Our spending plans

The council's spending plans are set each year by full council usually at a February meeting. This follows consultation with the public on budget priorities and savings plans.

In 2025/26 the Isle of Wight Council plans to spend £428.3 million on providing services for the Island.

Portfolio Expenditure

2025-26 (£000's)

2024-25 (£000's)

Adult Social Care and Public Health

117,139

108,115

Children's Services, Education and Corporate Functions

59,345

59,583

Climate Change, Biosphere and Waste

8,229

7,961

Deputy Leader, Housing and Finance

89,703

83,432

Economy, Regeneration, Culture and Leisure

8,396

9,186

Leader, Transport and Infrastructure, Highways PFI and Transport Strategy, Strategic Oversight and External Partnerships

26,702

29,354

Planning, Coastal Protection and Flooding

2,889

4,080

Regulatory Services, Community Protection and ICT

11,848

12,067

Schools Budget

104,028

100,547

Total Expenditure

428,279

414,325

Contribution (to)/from Balance and Reserves

1,757

-4,137

Business rates, grants, fees and charges

-312,579

-305,092

Estimated collection fund (surplus)/deficit b/f (Council Tax)

-1,850

-1,266

Council Tax Requirement

-115,608

-103,830

In additional to its day-to-day budget, the council also plans to invest in capital schemes which support the delivery of its overall objectives. The council has budgeted a total of £197 million over the next 5 years for projects including

  • maintenance and improvement of schools building and equipment £12 million
  • provision and adaptions of housing £49 million
  • coastal defences £40 million
  • highways and transport infrastructure £51 million
  • economy and regeneration £29 million

Further details can be found in the budget setting report taken to February 2025 full council for approval.

The council's treasury management strategy is taken to Audit and Governance Committee for approval.

The Isle of Wight Council defines its treasury management activities as “the management of the organisation’s investments and cash flows, its banking, money market and capital market transactions, the effective control of the risks associated with those activities, and the pursuit of optimum performance consistent with those risks”.

Treasury risk management at the council is conducted within the framework of the Chartered Institute of Public Finance and Accountancy’s Treasury Management in the Public Services: Code of Practice 2021 Edition (the CIPFA Code) which requires the council to approve a treasury management strategy before the start of each financial year. This strategy fulfils the council’s legal obligation under the Local Government Act 2003 to have regard to the CIPFA Code.