Agenda and draft minutes

Consider Minute of the Meeting held on 28 August 2023 for approval and signature by the Chair.  (Copy attached.)

There had been circulated copies of the Minute of the Meeting held on 28 August 2023.

DECISION

AGREED to approve the Minute for signature by the Chair.

Consider report by Director Finance and Procurement.  (Copy attached.)

There had been circulated copies of a report by Director Finance and Procurement that provided the details of the income and expenditure for the William Hill Trust Fund for the six months to 30 September 2023, a full year projected out-turn for 2023-24, and projected balance sheet values as at 31 March 2024.  Appendix 1 of the report provided the projected income and expenditure position for 2023-24 which showed a projected surplus of £11,557 for the year.  Appendix 2 of the report provided a projected balance sheet value as at 31 March 2024 which showed a projected increase in reserves of £11,557.  Appendix 3 showed the value of the Aegon Asset Management Investment Fund to 30 September 2023.  It was advised that the presentation of the Aegon Asset Management fund was being assessed so that there would be a focus on key information rather than repeating information each quarter.

DECISION

NOTED:

(a)       the projected income and expenditure for 2023-24 in Appendix 1 of the report;

(b)       the projected balance sheet value as at 31 March 2024 in Appendix 2 of the report; and,

(c)       the current position of the Aegon Asset Management Investment Fund in Appendix 3 of the report.

Consider report by Acting Chief Financial Officer tabled at 30 March 2023 meeting of Scottish Borders Council for noting by the Sub-Committee. (Copy attached.)

There had been circulated copies of a report by Acting Chief Financial Officer that was tabled at the 30 March 2023 meeting of Scottish Borders Council that provided Members of the intention by the Office of the Scottish Charity Regulator (OSCR) to remove the SBC Common Good Funds, charity number SC031538, from the Scottish Charity Register (the Register).  The 12 Common Good Funds (Coldstream, Duns, Eyemouth, Galashiels, Hawick, Innerleithen, Jedburgh, Kelso, Lauder, Melrose, Peebles and Selkirk) were registered with the Office of the Scottish Charity Regulator (OSCR) as 1 registered charity, registration number SC031538.  A letter received from OSCR in December 2022 was attached at Appendix 1.  This provided advance notification of the intention to remove the SBC Common Good Funds, registration number SC031538, from the Register, and outlined: the reason for the decision, the process by which the Charity would be removed from the Register and the effect of removal.  OSCR concluded that: Scottish Borders Common Good was not a ‘body’ with a constitution distinct and separate from the Council that was capable of being entered in the Register, that the Charity does not meet the charity test because it did not have purposes that consist only of one or more of the charitable purposes in section 7(2) of the 2005 Act 3, and because it had been concluded that the Charity did not have wholly charitable purposes an assessment of public benefit had not been carried out.  The Council’s Chief Legal Officer and Acting Chief Financial Officer agreed with OSCR’s conclusions that this was the correct approach.  Following deregistration, annual accounts would not be prepared, audited and submitted to OSCR.  The Common Good funds would instead be consolidated within the Council’s statutory accounts.  Outturn reports would continue to be presented to Common Good fund Committees setting out the annual income and expenditure associated with each fund and assets they held on their balances sheet at 31 March each year.  Separate records would still be maintained for each Common Good funds and current monitoring arrangements would continue.  The Democratic Services Officer advised that while this report had been tabled at a meeting of Scottish Borders Council and its recommendations agreed by Members, it was considered good practice for the report to be submitted for noting at each Common Good Fund Committee.

DECISION

NOTED the report.