Airport Income Better Than Expected In First Half
The latest budget figures, provided at last week’s Finance meeting, show it’s made £175,000 more than planned at the start of the financial year.
Income is up by £112,000 to £883,000, and running costs have also reduced, giving overall profits a boost.
But Senior Finance Manager Ben Barrett warns councillors in his report that we’re now entering a quieter period at the airport so income will reduce.
In the March Full Council meeting, members voted to increase airport fees by 10%, double the amount recommended by the Transport Committee.
That was to build up the depleted airport reserves following the £580,000 overspend on the airport redevelopment project.
And in September, councillors chose to hand back the St Mary’s airport lease to the Duchy. That could pave the way for the facility to be run by a private company.
The half-year budget also shows that the Council’s waste strategy has overspent by £318,000.
That’s been caused by the increased cost of meeting the requirements set out by the Environment Agency.
But Mr Barrett says some of this should be offset by the £121,000 raised by the Council to date from charges for trade waste on the islands.