Budget

The Velocity Interoperability Network is funded by a single annual budget. The budget covers one financial year, running from 1 January to 31 December, and is prepared by the Department from the estimates submitted by each department of the Network. It is met by the contributions of the member organisations, less the fees and charges departments expect to collect, and no department may commit expenditure beyond the line and amount the approved budget allows.

All amounts on this site are stated in credits, the unit in which contributions are assessed, payments are made and the accounts of the Network are kept.

The transitional budget for 2026. Because the departments of the Network were established on 6 September 2026, part-way through a financial year, the first budget is a transitional one. It was agreed by the founding member organisations on 10 August 2026 under the interim arrangements, and covers the period from establishment to 31 December 2026. The figures below summarise it.

14.49m

Credits in the transitional budget, 6 September to 31 December 2026

13.18m

Credits of expenditure authorised across the four spending lines

1.31m

Credits appropriated to the reserve fund as a first instalment

42

Member organisations whose contributions meet the transitional budget

The transitional budget is divided into the same five lines that every annual budget will use. The largest line is that for departments and offices, which funds the twenty-five departments established on 6 September together with the common offices of the Network. The reserve fund receives a first appropriation in this period; it will reach the required level of one tenth of annual expenditure during 2027.

The transitional budget is met by a single contribution from each member, assessed at a standard rate of 700,000 credits and weighted by band. Contributions received and outstanding are summarised on the Member Contributions page, and expenditure against each line is reported on the Spending page.

The budget for 2027. Indicative estimates for the first full financial year were received from every department on 1 September 2026 and are shown below beside the transitional budget. They are indicative only: departments may confirm or revise them until 20 September 2026, and the draft budget circulated on 1 October may differ from them. The standard rate for 2027 will be fixed when the budget is approved.

How the budget is set. The steps below are followed for every annual budget. For 2027 the dates have been adjusted to allow for establishment part-way through the year; the adjusted dates are published on the Estimates page.

1. 1

   Step 1: Estimates are submitted

   Each department of the Network submits its estimates for the coming year to the Department by 1 September, in the form set out in the guidance for departments.

2. 2

   Step 2: A draft budget is circulated

   The Department consolidates the estimates into a draft budget and circulates it to all member organisations by 1 October, together with a note of the standard rate that would follow from it.

3. 3

   Step 3: Members comment

   Members have thirty days from circulation to submit comments. The Department publishes a summary of the comments received and its response by 15 November.

4. 4

   Step 4: The budget is approved

   The final budget is laid before the members for approval by 1 December and takes effect on 1 January. Where a budget has not been approved by that date, expenditure continues at the level of the previous year until it is.

5. 5

   Step 5: Assessment notices are issued

   Within fifteen days of the start of the year, each member receives an assessment notice stating its band and the contribution due under the approved budget.

The five lines. Expenditure may be moved between lines only with the approval of the members, except that the Department may move up to five per cent of any spending line to another spending line during the year and report the movement in the next quarterly statement. Nothing may be moved out of the reserve fund without approval.

Shared services

Operation of the shared registries, directories and interoperability services of the Network, including their hosting, monitoring and support, together with the running costs of the offices, authorities, councils and services of the Network that serve every member rather than a single department.

Departments and offices

Running costs of the departments and offices of the Network: staff, premises, equipment and the services each department provides. The allocation to each department is published on the Spending page.

Standards

Certification, testing and standards maintenance, including the operation of the certification laboratories and the publication of standards.

Audit and oversight

The audit of the accounts of the Network, oversight of expenditure, and the publication of statements and accounts.

Reserve fund

Held at not less than one tenth of annual expenditure. The reserve fund is drawn on only where a contribution is unpaid or an unforeseen liability arises, and any drawing is reported to members.

The approved budget, quarterly statements of expenditure and the audited accounts for each financial year are published on this site. Audited accounts are published within four months of the close of the year to which they relate; the dates are set out on The Financial Year page. Enquiries about the budget may be sent to contact@treasury.gov.vin.