The Galashiels Common Good Fund Sub Committee met on Tuesday 17 March 2026 to review the fund's financial monitoring report and receive an update on the Borderlands Multi-Use Trails project. The committee noted the fund's financial position and approved the recommendations presented in the monitoring report.

Financial Monitoring Report

The committee reviewed the monitoring report for the nine months ending 31 December 2025, presented by Ms Lizzie Turner, Chief Officer Finance & Procurement. The report detailed the income and expenditure for the Galashiels Common Good Fund, along with projected out-turns for the full financial year 2025/26 and high-level forecasts for the following two years.

Key points from the report included:

• A cash balance surplus of £34,444 as at 31 December 2025, with a projected net surplus of £32,870 by 31 March 2026.
• No property expenditure was forecast for the financial year ending 31 March 2026, with a projected spend of £1,500 for each of the following two years.
• £3,000 remained available for allocation in grants and other donations for the remainder of the financial year.
• The Aegon Asset Management Investment Fund had a value of £160,854 as at 31 December 2025, with a forecast income of £7,410 for the year. This represented an unrealised gain of £498 (0.31%), the first reported unrealised gain since 2022.

The committee agreed to note the actual and forecast income and expenditure, the summary of property expenditure, the grant budget available, and the current position of the investment fund.

Borderlands Galashiels Community Trails

Alexandra Fleming-Knox, Senior Economic Development Officer, provided an update on the Borderlands Multi-Use Trails project. This project, part of the Borderlands Place Programme, aims to develop a network of walking and cycling paths and trails, initially focusing on Ladhope Rail Phase 1. The project involves upgrading existing paths and constructing new ones within Ladhope Recreation Ground and adjacent areas.

The estimated cost for this initial phase is £337,000, with 90% of this funding sought through the Borderlands Place Program, leaving a requirement to find £31,000. The project has received formal approval from the Borderlands board for investment in Galashiels and is now moving to Stage 2B, requiring individual project-level business cases to be approved to unlock capital funding.

Councillor Euan Jardine, Leader of the Council, expressed strong support for the project, highlighting its potential to open up opportunities for the area and connect communities. He also enquired about the possibility of utilising funds from the Common Good Fund for the project. Ms Fleming-Knox confirmed that the trails would be multi-use, accessible to horse riders, cyclists, and people with wheelchairs, and that the project had significant buy-in from the Borderlands initiative. The committee was informed that further engagement with landowners, the planning department, and a potential woodland management plan would be undertaken before a formal request for project approval would be brought back to the committee.

Future Meeting Dates

The committee noted the scheduled future meeting dates: 11 June 2026, 10 September 2026, and 16 March 2027.