Paisley and Renfrew Common Good Fund Budgets 2026-27
Renfrewshire Council · 5 February 2026
Back to Finance, Resources and Customer Services Policy Board — 5 February 2026 and its agenda
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PUBLIC __________________________________________________________________ To: Finance, Resources and Customer Services Policy Board On: 5 February 2026 ___________________________________________________________________ Report by: Director of Finance and Resources ___________________________________________________________________ Heading: Paisley and Renfrew Common Good Fund Budgets 2026/27 ___________________________________________________________________ 1 Summary 1.1 The level of funding available to disburse annually from the Paisley and Renfrew Common Good Funds is dependent upon the income received by the Funds during the year. For each Fund, income is derived from its respective investment portfolio and is received in the form of property rental payments, interest payments or dividends, with the latter two being particularly sensitive to financial market fluctuations. 1.2 The level of income available for 2026/27 has been estimated, along with existing annual commitments and assessments of the affordability of existing funds delegated to Local Partnerships on an annual basis. ___________________________________________________________________ 2 Recommendations 2.1 The Board is asked to: i) Approve the 2026/27 budget allocations to Local Partnerships as follows: Common Good Fund Local Partnership Budget 2026/27 Renfrew Renfrew £107,400 Paisley Paisley East £12,800 Paisley Paisley North, West and Central £11,200 Paisley Foxbar / Brediland and Glenburn £10,500
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PUBLIC ii) Approve the continued funding of project awards, as outlined in Appendix 1, and noting the changes detailed in section 5; iii) Note the future year allocations (previously agreed in 2024/25) to the Cherrie Centre as outlined in paragraph 5.2; iv) Note the non-recurring awards for the projects approved in 2025 after the 2025/26 Common Good budgets were agreed (see paragraph 3.3). v) Note the ongoing wider review of the financial arrangements related to leases and property maintenance as outlined in Section 7. ___________________________________________________________________ 3 Background 3.1 The Common Good Funds of both Paisley and Renfrew are used each financial year to fund ongoing projects and commitments made by the Finance, Resources and Customer Services Policy Board. In addition, an annual allocation is made to relevant Local Partnerships, which have delegated authority to disburse grants to local organisations from which they receive bids for funding and/or to use the funding themselves to support appropriate projects. The proposed allocations are based on the current Local Partnership arrangements. 3.2 Income received by the Common Good Funds is derived from rental income from Common Good property and, principally, from dividend income and interest payments. Subject to maintaining tenancies, rental income remains stable and predictable on a yearly basis. However, in terms of investment income from dividends and interest, it is necessary to make an informed estimate each year of the income that will be available to the Common Good Funds in the following year. 3.3 There were three Common Good funding proposals approved after the 2025/26 budget was set. For Paisley Common Good this was a £260,000 award for urgent repairs and reinstatement works at the Oakshaw Trinity Church in Paisley. For Renfrew Common Good it was £500,000 to fund works at Renfrew Victory Baths, and £153,000 to fund works at the former Renfrew Police Station. 4 Income 4.1 The Paisley Common Good rental income budget remains the same in 2026/27 although the Renfrew Common Good rental income budget has been increased by £2,000 to realign based on actual income received in recent years.
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PUBLIC 4.2 The investment income for 2026/27 is based on estimated figures provided for both the Paisley and Renfrew Common Good funds as at 30 September 2025. The markets and anticipated sustainability of investments will continue to be monitored by both officers and the Investment Review Board. 5 Expenditure 5.1 Based on CPI in January 2026, Local Partnership allocations have been uplifted by 3.0% for 2026/27. 5.2 In accordance with the approved plan in 2024/25, the Cherrie Centre’s funding allocation reduced to £50,000 in 2026/27. The reduction is added into the Renfrew Local Partnership Fund. 5.3 It is proposed that the budget for property maintenance for both Funds is increased given the experience of additional works that have been required in recent years. This will assist with a more proactive maintenance regime to be put in place as an interim position, while the review outlined in Section 7 below progresses. 5.4 It is further proposed that a number of Renfrew events are increased to enhance support; these are the Renfrew Gala, the Christmas Lights Switch-on, and the Renfrew Pipe Band Competition (see Appendix 1). 6 Net Position 6.1 Taking all these factors into account, a forecast Income and Expenditure Statement for each Common Good Fund has been prepared on a cash basis (i.e. excluding non-cash movements, such as depreciation) and is appended for Members’ consideration. These forecasts presume that prior year surpluses will be used to partially fund in-year expenditure. There is a requirement to ensure that the ongoing commitments of each Common Good Fund remain affordable and sustainable. 6.2 Should all proposals be approved, the Paisley Common Good Fund is planned to return a net surplus in 2026/27 of £19,500, and the Renfrew Common Good Fund is planned to return a net surplus in 2026/27of £509,080. 7 Property Review 7.1 As reported to Council in October 2025, following a legal opinion a small number of properties previously understood to have been General Fund assets have been advised to be classified as Common Good assets. There are a number of financial and legal implications that flow from this advice and these are being worked through currently by officers.
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PUBLIC Officers are also taking the opportunity to review the current leasing arrangements for Common Good assets, and the financial and management arrangements in place for these, in order to ensure these arrangements remain appropriate. A report on this issue will be provided to a future Board meeting. __________________________________________________________________ Implications of the Report 1. Financial – The proposed budget is based on a general principle of only spending the available income in each year, where possible. The presented 2026/27 budgets result in a net surplus of £19,500 for Paisley Common Good and a net surplus of £509,080 for Renfrew Common Good. 2. HR & Organisational Development – None arising directly from this report. 3. Community Planning: Our Renfrewshire is well – Many of the projects funded by Local Partnerships contribute to the promotion of more active pursuits for all age groups. Our Renfrewshire is thriving - The funding allocated from the Common Good Funds supports local community groups and projects. Our Renfrewshire is safe – The community projects funded by Local Partnerships, as well as recurring funding for events and community services supports communities to be safer and stronger. 4. Legal – None arising directly from this report. 5. Property/Assets – Some of the expenditure noted in the budget report will result in improvements and / or maintenance to Common Good and community-owned properties. 6. Information Technology – None arising directly from this report. 7. Equality & Human Rights – None arising directly from this report. If required following implementation, the actual impact of the recommendations and the mitigating actions will be reviewed and monitored and the results of the assessment will be published on the Council’s website. 8. Health & Safety – Some of the expenditure noted in the budget report will result in improvements and / or maintenance to Common Good and community-owned properties, which may in some cases enhance health and safety measures. 9. Procurement – None arising directly from this report. 10. Risk – There is a risk investment income will not be realised as forecast; however, this risk will be monitored through regular discussion with the Council’s investment managers and advisers.
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PUBLIC 11. Privacy Impact – None arising directly from this report. 12. COSLA Policy Position – n/a. 13. Children’s Rights – None arising directly from this report. 14. Climate Risk – None arising directly from this report. ___________________________________________________________________ Author: Alison Hunter, Principal Accountant (Treasury) alison.hunter@renfrewshire.gov.uk Background reports: Finance, Resources and Customer Services Policy Board (13 February 2025) Finance, Resources and Customer Services Policy Board (12 June 2025)
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Appendix 1 PUBLIC Paisley Common Good - Income & Expenditure Forecast Approved Proposed 2025/26 2026/27 £ £ Estimated Net Annual Income available: Income receivable from Loans Fund (11,000.00) (10,000.00) Investment Income (155,000.00) (155,000.00) Property Rental Income (49,000.00) (49,000.00) (215,000.00) (214,000.00) Less costs: Investment Management Fees 21,000.00 21,000.00 Council Administration Fee 14,000.00 14,000.00 Property Maintenance Costs 1,000.00 20,000.00 Total Available for Disbursement (179,000.00) (159,000.00) Proposed Recurring Projects: Christmas lights 55,000.00 55,000.00 Repair to War Memorial 500.00 500.00 Barshaw Gala 15,000.00 15,000.00 Sma' Shot Day (Note 1) 15,000.00 15,000.00 CCTV Operations 19,500.00 19,500.00 Total Cost of Recurring Projects 105,000.00 105,000.00 Proposed Local Partnership Allocations: Paisley East, Ralston, Hawkhead/Lochfield, Hunterhill and Charleston 12,400.00 12,800.00 Paisley North, Gallowhill, Ferguslie, Paisley West and Central 10,900.00 11,200.00 Foxbar / Brediland and Glenburn 10,200.00 10,500.00 33,500.00 34,500.00 (Surplus)/Deficit on cash basis (40,500.00) (19,500.00) Note 1 Sma' Shot Day - this award was approved as Non-recurring in previous years.
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Appendix 1 PUBLIC Renfrew Common Good - Income & Expenditure Forecast Approved Proposed 2025/26 2026/27 £ £ Estimated Net Annual Income available: Income receivable from Loans Fund (70,000.00) (70,000.00) Investment Income (589,000.00) (592,000.00) Property Rental Income (265,000.00) (267,000.00) (924,000.00) (929,000.00) Less costs: Investment Management Fees 80,000.00 82,000.00 Council Administration Fee 45,000.00 46,000.00 Property Maintenance Costs 23,000.00 50,000.00 Total Available for Disbursement (776,000.00) (751,000.00) Proposed Recurring Projects: Christmas lights: operating costs 16,700.00 16,700.00 Christmas lights: switch-on event 10,000.00 15,000.00 Renfrew Pipe Band Competition 10,000.00 20,000.00 Repair to War Memorial 300.00 300.00 Repair to Public Clocks 220.00 220.00 Bench Maintenance - Robertson Park 700.00 700.00 Cherrie Centre Support 60,000.00 50,000.00 Renfrew Gala Week 15,000.00 20,000.00 CCTV Operations 11,600.00 11,600.00 Total Cost of Recurring Projects 124,520.00 134,520.00 Proposed Non-recurring Projects: Robertson Park Play Area 50,000.00 0.00 50,000.00 0.00 Proposed Local Partnership Allocations: Renfrew 94,600.00 107,400.00 (Surplus)/Deficit on cash basis (506,880.00) (509,080.00)