From Scilly Today 6 Jul 2015. The Council’s latest accounts
show how serious the cash situation is at St Mary’s Airport. The account was £170,000 in deficit at the
end of the last financial year. It is a
so-called trading account, meaning the airport can’t go into the red and can’t
be supported from ratepayers’ money although the Council is allowed to borrow
money to cover any shortfall. It marks a
significant worsening in the airport’s financial position and it’s the first
time it’s needed a bail out. At the
same point last year, reserves stood at £249,000. That means they’ve spent
around £419,000 from the airport ‘savings.’
Read the
full article here
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