Issue - meetings

Cabinet Member: Finance, Property and Transformation

Forward Plan Ref: 2025/192

Contact: Tim Chapple, Treasury Manager

Tim.chapple@oxfordshire.gov.uk

Report by Director of Transformation, Digital and Customer Experience (CAB).

Cabinet is RECOMMENDED to note the council’s treasury management activity at the end of the first quarter 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 a report which set out the position at the end of the first quarter of 2025-6.

Councillor Dan Levy, Cabinet Member for Finance, Property and Transformation, presented the report.  He highlighted that the council operated within debt indicators and had reduced Public Works Loan Board debt. Investments yielded returns above budget due to higher cash balances and interest rates. The report also highlighted the ongoing challenge of the negative High Needs Block Direct Schools Grant (DSG) balance, expected to reach £137 million, and the need for government intervention.

Councillor Levy moved and Councillor Leffman seconded the recommendation, and it was approved.

RESOLVED to note the council’s treasury management activity at the end of the first quarter of 2025/26.