Never look a gift horse in the mouth is one of the English language’s best-known proverbs.
And it would seem, at first glance, particularly applicable in the case of Galashiels Common Good Fund.
As we report on page 4, the fund – one of the smallest of its kind in the region – is in line for a massive boost.
Later this month, Scottish Borders Council will be asked to approve the transfer of assets – among them Bank Street Gardens and Old Gala House – with a book value of £325,000 to the fund which had a cash balance of £25,000 and no fixed assets just under a year ago. In addition, historic landmarks with no book value – including the Mercat Cross – are also due to be handed over.
A report to Galashiels Common Good Fund sub-committee – made up of the town’s four SBC members – points to “significant and continuing pressure from residents and others” as a reason to review the titles of all properties held in the region’s eight former burghs. It also states: “All income from
So it would appear that as well as income implications, there are cost ones too.
Let’s hope the asset transfer doesn’t end up reminding us of another old adage: If it sounds too good to be true, it probably is.