The Galashiels Common Good Fund Sub Committee met on 11 September 2025 to consider a monitoring report for the three months to 30 June 2025, and the private minute of the meeting held on 27 June 2025. The meeting was also scheduled to consider the minute of the meeting held on 27 June 2025.

Financial Monitoring Report

The sub committee was scheduled to consider a report by the Director of Finance, Suzy Douglas, which provided details of the income and expenditure for the Galashiels Common Good Fund for the three months to 30 June 2025, a full year projected out-turn for 2025/26 and high level forecast information for the following 2 years.

The report stated that it was based on the cash position of the Common Good Fund and therefore did not reflect any year end accounting adjustments required.

Appendix 1 of the report showed a summary of the total income and expenditure for the Common Good fund, which showed a surplus of £32,919 at 30 June 2025 reducing to a forecast surplus of £31,377 by 31 March 2026. The projected cash balance at 31 March 2027 showed a surplus of £31,558 improving to a forecast surplus of £31,744 by 31 March 2028. The report noted that:

The Committee should consider these positions when making decisions relating to future years.

Appendix 2 provided forecast property costs by year, and showed no expenditure to 30 June 2025, but £1,500 forecast to be spent by 31 March 2026.

Appendix 3 provided information on the approved grant budget for 2025/26 with £3,000 still available this financial year.

Appendix 4 showed the value of the Aegon Asset Management Investment Fund¹ at 30 June 2025 being £151,904 with forecast investment income for the year of £7,410. The report noted that the position at 31 March 2025 was an unrealised loss of £12,318 (7.69%) and so the position had improved. It clarified that any loss would only be realised upon disposal of the investment.

The report recommended that the sub committee note the actual income and expenditure forecast for 2025/26, 2026/27 and 2027/28 within Appendix 1, the summary of the property expenditure and net expenditure by property in Appendix 2, the grant budget available in year and future years within Appendix 3, and the current position of the Aegon Asset Management Investment Fund in Appendix 4.

Private Minute

The sub committee was scheduled to consider the private minute of the meeting held on 27 June for approval.