Government is opening up its financial information to the public via a new website designed to increase the transparency of its accounts.
The Treasury online facility at http://financereports.gov.im provides information that is more up to date and more detailed than has previously been available in traditional paper formats.
Treasury publishes three main financial reports each year, the Isle of Man Budget, the unaudited Detailed Government Accounts and the audited, statutory Annual Accounts.
The new website is updated throughout the year and includes two reports:
- Summary Budget Report – providing financial results in the same format as the Budget, enabling simple comparison of performance to the estimates set out in the annual Budget.
- Detailed Revenue Report – providing income and expenditure analysed both by department and by income or expense category. Further analysis can be obtained by clicking on the chosen item and drilling down to the next level of detail.
Treasury Minister Eddie Teare MHK explained:
‘The new website has been developed in line with Government’s commitment to openness and accountability. It provides the public with financial information that is timelier and more detailed than has been previously available, and in an accessible format.
‘This is a significant step forward in enhancing the transparency of Government’s finances and the public’s understanding of how their money is being spent.’