Agenda and minutes

Minute of Meeting of 1 June 2016 to be agreed and signed.   (Copy attached.)

1.         There had been circulated copies of the Minute of the Kelso Common Good Fund Sub-Committee held on 1 June 2016. 

         DECISION

AGREED to note the Minutes for signature by the Chairman.

Consider Update.

1.            With reference to paragraph 4 of the Minute of 1 June 2016, the Estates Manager confirmed that he had met with Mr Coates, Greystones, 22 Pinnaclehill Park, Kelso who had been resident there for the past thirty years.  Mr Coates had confirmed that his title stated that the boundary of his property was to the inside of the fence, the hedge surrounding the properties on the inside of the fence belonged to the owners and was cut and well maintained.  The path running alongside the fence had been adopted by SBC in 1999, although, following the review of Common Good Assets in 2011 was now the responsibility of the Common Good.  Mr Hastie further explained that Mr Coates was not seeking total renewal of the fence, but new posts to be provided and installed, where required and the fencing repaired where required, which had previously been undertaken by the Council, while the matter was the responsibility of another Council Committee prior to  the Common Good Asset Review.  The estimated cost of replacing the fence was between £2,000 and £5,000.  The Sub-Committee were of the opinion that there was no need for the substantial wooden fence as the hedge was well established and requested that an estimate for a post and wire fence be obtained, which was what the Council were legally required to  provide.  It was suggested that  the Estates Manager speak to Mr Coates again, offering the cost of a post and wire fence and should Mr Coates wish another type of fence, he contribute the difference.

DECSION

(a)  NOTED the cost of replacing the fence as it stands.

(b)       AGREED that the Estates Manager:-

(i)     obtain an estimate for a post and wire fence;

(ii)   negotiate with Mr Coates with regard to the Common Good providing a post and wire fence and, should Mr Coates desire the same kind of fence, he be asked to contribute to the cost.

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

          MONITORING REPORT FOR 3 MONTHS TO 30 JUNE 2016

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 for 3 months to 30 June 2016 and full year projected out-turn for 2016/17 and projected balance sheet values as at 31 March 2017.    Appendix I provided the projected income and expenditure for 2015/16 which showed a deficit of £3,326 for 2016/17.  Appendix 2 provided the projected balance sheet value to 31 March 2016 and projected a decrease in reserves of £45,826.  Appendix 3 provided a breakdown of the property portfolio showing projected rental income for 2016/17 and actual property expenditure to 30 June 2016.  Appendix 4 showed the value of the Newton Fund to 30 June 2016.  It was explained that should the budget of £1,000 be not used, the deficit would be reduced.  The Capital and Investments Manager advised that there would be a Seminar with representatives from the Newton Fund on Wednesday, 19 October 2016 which all stakeholders could attend.  In response to questions, the Capital and Investments Manager advised that there was no investment in Bonds and that her team were still working on providing a column for comparative figures, previously requested.      

                     DECISION

(a)       NOTED:-

(i)            the projected Balance Sheet value to 31 March 2017 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 investment in the Newton Fund in Appendix 4 of the report.

(b)       AGREED the projected Income and Expenditure for 2016/17 contained in Appendix I to the report.

          The meeting closed at 6.05 p.m.