Development Strategy - North Devon District Council
Development Strategy - North Devon District Council
Development Strategy - North Devon District Council
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
2.7 Harbour Finances<br />
• Properly recognise all income from the designated Harbour<br />
2.7.1 Ilfracombe Harbour, as a Municipal Harbour, relies heavily on Local<br />
Area.<br />
Authority support to maintain it for the benefit of local stakeholders,<br />
visitors and the wider community. Income and expenditure will be<br />
managed through an Assured Trading Account to assist the Board in<br />
making budgetary decisions and to allow focussed auditing of the<br />
Harbour undertaking.<br />
2.7.5 The IHB will work with NDC to build adequate reserves in a<br />
contingency fund for anticipated capital projects and replacement<br />
programmes within the Harbour into the future. The information<br />
compiled in 2.7.4 above will be a key consideration in this process.<br />
2.7.2 Under the terms of the establishing Act 9 income derived from harbour<br />
operations should be ring-fenced in identifiable accounts. However, it<br />
is clear to see from the latest audited accounts that the amount of<br />
income currently generated does not cover necessary outlays. This<br />
means that the harbour will continue to rely heavily on <strong>Council</strong><br />
financial support into the future.<br />
2.7.3 The Income and Expenditure figures for the Harbour and its Car Parks<br />
for 2010/11 are:<br />
Sales of Fuel to vessels £296,260<br />
Rent £ 21,522<br />
Fees and charges on small craft £ 47,461<br />
Visiting vessels £ 13,860<br />
Miscellaneous £ 5,808<br />
Car parking £239,661<br />
Total annual income £624,572<br />
Total annual expenditure 10 £707,143<br />
Net Loss £ 82.571<br />
2.7.4 An ‘Assured Harbour Trading Account’ will:<br />
• Ensure that an accurate account of income and expenditure is<br />
maintained for the whole of the Harbour undertaking.<br />
• Aid the provision of a reserve account.<br />
9 Piers and Harbours Act 1990<br />
IHB’s <strong>Development</strong> <strong>Strategy</strong> Version 1 dated 10th April 2012<br />
7