Agenda and minutes

Apologies were received from Councillor Alistair MacDougall.

There were no declarations of interest intimated.

Report by Head of Strategic Finance

The Trustees considered and discussed a report by Bruce West, Head of Strategic Finance relating to the investment management arrangements for the common good fund and a draft investment policy.

Discussion also took place around some suggestions relating to a review of the role of the Common Good Fund and the possibility that changes may be made to the criteria by which the disbursement of common good funds was undertaken and the rules by which the fund Trustees were governed, in particular there was a suggestion from Councillor Hall about whether it would be possible and legal for the Common Good Fund eg, to become a lender, like a credit union or similar.

Decision

The Trustees agreed the recommendations in the report and requested a further report which considers whether it would be possible to change the role of the Common Good Fund as suggested by Councillor Fred Hall.

(Ref:  Investment Activity Report by Head of Strategic Finance dated 6^th December 2013, submitted).

The Trustees considered an application for a grant from Oban Hospice.

Decision

The Trustees agreed to award the sum of £1515.00.

The Trustees considered an application for a grant from Oban FM.

The Trustees noted that the total cost of the system was £4800.00 and that they had applied for an award of £6000.00 from McQueen’s Charitable Trust.

Decision

The Trustees agreed to award them an amount of up to £1000.00 which was dependant on whether any monies were still required after a decision had been taken in regard to their application to McQueen’s Charitable Trust.

Paragraph 6  Information relating to the financial or business affairs of any particular person (other than the authority).