Lowest rate rise in seven years: Toowoomba mayor
RESIDENTS can expect the lowest rates increase since 2008 when Toowoomba Regional Council hands down its 2015-16 budget tomorrow.
Remaining tight lipped about budget particulars, Mayor Paul Antonio yesterday said council's financial position, aided by the completion of major flood repair works this year, meant the documents would deliver a small rates and charges rise.
Council last year increased rates by four per cent.
"I think this is a particularly good budget," he said.
"This council has worked on it very hard over the last six months, reviewed it and I think we've come up with a positive budget that reflects a number of things, including our commitment to the necessary services to this community."
Cr Antonio said the council's recent upgrade to neutral from a sound financial rating by the Queensland Treasury Corporation was good news for ratepayers.
"That's a good position to come from and as a result of that, I can tell you that this budget will reflect the lowest rate increase in the seven years since amalgamation," Cr Antonio said.
"It is seriously big news and I think that is a reflection that ever since amalgamation, we have worked to bring eight separate financial models together.
"We have done that successfully and as a result we are now being viewed by bankers as being in a pretty sound financial position."
He said the completion of flood recovery works funded in last year's $55 million budget freed up finances for other works.