Issue - meetings

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

2.0     MONITORING REPORT FOR 3 MONTHS TO 30 JUNE 2019  

          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 the three months to 30 June 2019 and full year projected balance sheet values as at 31 March 2020.  Appendix I provided the projected income and expenditure and showed a projected surplus of £9,595 for the year.  Appendix 2 provided a projected balance sheet value as at 31 March 2020, which showed a decrease in reserves of £32,905.  Appendix 3 provided a breakdown of the property portfolio showing projected rental income for 2019/20 and actual property expenditure to 31 March 2020.  Appendix 4 showed the value of the Kames Capital Investment Fund to 31 March 2020, which was on target. 

                     DECISION

(a)      AGREED the proposed budget for 2019/20 as shown in Appendix 1 to the report as the revised budget for 2019/20;

(b)     NOTED:-

(i)          the final balance sheet value as at 31 March 2020 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.