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Financing & Revenue Generation

Soufriere Marine Management Association  /  Programmes  /  Financing & Revenue Generation

Financing & Revenue Generation

The objectives of this programme are:

  • to provide funding for the management and development of the SMMA and for the operation of THE ASSOCIATION;
  • to ensure the effectiveness and financial sustainability of all other management programmes;
  • to secure the flexibility and self-sufficiency of the SMMA.

The main instruments of implementation of this programme are:

  • the collection of fees for all commercial uses, at rates and under conditions to be set by THE ASSOCIATION;
  • the payment for services provided in support of research activities. Such requirements may be waived by THE ASSOCIATION, particularly when the research contributes directly to the management of the SMMA;
  • the sale of items consistent with the image and objectives of the SMMA;
  • the granting of concessions for the use of facilities owned or managed by THE ASSOCIATION;
  • the receipts of grants and donations from individuals and organisations who subscribe to the mission and objectives of THE ASSOCIATION and are able to contribute to its activities;
  • the receipt of subventions from the Government of St. Lucia;
  • the provision of technical services to other organisations in the areas of competence of the staff of THE ASSOCIATION and the Parties to this agreement.

The management of all income and expenditure is the responsibility of THE ASSOCIATION, under the control of the Ministry with responsibility for Fisheries with the conduct of annual audits and the distribution of their results to all stakeholders, and with the preparation and use of annual budgets specifying revenue generation targets and projected expenditures.