INVERELL Shire Council has announced a more than $2 million budget surplus following the completion of the Inverell Aquatic Centre redevelopment, with $2.3 million to be reallocated.

The redevelopment, which commenced with the demolition of the previous facility in May 2023 and reached practical completion in September 2025, represents one of Council’s most significant infrastructure projects.

Inverell Shire mayor Kate Dight said Council is proud to deliver the Aquatic Centre Redevelopment under budget and on time.

“This project represents a major investment in the health, wellbeing and lifestyle of our community for generations to come,” Cr Dight said.

”The fact that we have achieved a surplus of more than $2.3 million demonstrates the strength of our planning, governance and financial management.

Inverell Shire mayor Kate Dight is celebrating a $2.3 million surplus after the completion of the Inverell Aquatic Centre.

“By reinvesting these funds into reserves and future improvements, we are ensuring that the benefits of this redevelopment extend well beyond the pool itself, supporting economic growth, tourism and community infrastructure across the Shire,” she said.

In dollar terms, the IAC is Council’s largest infrastructure project to date, with the opening of the new complex celebrated on September 12, marking the beginning of a new era of recreation and community wellbeing for the Inverell region.

Council’s funding strategy combined internal reserves, grants, and loan borrowings to ensure intergenerational equity and fiscal sustainability.

The project was delivered without compromising Council’s ability to maintain its core works and services programs.

The final budget allocation, adopted by Council in January 2023, was $30,000,943.00.

Final Construction Costs at the completion of the project were determined to be $27,681,546.71, delivering an identified surplus of $2,319,396.29.

At Council’s November Ordinary Meeting, Council resolved to reallocate the surplus funds to the following Internally Restricted Reserves as final repayment on funds previously borrowed: Other Buildings $100,000; Industry and Tourism Promotions $100,000; Economic Development and Growth Assets (TCRP Stage 3) $517,434; and Workers Compensation Insurance $150,000.

A further $1,166,041 will be transferred to Council’s Strategic Capital Infrastructure Fund, to provide the opportunity for co-contributions for future grant programs.

Another $285,921 will remain in the Aquatic Centre budget to facilitate future works.

Any residual funds remaining June 30,2026 will be transferred to the Swimming Pools Upgrade IRA.