The Coldstream Common Good Fund Sub-Committee met on Wednesday 24 June 2026 to review the draft income and expenditure for the year ending 31 March 2026. The committee noted a deficit of £13,237 for the year, primarily due to depreciation on the Coldstream Museum. Discussions also arose regarding the valuation and potential ownership of a portrait of General Monk and a collection of World War I books.

Monitoring Report: Draft Income and Expenditure

The Sub-Committee noted the draft income and expenditure for the Coldstream Common Good Fund for the year ending 31 March 2026. The report, presented by Cat Ewen, Statutory Reporting and Treasury Business Partner, indicated a deficit of £13,237 for the year. This deficit is attributed to a depreciation charge on the Coldstream Museum, which is a non-cash transaction and reflects the building's use rather than an actual cash outflow. The balance sheet shows a corresponding decrease in reserves by the same amount.

Looking ahead to the 2026-27 financial year, no significant cash transactions are forecast, with only depreciation and potential revaluations of existing properties anticipated. The report also confirmed the final audited position for the prior year, ending 31 March 2025, which showed a decrease in reserves of £45,847, largely due to depreciation and a downward revaluation of the Coldstream Museum. The committee agreed to note the information contained within the monitoring report, including the draft income and expenditure, the draft balance sheet, the property portfolio summary, and the final approved position for the year ended 31 March 2025.

General Monk Portrait Valuation

Councillor John Greenwell, Chair of the Sub-Committee, raised a point regarding the portrait of General Monk. He explained that a specialist artist had examined the portrait to assess its value, but it was not possible to definitively identify the subject as General Monk or to attribute the artist. Consequently, there is no change in its valuation. The expert's initial estimate for the portrait was between £6,000 and £8,000. There is ongoing research, as the headgear depicted on the portrait has led to speculation that it might represent a Provost from the 1800s rather than General Monk from the 1600s. Councillor Greenwell anticipates having a more definitive answer for the next Common Good meeting.

World War I Books

Councillor Donald Moffat brought to the committee's attention a collection of 13 volumes of books about World War I, which were purchased by the old Coldstream Town Council during the First World War. He expressed concern that these books, which have been present for a considerable time, might not be on the Common Good register and that one volume appeared to be missing. Councillor Moffat emphasised the importance of safeguarding these historical books for public access and reading.

Ron Kirk, a member of the committee, noted that the books were purchased by the former Town Council, which was succeeded by Scottish Borders Council. He suggested that further investigation would be needed to determine if these books could be formally added to the Common Good register, especially as common goods established after the abolition of boroughs in 1975 have limitations on acquiring assets. William Mohieddeen, Democratic Services Officer, agreed to look into the matter of the missing volume outside of the committee meeting.