The grant offer was still being finalised when the federal government went into caretaker mode. It will now have to wait until after the May 18 election.

The funding was promised to the Sun Loong 750 campaign in November 2017.

THE Coalition has left it to an incoming federal government to ensure $250,000 promised for Sun Loong's replacement and restoration is paid.

Senator Derryn Hinch and Liberal Senator Jane Hume announced funds for the Sun Loong 750 campaign in November 2017.

Mr Hinch was in Bendigo at the weekend celebrating the arrival of new dragon Dai Gum Loong.

But the funding agreement had yet to be finalised, and will now be subject to the approval of whichever party wins the May 18 federal election.

City of Greater Bendigo chief executive Craig Niemann said Deputy Prime Minister Michael McCormack wrote earlier in the year confirming the funds had been approved, with paperwork to follow.

"The city received and signed a grant offer from the Australian Government and was in the process of finalising it when the election was called and the government moved into caretaker period," Mr Niemann said.

The funding was to be delivered through the Community Development Grants Program, which falls under the Department of Infrastructure, Regional Development and Cities.

"Under Australian Government caretaker conventions, the department cannot execute contracts for funding until the result of the upcoming federal election is known," a departmental spokesperson said.

Golden Dragon Museum general manager Anita Jack was surprised to hear the grant offer had yet to be finalised.

"As it stands everything has been paid for," she said.

The success of the Sun Loong 750 campaign meant neither Dai Gum Loong nor Sun Loong would be affected by the outstanding funding.

The campaign exceeded its $750,000 fundraising goal by about $150,000.

Ms Jack said conservation works on Sun Loong were completed much sooner than expected and within budget, and there was only one payment remaining for Dai Gum Loong, for which there was money in the bank.

She said the Golden Dragon Museum was really thankful the campaign exceeded its target.

"We've got that money there to ensure Dai Gum Loong is always out every Easter," Ms Jack said.

Member for Bendigo Lisa Chesters said she wasn't going to be as generous as Ms Jack. She said the federal government hadn't paid its fair share.

"$250,000 is a significant chunk of the budget," Ms Chesters said.

The promised funds earned the federal government recognition as a Dai Gum Loong gold partner.

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Ms Chesters said whichever party was successful at the election would inherit the mess that had been made of the funding agreement and would have to clean it up.

"This is a well established project. It should have been something the Liberals did before going into caretaker mode," she said.

She said Labor had started the conversation about honouring the agreement if elected.

Mr Niemann said the city was looking forward to working with the government to finalise the contract process after the election.

Senator Jane Hume said funding for the project was approved in March 2019.

"Obviously the government is bound by constitutional convention but the funding has been approved," Senator Hume said.

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