Council Debt to Reduce
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South Burnett Regional Council announced at the Budget meeting on 21 June 2023 that there will be no additional borrowings over the next 12 months.
Council is looking to have borrowings in the 2024-2025 and 2025-2026 years to assist with costs associated with the Gordonbrook Dam Wall Upgrade.
Council’s borrowings with the Queensland Treasury Corporation are predicted to land at $27,147,746 for June 2023.
Total borrowings will be reduced down to $23,796,091 over the next twelve months through loan repayments, with a large portion of Council’s loans due to be paid out by 2030-2031. This is compared to a peak in borrowings of $44,931,544 in 2016.
