What companies does Oxford City Council own?

An audit was carried out in light of several other councils falling into financial difficulties, either through launching companies, or due to 'culture and governance failings'.

The council owns three different companies: Oxford City Housing Limited, a housebuilding enterprise specialising in council homes; ODS, which is the former direct services department of the council, including bin collections and maintenance; and ODSTL, which is used to contract these services out to other organisations.

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It is also involved in a joint venture with Nuffield College called OxWED, aiming to build homes and shops in the west end of Oxford, and owns a 50 per cent stake in the Barton Park development.

A report to the council's audit and governance committee said it the council 'group' was 'more complex than most commercial activities of similarly sized local authorities'.

Susan Sale, Oxford City Council’s head of law and governance

The report said internal auditors from a company called BDO had looked at whether these council-owned companies were working well.

This was carried out in light of Nottingham City Council making a cumulative loss of £34.4m by 2019 after setting up Robin Hood Energy.

The London Borough of Croydon, which has faced financial difficulties after overspending on social care services in particular, was also mentioned in the report, as were councils where the Government has stepped in to take control, including in Rotherham, Tower Hamlets and Northamptonshire.

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Susan Sale, the council's head of law and governance, said: "I think the overall summary of the report is to report we have a clean bill of health. We feel that we fare very well in comparison and there are no major of significant concerns to highlight to you."

The report said councillors with a good knowledge of finances helped to scrutinise the roles of the different companies the city council owns.

Chewe Munkonge, Oxford City Councillor.

Committee member Chewe Munkonge raised concern about the loss of experience when several councillors stand down after the May elections.

Nigel Kennedy, the head of finances, said training would be provided as standard to all new councillors to help them understand finances.