Issue - meetings
FIRST QUARTER TREASURY MANAGEMENT REVIEW 2026/27
Meeting: 22/09/2026 - Cabinet (Item 40)
40 FIRST QUARTER TREASURY MANAGEMENT REVIEW 2026/27 
PDF 145 KB
REPORT OF THE DIRECTOR – RESOURCES
To update Cabinet on progress with delivering the Treasury Strategy for 2026/27, as at the end of June 2026.
Additional documents:
Decision:
RESOLVED: That Cabinet noted the position of Treasury Management activity as at the end of June 2026 and as set out in Appendix 1.
REASONS FOR DECISION: To ensure the Council’s continued compliance with CIPFA’s code of practice on Treasury Management and the Local Government Act 2003 and that the Council manages its exposure to interest and capital risk.
Minutes:
Audio recording – 2 hours 01 minute 05 seconds
The Chair invited Councillor Stewart Willoughby, as Chair of the Finance, Audit and Risk Committee for the meeting on 9 September 2026, to present the referral on this item. Councillor Willoughby advised that:
· The main point noted was that investment income was continuing above expectation, due to higher than expected interest rates.
· The details of the investments made were outlined at paragraph 8.5 of the report, with most being with either government or other local authorities, in accordance with the Investment Strategy.
Councillor Ian Albert, as Executive Member for Resources, presented the report entitled ‘First Quarter Treasury Management Review 2026/27’ and highlighted that:
· The higher than expected interest rates reflected the national, as well as wider international, outlook.
· However, inflation remained higher than previously forecast, which meant that the interest rates had not been reduced.
· Surplus cash has been invested in accordance with the strategy adopted by Full Council in February 2026.
· The forecast return of investment had been exceeded for this financial year.
Councillor Ian Albert proposed and Councillor Sean Nolan seconded and, following a vote, it was:
RESOLVED: That Cabinet noted the position of Treasury Management activity as at the end of June 2026 and as set out in Appendix 1.
REASONS FOR RECOMMENDATIONS: To ensure the Council’s continued compliance with CIPFA’s code of practice on Treasury Management and the Local Government Act 2003 and that the Council manages its exposure to interest and capital risk.
Meeting: 09/09/2026 - Finance, Audit and Risk Committee (Item 29)
29 FIRST QUARTER TREASURY MANAGEMENT REVIEW 2026/27 PDF 146 KB
REPORT OF THE DIRECTOR – RESOURCES
To update Cabinet on progress with delivering the Treasury Strategy for 2026/27, as at the end of June 2026.
Additional documents:
Decision:
RECOMMENDED TO CABINET: That Cabinet notes the position of Treasury Management activity as at the end of June 2026 and as set out in Appendix 1.
REASON FOR RECOMMENDATION: To ensure the Council’s continued compliance with CIPFA’s code of practice on Treasury Management and the Local Government Act 2003 and that the Council manages its exposure to interest and capital risk.
Minutes:
Audio recording – 01 hours 23 minutes 52 seconds
N.B. Councillor Paul Ward declared an interest in this item due to his employment and left the Council Chamber for the duration of the item.
The Director – Resources presented the report entitled ‘First Quarter Treasury Management Review 2026/27’ and advised that:
· More interest on investments had been generated than forecast due to higher than forecast balances and interest rates.
· All investment had taken place in accordance with the Investment Strategy, which allowed the use of call account investments with the bank that the Council used.
· Most of the treasury was split between Government (DMO) and local authority investments, with the full range detailed in the table at paragraph 8.5 of the report.
In response to a question from Councillor Ruth Brown, the Director – Resources advised that there were several DMOs listed as there was one for each individual investment and the rates for those varied depending on when they were invested and the period they were invested for.
Councillor Elizabeth Dennis proposed and Councillor Ruth Brown seconded and, following a vote, it was:
RECOMMENDED TO CABINET: That Cabinet notes the position of Treasury Management activity as at the end of June 2026 and as set out in Appendix 1.
REASON FOR RECOMMENDATION: To ensure the Council’s continued compliance with CIPFA’s code of practice on Treasury Management and the Local Government Act 2003 and that the Council manages its exposure to interest and capital risk.
N.B. Following the conclusion of the item, Councillor Paul Ward returned to the Chamber at 20:59.