Issue - meetings

Option 1:

This option is to approve increases that meet the financial target of £110,300

Option 2:

This option is to approve the majority of the recommendations including in this report and to  exceed the

financial target of

£110,300

Option 3:

This option is to do nothing, retain the existing fees and charges and the likelihood of not contributing to the financial target

Advantages

This option meets the financial target for parking fees and charges taking into account inflation and the implications of the increase in VAT.

This option is likely to provide less price increases and limits the impact on usage and the potential for adverse variances in the 2011/12 budget.

This option allows parking fees and charges to meet the financial target and to also make an additional contribution to the 2011/12 budget process.

A further contribution could be made depending on the level of charge introduced for partner permits.

This option limits the impact on parking usage and town centre vitality and trading.

This option is likely to receive the greatest support through the consultation process

Disadvantages

This option does not maximise the contribution that parking fees and charges could make to the 2011/12 budget preparation process.

Depending on the range of increases approved this option could have a negative impact on short stay parking and town centre trading.

This option is likely to receive the most objections through the consultation process.  

Apart from the possibility of increased income arising from no fee increases this option will result in a significant budget problem requiring additional income or savings to be generated from other activities / services undertaken by the council.

Risks

This option still has inherent risks associated with price increases as customers may choose other modes of transport or use other car parks in the district.

This option will have a significant risk of customer resistance to additional fee increases with a corresponding substantially increased risk of adverse variances with the 2011/12 budget.

This option increases the budget preparation difficulties at a time when additional income or major savings are required.