{"id":344531,"date":"2024-02-27T18:05:58","date_gmt":"2024-02-27T08:05:58","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=344531"},"modified":"2024-02-27T18:05:58","modified_gmt":"2024-02-27T08:05:58","slug":"trc-budget-costs-drop","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2024\/02\/27\/trc-budget-costs-drop\/","title":{"rendered":"TRC Budget Costs Drop"},"content":{"rendered":"
\"\"
Toowoomba Regional Council spent $250 million on its 2022 flood recovery efforts, which was slightly lower than the Council had anticipated (Photo: TRC)<\/figcaption><\/figure>\n

February 27, 2024<\/strong><\/p>\n

Toowoomba Regional Council\u2019s estimated capital budget for the 2023-24 financial year has dropped by about $10 million, largely due to the timing associated with a number of water projects.<\/p>\n

At a Special Meeting of Council held on Monday, general manager Ann-Marie Johnston said contractor works as part of the Disaster Recovery Funding Arrangements had also come in below the original forecast.<\/p>\n

\u201cThe total repair works for the 2022 Flood Recovery Program is expected to be about $250 million with assistance provided through the jointly funded Commonwealth-State Disaster Recovery Funding Arrangements,\u201d she said.<\/p>\n

\u201cTo see any reduction in the estimated cost is a great outcome for our community.<\/p>\n

\u201cAs part of the Budget review process, Council is also expecting to receive an additional $3.5 million due to an increase in interest revenue received.<\/p>\n

\u201cWhile this news is positive, we know we\u2019re operating in a challenging market with fluctuating prices and this has a significant impact on our Budget.<\/strong><\/p>\n

\u201cWe continue to see the price of materials and services, and other expenses increasing. As a result of this, additional funding will be required for the operating expenses associated with waste and water operations as well as many other services provided by Council.<\/p>\n

\u201cWe\u2019ve also had to account for the additional funding required for business continuity, risk management and insurance.<\/p>\n

\u201cThere has also been an adjustment of capital projects such as the Toowoomba to Warwick pipeline, the Highfields Trunk Water Mains and the Cressbrook Dam Safety Improvement Project, which is largely due to the timing of payments, with the projects all still progressing as planned.”<\/p>\n

Council is now anticipating a $1,323,241 surplus this financial year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Toowoomba Regional Council\u2019s estimated capital budget for the 2023-24 financial year has dropped by about $10 million, largely due to the timing associated with a number of water projects.<\/p>\n","protected":false},"author":20,"featured_media":344535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[22,3],"tags":[1131],"yoast_head":"\nTRC Budget Costs Drop - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"Toowoomba Regional Council\u2019s estimated capital budget for the 2023-24 financial year has dropped by about $10 million, largely due to the timing associated with a number of water projects.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2024\/02\/27\/trc-budget-costs-drop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TRC Budget Costs Drop - 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