Agenda and minutes

Minute of 28 October 2014 to be noted and signed by the Chairman.  (Copy attached.) 

The Minute of Meeting of 28 October 2014 had been circulated.

DECISION

NOTED for signature by the Chairman.

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

There had been circulated copies of a report by the Chief Financial Officer detailing the transactions on the Lauder Common Good Fund for the 9 months to 31 December 2014, projecting full year Revenue Income and Expenditure for 2014/15 and balance sheet values at 31 March 2015.  Mrs Robb explained that the layout of this report had been reviewed and it was hoped that the new format would provide Members with clear and user friendly information.  It was noted that the format of the report could be reviewed again should Members request this.  Appendix 1 provided a projected income and expenditure position and showed a projected deficit of £1,226 for the year.  This figure assumed full expenditure of the grants budget, of which £2,061 remained to be allocated.  Appendices 1 and 3 provided details of the projected rental income for 2014/15 with Appendix 3 giving the figures relating to the projected annual rental income and it was noted that there was no change from the previously reported estimate.  Appendix 2 provided a projected Balance Sheet to 31 March 2015 and showed a projected increase in the Capital Reserve of £1,533 arising from unrealised movement on the Newton Fund investment and a projected cash balance of £10,558 at 31 March 2015.  Appendix 4 gave details of investments externally managed by the Newton Real Return Fund and noted that the Capital value had increased to £200,350 as at 31 December 2014.  In relation to non-property related income, the report explained that the projected outturn included an estimate for the interest receivable on cash deposited with the Council, the details of which would not show as actual income until the end of the financial year as it was dependent on interest rates and the average cash revenue balance invested over the full financial year.  Members noted that the annual rate of interest was likely to be around 0.4%.  The report further explained that distributions from the Newton Fund were made twice yearly in September and February and that Lauder Common Good Fund received £3,409 at the end of September 2014.  With reference to the previously agreed grant to Lauderdale Community Council, it was noted that the amount of the first payment had not yet been spent and that no further payment would be authorised at this time.  Members noted that the SBC Loans Fund showed a projected balance of £10,558 at 31 March 2015 and following discussion, it was agreed that £5,000 be transferred to the Newton Investment Fund.

DECISION

(a)       NOTED:-

            (i)    the projected Balance Sheet as shown in Appendix 2 to the report;

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

            (iii)  the current position of the investment in the Newton Fund as detailed in Appendix 4.

(b)       AGREED:-

            (i)    the projected outturn for 2014/15 as detailed in Appendix 1;

            (ii)   that, in respect of the previously agreed grant to Lauderdale Community Council, the amount of the first payment had not yet been spent  ...  view the full minutes text for item 2.

Consider report by the Service Director Commercial Services.  (Copy attached.)

Following discussion, Members agreed to consider the report on Access Rights to Muircleugh Wind Farm, Lauder under Private Business.

DECISION

AGREED to consider this report under Private Business.

PRIVATE BUSINESS

DECISION

AGREED under Section 50A(4) of the Local Government (Scotland) Act 1973 to exclude the public from the meeting during consideration of the business contained in the following items on the grounds that they involved the likely disclosure of exempt information as defined in paragraph 9 of part 1 of Schedule 7A to the Act.

SUMMARY OF PRIVATE BUSINESS

ACCESS RIGHTS TO MUIRCLEUGH WIND FARM, LAUDER

1.         The Sub-Committee considered a report by the Service Director Commercial Services on Access Rights to Muircleugh Wind Farm, Lauder.

PUBLIC BUSINESS

          URGENT BUSINESS

          Under Section 50B(4)(b) of the Local Government (Scotland) Act 1973, the Chairman was of the opinion that the items dealt with in the following paragraphs should be considered at the meeting as a matter of urgency, in view of the need to keep Members informed.

Members were informed that repairs were required to the roadside fence bordering a small grazing paddock on Common Good land opposite the cemetery in Lauder.  Mr Morrison advised that a small outlay might be needed to carry out this work.

DECISION

AGREED that repair work to the roadside fence bordering a small grazing paddock on Common Good land opposite the cemetery in Lauder be carried out.