Personal Budgets

Managing Your Budget

Personal Budgets are a way of giving an individual more choice and control over their care and support.

The Care Act 2014 now means that all councils must offer personal budgets for people who are eligible for adult social care support.  Individuals will need to complete an assessment and if eligible, individuals can choose from a range of options for managing the money such as a direct payment or managed account.  Further details for these options can be seen below:

Direct Payment

This is where an individual receives the money directly or it is paid to someone acting on their behalf and in their best interests. The individual must have the capacity to understand their support plan and that the direct payment money is used to pay for this.

The individual will need to open a bank account after which they will receive money from the council which goes straight into that account. The individual will be responsible for paying for their agreed support from this money and keeping accurate records to show the council what the money is being spent on.

From January 2017 the direct payment will be delivered via an Isle of Wight Council Pre-paid Card. More information can be found about the Pre-paid card on the tab above.

Financial Management

Managing your direct payment funding will require you to understand your support plan and how the funding can be used.  You must adhere to the terms of the Direct Payment Agreement. You will be responsible for paying for your agreed support and keeping accurate records of the payments you have made. If you do not feel able to manage this yourself, there are services available which can manage the financial aspects of your direct payment on your behalf. For more information please click here (PDF, 1 page, 187KB) - Please note: that the providers referred to are not affiliated to the Isle of Wight Council and it is your responsibility to make checks before contacting them.

Managed Account

A social care worker manages the individual's personal budget when choosing this option. They will be responsible for organising the individual's support and setting up payment through the council's financial services.