To consider a report which provides Members with the opportunity to consider the level of harbour charges to be levied by Tor Bay Harbour Authority.

The Committee considered the report which provided Members with the opportunity to consider the level of harbour charges to be levied by Tor Bay Harbour Authority. The Committee noted that due to the economic climate a deficit budget had been set and were of the view that ‘price sensitivity’ was very important and a ‘balancing act’ had to be maintained between keeping customers and increasing income.

Resolved:

1)               that the Committee, having considered the recommendation from the Harbour Committee’s Budget Working Party, agreed to increase the harbour charges for 2012/13 by a representative average increase of 4.0% and approved the schedule of harbour charges as set out in Appendix 1 to the report;

2)               that the Tor Bay Harbour Authority Budget for 2012/13, based on a 4.0% representative average increase in harbour charges (as set out in Appendix 2 to the report) be approved;

3)               that during 2012/13 the Tor Bay Harbour Budget Working Party continue to review the full range of harbour charges, monitor the revenue budget and recommend a budget for 2013/14;

4)               that, as recommended by the Harbour Committee’s Budget Working Party, the Executive Head of Tor Bay Harbour Authority consider using harbour reserve funds to make additional payments against the financing charges of capital projects, provided that the minimum reserve fund level is maintained and such budget adjustments are approved by the Harbour Committee Chairman and reported to the Harbour Committee through the budget monitoring reports; and

5)               that, as recommended by the Harbour Committee’s Budget Working Party, each harbour reserve fund be split with 20% of budgeted turnover ring-fenced to meet any deficit in the revenue budget or winter storm damage and the balance ring-fenced to fund harbour related capital projects.