Adult social care and children's services costs continue to bear down on the Isle of Wight Council's finances, according to a new report.

Cabinet member for housing and finance Ian Stephens's report, due to be presented to the cabinet next Thursday, highlighted forecast cost pressures of £3.9 million for adult social care and £2.4 million relating to children's services.

Other pressure areas include £400,000 emergency housing accommodation, £400,000 in planning income and £300,000 in bereavement services income.

Cllr Stephens's Quarterly Performance and Finance Report said: 'At the end of quarter two the council is forecasting a potential pressure of £4.6m before the use of the corporate contingency.

'The key pressure areas are adults and children’s social care, housing and income relating to planning and bereavement services.

'This pressure is being partially offset by savings in treasury management, property services, and staffing vacancies across the council.

'It should also be noted that there is still a risk to this forecast position as the financial year progresses due to the impact of further demand, particularly in social care and further inflationary pressures.'

The council has forecasted £2.3 million in savings relating to treasury management and housing benefit overpayment recovery, £300,000 from properties and leases and £200,000 in miscellaneous items including staffing savings.

County Hall's general reserves currently stand at £12 million.

The corporate scrutiny committee will examine the report next Tuesday before the cabinet meet on Thursday.