Toowoomba Regional Council’s financial woes as of late have been softened with the announcement of an interim $4 million surplus for the 2024/25 financial year.

At last week’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 last month as well Council’s own cost-cutting measures.

“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,” Mayor McDonald said.

He said the $4 million interim surplus is a positive for the wider 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.

This article appeared in On Our Selection News, 24 July 2025.