Guests at the Sequin Ball, held at Gunnedah Rugby Club, raised more than $25,000 for the bus fundraiser through the live and silent auctions on the night.

The event saw about 260 guests dress up in their most sparkling and shining outfits, which organisers say was "incredible" and "unbelievable".

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Sesquicentenary committee member Holly Middlebrook said the bus would allow the school and local community "to do so much more" out of town.

"We have so many events going throughout the year, such as swimming lessons, sport carnivals, choirs, eisteddfods, and we're probably one of the few schools who don't have a bus and it costs so much money to get a company in to pick up the kids," Ms Middlebrook said.

"[The Carroll community] will be able to use it for things they might like to do or people who can't get to town can. It's something that everyone will benefit from - not just the students, but the community as well."

Ms Middlebrook said the ball was a "lovely evening" to take everyone's minds off the ongoing drought.

"It was so nice to see everyone get together all dressed up in their sequins and forget about the drought," she said.

"We've had so many lovely text messages coming through saying it's one of the best balls they've been to."