Basingstoke & Dean Borough Council
Councillors:
54
Wards:
18
Committees:
23
Meetings (2026):
68
Meetings (2025):
75
Meeting
Audit and Accounts Committee - Basingstoke & Dean
Meeting Times
Scheduled Time
Start:
Monday, 26th January 2026
6:30 PM
Monday, 26th January 2026
6:30 PM
End:
Monday, 26th January 2026
9:30 PM
Monday, 26th January 2026
9:30 PM
Meeting Status
Status:
Confirmed
Confirmed
Date:
26 Jan 2026
26 Jan 2026
Location:
Committee Rooms 1 & 2 - Deanes
Committee Rooms 1 & 2 - Deanes
Webcast:
Available
Available
Meeting Attendees
Committee Member
Vice-Chair of the Audit and Accounts Committee
Committee Member
Chair of the Resources Committee
Reserve
Vice-Chair of the Resident Services Committee
Committee Member
Richard Harbord (Co Opted Member of the Audit and Accounts Committee)
Present, as expected
Committee Member
Chair of the Investigating and Disciplinary and Standards Appeals Committee and Vice Chair of the Environment and Infrastructure Committee
Reserve
Chair of the Human Resources Committee
Vice-Chair
Leader of the Conservative Group
Chair
Chair of the Audit and Accounts Committee
Councillor Paul Basham
Present, as expected
Committee Member
Councillor Samir Kotecha
Present, as expected
Agenda
1
Apologies for absence and substitutions
Minutes
Apologies were received from Cllr S Tom.
2
Declarations of interest
Minutes
Cllr Tustain declared that she was a trustee of a community centre, in relation to the Strategic Asset Management Plan (SAMP) 2026/27-2028/29 report.
3
Urgent matters
To consider any items of business, other than those shown on this agenda and which, by reason of special circumstances to be stated at the meeting, in the opinion of the Chairman, should be considered at the meeting as a matter of urgency.
Minutes
There were no urgent matters.
4
Minutes of the meeting held on 24 November 2025
The Chair will move that the minutes of the meeting be signed as a correct record. The only part of the minutes that can be discussed is their accuracy.
Attachments:
- Document Minutes of the meeting held on 24 November 2025 15 Jan 2026
Minutes
The minutes of the meeting held on 24 November 2025 were approved by the Committee as an accurate record and signed by the Chair.
The Chair provided the Committee with an update with reference to items 29/24- EY Audit Results Report 2024/25 and 30/24- Statement of Accounts- year ended 31 March 2025, from the meeting held on 24 November 2025.
It was stated that as of the meeting held on 26 January 2026, the council’s external auditors were still determining the type of audit opinion to be issued. Furthermore, the process had been delayed, and the accounts had not been signed at the time of the meeting. The Committee agreed to extend delegation of authority to the Chief Finance Officer (Section 151 Officer) and the Chair of the Audit and Accounts Committee to sign the Statement of Accounts to the next meeting.The Chief Finance Officer (S151 Officer) confirmed that there had been one adjustment to the accounts which equated to £100,000.
The Chair provided the Committee with an update with reference to items 29/24- EY Audit Results Report 2024/25 and 30/24- Statement of Accounts- year ended 31 March 2025, from the meeting held on 24 November 2025.
It was stated that as of the meeting held on 26 January 2026, the council’s external auditors were still determining the type of audit opinion to be issued. Furthermore, the process had been delayed, and the accounts had not been signed at the time of the meeting. The Committee agreed to extend delegation of authority to the Chief Finance Officer (Section 151 Officer) and the Chair of the Audit and Accounts Committee to sign the Statement of Accounts to the next meeting.The Chief Finance Officer (S151 Officer) confirmed that there had been one adjustment to the accounts which equated to £100,000.
5
Draft Treasury Management Strategy for 2026/27
Contact Officer: Adam Swain
The purpose of this report is to present the Chief Finance Officer’s (Section 151 Officer) draft Treasury Management Strategy 2026/27 report that will be considered by Council on 26 February 2026 and to inform the committee of the proposed strategy.
The purpose of this report is to present the Chief Finance Officer’s (Section 151 Officer) draft Treasury Management Strategy 2026/27 report that will be considered by Council on 26 February 2026 and to inform the committee of the proposed strategy.
Attachments:
- Document Report 15 Jan 2026
- Document Appendix 1 15 Jan 2026
Minutes
The Chief Finance Officer (Section 151 Officer) introduced the report, which presented the Committee with the draft Treasury Management Strategy for 2026/27 that would be considered by the Council on 26 February 2027 and to inform the committee of the proposed strategy.
The Committee discussed the report and made the following comments:
The proposed increase to the local authority loan limit from £40m to £50m was queried, along with the potential impact of local government reorganisation on debts. The Chief Finance Officer (S151) stated that the Council had a thorough process of checks in place before investment decisions were made. Questioned the reduction in the Council’s net investment requirement to fund capital programme expenditure to 2030, and what was planned for the requirement beyond 2030. The Chief Finance Officer (S151) confirmed that this reflected significant capital investment in the Leisure Park, with the impact reflected in the Medium-Term Financial Strategy (MTFS) and Capital Programme Update. The Cabinet Member for Finance and Property stated that significant income from the Manydown project was expected after 2030. A suggestion was made that selling commercial property and similar assets could have been utilised instead of using cash reserves to fund the capital programme. The proportion between treasury management investments and the property portfolio was questioned. The Chief Finance Officer confirmed that property made up a larger proportion of the council’s investments, but that the return from investment property was also greater. In response to a question, it was confirmed that the Council had around £100m invested in cash investments over the last 10 years. Commented that the MTFS, the four-year Capital Programme and other financial strategies helped plan to mitigate issues and support planning for potential local government reorganisation. The committee highlighted concerns about raising the local authority loan limit to £50m due to the financial position of some in the sector, changes in local government, reputational risk, and concerns about repayment. The S151 officer stated again that appropriate due diligence was carried out before making any investment decisions, and the S151 was mindful of potential reputational risks in relation to local authority loans. Discussed whether the counterparty limit for local authority loans should be reduced from £10m to £5m. The Committee confirmed it was satisfied with the proposed increase of the local authority loan limit from £40m to £50m within the policy. It was agreed that the Chair would write to Cabinet and the Section 151 Officer to request consideration of the Council’s liquid reserves beyond 2030 and clarification of the plans in this area.
Resolved: The Committee considers the draft Treasury Management Strategy for 2026/27 and provides its comments on the report.
The Committee discussed the report and made the following comments:
The proposed increase to the local authority loan limit from £40m to £50m was queried, along with the potential impact of local government reorganisation on debts. The Chief Finance Officer (S151) stated that the Council had a thorough process of checks in place before investment decisions were made. Questioned the reduction in the Council’s net investment requirement to fund capital programme expenditure to 2030, and what was planned for the requirement beyond 2030. The Chief Finance Officer (S151) confirmed that this reflected significant capital investment in the Leisure Park, with the impact reflected in the Medium-Term Financial Strategy (MTFS) and Capital Programme Update. The Cabinet Member for Finance and Property stated that significant income from the Manydown project was expected after 2030. A suggestion was made that selling commercial property and similar assets could have been utilised instead of using cash reserves to fund the capital programme. The proportion between treasury management investments and the property portfolio was questioned. The Chief Finance Officer confirmed that property made up a larger proportion of the council’s investments, but that the return from investment property was also greater. In response to a question, it was confirmed that the Council had around £100m invested in cash investments over the last 10 years. Commented that the MTFS, the four-year Capital Programme and other financial strategies helped plan to mitigate issues and support planning for potential local government reorganisation. The committee highlighted concerns about raising the local authority loan limit to £50m due to the financial position of some in the sector, changes in local government, reputational risk, and concerns about repayment. The S151 officer stated again that appropriate due diligence was carried out before making any investment decisions, and the S151 was mindful of potential reputational risks in relation to local authority loans. Discussed whether the counterparty limit for local authority loans should be reduced from £10m to £5m. The Committee confirmed it was satisfied with the proposed increase of the local authority loan limit from £40m to £50m within the policy. It was agreed that the Chair would write to Cabinet and the Section 151 Officer to request consideration of the Council’s liquid reserves beyond 2030 and clarification of the plans in this area.
Resolved: The Committee considers the draft Treasury Management Strategy for 2026/27 and provides its comments on the report.
6
Capital Investment Strategy for 2026/27
Contact Officer: Adam Swain
This report sets out the Capital Investment Strategy for 2026/27 and the Investment Strategy (Non-Treasury) for 2026/27.
This report sets out the Capital Investment Strategy for 2026/27 and the Investment Strategy (Non-Treasury) for 2026/27.
Attachments:
- Document Report 15 Jan 2026
Minutes
The Chief Finance Officer introduced the report, which set out the draft Capital Investment Strategy for 2026/27 and the Investment Strategy (Non-Treasury) for 2026/27 which would be presented at Council on 26 February 2026 and to inform the Committee of the proposed strategy.
The Committee discussed the report and made the following comments:
Questioned whether the approximate estimated total of the redevelopment of the Leisure Park would remain at £60m, the level of revenue expected and how the value of the building would be assessed once the redevelopment had concluded. The Chief Finance Officer stated that the redevelopment was expected to remain within the estimated £60m cost alongside an expected positive return. Stated that the value of the new leisure facility would not be known until it had been assessed by the Council’s property valuers. Raised awareness of planned expenditure of approximately £11.6m on operational buildings alongside a forecast of £7.1m for sales of property.
Resolved: The Committee considers the Capital Investment Strategy for 2026/27 and provides its comments on the report.
The Committee discussed the report and made the following comments:
Questioned whether the approximate estimated total of the redevelopment of the Leisure Park would remain at £60m, the level of revenue expected and how the value of the building would be assessed once the redevelopment had concluded. The Chief Finance Officer stated that the redevelopment was expected to remain within the estimated £60m cost alongside an expected positive return. Stated that the value of the new leisure facility would not be known until it had been assessed by the Council’s property valuers. Raised awareness of planned expenditure of approximately £11.6m on operational buildings alongside a forecast of £7.1m for sales of property.
Resolved: The Committee considers the Capital Investment Strategy for 2026/27 and provides its comments on the report.
7
Strategic Asset Management Plan (SAMP) 2026/27-2028/29
Contact Officer: Liz Suatt
The purpose of this report is to give an overview of the council’s property assets and update on progress since the Property Investment Strategy (as part of the Council’s Capital Investment Strategy) since it was last approved.
The purpose of this report is to give an overview of the council’s property assets and update on progress since the Property Investment Strategy (as part of the Council’s Capital Investment Strategy) since it was last approved.
Attachments:
- Document Report 15 Jan 2026
- Document Appendix 1 15 Jan 2026
- Document Appendix 2 15 Jan 2026
- Document Appendix 3 15 Jan 2026
- Document Appendix 4 15 Jan 2026
Minutes
The Head of Property and Assets and Cabinet Member for Finance and Property introduced the report, which gave an overview of the council’s property assets and gave an update on the Property Investment Strategy (as part of the Council’s Capital Investment Strategy) since it was last approved. The Strategic Asset Management Plan (SAMP) 2026/27-2028/29) included the Property Investment Strategy, Operational Property Strategy alongside the Annual Property Plan and Action Plan.
The Committee discussed the report and made the following comments:
It was clarified that the Committee had not considered the JLL Property Investment Review as stated in the report. The Cabinet Member for Finance and Property stated that if approved, the plan would conclude in 2029, which would overlap with planned local government reorganisation proposals in 2028. Highlighted a typographical error within the Property Investment Strategy where reference was made to ‘2012-2026’ instead of ‘2021-2026’. Congratulated the Cabinet Member and the Council’s Property Team for the performance of the council’s property portfolio. It was clarified that the Strategic Asset Management Plan would be approved by Council, whereas the Annual Property Plan and Action Plan would be approved by Cabinet.
Resolved: The Committee:
Note the contents of the Strategic Asset Management Plan 2028/29 and appendices 1-4 including the Property Investment Strategy. Note the contents of the Property Investment Strategy. Recommends Cabinet approve the Annual Property Plan 2026/27.
The Committee discussed the report and made the following comments:
It was clarified that the Committee had not considered the JLL Property Investment Review as stated in the report. The Cabinet Member for Finance and Property stated that if approved, the plan would conclude in 2029, which would overlap with planned local government reorganisation proposals in 2028. Highlighted a typographical error within the Property Investment Strategy where reference was made to ‘2012-2026’ instead of ‘2021-2026’. Congratulated the Cabinet Member and the Council’s Property Team for the performance of the council’s property portfolio. It was clarified that the Strategic Asset Management Plan would be approved by Council, whereas the Annual Property Plan and Action Plan would be approved by Cabinet.
Resolved: The Committee:
Note the contents of the Strategic Asset Management Plan 2028/29 and appendices 1-4 including the Property Investment Strategy. Note the contents of the Property Investment Strategy. Recommends Cabinet approve the Annual Property Plan 2026/27.
8
Audit and Accounts work programme
The Committee is asked to note and review it’s work programme.
Attachments:
- Document Audit and Accounts Work Programme 15 Jan 2026
- Document Action Tracking Log 15 Jan 2026
Minutes
The Chair introduced the work programme and gave a brief overview of the items that would be included on the agenda for the upcoming meeting on 30 March 2026.
The Chair also introduced the list of actions from previous Committee meetings.
The Chair also introduced the list of actions from previous Committee meetings.
Previous Meetings
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