The council currently spends £71 per young person but it is looking to bring spending down to about £52, which it claims is comparable with other authorities of a similar size.
Members of the council's cabinet are due to meet on 28 July to decide whether to give the go-ahead for a major consultation exercise with young people over plans to change the way the youth service operates.
Currently only 16 per cent of young people aged 13 to 19 on the island use the service against a national average of 28 per cent, the council claims.
The council's cabinet has also released a scathing report on the state of youth services on the island. The report states that some youth centres were not-fit-for-purpose and the majority were not accessible for young people with learning difficulties or disabilities.
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