TRC adopts $703.6 million 2024-25 Budget, Operational Plan and Revenue Statement
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Toowoomba Regional Council (TRC) today (Tuesday, June 25) adopted its 2024-25 Budget, Operational Plan and Revenue Statement.
Toowoomba Region Mayor Cr Geoff McDonald said Council’s $703.6 million financial plan would allow it to maintain and upgrade existing facilities and services while planning for a brighter future for current and successive generations.
“The Budget reflects the priorities outlined in the Operational Plan (for the 2024-25 financial year) and Council’s Corporate Plan (2024-2029), which comes into effect on July 1,” Mayor McDonald said.
“We remain mindful of the cost-of-living pressures that continue to challenge families right across the Toowoomba Region.
“That is why we’ve delivered a cautious and considered financial plan with a responsible rate rise.
“The general rate will rise 5% with the majority of urban residential ratepayers facing an average increase of $3.91 per week, and keeping in mind that changes will of course depend on individual circumstances.
“We’ve reviewed and streamlined the levies we apply to each property, putting a pause on two levies, and replacing them with a Public Transport Levy. This new levy has been introduced taking into consideration community feedback over many years.
“The new levy will give Council greater leverage in advocating to the State Government on improvements that are much needed to our Region’s public transport network.
“Our $703.6 million operational and capital works program once again delivers projects and services to support our growing communities across the Toowoomba Region.
“Council will spend $231 million in this Budget on capital projects.
“Projects like the Kearneys Spring Clubhouse and amenities building, continuing the roll-out of smart water meters, replacing timber bridges in key rural locations, upgrading formed and unformed lower order roads, renewing playground equipment in the parks of our regional towns, and undertaking a business case exploring options for the future location and functionality of the Toowoomba Regional Art Gallery, are all included in this year’s Budget.
“We’re spending $472 million on our core Council operations to deliver essential services to our residents ensuring waste is collected, parks and gardens are maintained, libraries and recreation facilities remain open and that clean, safe drinking water flows from the taps of homes across the Region.
“Council remains committed to implementing a responsible and calculated financial approach in its Budget planning and delivery and has budgeted for a surplus of more than $937,000 this coming financial year.
“Council’s obligation to maintain our existing infrastructure and our ability to manage our $6.2 billion asset base across 13,000km² is a key performance indicator by which we are evaluated by the Queensland Treasury Corporation, which has recently affirmed our financial position as Sound with a Neutral outlook.
“$98.2 million is set aside in this Budget for Capital Works Projects across the Region, plus a further $22.5 million for the ongoing Disaster Recovery Funding Arrangements (DFRA) Flood Recovery Program and $110.6 million for the Cressbrook Dam Safety Improvement Project.
“Cost increases to materials and services are having significant impacts on our operations, with Council continuing to shoulder many price rises on behalf of our ratepayers.
“A key example of this is how Council expects our insurance premiums to increase almost $900,000 in 2024-25, an increase of more than 30% across some of our insurance products. This is an increase that is simply unavoidable, but ultimately effects our bottom line. An extra $100,000 is also allocated this year for Council to deal with the continued rise in electricity costs.
“Despite many external demands, Council continues to work in accordance with our long-term financial sustainability parameters to ensure we budget for essential capital works and services that support our communities for the coming year and into the future.
“Council’s overall operational and capital expenditure parameters are based on our 10-year Long Term Financial Forecast (LTFF), which is not only adopted by Council, but overseen by the Department of Local Government, the Queensland Treasury Corporation and Queensland Audit Office.
“Despite the continued decrease in sustainable funding for local governments right across Australia, we are confident that our cautious financial approach, and our planning for the future, means that our Region will continue to grow and prosper with our Rich Traditions and Bold Ambitions,” Mayor McDonald said.
For full details of the 2024-25 Budget, please visit www.tr.qld.gov.au/budget
2024-25 Budget highlights
A $703.6 million Budget• A 5% increase to the general rate (net overall increase in rates and charges of 5.77% for an urban residential property). The majority of urban residential ratepayers will have an average increase of $203.24 a year, or $3.91 a week, after discount, which includes all rates and charges, including water and wastewater charges.• A review of the levy structure, which has resulted in the replacement of two previous levies, with a Public Transport Levy to assist TRC to partner with the Queensland State Government to deliver the Toowoomba Region Sustainable Transport Strategy. The previous Environment Levy has also been replaced with a Waste Facilities and Rehabilitation Levy, which will direct funds to the planning and delivery of new and existing TRC waste management facilities and rehabilitation of closed sites. • Operational (service delivery) expenditure of $472.2 million • A capital (infrastructure) program of $231.4 millionIn the coming year, the major areas of capital expenditure will include: • $33.5 million for water and wastewater projects (excluding Cressbrook Dam Safety Improvement project). • $22.7 million for roads, drainage, footpaths and bikeways. • $22.5 million to complete the 2022 DFRA Flood Recovery Program. • $10.3 million for parks and recreation projects. • $7.9 million for waste services. • $6.4 million for community services and facilities. • $3.3 million for business strategy and operations.
Infrastructure • The completion of the DFRA Flood Recovery Program will be a major focus of the Infrastructure Services Group with $22.5 million in capital committed to completing the program by 31 December, 2024. • $3 million is allocated to replace a timber bridge on Melrose Road at Brookstead and a further $2.5 million to begin the replacement of a timber bridge on Branchview Road at Branchview. Both bridges are crucial to these rural areas. • $2 million committed to the second year of a 5-year plan to upgrade lower order roads in rural areas of the Region. • A further $1 million commitment to the continued upgrade of O’Brien, Kratzke and Highfields Road intersection at Highfields for utility relocations.
Water and Waste • $110.6 million to start construction of the Cressbrook Dam Safety Improvement Project to ensure compliance with State Government requirements. • $5.5 million for Stage Three of the Toowoomba Waste Management Centre vertical expansion, constructing a new lined cell over Cell A. • $3.3 million for the continued roll-out of smart water meters across the Region. • $2.5 million for preliminary works in the establishment of the Toowoomba to Warwick Pipeline with investigations to be completed into the Greenmount and Southern water treatment plant. • $1.6 million committed to upgrading the Kingsthorpe Reservoir to meet growth demands. • $1.5 million committed for a pipeline to connect Vale View to the Toowoomba Bulk Water Supply.
Environment and Community Services • $2.4 million for the replacement of the Kearneys Spring Recreation Reserve Clubhouse and amenities, which services a range of user groups, including touch football and softball. • $840,000 to renew playground areas at parks in Pittsworth, Meringandan, Cooby Dam and Rangeville. • $800,000 for a skate park upgrade to Joseph J Leadbetter Park at Centenary Heights. • $600,000 to progress detailed design and further development of the Toowoomba Escarpment Mountain Bike Project. • $500,000 committed to the Lucy Street Park at Cambooya, including construction of a new activity node, paths, and visitor facilities. • $300,000 committed to a business case exploring options for the future location and functionality of the Toowoomba Regional Art Gallery to help deliver elements of the Connecting through Creativity – Toowoomba Region Cultural Strategy 2023-2028.
Planning and Development • A $1 million commitment to the continuation of the Toowoomba Futures Project.
Finance and Business Strategy • $940,000 towards the replacement of ICT user equipment at the end of its useful life. • $480,000 towards the Customer Experience Together (CXT) Project, which aims to build on and enhance existing Council systems and processes to provide customers with a more innovative and efficient customer experience.
2024-25 General Rate increase 5%
Financial position • The Queensland Treasury Corporation has maintained Council’s credit rating as Sound with a Neutral Outlook. Going into the 2024-25 financial year, Council is forecasting an operating surplus of $937,000.
Caption: TRC General Manager of Finance and Business Strategy Ann-Marie Johnston, TRC Financial Services portfolio representatives Cr Gary Gardner and Cr Tim McMahon (right) and Toowoomba Region Mayor Cr Geoff McDonald following the adoption of Council’s 2024-25 Budget, Operational Plan and Revenue Statement.