Agenda and minutes

Minute of Meeting of 13 September 2022 to be agreed and signed.  (Copy attached.)

MINUTE

1.1    Copies of the Minute of the Kelso Common Good Fund Sub-Committee held on 13 September 2022 had been circulated.  

         DECISION

         AGREED to APPROVE the Minute for signature by the Chairman.

Review Action Tracker (Copy attached.)

1.2     Action Tracker

          The Action Tracker had been circulated.  In terms of the actions in respect of the Pinnaclehill Woodland, the Chair advised that as there were a number of ongoing inter related issues, the matter would remain on the Action Tracker in the meantime.

DECISION

NOTED.

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

MONITORING REPORT FOR 6 MONTHS TO 30 SEPTEMBER 2022     

There had been circulated copies of a report by the Acting Chief Financial Services Officer providing details of the income and expenditure for the Kelso Common Good Fund for the six months to 30 September 2022, a full year projected out-turn for 2022/23, including balance sheets values as at 31 March 2022, Appendix 1 to the report provided the projected Income and Expenditure position for 2022/23, which showed a projected surplus of £7,804 for the year.  Appendix 2 to the report provided a projected balance sheet value as at 31 March 2023 and showed a projected decrease in reserves of £53,675.  Appendix 3(a) to the report provided a breakdown of the property portfolio showing rental income and net return for 2022/23, and actual property income to 30 September 2022.  Appendix 3(b) provided a breakdown of the property portfolio showing projected property expenditure for 2022/23, and actual property expenditure to 30 June 2022.  Appendix 4 provided a breakdown of the property portfolio showing projected property valuations at 31 March 2023.  Appendix 5 detailed the value of the Aegon Asset Management Investment Fund to 30 September 2022.  The Pension & Investment Manager highlighted the main points in the report and answered Members' questions on the total value of the Common Good, the options for investment with Aegon, and the need to set a property budget for this year should work be required to Pinnaclehill Woodland. 

DECISION

(a)        NOTED:

(i)         the projected income and expenditure for 2022/23 in Appendix 1 to the report;

(ii)        the projected balance sheet value as at 31 March 2023 in Appendix 2 to the report;

(iii)       the summary of the property portfolio in Appendices 3 and 4 to the report; and

(iv)       the current position of the Aegon Asset Management Investment Fund in Appendix 5 to the report.

(b)        AGREED that no decision be made about further investment with Aegon until after the potential future works at the Pinnaclehill Woodland was known.

Walking Festival

Community Councillor Horsburgh raised the matter of funding for the Walking Festival which was being co-ordinated by Kelso Community Council in 2023.  Community Councillor Horsburgh was advised that as this was a Borders wide event, there were a number of funds to which applications could be made and assistance would be given to achieve this.  Community Councillor Horsburgh was further advised that should there be a shortfall following applications to these funds an application could be made to the Kelso Common Good for consideration.

DECISION

AGREED:-

(a)   that assistance be given to the Walking Festival in order to secure funding from the Funds available; and

(b)  that should there be a shortfall following applications to the Funds, an application could be made to the Kelso Common Good for consideration.