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 noted a surplus of over £36,000 for the year ending March 2026, largely due to higher-than-expected investment income. They also approved a budget of £1,500 for reactive maintenance of council properties.

Financial Monitoring Report and Budget Approval

The committee reviewed the financial monitoring report for the year ending 31 March 2026 and approved the draft budget for the year to 31 March 2027. The report, presented by Catriona Ewen, Statutory Reporting & Treasury Business Partner, indicated a cash surplus of £36,506 as of 31 March 2026, which was more favourable than the previously forecasted surplus of £32,870. This positive variance was attributed to higher investment income and no grants being approved or paid during the period.

The investment fund, managed by Agon, generated an income of £8,564, representing a return of 5.34%, exceeding the target of 5%. The value of the investment at 31 March 2026 was £160,286, with a small unrealised loss of £110. Despite global market fluctuations due to economic and political unrest, the fund's performance was noted as being ahead of forecasts.

The report also detailed property expenditure, with no significant costs incurred in the year ending March 2026. A survey for Ladhope Woodland accounted for £1,655 under professional services. A budget of £1,500 was proposed for each of the following three years to cover ad hoc or reactive maintenance requirements for council properties.

Regarding grants, £3,000 was approved for the year ending 31 March 2026 but remained unspent. This £3,000 annual budget for grants has been maintained for the next three years.

The committee agreed to note the actual and forecast income and expenditure for 2025/26 and the forecast for the next three financial years. They also approved the draft budget for 2026/27, noted the property expenditure summary, and acknowledged the current position of the Aegon Asset Management Investment Fund.

Estates Update

The committee received an update on estates matters, confirming that minor tree works would be carried out along the Ladhope burn. The cost for these works was £1,700 plus VAT, which was slightly higher than the previously estimated £1,500. The committee expressed their comfort with this revised figure and agreed to proceed with the works. The budget figures were subsequently updated to reflect the £1,700 cost.

The meeting was live-streamed and recorded, with the recording to be made available on the council website for 180 days. The public business concluded with the committee agreeing to move to private business.