St Bede's was granted $643,450 for construction of a new Library and $206,550 for refurbishment of the Multi-Purpose Hall under Round One of the Federal Government's Primary Schools for the 21st Century (P21) program earlier this year. The funding was part of the Federal Governments stimulus packages available through the $14.7 billion Building the Education Revolution. St Bede's is the first in the Archdiocese of Canberra and Goulburn to complete the project.

The school community were welcomed by year 6 students Georgina Evans and John Sharp, and addressed by Archbishop Mark Coleridge, and Mrs Moira Najdecki from the Catholic Education Office.

Letters of congratulations from Deputy Prime Minister and education Minister Julia Gillard and from Dr Mike Kelly Member for Eden Monaro were read out.

The official plaque was unveiled by St Bede's eldest former student Pat Coffey with youngest student Scout Benning.

Morning tea was served in the new covered area outside the library where guests could inspect the new library.

Incoming Principal Gerard Galvin, and previous Principal Tim Elliott, joined the current Principal Claire Frazer, who is leaving St Bede's at the end of term.

"I would also like to thank and acknowledge the very much appreciated financial support of the Australian Federal Government" said Ms Frazer. "The new building, refurbishments and landscaping we have been in a position to complete were projects we could have only dreamed of. It is wonderful that the Federal Government has demonstrated in such a powerful way how much primary education is valued in Australia', said Ms Frazer.

Celebrations continued on Friday evening with a cocktail party attended by around 50 current and former staff and parents.