’s financial contribution to the Hamble Lifeboat station had been £70,000 and that this had already been paid out. It was agreed that the Board would write to the Hamble Lifeboat as some of the facilities at the station were yet to be completed.  

RESOLVED:

That the River Hamble Harbour Board approves:

      i.        The forecast outturn for 2018/19 and the forecast budget for 2019/20 as outlined within the report.

    ii.        That delegated authority be granted to the Harbour Master to spend on the maintenance and replacement of fixed assets up to the value of £5,000 from the Asset Replacement Reserve (ARR) to enable more timely action to be taken.

That the River Hamble Harbour Board notes:

   iii.        The ongoing cost pressures and the potential impact of this on the general reserve balance and future harbour dues decisions.

   iv.        That a report be brought to the next Board meeting for consideration detailing potential future options for achieving a balanced funding position and the potential implications of these options.

To consider a report of the Directors of Corporate Resources – Corporate Services and Culture, Communities and Business Services outlining the forecast outturn for 2018/19 and the forward budget for 2019/20.

The Committee considered the report of the Directors of Corporate Resources – Corporate Services and Culture, Communities and Business Services (Item 10 in the Minute Book).

Members were pleased that prudent financial management was in place, including planning ahead for any unforeseen circumstances. Discussion was held regarding the forward plan for asset replacement and the importance of maintaining the asset register to enable suitable financial planning for future capital outlay.

RESOLVED:

a.            That the report is supported by the River Hamble Harbour Management Committee and submitted to the River Hamble Harbour Board for approval.

b.            That cost pressures and the potential impact on the general reserve balance and future decisions on harbour dues are noted.

c.            That the River Hamble Harbour Management Committee recommends to the River Hamble Harbour Board that delegated authority to spend is granted to the Harbour Master for the maintenance and replacement of fixed assets up to the value of £5,000 from the Asset Replacement Reserve (ARR) to enable more timely action to be taken.