Issue - meetings
River Hamble Final Accounts 2021/22
Meeting: 10/06/2022 - River Hamble Harbour Management Committee (Item 41)
41 River Hamble Final Accounts 2021/22 PDF 414 KB
To consider a report of the Directors of Corporate Resources – Corporate Services and Culture, Communities and Business Services presenting the final accounts for the financial year 2021/22.
Additional documents:
Minutes:
The Committee considered the report of the Directors of Corporate Services –
Corporate Resources and Culture, Communities and Business Services outlining the final accounts for 2021/22.
The Committee heard that the Harbour Undertaking returned a net surplus of £64,876 on general revenue activities, enabling the agreed £35,000 contribution to the Asset Replacement Reserve to be made in full and a transfer of the remaining £29,876 to the Revenue Reserve.
Members noted that the total income for 2021/22 was approximately £37,000 higher than budgeted at £718,061.
It was also reported that revenue expenditure for the year totalled £653,186, and that this was approximately £31,000 higher than budgeted. This was linked to agreed spend on the pump out facility at the Warsash jetty and the works to the River Hamble Country Park jetty. It was noted that the costs for these works were much lower than they could have been, benefitting from Southern Water meeting the costs of the installation of pump out facility and the donation of pontoons by Premier Marinas for the new River Hamble Country Park jetty.
RESOLVED:
i) That this report, the statutory accounts and management accounts be noted by the River Hamble Harbour Management Committee, prior to submission to the River Hamble Harbour Board for approval.
ii) That the Committee notes that as at 31 March 2022 the Revenue Reserve has a balance of £73,705, which exceeds the maximum balance set out in the reserves policy by approximately £11,000.
iii) That the Committee considers the proposal to transfer the excess within the Revenue Reserve to the Asset Enhancement Reserve and agrees a recommendation for submission to the River Hamble Harbour Board for approval.
iv) That the Committee supports the recommended changes to the 2022/23 budget and their submission to the River Hamble Harbour Board for approval.