The Audit & Governance Committee of Oxfordshire County Council is scheduled to meet on Wednesday 16 September 2026 to review the council's financial performance and governance arrangements. Key discussions are expected to include the Treasury Management performance for the first quarter of the financial year, updates on internal audits, and the council's commercial strategy.

Treasury Management Quarter 1 Performance Report 2026/2027

The committee is scheduled to receive a report on the council's treasury management activities for the first quarter of the 2026/27 financial year, covering the period up to 30 June 2026. This report, prepared by the Deputy Chief Executive (Section 151 Officer), will detail the council's borrowing, investments, and cash flow management, adhering to the Chartered Institute of Public Finance and Accountancy's (CIPFA) Code of Practice on Treasury Management. The report is expected to outline the council's outstanding debt, interest rates, and investment performance, comparing them against the budget agreed in February 2026. The committee is recommended to note the council's treasury management activity at the end of the first quarter.

Progression of Statement of Accounts 2025/2026

A verbal update is scheduled to be provided by the Chief Accountant regarding the progression of the council's Statement of Accounts for the 2025/26 financial year. The Audit and Governance Committee is recommended to note this update.

Internal Audit 2026/27 Progress Report

The committee will receive an update on the progress of the Internal Audit Service for 2026/27, as detailed in a report by the Deputy Chief Executive (Section 151 Officer). This report will cover the service's resources, completed audits, and planned future audits. It will include executive summaries from internal audit reports finalised since the previous committee meeting. Notably, no red reports have been issued since the last update. The committee is recommended to note the progress of the Internal Audit Plan and the outcomes of completed audits.

Ernst and Young Update

A report from the external auditor, Ernst & Young LLP, is scheduled for discussion. The committee is recommended to note this report, titled 'Rebuilding audit assurance: the path to an unqualified opinion. Year ended 31 March 2026'. This report likely details the progress made by the council in addressing previous audit findings and working towards an unqualified audit opinion.

Update on the Implementation of the Council's Commercial Strategy

The Director of Financial and Commercial Services will present an update on the implementation of the council's Commercial Strategy. This report aims to outline how the council ensures value for money is achieved through its third-party contracts, in response to a request from the committee. The committee is recommended to note the actions taken by officers to achieve value for money in these contracts. The report references the Procurement Act 2023¹ and the council's Ethical Procurement Policy and Social Value Policy².

Monitoring Officer Annual Report 2025-26

The Director of Law & Governance and Monitoring Officer will present their Annual Report for the municipal year 2025-26. This report provides an overview of democratic and ethical governance activities, aligning with the Audit and Governance Committee's responsibility for ensuring high standards of conduct among councillors and co-opted members. The report details the council's Members' Code of Conduct³, the handling of complaints, declarations of interest, and the number and outcome of applications for dispensations. It also summarises complaints received, compliments, information requests, and the council's records management. The committee is recommended to consider and endorse this report.

RIPA Policy

A report by the Director of Law & Governance and Monitoring Officer will address the council's policy for compliance with the Regulation of Investigatory Powers Act 2000 (RIPA)⁴. This report will provide a summary of covert activities undertaken by the council between April 2025 and March 2026. The committee is recommended to note the policy and comment on any proposed changes, and to consider and note the use of activities within the scope of RIPA by the council. The report highlights that the council's Trading Standards Service primarily uses covert surveillance for investigations into suspected contraventions of consumer protection legislation, including test purchasing operations.

Appointments to Category B Outside Bodies

The Director of Law & Governance and Monitoring Officer will present a report concerning appointments to Category B outside bodies. These are bodies not deemed strategic by the Cabinet and Council, for which the Audit and Governance Committee is responsible for making appointments. The committee is recommended to agree the proposed appointments for 2026/27, as listed in Annex 1 of the report, which are based on selecting the best person for the role rather than political proportionality.

Audit Working Group Update

The committee will receive an update from the Audit Working Group, reporting on the implementation of management actions arising from audits of Bridge Management and Highways Contract Management, both undertaken in 2025/26. The report notes that the Bridge Management audit received an overall Red Assurance opinion, indicating significant weaknesses, while the Highways Contract Management audit received an Amber opinion. The committee is recommended to note this report.

Audit & Governance Committee Work Programme

Finally, the committee will review its Work Programme for 2026-27, with specific dates and topics for future meetings outlined.