Issue - meetings

Please note revised version of Report CAB3538 (Appendix D) from that considered at Cabinet on 12 February 2026.

That Cabinet recommend to Council:

1.          That the Treasury Management Strategy Statement which includes the Annual Treasury Investment Strategy for 2026/27 (and the remainder of 2025/26) is approved;

2.          That authority be delegated to the Section 151 Officer to manage the council’s pooled property investment and long-term borrowing according to the Treasury Management Strategy Statement as appropriate; and

3.          That authority be delegated to the Section 151 Officer, who in turn discharges this function to Hampshire County Council’s Director of Corporate Operations, as agreed in the Service Level Agreement, to manage all council investments (other than the high yield portfolio) and short-term borrowing according to the Treasury Management Strategy Statement as appropriate.

That Cabinet recommend to Council*:

1.          That the Treasury Management Strategy Statement which includes the Annual Treasury Investment Strategy for 2026/27 (and the remainder of 2025/26) is approved;

2.          That authority be delegated to the Section 151 Officer to manage the council’s pooled property investment and long-term borrowing according to the Treasury Management Strategy Statement as appropriate; and

3.          That authority be delegated to the Section 151 Officer, who in turn discharges this function to Hampshire County Council’s Director of Corporate Operations, as agreed in the Service Level Agreement, to manage all council investments (other than the high yield portfolio) and short-term borrowing according to the Treasury Management Strategy Statement as appropriate.

*NB recommendations to Council are not subject to call-in

Councillor Cutler introduced the report noting that it had been considered at Scrutiny Committee on 10 February, the draft minutes of which had been circulated to Cabinet and other members present.  Councillor Cutler advised that a replacement Appendix D of the report had been circulated to members present and would be included in the updated report to Council.  The amendment did not impact on the report’s recommendations.

Councillor Tod made reference to a question received from Councillor Lee who was unable to attend the meeting.

Cabinet agreed to the following for the reasons set out in the report and outlined above.

RECOMMENDED (TO COUNCIL):

1.          That the Treasury Management Strategy Statement which includes the Annual Treasury Investment Strategy for 2026/27 (and the remainder of 2025/26) is approved.

2.          That authority be delegated to the Section 151 Officer to manage the council’s pooled property investment and long-term borrowing according to the Treasury Management Strategy Statement as appropriate; and

3.          That authority be delegated to the Section 151 Officer, who in turn discharges this function to Hampshire County Council’s Director of Corporate Operations, as agreed in the Service Level Agreement, to manage all council investments (other than the high yield portfolio) and short-term borrowing according to the Treasury Management Strategy Statement as appropriate.

RECOMMENDATION:

It is recommended that scrutiny committee comment on the proposals within the attached cabinet report, ref CAB3538 which is to be considered by cabinet at its meeting on the 12 February 2026.

Councillor Neil Cutler, Deputy Leader and Cabinet Member for Finance and Transformation introduced the report, ref CAB3538 which set out proposals for the Treasury Management Strategy 2026/27. Councillor Cutler advised that there were no significant changes to the strategy for the 2026/27 year and that whilst the report included updated figures there was no change in policy proposed. Gemma Farley and Daniel O’Rourke on behalf of Hampshire County Council were also present to respond to the committees questions.

The committee was recommended to comment on the proposals within the attached cabinet report, ref CAB3538 which was to be considered by cabinet at its meeting on 12 February 2026. The committee proceeded to ask questions and debate the report. In summary, the following matters were raised.

1. A question was asked regarding the trajectory of higher borrowing shown on page 151 and whether this represented a shift in the council's appetite for risk.
2. Further clarification was sought on whether externalising borrowing increased the risk profile, particularly given the council's moderate risk appetite.

These points were responded to by Neil Aitken, Service Lead: Finance accordingly.

RESOLVED:

1.    That the report be noted.