Agenda and minutes
Venue: via Microsoft Teams
Contact: Willam Mohieddeen Tel: 01835 826504 Email: william.mohieddeen@scotborders.gov.uk
Link: link to live stream
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Consider Minute of the Meeting held on 14 December 2021. (Copy attached.) Minutes: There had been circulated copies of the Minute of the Meeting held on 14 December 2021.
DECISION AGREED to approve the Minute for signature by the Chairman.
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Consider Report by Director Finance and Corporate Governance. (Copy attached.) Minutes: 1.1
Copies of the report by Director Finance and
Corporate Governance had been circulated that detailed the income
and expenditure for the Lauder Common Good Fund Sub-Committee for
nine months to 31 December 2021 a full year projected out-turn for
2021-22, projected balance sheet values as at 31 March 2022 and
proposed budget for 2022-23. Appendix 1
of the report provided the projected income and expenditure
position for 2021-22 which showed a projected deficit of £1,766 for the year, which was less than the
surplus figure reported at the 14 December 2021 meeting, due to the
increase to the Repairs and Maintenance budget. Appendix 2 provided a projected balance sheet
value as at 31 March 2022 which showed a projected decrease in
reserves of £20,265. Appendix 3a
provided a breakdown of the property portfolio which showed a
projected rental income and projected net return for 2021-22 and
actual property income to 31 December 2021. Appendix 3b provided a breakdown of the property
portfolio which showed a projected property expenditure for 2021-22
and actual property expenditure to 31 December 2021. Appendix 4 provided a breakdown of the property
portfolio which showed a projected property valuations at 31 March
2022. Appendix 5 showed the value of the Aegon Asset Management
Investment Fund to 31 December 2021.
The Pension and Investments Manager explained that unspent money
would be carried forward into the next financial year. 1.2
The projected outturn position showed an amount of
£200 relating to interest receivable on cash held by Scottish
Borders Council. Also included were
dividends from the Common Good Funds investment in Aegon Asset
Management which amounted to £10,350. This was estimated at 4.5% return in the current
year as a result of the market value having dropped due to the
impact of the Covid-19 pandemic, with the proposed budget for
2022-23 having returned to the 5% target and the monthly
distribution profile projections provided by Aegon. The position was to be monitored closely with
Aegon Asset Management. Included within
other income was a rebate from Aegon Asset Management of £125
which, along with the £63 received in March 2021, had been
re-invested to purchase an additional 172 units. 1.3 The Pensions and Investment Manager advised that budgeting for the next year was difficult and to form a position, the average spend for the previous three years was used to determine the proposed budget for 2022-23. The proposed budget for the Lauder Common Good Fund for 2022-23 was £10,500 which, depending on future grant applications, could be altered by the Sub-Committee. Expenditure for the Woodland Grant was removed from the budget. Aegon had advised that they were not aware of events in Ukraine affecting investments and that they would continue to monitor the situation.
DECISION AGREED to:
(a)
the projected income and expenditure for
2021-22 as outlined in Appendix 1 of the report as the revised
budget for 2021-22, (b)
the proposed budget for 2022-23 as shown
in Appendix 1 of the report, (c) Note the projected balance ... view the full minutes text for item 2. |
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General Property Update Consider update by Estates Surveyor. Minutes: 1.1
The Estates Surveyor introduced the Estates Support
Assistant, Ms Beaumont, to the meeting and provided a Property
Update for Members. 1.2
Scottish Kennel Club Working
Trial 1.3
Woodland 1.4
Storm Damage 1.5
Lauderhill Sheep
Company 1.6
Lauder Golf Club |