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The Council runs a Pension Fund for around 4,300 contributing members, 1,900 pensioners and 1,600 deferred pensioners
At 31 March 2007 the pension fund’s net assets totalled £302m, an increase of £17.6m or 6.2%
The Council administers Common Good Funds for Galashiels, Selkirk, Lauder, Hawick, Jedburgh, Kelso, Peebles and Duns
At 31 March the Common Good Funds had total capital and revenue reserves of £2.3m
The Council act as Trustees for more than 200 trust funds with total capital and revenue reserves of £1.4m
The ‘general’ reserve (that is not earmarked for specific purposes) lies within the Council’s planned range
The roads trading operation ‘SBcontracts’ made a surplus of £0.176m in 2006/07 and a cumulative surplus of £1.107m over the last three years, more than meeting the statutory target
Allowances paid to Councillors in 2006/07 totalled £0.491m a small reduction from the previous year
The Council gave financial assistance to:

External Audit costs for the year totalled £0.308m
The net income from a Council Tax of £1 at ‘Band D’ was £43,712
The Council received £18.3m more from the National Non-Domestic Rates Pool than it put in
At 31 March 2007 the Council’s Insurance Fund had a credit balance of £1.428m and the value of known claims was estimated at £1.007m
2006/07 saw a further reduction in the average rate of interest paid on outstanding debt, a reduction of 0.35% to 5.44%
The Council’s Group Accounts detail the Council’s interest in any subsidiaries (Common Good Funds and Trust Funds) and associates (Lothian & Borders Police, Lothian & Borders Fire and Rescue, Borders Sport & Leisure Trust and Jedburgh Leisure Facilities Trust)
Both the Police and Fire & Rescue Boards have very substantial pension liabilities, that in the long-term will be met by payments made by Scottish Borders Council, City of Edinburgh, West Lothian, East Lothian and Midlothian Councils.

Back to Summary of the Council’s audited accounts for 2006/07