Toowoomba Regional Council (TRC) is bracing itself for the unparalleled level of spending which will be required over the coming decade.
In order to meet legislative requirements, TRC Finance and Business Strategy Committee Chair Cr Geoff McDonald said Council was carefully balancing its books to ensure it stays within its financial parameters, while completing critical infrastructure upgrades.
“What we’re looking at over the next 10 years is not business as usual. These are items that only come along once in a generation,” Cr McDonald said.
“An example of this is the dam safety upgrades we have to complete, to meet dam safety regulation requirements.
“These upgrades alone could potentially cost well over $200 million and must be substantially completed by October 2025. These dam safety projects will be over and above Council’s annual Capital Works Program and are quarantined to ensure that project remains fully funded. Council is committed to ensuring this project proceeds without delay to ensure that our dams are safe and comply with the legislation.
“In addition to this, our upgrade of the current water treatment plant and building new water infrastructure throughout the Region will cost in excess of $100 million, as well as the flood recovery works which are estimated at more than $100 million and will require government funding.
“Council has also approved a program to roll out smart water meters to all properties in the Region over the next three years. While the cost of the project is estimated to be $27,650,000 in total, the program will see significant financial savings for residents and Council through the early detection of leaks which in turn will lead to us saving more precious water which is crucial.
“These are just some of the projects to illustrate how the costs will be above and beyond anything we’ve previously experienced.
“Although funding for capital projects can be sourced through external grants, Council must remain disciplined in our financial management to ensure we meet the sustainability framework of the State Government.
“Where we can, we will advocate for funding from the State and Federal Governments, however this source of revenue continues to be reduced each year, adding to our challenge.
“We’re not just climbing a hill over the next few years, it’s a mountain and it’s important our residents understand the financial commitment which is required from Council to meet its legislative requirements and support the delivery of essential water services to an ever-growing community.
“While we would love to focus more on the nice to have projects like the Railway Parklands, the Quarry Gardens and Toowoomba Region Sports Precinct, we understand the expectations of our community is for Council to concentrate on the ongoing delivery of critical services.
“Instead of progressing these projects in the near future, they will need to be carefully staged over several years.
“After multiple weather events we know our residents want their roads to be repaired in a timely manner.
“This is why we’ve made long-term commitments to provide funding for footpaths and regional township road upgrades, as well as accelerating our flood recovery program where possible.
“In addition to the money spent on flood recovery works, there is expected to be $119.3 million spent operationally and $59.5 million on capital works related to roads, footpaths and bikeways and drainage this financial year.
“There is no doubt the years ahead will be a major financial hurdle we need to overcome, and we’re doing everything within our power to ensure our residents aren’t significantly impeded along the way.”
