The William Hill Trust Sub-Committee met to consider a range of financial matters, including an application for financial support, as well as receiving an update on the Trust's finances. The meeting also included a review of the minutes from the previous meeting.

Application for Financial Assistance from Melrose Rotary Club

Melrose Rotary Club submitted an application for £675 to support its Christmas activities in Melrose.

The application outlined their goal to enhance the quality of life for elderly residents in sheltered accommodation by hosting an evening of entertainment and companionship. Additionally, they planned to provide necessary items to hospital patients, determined by the hospital's direction. The club aimed to foster community spirit and bring joy to children and residents through a Christmas parade and Santa's Grotto.

To gauge the success of their initiatives, Melrose Rotary Club planned to rely on public participation and feedback.

William Hill Trust Fund: Monitoring Report

The Director of Finance provided a report on the William Hill Trust Fund's financial performance for the six months leading up to 30 September 2024.

The report indicated a surplus of £63,379 as of 30 September 2024, with a projected year-end surplus of £73,164. This positive outlook was attributed to anticipated donations expected later in the year.

Furthermore, the report projected a surplus of £87,991 by 31 March 2026, potentially increasing to £102,818 during 2026/27, based on current assumptions.

The report highlighted that:

This report is based on the cash position of the Common Good Fund and therefore does not reflect any year end accounting adjustments which will be made.

Regarding grants and donations, as of 30 September 2024, £11,760 remained available for allocation within the 2024/25 financial year.

The report also provided an update on the Investment Fund, noting an unrealised loss of £6,977 as of 30 September 2024, resulting from a decrease in the investment's value to £203,018 from its initial amount of £209,995. However, this represented an improvement compared to the unrealised loss of £12,487 recorded on 31 March 2024.