One of POSOL’s major expenses is the payment of the Port Solent charge
All permanent users of the marina complex, including POSOL, Oyster Quay, Shops and Restaurants on the Boardwalk, etc., pay an annual fee to the marina lessee, Premier.
This fee is called the Port Solent Charge and POSOL contributes 27.5% of the total charge.
Premier are entitled to impose an annual increase of 4% per year, or a percentage equal to the price increase for berths in the public marina, whichever is the greater.
However once every five years POSOL is entitled to analyse Premier’s actual costs for specified activities during the preceding year
There are 25 specified activities which are: the repair, replacement and maintenance of the structure of the Marina, hoist quay and lock, inner and outer waiting pontoons, fuel and visitor pontoons, lock gates and machinery, work boats, plant and equipment including fuel bay, signs and information services, landscaping, car parks, roads and footpaths, signs and information services, methane protection, fire fighting, safety and security systems and equipment, lighting the common parts and dredging the Marina and access channel, insuring the Marina, plant and equipment including public liability, pay business rates, keep the Marina and car parks clean and tidy and impose and enforce Rules and Regulations for the proper operation of the Marina.
In the event that this analysis shows that POSOL had paid more than the actual costs incurred in that year then Premier refunds the difference back to POSOL.
The actual costs determined by the above analysis then become the corrected base for the following year’s Port Solent Charge and the cycle of annual increases starts again, until the next review.
The Port Solent Charge payable by POSOL is itemised in the POSOL budget, where 73% is charged to house owners and 27% to berth holders.