Hassle At Havenstreet?
You have to be impressed with the steady development of the HQ on the fringes of a village between Ryde and Newport. The above is the sum total of rail infrastructure at Havenstreet in the very early days. Below is what you would find there today!
The station building is the red root structure near the crossing bottom right.
The USP of the line is that it tries to use rolling stock that would have been used on the line in the past. If actual stock is no longer available, something very similar is restored.
Here is loco Calbourne with a train of compartment coaches which lived on the line up until closure.
The Terrier Is hauling rake of beautifully curated four wheelers.
Work is now under way on even older coaches.
A recent project was the full restoration of a Ryde Pier petrol fuelled tram.
The railway also has one of the Island's ex Underground two car units on display.
There are no plans to electrify the line or, indeed, to tun heritage journeys on the National Rail line.
The latest infrastructure project has been to buy the former Ashey station building long since a private dwelling.
The idea is to restore the passenger facilities and convert the station master's residence area into holiday letting rooms.
Obviouly a very noble idea, but a very expensive one.
This project has caused some unease amongst members. Why, they ask, has the Railway taken out a hefty mortgage when the latest published accounts show a 'bank' balance of over one million pounds, enough to buy TWO Ashey stations for cash.
fbb has looked at the most recently published accounts c/o Companies House and, like so many instances in the corporate world, you need the brain of a doctorate in thermonuclear physics to understand what the numbers actually mean.
But the unease in the ranks seems to go deeper, with 'concerned' letters on matters of policy appearing in the Railway's magazine.
So much so that the chairman has seen fit to issue a 'statement' to members.
fbb (not a member, but a concerned bystander), has been provided with a copy. Herewith some extracts.
So there are finahncial challenges!
Although "all is well", a qualified and independent 'outsider' was asked to review the accounts for the last ten years and offer his professional conclusions.
Essentially the above paragraph outlines the problem, but it is a problem that all charities have, notably those that engage in trade; namely selling to the public.
A prudent approach is to only spend what you receive after trading expenses have been met. Legacies and donations should be set aside for development projects which may be speculative in the short term.
In a difficult cost of living environment, donations, legacies and grants are a always likely to be unpredictable.
The report goes on to admit that the Railway is making losses on its core activities, namely running trains and all the associated special events,
The chairman should not use the word "profit". In business terms, profit is what is paid to sharefolders and the Railway has no shareholders. It is a compamy 'limited by guarantee' (look it up!). The trustees ...
... can earn no dividends. Any surplus of income over expenses must, by law, be used to support the work of the charity.
If a corporate business needs more investment it can create and sell more shares. The Railway only has its trading surpluses and its donations etc.
So the Isle of Wight Railway, it IS living beyond its means.
That is not yet a crisis, but neither is it sustainable.
Havenstreet, we have a problem!
fbb also understands that the Chief Executive ...
... is not too high in the popularity stakes, especially amonst the volunteers on whom day to day operation depends.
Indeed, fbb understands that a vote of 'no confidence' in the CEO at a forthcoming General Meeting is being discussed round the back of the bike sheds.
It seems inevitable that as a charity grows, it appoints more paid staff and the essential volunteers can easily be left out and feel aggrieved.
There are tensions for the paid staff as well. fbb worked for a charity for nearly ten years. One year he was expected to deliver a surplus to fund long term development; then the next year he was expected to give discounts to 'members' and cover the loss of revenue by higher trading prices elsewhere.
Then developments were off the agenda completely!
incidentally, fbb's job title was 'Development Manager'!
It would be a sad day if the Railway's development and preservation projects were hampered or even cancelled because of poor financial management.
There are more big opportunities. 
It would be sad to see Havenstreet Humpty falling off his wall.
Humpty below is much more stable and was a more solid feature down the road at Blackgang Chine.
From memory, the Blackgang Humpty used to rock backwards and forwards, terrifying the kiddies, whilst the rhyme was sung in a tinny and near-tuneless dirge.
What fun!
Next Variety blog : Saturday 25 April
