The Audit and Governance Committee of Oxfordshire County Council met on Wednesday 16 September 2026 to review the council's treasury management performance, internal audit progress, and external auditor's report. The committee also considered updates on the implementation of the council's commercial strategy, the monitoring officer's annual report, and the policy for compliance with the Regulation of Investigatory Powers Act 2000.

Treasury Management Quarter 1 Performance Report 2026/2027

The committee was scheduled to receive a report on the council's treasury management activities for the first quarter of the 2026/27 financial year, detailing the position as at 30 June 2026. Treasury management encompasses the management of borrowing, investments, and cash flows, with a focus on controlling risks and optimising performance. The report was expected to outline the council's outstanding debt, interest rates paid, and investment performance, comparing actual figures against the budget. The Chartered Institute of Public Finance and Accountancy's (CIPFA) Code of Practice on Treasury Management requires regular monitoring reports to be provided to the committee. The recommendation was for the committee to note the council's treasury management activity.

Progression of Statement of Accounts 2025/2026

A verbal update was 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 committee was recommended to note this update.

Internal Audit 2026/2027 Progress Report

This report was intended to provide an update on the Internal Audit Service, including its resources, completed audits, and planned activities for 2026/27. It was expected to include executive summaries from internal audit reports finalised since the previous meeting. The recommendation was for the committee to note the progress of the Internal Audit Plan and the outcomes of completed audits.

Ernst and Young Update

The committee was scheduled to receive a report from the external auditor, Ernst & Young LLP, titled 'Rebuilding audit assurance: the path to an unqualified opinion. Year ended 31 March 2026'. The recommendation was for the committee to note this report.

Update on the Implementation of the Council's Commercial Strategy

This paper was prepared in response to a committee request to outline how the council ensures value for money is achieved through third-party contracts. It was expected to detail the council's approach to value creation, protection, and assurance in its commercial activities, referencing legislation such as the Procurement Act 2023. The recommendation was for the committee to note the actions taken by officers to ensure value for money.

Monitoring Officer Annual Report 2025/2026

This report was to provide a comprehensive overview of democratic and ethical governance activities during the municipal year 2025-26. It was aligned with the Audit and Governance Committee's responsibilities for promoting high standards of conduct among councillors and co-opted members. The recommendation was for the committee to consider and endorse the Monitoring Officer's Annual Report.

RIPA Policy

The committee was scheduled to review the council's Policy for Compliance with the Regulation of Investigatory Powers Act 2000 (RIPA). This policy provides the legal framework for lawful covert surveillance by public bodies. The report was to summarise covert activities undertaken by the council between April 2025 and March 2026. The committee was 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.

Appointments to Category B Outside Bodies

This report asked the committee to consider member appointments to various external bodies that support the council's responsibilities but are not deemed strategic by the Cabinet or Council. These are referred to as 'Category B' outside bodies. The recommendation was for the committee to agree the appointments to these bodies until July 2027, based on nominations from political group leaders.

Audit Working Group Update

The Audit Working Group met on 2 September 2026 and received an update on the implementation of management actions arising from the audits of Bridge Management and Highways Contract Management, both undertaken in 2025/26. The recommendation was for the committee to note this report.

Audit & Governance Committee Work Programme 2026-2027

The committee was scheduled to review its Work Programme for the upcoming year, outlining the topics planned for discussion at future meetings.