Agenda and minutes

Minute of Meeting of 22 March 2021 to be agreed and signed.  (Copy attached.)

1.0         MINUTES

1.1         There had been circulated copies of Minutes of the Jedburgh Common Good Fund Sub-Committee held on 22 March 2021.

              DECISION

              NOTED the Minute.

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

2.0         MONITORING REPORT FOR 12 MONTHS 31 MARCH 2021                                    

2.1         There had been circulated copies of a report by the Executive Director, Finance and Regulatory which provided details of the income and expenditure for the Jedburgh Common Good Fund for the year 2020/21 including balance sheet values as at 31 March 2021, a full year projected out-turn for 2021/22, and projected balance sheet values as at 31 March 2022.  Appendix 1 provided the projected income and expenditure for 2020/21 which showed a projected surplus of £33,044 for the year, which was better than the surplus figure reported at the 23 March 2021 meeting, as a result of an underspend in the Grants and Donation budget.  Appendix 2 provided actual balance sheet value as at 31 \March 2021, which showed an increase in the reserves of £166,920, due to the annual release from Revaluation Reserve off-set by unrealised gain on the Aegon Asset Management Fund.  Appendix 3(a) provided a breakdown of the property portfolio showing actual rental income and net return for  2020/21.  Appendix 3(b) provided breakdown of the property portfolio showing actual property expenditure for 2020/21.  Appendix 4 provided a breakdown of the property portfolio showing actual property valuations at 31 March 2021.  Appendix 5 detailed the value of the Aegon Asset Management Investment Fund to 31 March 2021.  The Pension & Investment Manager highlighted the main points in the report and answered members’ questions, as well as advising that Aegon would be presenting to the Trustee’s later in the year at the annual Trustee meeting. 

              DECISION

AGREED to:-

(i)        Note the actual income and expenditure for 2020/21 in Appendix 1;

(ii)       Note the final balance sheet value as at 31 March 2021, and projected     balance sheet value as at 31 March 2022 in Appendix 2;

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

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

Consider a request for financialassistance received from Jed Legion Football Club towards the Pavilion Upgrade.  (Copy attached.)

3.0       APPLICATION FOR FINANCIAL ASSISTANCE

3.1       Jedburgh Legion Football Club               

There had been circulated copies of an application from the Jedburgh Legion Football Club requesting financial support in the sum of £15,000 towards the upgrade of the Pavilion.  The proposal was to upgrade the interior of the Pavilion/Clubrooms particularly the wet areas including showers/toilets and changing rooms, which had deteriorated over the years and were no longer considered fit for purpose.  The total cost of the Upgrade was estimated at £30,000, with £5,000 having been secured from the Co-op Local Community Fund, £16,000 from the Covid Business Closure/Restart Grant and £3,000 from fundraising.  The Sub-Committee raised the following concerns with regards to the application:-

·         No evidence that other sources of funding had been explored

·         The total cost of the upgrade was stated as £30,000 and £15,000 was sought from the Common Good, however there was no evidence of costings and no quotes for the work (3 Quotes is what is asked for)

·         There were no drawings/sketches/plans to illustrate what work was proposed and whether the facility would be DDA compliant etc.

·         The Club did not have an Equal Opportunities Policy or Equality Statement

·         Whether the grant of £16,000 awarded to cover loss of revenue due to Covid lockdown could be used to fund a capital project.

·         Whether a feasibility study had been carried out in terms of other sports facilities and community groups using the upgraded facility when the Jedburgh Campus had been purpose built for these activities.

The Sub-Committee felt unable to continue consideration of the application until these matters had been addressed.

             DECISION

             AGREED:-

(a)       to defer consideration of the application until such time as the concerns raised above had been addressed;

(b)       that the Democratic Services Officer write to the Jedburgh Legion FC outlining the matters which required to be addressed.

(c)       that a further meeting be arranged to consider the application, following receipt of information addressing the concerns raised.