The Galashiels Common Good Fund Sub Committee met on Thursday 11 June 2026 to review the fund's financial performance and approve the budget for the upcoming year. The committee noted a healthy surplus and approved a budget that maintains current spending levels. The meeting also included an update on planned tree works at Ladhope Woodland.

Financial Monitoring Report and Budget Approval

The committee reviewed the financial monitoring report for the year ending 31 March 2026 and approved the draft budget for the year ending 31 March 2027. The report indicated a cash surplus of £36,506 at the end of the financial year, which was higher than the previously forecasted £32,870, largely due to better-than-expected investment income.

The investment fund, managed by Agon, generated an income of £8,564, representing a return of 5.34%, exceeding the target of 5%. The total value of the investment fund at 31 March 2026 was £160,286, with a small unrealised loss of £110. Despite global market fluctuations, the fund has performed well, with external managers maintaining a balanced portfolio.

The report also detailed property expenditure, noting that £1,655 was spent on a survey for Ladhope Woodland, which was categorised under professional services. A general budget of £1,500 per year has been proposed for future ad hoc or reactive maintenance requirements for properties.

Regarding grants, £3,000 was approved for the year ending 31 March 2026 but remained unspent. This amount has been maintained as the annual grants budget for the next three years.

The committee approved the recommendations to note the financial information and to approve the draft budget for 2026/27. Councillor Hannah Steel, Chair of the committee, noted that the full accounts for the trust would be presented following the statutory audit.

Estates Update

An update was provided on planned tree works along the Ladhope burn. The cost for these works was confirmed at £1,700 plus VAT, which was slightly higher than the previously estimated £1,500. The committee expressed their comfort with this figure and agreed to proceed with the works. The budget figures were subsequently updated to reflect the £1,700 cost.

The meeting concluded with the committee moving to private business.