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Toowoomba Regional Council Sets Record with $748 Million Budget for 2023/24

Toowoomba Regional Council Sets Record with $748 Million Budget for 2023/24
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Amendments Drive Growth and Resilience in the Region

Toowoomba Regional Council (TRC) has marked a significant milestone with the approval of a record-breaking budget for the upcoming financial year, surging from an initial $651 million to an unprecedented $748 million.

These amendments, sanctioned during the recent Ordinary Meeting on November 21, reflect the council’s proactive approach to adapting to evolving demands and priorities within the region.

A Surge in Scope

Mayor Geoff McDonald highlighted the necessity for adjustments, primarily propelled by pivotal projects like the Cressbrook Dam Safety Upgrade and imperative flood recovery initiatives.

These two colossal undertakings significantly influenced the budget increase, demanding substantial funding allocations to ensure their successful execution.

Meeting Future Demands

The augmentation of the budget encompasses not only critical projects but also vital initiatives such as an Environmental Management Plan, Strategic Fire Trails grant funding, and the Get Ready Queensland grant funding.

Furthermore, the infusion of additional resources into the Mt. Kynoch Water Treatment Plant upgrade aims to bolster water capacity, catering to the burgeoning needs of the region’s growth.

Navigating Challenges

Acknowledging the current landscape of escalating costs in materials, services, and supplies, Mayor McDonald underlined the significance of revising the surplus projection, foreseeing a figure closer to $455,839 from the earlier estimated $1,112,673.

The mayor also emphasised the ongoing fluctuation of this projection, a reflection of the dynamic and challenging environment faced by the council.

A Forward Trajectory

Within the total budget allocation, a noteworthy increment towards capital projects to the tune of $215 million (previously $201 million) signifies TRC’s commitment to infrastructure enhancement. 

Simultaneously, operational project expenditure has risen to $533 million (previously $450 million), indicating a comprehensive approach to bolstering both immediate services and long-term development.

The TRC’s resounding investment and strategic planning underscore their dedication to fortifying Toowoomba’s resilience and growth, shaping a promising trajectory for the region’s future.