Agenda and minutes

1.0              CHAIRMAN     

1.1              Due to the absence of Councillor Brown, Councillor Hamilton chaired the meeting.

         DECISION

         AGREED that Councillor Hamilton chair the meeting in the absence of Councillor Brown.

2.0              MINUTE

2.1              There had been circulated copies of Minutes of the Jedburgh Common Good Fund Sub-Committee held on 21 June 2017 and 17 August 2017.

DECISION

         NOTED the Minutes.

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

                   MONITORING REPORT FOR 3 MONTHS 30 JUNE 2017

3.1              There had been circulated copies of a report by the Chief Financial Officer which provided details of the income and expenditure for the Jedburgh Common Good Fund for the year 2017/18 together with balance sheet values as at 30 June 2017 and full year projected out-turn for 2017/18 and projected balance sheet values as at 31 March 2018.   Appendix 1 provided the projected income and expenditure for 2017/18.  This showed a projected deficit of £3,366 for the year.   Appendix 2 provided projected Balance Sheet value at 31 March 2018 and showed a projected decrease in the reserves of £14,966.  Appendix 3 provided a breakdown of the property portfolio showing projected depreciation charges and actual property expenditure to 30 June 2017.  Appendix 4 detailed the value of the Newton Fund to 30 June 2017.  The Capital and Investments Manager advised that KPMG Investment Managers had been instructed to review the Newton Fund to ensure that they were meeting objectives and the indications were that there are more attractive options available within the market which would provide an improved performance.  While the Performance Strategy was right, the investment managers may require to be changed.  The Fund continues to be monitored very closely and a report would be presented to full Council to seek approval to undertake a procurement exercise in line with the previously approved Scottish Borders Council Common Good and Trusts Investment Strategy.

            DECISION

(a)       NOTED:-

                   (i)      the projected balance sheet value as at 31 March 2018 in Appendix 2;

(ii)    the summary of the property portfolio in Appendix 3 to the report;

(iii)    the current position of the investment in the Newton Fund  contained in Appendix 4 to the report; and

(b)       AGREED the projected income and expenditure for 2017/18 in Appendix 1

Consider a request for financial assistance received from the Jethart Callants Festival.  (Copy Application and Accounts attached.)

4.0           APPLICATION FOR FINANCIAL ASSISTANCE

4.1            JethartCallant’s Festival

              There had been circulated copies of an application for Financial Assistance from the Jethart Callant’s Festival for the grant of £5,000 towards the costs of the 2018.  The application, which was submitted on an annual basis, advised that the festival covered a 3 week period of horse rideouts, ceremonial events and public entertainment for all ages – dances, family days, swimming gala, bike run etc.  It was acknowledged that the Festival brought the townspeople together and generated considerable income for the town trades while attracting visitors to the town.  Following considerable discussion around fundraising for the event, it was agreed to grant the Jethart Callant’s Festival £5,000.  However it was to be stipulated in the letter to the Jethart Callant’s Festival Committee that a similar amount would unlikely be granted in subsequent years and that the Jethart Callant’s Festival Committee should look to other sources for financial assistance. 

                        DECISION

AGREED to award a grant of £5,000 to the Jethart Callant’s Festival for 2018.

Consider a request for financial assistance received from the Jedburgh Pipe Band.  (Copy Application and Accounts attached.)

                 Jedburgh Pipe Band    

4.3            There had been circulated copies of an application for Financial Assistance from the Jedburgh Pipe Band for the grant of a donation towards the replacement of their minibus.  The application explained that the Jedburgh Pipe Band played for Jedburgh Festival and other local community events throughout the year.  The Pipe Band was highly respected and represented the Town of Jedburgh and the Borders at many varied bookings i.e.  Edinburgh Castle, D-Day commemorations, France and Italy/Scotland Rugby Internationals.  The application went on to explain that the Pipe Band had a minibus which was in a poor state of repair and that they were seeking to obtain a replacement vehicle, in order to continue with the engagements without the additional expense and inconvenience of hiring buses.  The estimated cost of replacing the vehicle was £10,000.  Fundraising of £2,213.92 had been secured and £3,701.48 had been paid from the SBC Jedburgh Minibus Fund, giving a total of £5,915.40.  There remained £4,084.60 outstanding.  The Sub-Committee commented on the fact that there was no evidence of the group applying to any other funding sources, as the Common Good should be viewed as a last resort.  The Sub-Committee were of the opinion that the minibus should be available for Community Use rather than solely for the Pipe Band and requested that the Community Group works together in terms of procuring and maintaining the minibus.  

              DECISION

              AGREED:-

          (a)          to award a grant of £4,000 to the Jedburgh Pipe Band towards the purchase of a replacement minibus; and

(b)          that the minibus be available for Community Use within Jedburgh rather than solely for the Pipe Band and requested that Community Group works together in terms of procuring and maintaining the minibus.  

The meeting closed at 4.50 p.m.