THE Isle of Wight Council spent £344.9 million on its services and generated income of £206.3m last year.
The remaining £138m needed by the council to run its services was made up from council tax, business rates and the government’s revenue support grant.
According to a report by finance bosses at the authority, spending increased by 14.1 per cent compared to 2007/8, with net debt for the year standing at £20.87m compared with £19.38m for 2007/8.
The highest spending departments in the council were children’s and education services, which accounted for £138m of the council’s budget, members of the Isle of Wight Council’s audit committee was told.
Council tax raised £67m last year, while income generation such as car parking and other council services, such as planning, raised just over £206m.
Fixed assets owned by the council include 69 schools, 792km of highways and bridges, 209 parks and amenity sites and 81 toilet blocks.
Short-term debtors owed the council £18.9m in either cash or goods and services while the council owed its creditors £22.3m.
There is also a provision for bad debts of £2.2m.
Reporter: davidn@iwcpmail.co.uk