Port St Mary Commissioners have announced a small rate increase for the coming year.

The levy for 2009-10 will be 288p in the pound, a three pence rise on the current year’s figure.

It’s good news for residents but not for the local authority, which says it will have to put off some schemes and dip into its savings to make ends meet.

In a statement, the board says this year it’s important to manage finances prudently and tightly control costs.

Jason Roberts reports (text, below, from attached audio file):

The statement says residents will get a five per cent discount on rates if they are paid early, before the end of June.

The commissioners say the next twelve months will pose significant challenges and so they set themselves a tough target to control spending.

In order to do that, they say projects like extended decorative lighting will have to be put back. They also expect to make a loss over 2009-10.

In order to meet the shortfall, they say they will have to spend some of the surplus cash they have built up over the last two years.

(Picture: A long distance view of Port St Mary, from manxscenes.com).