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Melrose Common Good Fund Sub Committee - Tuesday, 16th June, 2026 3.30 pm
June 16, 2026 at 3:30 pm Melrose Common Good Fund Sub Committee View on council website Watch video of meeting Read transcript (Professional subscription required)Summary
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The Melrose Common Good Fund Sub Committee met on Tuesday 16 June 2026 to review the fund's financial performance for the year ending 31 March 2026 and to approve the budget for the upcoming financial year. The committee approved the recommendations presented in the monitoring report, which detailed the fund's financial position and future projections.
Monitoring Report and Budget Approval
The committee considered the monitoring report for the 12 months to 31 March 2026 and the proposed budget for 2026/27. Catriona Ewen, Statutory Reporting & Treasury Business Partner, presented the report, which detailed the actual income and expenditure for the Melrose Common Good Fund.
The report indicated a cash surplus of £8,206 for the year ending 31 March 2026, which was £600 ahead of the previous forecast. Future year forecasts suggest the fund's surplus will increase by £1,000 per annum over the next three years, driven by investment income and interest on cash balances. The value of the AGON Asset Management Investment Fund at 31 March 2026 was £15,602, an increase of £1,200 from the previous year, representing a small unrealised gain. Investment income for the year was £834, a return of 5.34%, outperforming the target of 5%. The committee was informed that the full audited accounts for the fund would be presented at a later date, following the conclusion of the statutory audit.
Councillor John PatonDay commented, You've got off really lightly to take Katrina is all I can say.
The committee approved the recommendations presented in the report, which included noting the actual income and expenditure for 2025/26, agreeing the draft budget for 2026/27, noting the position of the Aegon Asset Management Investment Fund, and noting the final audited position for the year ended 31 March 2025.
The Melrose Common Good Fund is a charitable fund managed by the Scottish Borders Council, intended to benefit the local community of Melrose. The fund's income is derived from investments and interest on cash balances, and its expenditure is used for various community projects and initiatives. The financial monitoring and budgeting process ensures the responsible management and sustainable use of these funds.
The meeting also confirmed the date of the next meeting as Tuesday, 15 June 2027.
