Agenda item

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

There had been circulated copies of a report by the Director Finance & Corporate Governance which provided details of income and expenditure for the Selkirk Common Good Fund for the year 2021/22 including balance sheet values as at 31 March 2022, a full year projected out-turn for 2022/23, and  projected balance sheet values as at 31 March 2023. Treasury Business Partner, Sara Wilson, 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.  This showed a surplus of £14,283 for the year, which was better than the previously reported deficit on 9 February 2022, mainly as a result of an underspend in the Grants & Contribution and Repairs & Maintenance budgets. Appendix 2 of the report provided an actual balance sheet value as at 31 March 2022. It showed an increase in the reserves of £937,938, due mainly to the re-classification of assets exercise carried out by Estates & Legal, partially of-set by the annual release from the Revaluation Reserve.  A breakdown of the property portfolio showing actual rental income and net return for 2021/22 was shown in Appendix 3a whilst Appendix 3b provided a breakdown of the property portfolio expenditure for 2021/22.  Appendix 4 provided a breakdown of the property portfolio, showing actual property valuations at 31 March 2022. The current position of the Aegon Asset Management Investment Fund was shown in Appendix 5 to the report.  In response to a question regarding the £94 repair bill at the Swimming Pool, Ms Wilson undertook to investigate the matter and provide an explanation via email.  Regarding the grant that had been approved for Selkirk Musical Theatre Company, Ms Wilson explained that the funding had been agreed subject to the performance proceeding.  The Solicitor agreed to investigate with Mrs Macleod, Principal Solicitor whether the ownership of artefacts stored in Halliwell’s Museum had been explored.  With regard to the ownership of the Anthony Hain painting hanging in the Victoria Hall, Community Councillor King was of the opinion that the painting would be Common Good owned.  Mr King further raised concerns within the Selkirk Community about the number of Common Good owned items moved from St Mary’s Mill to Hawick due to flood risk.  The Chair suggested that Legal & Estates inspect the Library in Selkirk as a potential site to store Common Good owned artifacts such as paintings.

DECISION

(a)       AGREED:-

(i)           the projected income and expenditure for 2022/23 in Appendix 1 to the        report as the revised budget for 2022/23;

(ii)          that the Solicitor investigate with Mrs Macleod, Principal Solicitor whether the ownership of artefacts stored in Halliwell’s Museum had been explored, including the ownership of the Anthony Hain painting,

(iii)        that Legal & Estates inspect the Library in Selkirk as a potential site to store Common Good owned artifacts such as paintings.

(b)       NOTED:-

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

(ii)        the final balance sheet value as at 31 March 2022, and projected balance sheet value as at 31 March 2023 in Appendix 2 to the report;

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

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