Oxford City Council says in its Treasury Management Strategy for 2019/20 that it expects its prudential borrowing will rise from a projected £247.4m at the end of 2018/19 to £343.8m in 2023/24.
The council will use internal resources as much as possible, but anticipates external borrowing will rise from £198.5m to £229.5m over the same period.
Contributing to the increase are the £47.9m worth of loans to the council’s housing company, partly to finance the purchase of new-build homes at Barton.
