Toowoomba Regional Council Reports $4 Million Interim Surplus for 2024/25

Toowoomba Regional Council (TRC) has announced an interim $4 million surplus for the 2024/25 financial year, marking a significant turnaround from its previously forecast $5.7 million deficit.

The result was endorsed at the Ordinary Council Meeting, with Mayor Geoff McDonald crediting both a federal grant prepayment and internal cost-saving measures for the improvement.

"The Australian Government's $2.8 million early payment of our 2025/26 Financial Assistance Grant, combined with Council's commitment to finding operational efficiencies, has enabled us to deliver this positive result," Mayor McDonald said.

"While modest, the $4 million surplus is a strong outcome for both Council and the community. It demonstrates responsible financial management and reinforces our long-term sustainability."

Mayor McDonald also highlighted the region's strategic importance, noting its role as a major service centre for surrounding areas and a key player in Queensland's agricultural economy.

"Toowoomba is a powerhouse of agricultural production, contributing $1.24 billion in gross regional product last financial year. Our region grows a third of Australia's cotton, hosts 65 per cent of the country's beef feedlotting, and supports almost 1,000 hectares of fruit and vegetable cultivation," he said.

The agricultural sector employs 8,000 locals and supports nearly 4,000 businesses across the region.

"Achieving this financial outcome boosts confidence among investors and industry stakeholders, helping to drive job creation and economic growth for years to come," Mayor McDonald added.

TRC noted the figures are interim and subject to final end-of-year adjustments. The final financial results will be detailed in the Council's Annual Report, due in October.