Manfeild Park Trust has at last seen some green in its books.

Trust board chairman Gordon Smith presented the welcome news of a three-month profit totalling $58,000 to the Manawatu District Council last week.

Smith said the profit was achieved through re-servicing debt which decreased monthly interest costs, and bringing expenses to a lower level. Additional income streams were also revised and explored.

Funding for venue development from charitable organisations has also been sought Smith said, and in turn had helped the trust's financial position. This was necessary to attract more high level motorsport, and to retain what it had already secured, Smith said.

"The new board has been in place for six months now. The focus has been on controlling expenses and developing strategy, casting a view on the next five to ten years," Smith said to the meeting.

Feilding mayor Margaret Kouvelis told the council had "extraordinary confidence" in the newly appointed board , even though in taking the job they had been handed "a bit of a hospital pass".

"Your board lives with a bit of history, but you're moving forward," Kouvelis said.

The new board seemed robust, and had energy and vigour in their approach to turning the tide on the trust's financial woes, Kouvelis said.

Trust chief executive officer Julie Keane said the profit was a great achievement, and was a result of working with the new board to sign off both a new budget and business plan, then sticking to it.

"It's been a great period of time for us. We know we are on track and we know what we need to be doing," Keane said.

In relation to a debt-repayment strategy, in particular council loans, Smith said the trust would be better able to answer in 2017, before the interest-free period ended, expecting they would come up with a plan mid-2016 to meet requirements.

Smith said the small but positive profit going into the 2016 financial year held promise, and credited all involved with the trust's operations for the achievement.

"Julie has worked extremely hard with us to get us to the point we're at. At least now we are all on the the same page, all with the same belief," Smith said.

The trust's major creditors include the district council and Palmerston North City Council.

The interest-free loans total about $3 million each.

Additional rates funding was required mid-year to cover a deficit in interest revenue after both councils extended the interest-free period on the loans until October 2017.

An additional 0.3 per cent was added to the MDC's rates increase for 2016 to accommodate the trust's loans. It was rushed through and approved without public consultation in late June.

District council general manager of community and strategy Brent Limmer said at the time, a small rates rise was required to minimise the impact on services and projects, and the time frame did not allow for public consultation.

"The council determined that it was important to provide surety around the future of the park and provide the incoming board with a period of stability," Limmer said.