Agenda and draft minutes

Minute of Meeting held on 2 February 2021 to be approved and signed by the Chairman.  (Copy attached.)

There had been circulated copies of the Minute of the meeting held on 2 February 2021.

DECISION

NOTED the Minute for signature by the Chairman.

Consider report by Executive Director, Finance & Regulatory.  (Copy attached.)

There had been circulated copies of a report by the Executive Director Finance and Regulatory detailing income and expenditure for the Lauder Common Good Fund for the 9 months to 31 December 2020, a full year projected outturn and projected balance sheet values as at 31 March 2021.  Appendix 1 to the report provided projected income and expenditure position for 2020/21.  This showed a projected deficit for the year of £12,832.  Appendix 2 to the report showed projected balance sheet values as at 31 March 2021.  This showed a decrease in reserves of £7,479.  Appendix 3(a) and 3(b) provided a breakdown of the property portfolio which showed projected rental income, net return for 2020/21, actual property expenditure to 31 December 2020 and proposed budget for 2021/22.  Appendix 4 provided the projected property valuations at 31 March 2021.  Appendix 5 detailed the value of the funds invested with Aegon Asset Management Investment Fund to 31 December 2020.  The Pensions & Investment Manager highlighted the main points of the report and commented on the improved Aegon performance, the income from the tree planting and the expected property expenditure.  The amount included for grants in the next financial year was based on an average but could be increased or reduced as required.

DECISION

AGREED:-

(a)       the projected income and expenditure and revised budget for 2020/21 and the revised budget for 2020/21 as shown in Appendix 1 to the report;

(b)     the proposed budget for 2021/22 as shown in Appendix 1 to the report;

(c)     to note the projected balance sheet value as at 31 March 2021 in Appendix 2 to the report;

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

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

Updates by the Estates Surveyor on:-

(a)     Funding; and

(b)     Proposed tree planting by Lauder in Bloom.

With reference to paragraph 2 of the Minute of 2 February 2021, the Estates Surveyor reported that the grant from Forest Carbon Ltd was issued on the basis of the time that the Common Good Fund was prepared to manage the woodland for either 45, 60 or 75 years.  If 75 years was agreed then an additional £15k would be payable.  Hugh Chalmers of Tweed Forum had recommended that the Common Good Fund commit to 75 years maintenance given the lifespan of the trees.  It was noted that 70% of the monies would be paid in Year 1 and 30% in 5 years.  Members agreed to support the proposal for 75 years maintenance.

DECISION

AGREED that the Forest Carbon Ltd grant be accepted on the basis of a 75 year maintenance commitment.

The Estates Surveyor advised that Lauder In Bloom had submitted a proposal to plant trees along the path near Calfward Park.  The largest area of land was in the ownership of the Common Good Fund.  There was an electricity wayleave in that area which needed to be checked to ensure trees did not impact on it.  The smaller piece of land appeared to be in the ownership of the Council but this needed to be confirmed and checked that there was no objection to tree planting.  Community Councillor Smith confirmed that the situation may have occurred due to the moving of a gate.  The Principal Solicitor asked if she could be advised of the outcome so that she could amend the Asset Register if necessary.

DECISION

AGREED to approve the tree planting by Lauder In Bloom subject to the necessary checks being made regarding the wayleave and land ownership.

Before proceeding with the private business, the following motion should be approved:-

“That under Section 50A(4) of the Local Government (Scotland) Act 1973 the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in the relevant paragraphs of Part 1 of Schedule 7A to the aforementioned Act.”

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 detailed in the Appendix to this Minute on the grounds that it involved the likely disclosure of exempt information as defined in Paragraph 8 of Part I of Schedule 7A to the Act.

SUMMARY OF PRIVATE BUSINESS

Private Minute of Meeting held on 2 February 2021 to be approved and signed by the Chairman.  (Copy attached.)

The private minute of the meeting held on 2 February 2021 was approved.