Council agreed at its meeting on Tuesday to accept the park, which commemorates the lives and experiences of the children who lived at the adjacent Fairbridge Farm, from the Old Fairbridgians Assocation.

The acceptance comes with an annual maintenance bill of about $15,000.

Mayor Kevin Beatty said while an opening ceremony for the park was held in March this year it was technically not officially open.

He said that would follow Cabonne's acceptance of the park.

Cr Beatty said it was already proving an attraction for people to Molong.

However he said there were flooding risks.

"They [the Old Fairbridgians] are fully aware it is in a flood area. When a flood comes down there, there might be some damage. They are fully aware of that," he said.

Cr Jenny Weaver said council's likely outlay had been reduced. "I was pleased to see our costs had been reduced from $25,000 down to $15,000," she said.

Council was told the Old Fairbridgians contacted them on June 25 asking council to accept the donation of the park's assets.

A report to council said the site had been inspected by staff.

"Inspection of the completed works at the park show that the infrastructure that has been provided is in a sound condition and does not present a risk of premature failure," it said.

"Several maintenance items were raised during the inspection, of which the contractor has rectified to the satisfaction of council.

"An assessment of the ongoing operational needs of the park has been undertaken, with an estimate of approximately $15,000 per annum required to maintain the park.

"This amount is an estimate and would be expected to fluctuate with season and priority of service levels across all council assets."

It said a plan of management, listing the Old Fairbrigians Association as a key stakeholder, was being prepared.

Meanwhile, council also agreed to join a strategic alliance to share resources and equipment with the Orange and Blayney councils.

Council also approved waiving inspection costs for about 90 food businesses in the council area as a sign of goodwill during the coronavirus pandemic.