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 also discussed an update on estates matters, specifically minor tree works at Ladhope Woodland.

Financial Monitoring Report

The committee received a report detailing the income and expenditure for the Galashiels Common Good Fund for the year ending 31 March 2026, along with a draft budget for the year to 31 March 2027 and forecasts for the subsequent two years. The fund reported a surplus of £36,506 as of 31 March 2026, which was higher than the previously forecasted £32,870, largely due to stronger than anticipated investment income.

The report indicated that no property expenditure was incurred during the year, aligning with forecasts. However, £1,655 was spent on professional services for a survey of Ladhope Woodland. For future years, a general budget of £1,500 per year has been proposed to cover any ad hoc or reactive maintenance requirements.

Grants and other donations approved for the year ending 31 March 2026 amounted to £3,000 but remained unspent. This £3,000 annual budget has been maintained for the next three years.

The investment fund showed an income of £8,564 for the year, representing a 5.34% return, which exceeded the 5% target. The value of the investment at 31 March 2026 was £160,286, with a small unrealised loss of £110. Despite fluctuations in global markets due to economic and political unrest, the fund's performance was ahead of forecasts, with external managers Agon maintaining a balanced portfolio.

The committee noted the information presented and approved the draft budget for the year ahead.

Estates Update

An update was provided on planned minor tree works along the Ladhope burn. The estimated cost for these works was £1,700 plus VAT, which was slightly higher than the previously anticipated £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.

Previous Minutes

The minutes of the previous meeting held on 17 March 2026 were approved, with a minor correction noted regarding the meeting's conclusion time.

The meeting also included a discussion on private business, for which the public were excluded.