Latest News Headlines
On-Air Now
Listen Live

Three government departments need more money

Wed, 16 May 2012

Three Government departments will need extra money from the Treasury to cover their costs over the last year.

The draft of the Government accounts for the financial year which ended in March shows the Department of Social Care will need an additional £400,000, on top of an extra £500,000 which was approved in July last year.

The Department of Home Affairs will also need to ask for an extra £400,000, whilst the Department of Community, Culture and Leisure needs a further £600,000 to cover increased costs.

Total income for Treasury last year was £553m, compared to expenditure of £530m, giving a surplus of £23m.

A higher than forecast surplus means £15m has been transferred to the Island's reserves.

The accounts will be formally laid before Tynwald later this year following an audit.


Bookmark and Share