Toowoomba Regional Council (TRC) has secured a positive win for the community in securing an interim $4 million surplus for the 2024/25 financial year.
At today's Ordinary Meeting of Council, Councillors endorsed the interim full year result which turned a revised $5.7 million budgeted deficit into an interim $4 million surplus.
Toowoomba Region Mayor Geoff McDonald said the interim result was driven by the Australian Government's prepayment of 50 percent of TRC's 2025/26 Financial Assistance Grant as well Council's ongoing commitment to finding savings across the organisation.
"With the Australian Government providing us a $2.8 million prepayment of our 2025/26 FA Grant and by Council finding savings and efficiencies, we have now reported an interim surplus of $4 million for the 2024/25 financial year.
"Although a small surplus, this is a terrific result for Council and the community.
"There is so much to be positive about in our great Region. Our lifestyle and location as the major service centre to our west and solution to the growing pains to our east, is the envy of many regions across Australia.
"We are Queensland's agricultural economic powerhouse, with the sector adding $1.24 billion in gross regional product to the Queensland economy last financial year.
"The ag sector alone employs 8,000 people in our region and supports almost 4,000 businesses.
"We grow a third of Australia's cotton, are home to 65 per cent of Australia's beef feedlotting and have almost 1000 hectares of land dedicated to fruit and vegetable cultivation, right here in the Toowoomba Region," Mayor McDonald said.
"Council's efforts in responsibly managing our finances on behalf of the community to peg back a $5.7 million budgeted deficit to a $4 million interim surplus is a positive for our community.
"It means that Council will remain with a long-term financially sustainable outlook which gives industry confidence to invest in our region, support our economy and create jobs for decades to come," he said.
The June result is an interim year end position as figures are subject to change as part of End of Year adjustments. Final figures are reported in TRC's Annual Report, expected to be released in October.
