Toowoomba Council locks in debt policy as 7.34% rates rise is adopted

Toowoomba Regional Council has adopted its Debt Policy for 2026/27, setting the rules it will use to borrow and manage debt over the coming financial year.

The policy was adopted at the same meeting where councillors signed off on the 2026/27 budget package, the Procurement Policy and the Financial Sustainability Strategy 2026/27. The debt policy motion was moved by Cr Edwina Farquhar and seconded by Cr Bill Cahill.

Council also resolved that the total change in rates and utility charges budgeted to be levied for 2026/27 will be 7.34% compared with 2025/26, excluding discounts and rebates. That sits alongside the debt policy as part of the council’s broader financial settings for the year.

The budget package keeps a 5% discount for prompt payment on selected charges, including differential general rates, sewerage utility charges and water infrastructure charges, where bills are paid within 33 days and the other conditions are met.

Eligible pensioners will also continue to receive a $70 annual rebate on the water infrastructure charge if they have access to any Toowoomba Regional Council water supply.

Council also set a Public Transport Levy of $43.58 per rateable assessment, and adopted the 2026/27 Operational Plan, which sets out the year’s actions, projects and services.

For ratepayers, the debt policy matters because it guides how council borrows and manages debt. The Financial Sustainability Strategy 2026/27 also points to pressure from reduced grant funding and reliance on rate revenue, alongside the need to maintain ratios for operating surplus, cash flow and asset renewals.

The debt policy was adopted under section 192 of the Local Government Regulation 2012 and will apply through 2026/27.

Council also adopted its Procurement Policy and Financial Sustainability Strategy 2026/27 at the same meeting.