Lower than expected incomes and higher costs have the government projecting a £16m overspend in its first quarterly figures.
Overall net expenditure is £1.7m worse than budget for the year to date before fund claims.
Net expenditure is currently forecast to be £16.4m worse than budget by year-end, after taking account of reimbursements from funds.
The Treasury says it expects the Department for Education, Sport and Culture, Department for Enterprise and Department of Infrastructure as being expected to be over budget.
The DHSC was already forecasting an overspend by June 2024 which has been primarily driven by increased costs in Manx Care, in areas such as tertiary contract activity and additional drugs costs.
Treasury Minister Dr Alex Allinson said: “The first quarter accounts show financial pressures on all departments, especially related to staff pay and inflationary increases in supplies and services.
“Treasury has instituted monthly scrutiny panels to challenge departmental forecasts while analysing costs and any projected overspends. Across Government, officers have been working on a range of efficiency measures and cost improvement programmes.
“As the Chief Minister stated at the recent successful Government Conference, it is essential that we reinforce financial discipline and adhere to the financial plan set out by this administration to provide crucial front line services whilst reducing our dependence on reserves and proving value for money to the Manx people.”
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