The Chambers Institution Trust meeting on Wednesday 20 May 2026 discussed the financial position of the Trust, property maintenance updates, and progress on Phase 1 and Phase 2 of its projects. Key decisions included the in-principle approval of the financial report, with full ratification to follow at the next meeting, and the confirmation that a bank account for the Trust has now been established.

Financial Report

Catriona Ewen provided an update on the Trust's financial position up to 31 March 2026. The Trust is currently in a deficit of £17,698 for the financial year, largely due to upfront advisory costs associated with property development plans. However, the draft budget for 2026-27 forecasts a small surplus, with total anticipated income of £26,000. Property costs are projected to increase in the following two years, which may worsen the cash position. The value of the Trust's investments has increased to £405,079, resulting in an unrealised gain of nearly £5,000, which is a positive shift from the previous year. The Trust is targeting a 5% return on investment over the next few years, though market volatility due to global events may impact this. The meeting agreed in principle to approve the financial report, with full ratification to occur at the next meeting after further clarification on certain income areas, such as leases for flats above the John Buchan Museum and the position with allotments.

Property Maintenance Update

Gareth Smith, Property Manager, provided an update on property maintenance. Quotes for work on the War Memorial, including stone and mortar repairs, and a second quote for the overall memorial, are to be considered in private business due to commercial sensitivities. Quotes for roof repairs to the kitchen area are also pending. A recurring leak in the front foyer area has been resolved, and work on the dressing room area, including painting, is expected to be completed within the next three to four weeks. Quotes for patching the main hall floor are awaited.

Phase 1 Project Update

The decant process for Phase 1 of the project is complete, with tenants including Go Tweed Valley and the Citizens Advice Bureau having moved out. While there were some initial teething issues, these are now reported to be resolved. The project is on track in terms of timing, with a recent project board meeting confirming this.

Phase 2 Feasibility Study

Two public consultation events have been held for the Phase 2 feasibility study, with a positive response noted, particularly from the Saturday event. Plans are being considered to display the proposals in the windows of the contact centre, subject to ongoing asbestos contractor work. Digital copies of the proposals have been distributed to Civic Society members and the People's Orchestra. The feasibility study and business plan are being finalised, and efforts are being made to make printed copies available to the public, potentially at the foyer or the Eastgate.

Friends of the Chambers Institution Report

Sam Coe, Chair of the Friends of the Chambers Institution (FoCI), reported on the organisation's progress. FoCI has formally adopted its constitution and is proceeding with recruiting trustees. A free banking account is being set up, with the capacity to handle up to £250,000. Six new members were recruited during the public consultation. Future actions include gathering more members and considering trustee recruitment. Discussions also took place regarding how to best advertise FoCI and encourage membership, with suggestions including social media, community council meetings, and potential stalls at local events. The possibility of organisational membership, such as from the Guildery, was also raised.