Agenda item

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

2.1       There had been circulated copies of a report by the Director Finance & Corporate Governance providing details of income and expenditure for the Selkirk Common Good Fund for the nine months to 31 December 2021, a full year projected out-turn for 2021/22,  projected balance sheet values as at 31 March 2022 and proposed budget for 2022/23.   Treasury Business Partner, Sara Halliday, highlighted the main points of the report and appendices and provided further information in response to Members’ questions.   Appendix 1 to the report provided the projected income and expenditure position for 2021/22 and the proposed budget for 2022/23.  This showed a projected deficit of £22,067 for the year.  Details of grants and donations provided by the Common Good Fund were provided in a table within the report. Appendix 2 of the report provided a projected balance sheet value as at 31 March 2022 showing a projected decrease in the reserves of £124,564.  A breakdown of the property portfolio showing projected rental income and net return for 2021/22 and actual property income to 31 December 2021 was shown in Appendix 3a whilst Appendix 3b provided a breakdown of the property portfolio expenditure for 2021/22 and actual property expenditure to 31 December 2021.Appendix 4 provided a breakdown of the property portfolio showing projected property valuations at 31 March 2022. The current position of the Aegon Asset Management Investment Fund was shown in Appendix 5 to the report.

2.2       In response to an issue raised regarding the advertised sale of the business at the Court House Coffee Shop, the Solicitor explained that the Council should be notified of any sale or intention to sell given the provisions of the lease for the property, and that any future holder of the lease would have to be suitably vetted by the Council in relation to their financial standing prior to any assignation. The Chairman agreed to investigate the sale with the leaseholder, whilst the Solicitor advised that the lease would have to be assigned by Scottish Borders Council.

2.3       In terms of paragraph 5.4 of the report, Community Councillor King enquired about the measures that the Sub Committee were undertaking to try and reach National sustainability levels, in particular with regard to Selkirk Regeneration exploring the installation of solar arrays on Common Good owned land, and whether the Sub-Committee could explore the potential income that could be generated from renewable energy installations placed on Common Good owned land. The Chairman explained that the Common Good did not have the resources to explore such a project on its own, but undertook to investigate the viability of such a project.

DECISION

(a)        AGREED:-

(i)         the projected income and expenditure for 2020/21 in Appendix 1 to the report;

(ii)        the proposed budget for 2022/23 as shown in Appendix 1;

(iii)       that the Chairman would investigate the listed sale of the business at the Court House Coffee shop; and

(iv)       to explore the viability of using Common Good owned land to generate income from renewable energy sources to help reach National sustainability levels.

(b)       NOTED:-

(i)         the projected balance sheet value as at 31 March 2022 in Appendix 2 to the report;

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

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