What guidance has been issued to local government as to its duties anent the stewardship of common good funds.

A letter to all directors of finance of Scotland’s local authorities was issued by Scottish Government officials on 12 March 2007, reminding them of their statutory, and non-statutory duties and existing supporting guidance. This included the supporting guidance to the Local Government (Scotland) Act, 1973, and the statutory guidance on best value, which applies to local authorities’ stewardship of all assets and funds, including those held under the common good.
The Local Authorities (Scotland) Accounts Advisory Committee has recently issued revised guidance to all local authorities on the financial reporting and registration of common goods assets, Accounting for the Common Good: A guidance note for practitioners, December 2007.