COWES HARBOUR COMMISSION STRATEGIC PLAN 2016-2021 Mid-Term Review 2019 | Page 7

CHC, as part of the strategy review, considered the duties and functions currently being carried out, which can be broadly defined into three categories as follows: a) STATUTORY DUTIES: These must be delivered by CHC and should be delivered to the highest standards. b) MARINE SERVICES: Not a statutory duty or function, but ports are encouraged by the government to deliver services and facilities, whilst not using their statutory position to commercial advantage. Marine services provide a surplus that assists in funding harbour improvements and stakeholder benefits. c) STAKEHOLDER DIVIDEND PROJECTS: Not a statutory requirement, but can deliver projects and services that benefit the port, users and stakeholders, although generally do not provide the normal acceptable return on investment.  The Commissioners have agreed that our overriding priority is safety and delivering our statutory responsibilities and duties. The secondary functions of providing marine services and harbour facilities on a commercial basis, as well as investment into stakeholder dividends, will continue to be reviewed by the Commissioners and discussed with stakeholders. We welcome your views and feedback on this new Strategic Plan, which will be reviewed annually by the Commissioners. David Riley, Chairman Capt. Stuart McIntosh, Chief Executive/Harbour Master June 2016 STRATEGIC PLAN 2016-2021: Mid-Term Review 2019 7