7
The Committee received report ES/1657 which provided a mid year overview of financial performance against approved budgets.
The Head of Operations introduced the report. Income had held up reasonably well across both harbour and caravan site. The accounts had been hit by higher than anticipated expenditure due to inflation and significant one-off costs such as the shower block. The forecast profit at this point was lower than anticipated but it was expected that this would recover by the end of the financial year.
There were around thirty vacant plots on the caravan site which would be worth £100,000 a year in income, but income was higher on the touring side. Some refunds had been issued due to flooding on the site which would be reflected in the next years accounts. Drainage work would be done to try and remedy the flooding issues on the site.
David Gledhill referred to point 2.3 in the report which showed an overspend of £34,000 which was expected to reduce to £17,000 by the end of the year due to the cost of the hydrographic survey and asked how this was possible. The Head of Operations stated he would confirm the detail around this.
The Chair of the Advisory Group asked how the French drain work mentioned in the report would be paid for as this was on the third camping field. The Head of Operations stated drains would be done installed in areas where the water pooled around the surf shack. Income from this land was received in the harbour account and so work would be paid for from the harbour account.
John Ogden asked if there was any pressure on the finances from the fallout of the fire. The Head of Operations stated that at this stage there was not at this moment, but this could change. This would be discussed further under item 13.
Mike Pickles stated that more tourists were now coming into the harbour from abroad, and there were opportunities for money to be made from them through facilities. There were frequent complaints that the harbour fees were too high for the facilities provided.
The Chair stated that there was a need for some master planning to be done by the Harbour Management Committee and the Advisory Group to discuss what the harbour should look like.
By a unanimous vote it was
RESOLVED
That having reviewed the Mid-Year Budget Monitoring Report 2023/24, the Committee report this to Cabinet.