Agenda and minutes

The Chairman varied the order of business as shown on the agenda and the Minute reflects the order in which the items were considered at the meeting.

Minute of Meeting of 14 September 2016 to be agreed and signed.   (Copy attached.)

There had been circulated copies of the Minute of the Kelso Common Good Fund Sub-Committee held on 14 September 2016. 

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

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 six months to 30 September 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 2016/17 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 September 2016.  Appendix 4 showed the value of the Newton Fund to 30 September 2016.  The Capital and Investments Manager, Mrs Robb, advised that the Newton Fund had delivered a positive absolute return although slightly behind the benchmark.

DECISION

NOTED:-

 the projected Balance Sheet value to 31 March 2017 in Appendix 2 of the report;

the summary of the property portfolio in Appendix 3 of the report; and

the current position of the investment in the Newton Fund in Appendix 4 of the report.

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

With reference to paragraph 2 of the Minute of 14 September 2016, the Estates Manager, Mr Hastie, advised that the original estimate for a replacement fence had been between £4k to £5k; the cost of repair, with a post and wire fence, would be approximately £1k.  Mr Hastie further advised that he would negotiate with the owner for a contribution towards the costs and estimated that Kelso Common Good’s contribution would be up to £400.00.  The Sub-Committee agreed to contribute up to £400.00 towards the costs of repair to the fence.   Mr Hastie confirmed that officers would continue to monitor the condition of the fence.   The Sub-Committee noted that management of the woodland would need to be considered in the future. 

DECISION

AGREED to contribute up to £400.00 towards the cost of repairs to the fence at Pinnaclehill Woodlands.

MEMBER

Councillor Mountford left the meeting following the above item.  He intimated that he supported the following two requests for financial assistance. 

Consider request for financial assistance from Kelso Christmas Decoration Fund.  (Copy application and accounts attached.)

Christmas Decoration Fund.  It was explained that the application was in respect of electricity and erecting the Christmas lights in Kelso in 2016 the sum of £750. 

DECISION

AGREED to support the application for financial assistance for Kelso Christmas Decorations Fund for 2016 in the sum of £750.

Consider request for financial assistance from the Kelso Over 60s Club (Copy application and accounts attached.)

There had been circulated copies of an application for Financial Assistance from Kelso Over 60s Club.  It was explained that the Club provided Outings, Entertainment and an Annual Christmas Dinner for Over 60s within the Kelso area.  The application presented to the Sub-Committee was a request for £400 towards the cost of the Annual Christmas Dinner.

DECISION

AGREED        to support the application for financial assistance for Kelso Over 60s Club in the sum of £400 towards the costs of the Annual Christmas Dinner.