The Alexandra Palace and Park Board met on Wednesday 27 March 2024 to approve the 2024/25 budget and a review of car parking charges. The Board approved the 2024/25 budget, which included measures to reduce a projected deficit, and agreed to increase car parking charges to £1.75 per hour, with the first 30 minutes remaining free.

2024/25 Budget

The Board approved the budget for the Alexandra Park and Palace Charitable Trust for the 2024/25 financial year. This followed a previous draft budget presented on 26 February 2024, which indicated an in-year deficit of £1,012,000. Significant work had been undertaken to reduce this deficit, resulting in a revised projected deficit of £468,044.

Key changes implemented to reduce the deficit included:

• An increase in the fundraising target by £10,000.
• An increase in car parking income by £100,000, aligning with recommendations from the car parking charges review.
• The inclusion of income from a Theatre School that had been omitted in error.
• Staffing adjustments leading to a rephasing of some posts, saving £43,000.
• A review of utility costs, forecasting a reduction of £168,000 due to an expected fall in unit costs from 1 October 2024.
• Reallocation of costs between the Trust and Alexandra Park and Palace London (APTL) to more accurately reflect consumption and demand, amounting to £233,000.

Richard Paterson, Director of Finance & Resources, reassured the Board that the revenue side had been thoroughly considered, including potential for increased online donations. He also confirmed that APTL was in a favourable financial position.

The Board was made aware of potential risks associated with the budget, including car parking income not meeting targets, ongoing inflationary pressures, fundraising targets not being met, and energy costs not falling as forecasted.

Car Parking Charges Review

The Board approved an increase in car parking charges at Alexandra Palace. The new charges will be a flat rate of £1.75 per hour, with the first 30 minutes remaining free. This decision aims to increase income and simplify the tariff structure.

The review noted that car parking charges were first introduced in July 2023, following a stakeholder consultation in 2019 and a Board decision in September 2020. The current tariffs were:

• 30 minutes: Free
• 30 minutes to 1 hour: £1.50
• 1 to 2 hours: £3.00
• 2 to 3 hours: £4.50
• 3 to 4 hours: £6.00
• Up to 24 hours: £8.00

The projected income from car parking for 2023/24 was £335,500. The proposed increase is expected to generate an additional £100,000, bringing the total projected income to £496,500, an increase of 25%.

The recommended option, Option 1, was chosen because it yields the highest increase in income, ensures those parking for longer periods pay a fairer price, simplifies tariffs, and disincentivises long-term parking which can present a security risk. The new tariffs will be presented as:

• 30 minutes: Free
• 30 minutes to 1 hour: £1.75
• Per hour thereafter: £1.75

Councillor Sean O'Donovan raised concerns about the potential for increased overnight parking and the risk of inebriated drivers being hesitant to pay the higher fee, potentially leading to drink-driving incidents. The Board was informed that no such incidents had occurred to date. The role of car park stewards was clarified as providing assistance and guidance, with their working patterns recently adjusted to better monitor parking.

The Board noted that the proposed charges are still cheaper than parking in many other London boroughs, including those in Haringey. The provision of car parking at Alexandra Park and Palace was acknowledged as both a convenience for visitors and essential for accessibility, particularly for individuals with disabilities. Exemptions from charges are in place for registered disabled individuals and ice rink users.

The Board requested an update on the observed effects of the implemented car parking charges in six months' time.

The meeting also noted exempt information regarding the APTL budget position for 2024/25.