Issue - meetings

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.

The Board 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 is being maintained at an adequate level.

It was agreed by the Board that a gradual increase was more beneficial and doing so now would save larger increases in the medium term. It was confirmed that running costs and fuel increases had been considered but it was no expected to increase Harbour Dues.

RESOLVED

The River Hamble Harbour Board agreed that:

a. The report be taken into account alongside the annual statutory accounts in setting Harbour Dues for 2022/23 at the June Board meeting;

b. A policy to maintain this Reserve at a minimum of £100,000 be adopted to afford improved resilience around 2037;

c. An increase in the contribution from Revenue to the Replacement Reserve from £35,000 to £42,000 be applied for 2022/23 and note be taken of the need for frequency and amount of potential future increases. The amount will come from the revenue surplus of £37,000 in the approved forward budget.