Financial Management

Financial Planning

The purpose of the council's financial planning framework is to ensure that the overall vision,objectives and outcomes sought for the local community are deliverable within the resources that are available. There are a number of documents that make up this framework, they can be accessed on this web page.

The Medium Term Financial Strategy is outlined in the papers taken to February Full Council . It brings together the overall revenue and capital budget strategies setting out how the council will resource the key projects, changes and investments for the medium term. It also addresses the redirection of resources over time to balance the budget gap.

Latest Fees and Charges Register (PDF, 1.13Mb, 20 pages) - the council raises around 10% of its budget through income generation which includes fees and charges for services including planning and building control, leisure facilities, cemeteries and crematorium and many others. This register records the rate of fees and charges for the councils services over a period of years.

The Treasury Management Strategy (PDF, 787.37KB, 33 pages) - sets out the councils annual plans with regard to borrowing and repayment of external debt, and sets prudential indicators for the next three years to ensure that the councils investment plans are affordable, prudent and sustainable.

COVID-19 Care home support plan

There are 73 care homes on the IoW and 36% have experienced COVID-19. As of the 18 May 2020, 18 care home residents have tragically died where it is known that they were COVID-19 positive. Each of these 18 people were beloved by their families and friends and our commitment to their legacy is that we work as system with our care providers to prevent further infection, minimise any spread between residents and staff, support the brilliant care home workforce.

The documents listed below detail our response for each of the Government’s care home support plan priorities and comprise our Care Home Support Plan: