Agenda and draft minutes

Minute of Meeting of  17 September 2019 to be agreed and signed.   (Copy attached.)

1.0    MINUTE

1.1    There had been circulated copies of the Minute of the Kelso Common Good Fund Sub-Committee held on 17 September 2019. 

         DECISION

         AGREED to note the Minutes for signature by the Chairman.

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

2.0     MONITORING REPORT FOR 6 MONTHS TO 30 SEPTEMBER 2019 

2.1     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 2019, a full year projected balance sheet values as at 31 March 2020.  Appendix I provided the projected income and expenditure position which showed a projected surplus of £9,595 for the year.  Appendix 2 provided the projected balance sheet value to 31 March 2020 and projected 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 30 September 2019.  Appendix 4 showed the value of the Kames Capital Investment Fund to 30 September 2019. 

                     DECISION

          NOTED:-

(i)        the projected income and expenditure for 2019/20 in Appendix 1 of the report;

(ii)       the projected 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.

Consider a request for financialassistance received from Kelso Over 60s Club.  (Copy application and financial statement attached.)

3.0    APPLICATIONS FOR FINANCIAL ASSISTANCE

          Kelso Over 60s Club

3.1     There had been circulated copies of an application for Financial Assistance from Kelso Over 60s Club requesting £400 towards the Over 60’s Annual Christmas Lunch.  The application explained that the Club provided coach trips during the year, entertainment at monthly meetings between October  and May and an Annual Christmas Dinner for Over 60s within the Kelso area.  Formerly, Kelso OAP Association, the club has been going since the 1950s and had 85 paid members at present who paid an annual subscription and a small amount towards the Christmas Lunch.  Funding had been received from Charity Begins at Home and Kelso Farmers Market and the application was to cover the remaining costs.  The Pensions and Investments Manager highlighted that the club had made a net profit of £762.73 in 2018 and had funds totalling £1,548.41 as at December 2018.  It was acknowledged that there was a hard working Committee running the club and the Annual Christmas lunch was of significant value to those who may be socially isolated and  look forward to this event every year.  Councillor Mountford expressed discomfort that the Club submitted a request for the same amount every year, regardless of other funding received and balances.  

          DECISION

AGREED:-

(a)          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 in 2019; and  

(b)       that the Club be advised that there were other competing applications made to the   Common Good and it may not always be able to financially support to the same level each year.