COWES HARBOUR COMMISSION STRATEGIC PLAN 2016-2021 Mid-Term Review 2019 | Page 9

1 | GOVERNANCE & REGULATORY CORE POLICY Manage the harbour in an open and accountable manner. GUIDING POLICIES 1a. Ports Good Governance Guidance (issued in March 2018): Manage the harbour in accordance with the principles from the Department for Transport’s guidance. 1b. 5 year Strategic Plan: Deliver CHC’s 5 year Strategic Plan and ensure Board and management decisions are compliant with principles. 1c. Open port policy: Ensure compliance with fundamental open port principle. 1d. Regulatory powers: CHC will maintain statutory and constitutional powers to fulfil its statutory duties and strategic objectives and operate its commercial marine services. 1e. Statutory and harbours regulations: Comply with all relevant legislation. 1f. Responsible to stakeholders: Deliver good communications including an Annual Report and public meeting. 1g. Stakeholder engagement: Consult stakeholders, including the CHC Advisory Committee on harbour plans, policies, investments and stakeholder dividend proposals. 1h. Financial and commercial management: Operate to best value, open, fair and accountable principles, generating a commercially acceptable rate of return from harbour assets. OBJECTIVES Target Date 1.1 5 year Strategic Plan: Consult and agree CHC’s Strategic Plan for 2016 - 2021. 2016 1.2 Governance policies: Review CHC’s governance policies, including stakeholder dividend and charitable requests. 2016-2017 2019-2020 1.3 Charitable trust: Review the possibilities of charitable investment into stakeholder dividend projects. 2017-2018 2019-2020 STRATEGIC PLAN 2016-2021: Mid-Term Review 2019 9