Toowoomba council reports $180.8m debt as renewals fall short of target

Toowoomba Regional Council reported $180.8 million in debt and $282.6 million in unrestricted cash at 31 August, while renewal work accounted for just 18 per cent of capital spending across the region.

The cash balance covered 13.75 months of unrestricted expenses, above the Queensland Government financial management guideline target of more than two months. The council also recorded a 1.37 ratio for debt compared with its revenue base.

The figures were included in the Monthly Financial Performance Statement received by councillors on 15 September.

Council’s 2026/27 budget includes a $236 million capital works program and a $5.4 million operating surplus. The budgeted operating surplus ratio is 1.09 per cent.

The capital works report showed 82 per cent of spending went to new or upgrade projects, against the council’s 60 per cent target for renewals. The report identified the asset sustainability ratio as below target.

Operating income was $2 million, or 1 per cent, above budget. The result included $1.2 million in additional disaster recovery funding revenue linked to the January 2024 event.

Operating expenditure was $1.4 million, or 2 per cent, below budget. Materials, services and other expenditure was $2.3 million below budget because of the timing of contract costs for utilities and services including legal, waste, electricity and security.

Capital expenditure was $8.99 million, or 46 per cent, below budget, largely because of payments to developers. The financial statement was received by council.

The report also recorded a $314,000 year-to-date surplus for active disaster recovery programs, while the life-to-date operating result for those programs was a $2.73 million deficit.