The council’s assets include loans to companies and registered social landlords, shareholdings and company interests, property and regeneration assets.
These include a share of Redwood Bank, part of collapsed-energy firm Together Energy, solar farms in Cirencester, Hill and York, and housing companies.
It also provides loans to housing associations and another loan to The Hut Group and the report said the council will “need to manage this loan well”.
The council also has a property investment portfolio which includes Birchwood Park and other sites such as supermarkets, offices and industrial buildings.
The report said the council had “significantly grown and diversified” its investments since 2016/17.
It said that “justified by the then-constituency with the commercial and entrepreneurial thrust of government policy, these investments have generated income, which has contributed to council revenue budgets”.
But it said the economic environment has changed since 2016.
The report’s authors said the investment portfolio suggested “a number of potential risks” and that because of the size, mix and complexity of the portfolio, managing it would be a “exacting challenge to any local authority finance team and leadership”.
