Agenda and minutes

Consider Minutes of Meetings held on 23 February and 8 April 2021.  (Copies attached.)

There had been circulated copies of the Minute of the meeting held on 23 February and 8 April 2021.

DECISION

NOTED the Minutes 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 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 to the report provided actual income and expenditure position for 2020/21.  This showed a deficit for the year of £6,927 which was better than previously reportedas a result of an underspend in the Grants and Donations and the general property expenditure budget.  Appendix 2 to the report showed actual balance sheet values as at 31 March 2021.  This showed an increase in reserves of £6,460, partly due to the annual release from Revaluation Reserve off-set by unrealised gain on the Aegon Asset Management Fund.  Appendix 3(a) and 3(b) provided a breakdown of the property portfolio which showed actual rental income, net return for 2020/21 and actual property expenditure for 2021/22.  Appendix 4 provided the property valuations at 31 March 2021.  Appendix 5 detailed the value of the funds invested with Aegon Asset Management Investment Fund to 31 March 2021.  The Pensions & Investment Manager highlighted the main points of the report.

DECISION

AGREED:-

(a)       To note the actual income and expenditure for 2020/21 as shown in Appendix 1 to the report;

(b)     the projected income and expenditure for 2021/22 and the revised budget for 2021/22 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 Match 2022 as shown 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.

Consider request for Financial Assistance from Lauder Historical Society.  (Copy attached.)

There had been circulated copies of an application for funding from Lauder Historical Society for a grant of £1674 to help fund the production of a book called “The Hidden History of the Royal Burgh of Lauder” at a total cost of £2374.  Mr Scott, Secretary of the Society was present at the meeting and answered Members questions.  Members were happy to support the application and asked Mr Scott to advise them when the book was to be launched. He confirmed they would receive an invitation in due course.

DECISION

AGREED to award a grant of £1674 to Lauder Historical Society.

Update by Estates Surveyor.

The Estates Surveyor updated the Sub-Committee as detailed below.

4.1     Burnmill Planting

          This work was now complete along with the required fencing works with maintenance costs being met from the Penmanshiel Fund over the next 5 years.  The agreed contribution to the water pump and fencing for adjacent fields came to a total cost of £1,700 which was contained in the budget and would now be transferred over to the Penmanshiel Fund.

4.2     Grazing on Field known as Refuse Tips 1 and 2    

          The fencing works were now complete and the new tenant had been given early access to top and spray the field.  The cost of the fencing works was £1,500.

4.3     Lauder Common Woodland Planting

          Confirmation from Scottish Government Rural Payments was awaited regarding the transfer of land from the Lauderhill Sheep Company and it was hoped that this could be signed in the next few weeks.  The solicitors acting on behalf of the Lauderhill Sheep Company had been a bit slow to respond but this was being addressed by Mr. Middlemiss.

4.4     Lauderhill Sheep Company

          With regard to the maintenance of the fencing, Mr Middlemiss had carried out a review and provided a 5 year maintenance plan.  The Common Good Fund was responsible for 50% of any costs and which would be £3,400 in the current year, then £2,000, £3,000 and £3,000 respectively over the following financial years.  Very little work had been carried out for a number of years and the agricultural surveyor considered these sums to be reasonable.  There were also fences which involved adjoining landowners which would involve a contribution of 25% from the Common Good Fund which would be £800 in the current year. The required budgetary provision would be made to cover these works. The provision of sheep handling pens was also being discussed as the current pens were not fit for purpose.  The possibility of a modern moveable solution was being considered and there would be a report back to the sub-committee in due course.  In response to a questions the Estates Surveyor confirmed that the works were essential and she agreed with spreading them over 5 years.  The contribution was the Common Good Fund formed part of the terms of the lease. 

4.5     Lauder Park Pavilion

          A request had been received from the Football Club to erect a shed for storage of equipment in the compound at the rear of the building.  Members supported this proposal.

DECISION

(a)        NOTED the property updates as detailed above.

(b)       AGREED:-

(i)    to the proposed expenditure on the fencing for the Lauderhill Sheep Company as detailed above; and

(ii)   to approve the siting of a shed at the rear of the Pavilion for the storage of equipment by the Football Club.