The contracts will be let by the new council at the end of the year. Little action can be taken before then as the current council will be in caretaker mode.

The news comes after the Ringwood Pool Action Group met with the council's chief executive officer Frank Dixon and director of leisure services Nick Cox last week to get answers on just how the $46.5million project is being funded.

The Weekly last week reported that RPAG president Peter Morrissey had serious concerns about details of the budget and the fact that construction contracts would not be signed by the time the existing pool is demolished in June.

Mr Morrissey said he feared not having contracts signed would lead to a long delay in construction. After last Wednesday's meeting, he said that given the October council elections little could be done to sign contracts before then.

"It's one of the first frank meetings I've had with Frank about these particular issues. We have been trying to get more information for 12 months," he said.

RPAG was briefed on costings for the development. The pool expenditure will include $2.384million from council savings, $2.126million of savings from the capital budget, $4million from public open space levies, $5million from land sales, $1.49million from cash holdings, $3million from a state government grant and a $28.5million loan.

"It's critical that does happen. If they can't or don't, there will be a higher impact on borrowings," Mr Morrissey said.

Mr Dixon has maintained that the council "has always identified the cost to construct the new aquatic and leisure centre in Ringwood" and "not withheld information regarding funding sources".

Mr Morrissey said RPAG was now satisfied that council could meet budget numbers but would lobby the federal government for funding. "From the meeting I got a strong understanding that we need to get a groundswell of support in the public arena so we can apply some pressure ...every rate payer would appreciate it if we could get any sort of grant."