Five government departments are already running more than £16 million over budget this year.
The latest government accounts for the three months to June show a number of overspends, including £6.1 million at the Department for Enterprise, £4.8 million at the Department for Health and Social Care, and £2.3 million at the Department of Infrastructure.
The Department of Environment, Food and Agriculture is £2.1 million over its planned budget, while the Treasury says it's overspent by £1.3 million.
In the report, it says money raised through income tax is £10.2 million ahead of budget so far this year.
Illegal immigrant turned back at Manx border can't stay in UK
Bank scammers warning as calls target Island residents
Island to extend UK VAT cut on power, says Treasury Minister
Woman thanks mystery van driver after daring sea rescue
Stay off damaged slipway in Laxey, says local authority
MHK sues attorney general and returning officer over election votes
Islanders reminded to keep challenging domestic abuse beyond October