Spending and finance
Financial information
The Local Government Transparency Code 2014 (updated 2015) requires local authorities to publish details of all transactions of £500 or more paid within the calendar month indicated. It must include all payments to suppliers for goods or services (excluding schools) regardless of the source of funding. This means not all expenditure represents a direct cost to the council tax payer. Some is funded from the rents paid by council tenants or from specific grants and contributions.
These reports show all Isle of Wight Council financial transactions (including those under £500) and does not reflect any subsequent correction. However, if we make payments to individuals, we redact the names to comply with the Data Protection Act.
The data in the reports has been extracted from the Isle of Wight Council’s financial accounting system. It also includes payments made via CHAPS (the electronic, bank to bank, payment system that guarantees same business day payment) and Government Procurement Cards.
You are free to use or re-use this published data under the same terms as the Open Government Licence.
The table below provides downloadable Financial information for all invoices with data. It is uploaded monthly. The financial information available is for the current and last two financial years. For earlier periods the information is available from the document library by searching for 'transparency'.
Annual Budgets and Statement of Accounts
The council publishes financial information. View the information on annual budgets and statement of accounts.
Sources of income
The money the council uses to provide services comes from a number of sources including:
- formula grant from the government
- council tax and council tax freeze grant
- core grants for specific services and projects
- dedicated schools grants
- income from charging and contributions for certain services
Financial Performance
View the quarterly performance reports presented to cabinet. These reports bring together information about finance, risk, and achievement of corporate priorities.
Councillors Allowances
The Member’ Allowances Scheme has been established under the Local Authorities (Members’ Allowances) (England) Regulations 2003 (and any amendments to those regulations). It can be viewed in the Councils Constitution.
The level of allowances is set each year by an Independent Remuneration Panel. View the reports of the Panel.
Budget Consultation
The council consults each year on budget setting. This is so the public can have input into how the council plans what services it is able to deliver in the future. Consultations will be published on the website when open.