Cowes Harbour Commission Annual Report 2016-2017 | Page 4

Our financial results for 2016 show an increase in turnover of 5 % and an operating surplus increase of 7 % to £ 553,000 . Now that expenditure on the Cowes Breakwater is complete , CHC has returned to positive cash flow although over £ 900,000 of the borrowing taken out for the Cowes Breakwater remains outstanding . The deficit on CHC ’ s pension scheme , while manageable , remains a concern .

Understanding and meeting the changing needs and wishes of all our harbour users and stakeholders is vital for the future and success of Cowes Harbour . Therefore , maintaining effective two-way communications is essential , and whilst we continue to put a lot of work into this important responsibility , we welcome feedback on any matters and particularly on areas of concern and suggestions where we can improve .

In January 2017 , Ben Board resigned as a Commissioner due to family and work commitments . In April 2017 , Howard Pearce stood down after three years as a Commissioner due to work commitments . I pay tribute to their contribution and in particular to Howard ’ s diligent approach to his duties as a Commissioner .

In February 2017 , we advertised for new Commissioners and received a good response and many high quality applications . As a result we have appointed two new Commissioners , Ra Hennessy and Nick Elderfield . I welcome them to the Board . We also confirmed the reappointment of Andrew Cooper for a second three-year term .

In December 2016 , Rod Hodgson left us after 10 years as Deputy Harbour Master to become a Southampton Harbour Pilot . I wish him well in his new career and thank him for his service . Jonathan Kidd , formerly Assistant Harbour Master , has been promoted to Deputy Harbour Master and our new Assistant Harbour Master Ed Walker , has just joined the team . CHC is a marine industry employer in Cowes and East Cowes ; including those at Kingston under our Marine Services Manager Barney Sollars , those at Shepards Wharf with Manager Jock Rafferty , and our team at the Harbour Office including Theresa Dunford our Finance Officer . I would like to take this opportunity to thank all the CHC staff for their efforts and also my fellow Commissioners , our active Harbour Advisory Committee chaired by John Corby , and finally our Harbour Master and Chief Executive Officer , Capt . Stuart McIntosh .

I hope you find this Annual Report interesting and informative and I encourage you to attend our Annual Meeting on Thursday 25th May 2017 at 1900hrs at the Island Sailing Club .

David Riley Chairman May 2017