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 2017/18 and the forward budget for 2018/19.

The Board 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 to hear that operational costs had remained consistent with previous years. The Board were pleased that prudent financial management was in place, including planning ahead for any unforeseen circumstances, however some Members emphasised that the level of reserves held be regularly reviewed to ensure that the accrued rate was at an appropriate level.

It was agreed that a further breakdown of the spending over the years from the Asset Enhancement Reserve would be brought to a future meeting of the Board for information.

RESOLVED:

That the River Hamble Harbour Board:

a)    Notes the 2017/18 forecast outturn.

b)    Approved the 2018/19 forward budget as set out within the report.

To consider a report of the Directors of Corporate Resources – Corporate Services and Culture, Communities and Business Services outlining the forecast outturn for 2017/18 and the forward budget for 2018/19.

The Committee considered the report of the Directors of Corporate Resources – Corporate Services and Culture, Communities and Business Services (Item 9 in the Minute Book).

Discussion was held regarding the policy to make an annual transfer to the Asset Replacement Reserve. Members were pleased that prudent financial management was in place, including planning ahead for any unforeseen circumstances, however some Members emphasised that this annual contribution be regularly reviewed to ensure that the accrued reserves were at an appropriate level.

RESOLVED:

That the River Hamble Harbour Management Committee notes the report and recommends that it be submitted to the River Hamble Harbour Board for its approval.