Scottish Borders Council

Agenda and minutes

Venue: via MS Teams

Contact: Louise McGeoch Tel 01835 82500  Email:  lmcgeoch@scotborders.gov.uk

Link: link to live steam

Items
No. Item

1.

Appointment of Chairman

Minutes:

Councillor PatonDay, seconded by Councillor Linehan moved that Councillor Linehan be appointed as Chairman.  There being no other nominations, Councillor Linehan was unanimously appointed as Chairperson and took the Chair.

 

DECISION

AGREED that Councillor Linehan be appointed as Chairman.

2.

Minute pdf icon PDF 145 KB

Consider Minute of Meeting held on 14 December 2021.  (Copy attached.)

Minutes:

There had been circulated copies of the Minute of the meeting held on 14 December 2021.

 

DECISION

AGREED to approve the Minute for signature by the Chairman.

 

3.

Financial monitoring for 12 Months to 31 March 2022 pdf icon PDF 261 KB

Consider report by Director Finance and Corporate Governance.  (Copy attached.)

Minutes:

There had been circulated copies of a report by the Director, Finance and Corporate Governance providing the details of the income and expenditure for the Melrose Common Good Fund for the year 2021/22 including balance sheet values as at 31 March 2021 and proposed budget for 2021/22.  Appendix 1 to the report provided the actual income and expenditure for 2021/22 and showed a surplus of £521 for the year, which was better than the projected budget, due to an improvement in the return on the Aegon Investment Fund.  Appendix 2 to the report provided an actual balance sheet value as at 31 March 2022 and showed a decrease in the reserves of £2,770, partly due to the annual release from Revaluation Reserve off-set by the surplus for the year.  Appendix 3 to the report provided a breakdown of the property portfolio and Appendix 4 showed the value of the Aegon Asset Management Investment Fund to 31 March 2022.  Given the level of cash held by the Common Good Fund Ms Robb suggested that Members consider investing more with Aegon.  Members agreed that £5k of their cash balance be transferred to Aegon.

 

DECISION

AGREED:-

 

(a)       to note the actual income and expenditure for 2021/22 in Appendix 1 to the report;

 

(b)       the proposed budget for 2022/23 as shown in Appendix 1 to the report;

 

(c)       to note the final balance sheet value as at 31 March 2021 and projected balance sheet value as at 31 March 2023 as shown in Appendix 2 to the report;

 

(d)     to note the summary of the property portfolio as shown in Appendix 3 to the report;

 

(e)     to note the current position of the Aegon Asset Management Investment Fund as shown in Appendix 4 to the report; and

 

(f)      that £5k of the cash reserves be invested with the Aegon Asset Management Investment Fund.

 

 

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