NIFCA BUDGET
In January 2026, Authority members approved a 3% increase to the annual local authority precept, giving a total of £830,930 (excluding “New Burdens” funding) for 2026-27. This rise reflects inflationary pressures and rises in the cost of living which have added 27.5K to projected staffing costs and 14.2K to management costs.A modest surplus of £6,800 is forecast for 2026-27 after transfers to the Renewals Fund, to be added to General Reserves at the year end. Defra will continue “New Burdens” funding at previous levels, providing just under £155,000, via the precept, for 2026-27. At the same time, NIFCA continues to receive R-DEL funding to support delivery of Fisheries Management Plans, Marine Protected Area management, and Sustainable Development goals. A further £130,000 in R-DEL support to cover the 2026-27 period is expected to have been received by the end of March 2026. R-DEL continues to fund the salaries of two Environmental IFCOs (one full-time, one part- time) working on these priorities. As this funding is budget-neutral, any surplus will be carried forward as deferred grant income to be spent in future periods. The Authority’s budget will be reviewed quarterly, with a focus on cost control, income generation (including grants and vessel chartering) and maintaining strong reserves while continuing to grow the Renewals Fund for future vessel replacements. GENERAL RESERVES General Reserves are projected to stand at £224,800 in April 2026. It is expected that the Authority will need to draw down £10,000 from General Reserves in 2026–27 for further office works. After accounting for the projected 26-7 surplus of £6,800 (see Budget), reserves are forecast to decrease by 3.2K to £221,600 by March 2027. This remains comfortably above the minimum general reserve balance of £200,000, or 20% of turnover, which the Authority is required to maintain. The Renewals Fund, reserved for vessel modifications, repairs and eventual replacement, is expected to be just above £920,000 by April 2026. The fund is forecast to increase by a further £37,000 (net), to £957,000, over the 2026-27 period. This includes a £50,000 transfer from revenue and projected £37,000 in bank interest, less the anticipated £50,000 cost of essential maintenance and modifications required for the Robert Arckless MBE RIB.
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