Issue - meetings

Asset Register Review

 

 

Meeting: 11/03/2022 - River Hamble Harbour Management Committee (Item 30)

30 Asset Register Review pdf icon PDF 468 KB

To consider a report of the Director of Culture, Communities and Business Services regarding the condition of essential operational assets and possible associated maintenance expenditure to judge whether the Asset Replacement Reserve is being maintained at an adequate level.

Minutes:

The Committee received a report from the Director of Culture, Communities and Business Services regardingthe condition of essential operational assets and possible associated maintenance expenditure to judge whether the Asset Replacement Reserve was being maintained at an adequate level.

 

The officer summarised the report, highlighting that costs had inflated and it was important yet difficult to balance the right amount of money put aside and what may be needed due to the fluctuations.

Members agreed that it was important to only increase fees if it was needed and a gradual increase was much preferred over any sudden hikes.

Officers were thanked for their work and for good forward planning for a healthy reserve.

 

RESOLVED:

The River Hamble Harbour Management Committee recommended to the Board that:

  1. The report be taken into account alongside the annual statutory accounts in setting Harbour Dues for 2022/23 at the June Board meeting;
  2. That a policy to maintain this Reserve at a minimum of £100,000 be adopted;
  3. That an increase in the contribution from Revenue to the Replacement Reserve from £35,000 to £42,000 be applied for 2022/23 and it notes the need for frequency and amount of potential future increases.  The amount would come from the revenue surplus of £37,000 in the approved forward budget.