Rates & spending · Toowoomba Regional Council
Toowoomba council reports $344.9m in unrestricted cash as renewals trail target
The September financial report showed 14.88 months of expense cover, but only 26 per cent of capital spending had gone to renewals against a 60 per cent target.
Reporting from draft minutes. Recorded wording may change when confirmed. How this article was prepared
Toowoomba Regional Council reported $344.9 million in unrestricted cash and 14.88 months of expense cover at its 27 October meeting, while its September capital program was weighted towards new and upgrade work rather than renewals.
The figures were contained in the Monthly Financial Performance Statement for the period ending 30 September 2026, which councillors received. The report compares the cash-cover result with a Queensland Government guideline target of more than two months.
The report recorded a leverage ratio of 1.56, within the stated target range of zero to four times, and an operating surplus ratio of 39.5 per cent against a target above zero. It attributes the cash position to capital expenditure being lower than forecast at 30 September, but does not reconcile that explanation with the higher total against the adopted year-to-date budget in its detailed table.
The capital figures require care. The report records year-to-date capital expenditure of $41.994 million against an adopted year-to-date budget of $34.431 million, $7.563 million, or about 22 per cent, above budget. Its summary describes the variance as favourable despite the higher spending. The detailed table identifies $10.88 million in developer payments and shows other parts of the program below their year-to-date budgets.
Renewals accounted for 26 per cent of capital spending to date, compared with a 60 per cent target. The cumulative asset sustainability ratio was reported at 14.48 per cent, also below its target of more than 60 per cent. The report attributes the result to higher new and upgrade expenditure, with renewals making up 25.74 per cent of capital spending in the detailed sustainability snapshot.
The report says the lower asset sustainability ratio may indicate increased sustainability pressures if spending on new and upgraded assets continues. It also records a year-to-date asset consumption ratio of 66.15 per cent, above its target of more than 60 per cent.
The financial-statement motion records receipt of the report, not approval of a new renewal program or a change to the 60 per cent target. The minutes are marked unconfirmed, and the figures have not been independently verified.
What deserves a closer look
The source records high reported liquidity alongside a capital-spending mix weighted towards new and upgrade work.
The detailed year-to-date capital expenditure total exceeds the adopted year-to-date budget, although the summary labels the variance favourable.
The financial-statement motion records receipt of the report, not approval of a new renewal program or a change to the renewal target.
Questions for follow-up reporting
What, if any, changes to renewal spending are planned in response to the reported gap against the 60 per cent target?
If delivery timing has changed, what revised dates apply to capital works below their year-to-date budgets?
Check the record
These passages were matched to the source text. Read them in context in the original minutes.
The supplied record is marked unconfirmed and identifies the Toowoomba Regional Council Ordinary Meeting of 27 October 2026.
Toowoomba Regional Council Minutes of the Ordinary Meeting of Council held on Tuesday, 27 October 2026 in the Council Chambers, First Floor, City Hall, 541 Ruthven Street, Toowoomba Page 1 of 463 UNCONFIRMED Toowoomba Regional Council Ordinary Meeting of Council 27 October 2026 TABLE OF CONTENTS 1.Opening of Meeting and Acknowledgement of Traditional Owners 2.Reception of Deputations or Delegations by Appointment 3.Attendance including Apologies, Leave of Absence, Granting Leaves of Absence and Declarations of Conflict of Interest 4.Confirmation of Minutes 5.Business Arising out of Minutes of Previous Meetings 6.Presentation of Petitions 7.Business
Document title and status
Open original minutes ↗The unconfirmed minutes record a carried motion to receive the Monthly Financial Performance Statement for the period ending 30 September 2026.
REASONS FOR RECOMMENDATION Page 22 of 463 UNCONFIRMED Toowoomba Regional CouncilOrdinary Meeting of Council 27 October 2026 Nil. MOTION Moved by Councillor Edwina Farquhar, seconded by Councillor Melissa Taylor That the Monthly Financial Performance Statement for the period ending 30 September 2026 be received. CARRIED Page 23 of 463 UNCONFIRMED Toowoomba Regional CouncilOrdinary Meeting of Council 27 October 2026 CORPORATE PLAN REFERENCE 4.2Continue to pursue prudent financial management and sustainability.
Item No. 9 motion and carried result
Open original minutes ↗The report recorded $344.9 million in unrestricted cash and 14.88 months of expense cover at 30 September 2026, against a Queensland Government guideline target of more than two months. The report's summary describes the capital expenditure variance as favourable by $7.56 million or 22 per cent, due to developer payments.
• Capital income - Unfavourable variance of $179K or 2%. •Capital expenditure - Favourable variance of $7.56M or 22% due to payments to developers. Treasury Summary •Unrestricted Cash Expense Cover Ratio at 30 September 2026 was 14.88 months, and Total Unrestricted Cash was $344.9M against the Queensland Government Financial Management (Sustainability) Guideline target of greater than two (2) months.
Item No. 9 Treasury Summary
Open original minutes ↗The report recorded a leverage ratio of 1.56 within the target range of zero to four times.
Leverage Ratio - The ratio of 1.56 is within target range (0 - 4 times) and this ratio with the higher than target Unrestricted Cash Expense Cover Ratio indicates Council is currently able to fund additional capital expenditure through working capital and / or borrowings without increasing sustainability and service delivery risks.
Sustainability Snapshot — Leverage Ratio
Open original minutes ↗The report recorded an operating surplus ratio of 39.5 per cent at 30 September 2026 against a target greater than zero.
•Debt at 30 September 2026 was $176.6M. Sustainability Snapshot. •Annual review of cash versus debt analysis has commenced. •Operating Surplus Ratio as at 30 September 2026 was 39.5%, against a target of greater than 0%.
Item No. 9 Sustainability Snapshot
Open original minutes ↗The report attributes the level of unrestricted cash to less-than-forecast capital expenditure at 30 September 2026. The sustainability snapshot reports a cumulative asset sustainability ratio of 14.48 per cent, below its target of more than 60 per cent, and attributes the result to higher new and upgrade expenditure, with renewals comprising 25.74 per cent of capital spending to date.
The level of unrestricted cash can be attributed to less than forecast capital expenditure levels as at 30 September 2026. CASH AND INVESTMENTSBORROWINGS (4.40% to 5.38%) (1.95% to 7.33%) 344,948 69% 151,713 31% Cash Composition Unrestricted Cash Restricted Cash Page 35 of 463 UNCONFIRMED Sustainability Snapshot As at 30 September 2026 Asset Sustainability Ratio (ASR) - The cumulative ratio of 14.48% is below target of greater than 60% for the period due to higher new and upgrade expenditure with total renewals comprising a 25.74% of total capital spend to date, generating an ASR of 24.72% for the month.
Treasury Summary explanation
Open original minutes ↗The detailed table reports year-to-date capital expenditure of $41.994 million against an adopted year-to-date budget of $34.431 million, a difference of $7.563 million or about 22 per cent above budget. It identifies $10.88 million in developer payments and shows capital works program expenditure and Cressbrook Dam Safety Improvement Project expenditure below their respective year-to-date budgets.
Adopted BudgetYTD Actuals Original Adopted Budget 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 Labour Operational CostsMaterials, Services and Other Expenditure Expensed Capital - (Prior Year) Finance CostsDepreciation Operating Expenditure YTD Original Adopted BudgetYTD Actuals Original Adopted Budget Page 29 of 463 UNCONFIRMED Consolidated Financial Performance Statement as at 30 September 2026 Original Adopted Budget YTD Original Adopted Budget YTD Variance to Budget YTD % Variance YTD 2025/26 Actuals Notes $'000$'000$'000$'000 Income Capital Revenue Grants, Subsidies and Contributions 60,987 2,841 2,412 (429)(15) 4,5997 Infrastructure Charges - Cash 15,500 7,850 8,079 2293 5,165 Contributed Assets 23,000 0 0 0 0 0 Sale of Assets 6,099 760 781 213 209 Total Capital Revenue 105,586 11,451 11,272 (179)(2) 9,974 Expenditure Capital Expenditure Capital Expenditure - CWP 155,064 25,009 22,042 2,96612 16,613 8 Capital Expenditure - Developer Payments 0 0 10,880 (10,880)(100) 3,041 9 Capital Expenditure - Cressbrook Dam Safety Improvement Project 81,400 9,422 9,071 3514 4,713 Total Capital Expenditure 236,464 34,431 41,994 (7,563)(22) 24,367 CFPS Prior Year Column - The 2025/26 Actuals Column with the CFPS that was presented to the Ordinary Meeting of
Consolidated Financial Performance Statement — capital table, headings and units
Open original minutes ↗The report states that renewals accounted for 26 per cent of capital expenditure actuals and new or upgrade work accounted for 74 per cent, against a target of 60 per cent renewals.
This report highlights the physical project percentage complete life-to-date, noting some of these projects are multi year. •The Capital Works Summary graph highlights capital expenditure including the New (N) / Upgrade (U) and Renewal split of Actuals. The percentage is 26% renewals and 74% new / upgrade with a target of 60% renewals. New / Upgrade projects include: oPayment to Developer (N) - $10.9M actuals oLand Acquisitions (N) - $2.1M actuals Current Year Sustainability Statement (Attachment 3) •The Current Year Sustainability Statement highlights how Council's financial sustainability is tracking for the 2026/27 financial year.
Capital Works Summary — expenditure split
Open original minutes ↗Source record
Reporting from the public, unconfirmed draft minutes of Toowoomba Regional Council's Ordinary Meeting of 27 October 2026. The supplied record is incomplete.
Key facts from the minutes
- The unconfirmed minutes record Council receiving the Monthly Financial Performance Statement for the period ending 30 September 2026.
- Unrestricted cash was reported at $344.9 million, with 14.88 months of expense cover.
- The report recorded an operating surplus ratio of 39.5 per cent and a leverage ratio of 1.56.
- Reported year-to-date capital expenditure of $41.994 million exceeded the adopted year-to-date budget of $34.431 million by $7.563 million, or about 22 per cent, despite the summary describing the variance as favourable.
- Renewals represented 26 per cent of capital spending to date against a 60 per cent target.
- The cumulative asset sustainability ratio was reported at 14.48 per cent, below the target of more than 60 per cent.
- The financial-statement motion records receipt of the report, not approval of a new renewal program.
Why it matters
- The report presents strong current liquidity alongside a capital-spending mix that is below the council’s renewal target.