Issue - meetings

Cabinet Member: Finance, Property and Transformation

Forward Plan Ref: 2025/034

Contact: Tim Chapple, Treasury Manager

Tim.chapple@oxfordshire.gov.uk

Report by Executive Director of Resources and Section 151 Officer (CA15)

Cabinet is RECOMMENDED to note the council’s treasury management activity for the first half of 2025/26 and recommend Council to note council’s treasury management activity in the first half of 2025/26.

Recommendations approved.

The Chartered Institute of Public Finance and Accountancy’s (CIPFA’s) ‘Code of Practice on Treasury Management 2021’ requires that committee to which some treasury management responsibilities are delegated, will receive regular monitoring reports on treasury management activities and risks. Cabinet received the second report for the 2025/26 financial year which set out the position at 30 September 2025.

Councillor Dan Levy, Cabinet Member for Finance, Property and Transformation, presented the report.

Cabinet noted that the Council has received above budgeted investment returns due to higher cash balances and interest rates, had maintained a cautious approach to new debt, and continued to prioritise security and liquidity. The negative Dedicated Schools Grant (DSG) balance was forecast to reach £153 million, resulting in a £6 million cost in lost interest, with the Council awaiting government action to address the deficit.

Councillor Levy moved and Councillor Higgins seconded the recommendations, and they were approved.

RESOLVED to note the council’s treasury management activity for the first half of 2025/26 and recommend Council to note council’s treasury management activity in the first half of 2025/26.