This meeting was scheduled to discuss the Lauder Common Good Fund's financial performance in the six months to 30 September 2024 and consider a report on the Fund's property assets. A report that was scheduled to be discussed in private was to provide an update on the status of Lauderhill Farm, a property owned by the Fund.

Finance Monitoring Report to 30 September 2024

A report by the Director of Finance¹ entitled Monitoring Report for 6 Months to 30 September 2024 ² was scheduled for consideration by the Committee. The report contains projected financial performance data for the current financial year to 31 March 2025, as well as forecasts for the following two financial years.

The report projects an overspend of £69,634 on the Fund in the current financial year, attributing this to projected costs due to be spent on the Shepherd’s cottage at Lauderhill Farm in the second half of the year. This overspend was forecast to reduce to £63,277 the following year and £58,575 the year after that.

The report provides an update on the value of the fund's assets, reporting an unrealised loss of £10,880 at 30 September 2024 on the Fund's investment portfolio, which was managed by Aegon Asset Management.

The report breaks down the projected expenditure on the Fund's properties for the current financial year and the next two financial years, noting that Forecast spend of £1,360 has been assumed for both 2025/26 and 2026/27 based on an average of the previous three years spend.

The report notes that £1,950 remains available to be allocated from the Fund's grants budget.

General Property Update

This item was listed on the agenda as a general update on Common Good property matters.