Councillors awarded the loan on Tuesday afternoon, keen to ensure the event continued and did not move to another area after last year's event resulted in a loss.

The loan will be repaid over five years.

Cudal Agricultural and Pastoral Society also received $66,000 to upgrade electricity and water facilities.

Councillor Paul Mullins raised concerns about Molong Pool and the introduction of lane swimming disrupting people using the pool for rehabilitation.

Recording was trialled at the meeting, with councillors having to get used to turning their microphones on - recordings will officially start next month and be uploaded at the meetings' conclusion.

Intentus Chartered Accountants director John O'Malley presented the council's financial performance for the year, which revealed the council's spend for the year was more focused on new infrastructure, including $5 million each on water and roads, rather than asset maintenance.

Councillors Anthony Durkin and Jenny Weaver were apologies.

Hudson Izzard and Lachlan Thompson were named youth of the month for October and November respectively.

Kristine Farrell was given an outstanding service award, having started at the council in 1980, served at senior rates officer until 2001 and senior accounting officer until retiring recently.