Issue - meetings

Consider report by Chief Financial Officer.  (Copy attached.)

3.0     MONITORING REPORT FOR 6 MONTHS TO 30 SEPTEMBER 2018 

3.1     There had been circulated copies of a report by the Chief Financial Officer which provided the income and expenditure for the Kelso Common Good Fund for six months to 30 September 2018, a full year projected out-turn for 2018/19 and projected balance sheet values as at 31 March 2019.  Appendix I provided the projected income and expenditure position which showed a projected surplus of £6,004 for the year.  Appendix 2 provided the projected balance sheet value to 31 March 2019 and projected a decrease in reserves of £36,496.  Appendix 3 provided a breakdown of the property portfolio showing projected rental income for 2018/19 and actual property expenditure to 30 September 2018.  Appendix 4 showed the value of the Kames Capital Investment Fund to 30 September 2018.  Councillor Robson raised the matter of insurance for the Pinnaclehill Woodland and questioned whether the Councils Public Liability Insurance covered the Woodland.  Gordon Clark agreed to check the deeds and report back to a future meeting.  

                     DECISION

(a)       AGREED:-

(i)      the projected income and expenditure for 2018/19 as shown in Appendix 1 to the report as the revised budget for 2018/19; and

(ii)     that Gordon Clark investigate whether the Councils Public Liability Insurance covered he Pinnaclehill Woodlands, Kelso.

(b)       NOTED:-

(i)          the projected balance sheet value as at 31 March 2019 as detailed in Appendix 2 of the report;

(ii)     the summary of the property portfolio in Appendix 3 of the report; and

(iii)    the current position of the Kames Capital PLC investment Fund contained in Appendix 4 of the report.