[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6238341,"mediaKeyId","3352735-9f1ebdc5d79ff235bd08472a79fd810f","parentId",3352735,"title","Committee approves mid‑year FY25 budget amendment; moves $1.5M to stormwater fund and recognizes battlefield grant","audioSeconds",419,"startMs",279000,"endMs",698000,"viewUrl","/Search/View?dp=1&key=3352735-9f1ebdc5d79ff235bd08472a79fd810f&start=279&end=698","thumbnailUrl","https://assets.pipeline.soar.com/3352735-9f1ebdc5d79ff235bd08472a79fd810f/thumbnail_279000.jpg","articleUrl","/articles/6238341/Franklin-City/Williamson-County/Tennessee/Committee-approves-midyear-FY25-budget-amendment-moves-15M-to-stormwater-fund-and-recognizes-battlefield-grant","mediaUrl","https://secure.pipeline.soar.com/6238341-2b2c6d50a3b4e84094c3f5f3aba4922b/orig.mp4?Expires=1776522732&Signature=m84j1lsrd6lpBJjG~YclDNuxPP1Wa51kD-9w2eoesA~m66hBkugniHJIXeZJ~CZfCrN7DewOxHRc8ugt9801eIr30OKuw2kfmTPM7vCuNADhta-sPxXLfxSkcVq5JoBx96NfGsMFFlTaWg3SXro9drxZ6qVZ30CaCldPP-0Dr557dAjbRUdyiGopvXHw66oE3c6VyOfMX5jxubhTfSGIbDnuQCJ3cYBZ1ur~FgTaBUhfvynb2mm1GwpV3-5esUM5khn2jstdSU3F9vxmN3kZGv1kiXknmDGwc6jb~qePy288jzvAhGWkZOutIG722tutrYaFOo7rsZuJrDvPZaa3aw__&Key-Pair-Id=KUT5TJCACFTXG","author","Franklin City, TN","date","2025-05-15T22:08:46Z","article","The City of Franklin Budget & Finance Committee voted unanimously to forward a mid‑year amendment to the fiscal 2025 budget that rebalances funds, recognizes new revenues and authorizes a $1.5 million transfer to the stormwater fund.

\"This is budget day of all days here at the, budget and finance committee,\" said Michael Walters Young, chief budget performance officer, introducing draft ordinance 2025‑12 and the three amendment objectives: maintain a balanced general fund (a State of Tennessee requirement), ensure appropriate year‑end fund balances in all funds, and maintain funding for approved capital projects.

The amendment recognizes roughly $3,885,000 in additional general‑fund revenues and matching expenses. Revenue adjustments cited by staff included $600,000 reallocated from debt‑service interest savings related to a later bond issuance, $1.6 million from stronger local option sales tax collections, $500,000 in additional state business tax receipts, and a $970,935 pass‑through grant associated with Franklin's Charge from the American Battlefield Trust.

On the expenditure side, staff described personnel cost adjustments (roughly $1.5 million, primarily for reducing vacancy savings previously assumed in departmental budgets), added repairs and maintenance for fire operations ($175,000), facilities budget alignment ($700,000) and a net decrease of about $1,075,000 in traffic operations tied to project timing. The amendment also covers lease accounting under GASB 96 for city software leases.

\"The predominant amount of this is taken up in adjusting for vacancy adjustments,\" Young said, explaining that departments often include a vacancy cushion that may not materialize in a given year.

The transfer of $1.5 million to the stormwater fund was explained as necessary because the stormwater fund balance has been drawn down over several years and did not have sufficient cash to purchase a recommended street sweeper and to close FY25 with an appropriate balance. Staff said a cost‑of‑service study for stormwater is planned in the coming fiscal year and any fee recommendations would be considered in FY27.

The committee voted 4–0 to forward the amendment to the full board for approval.

The committee also discussed related fund movements: the Road Impact Fund will transfer $11 million to fund three capital projects in the capital projects fund (Jordan Road, Long Lane/Patonsville Road and East McEwen improvements), and the hotel/motel fund shows an increase of $1 million to support near‑completion projects including improvements to the main barn at Harlinsdale Farm.

The committee asked staff to be prepared to answer follow‑up questions at the board level; the ordinance will be on the board agenda for consideration during the budget cycle.","mediaType","Video","parentTitle","City of Franklin, Budget and Finance Committee 5-13-2025","oneSentenceSummary","The Budget & Finance Committee voted to forward draft ordinance 2025‑12, a FY25 budget amendment that recognizes $3,885,000 of additional general‑fund revenues and expenses and transfers $1.5 million to the stormwater fund to restore balances and purchase a street sweeper. The amendment also recognizes a pass‑through grant for Franklin's Charge.","taxTitle","Franklin City, Williamson County, Tennessee","taxId",4577,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6238345,"Franklin committee advances $243.3 million FY26 budget, proposes 32¢ property tax and 1% hotel tax increase",377,876000,1253000,"/Search/View?dp=1&key=3352735-9f1ebdc5d79ff235bd08472a79fd810f&start=876&end=1253","https://assets.pipeline.soar.com/3352735-9f1ebdc5d79ff235bd08472a79fd810f/thumbnail_876000.jpg","/articles/6238345/Franklin-City/Williamson-County/Tennessee/Franklin-committee-advances-2433-million-FY26-budget-proposes-32-property-tax-and-1-hotel-tax-increase","https://secure.pipeline.soar.com/6238345-9d729f643eb9f32bdaca720344472292/orig.mp4?Expires=1776522732&Signature=hhQKML9XzA2uvZYwcSppDzD2Nk~8KZnrXZklr4NNVu1EQl8Mp53KXYXOddZSlLDUE2EpXkW~x~lpH-UwzQAVVxZQBHKg9ANkLXG-MEXBhTHgG4XnKM8-KoqPF8aDX62M-sMzOpI-l9SZIEHJbH8WkAHiPfJKn2gcs-7quQKjZNkAKvm~deltH7OzB47A2a2uOqJ2OLKn49mnjJq9dxDmcctLTM0jWyPcGaDuwtEYv9WOGIgYui1N0UWtEFK52wOgJr5aTgRbgEpWZYJ--7akqF4lmtkxEks6o230J~mBIHETUDZT6a~U2nUqwrg-kdgRy-u4fnwkkKPbURxc4XmtJw__&Key-Pair-Id=KUT5TJCACFTXG","City of Franklin staff on Thursday recommended the fiscal 2026 budget to the full Board of Mayor and Aldermen, proposing an all‑funds total of $243,300,000 and a municipal property tax rate of $0.32 per $100 of assessed valuation to fund capital projects and operations.

The recommended rate is presented in three parts: a 23.1¢ equalized base (from a recent reappraisal), 6.8¢ dedicated to the “Invest Franklin 2” capital program (including a proposed partnership with the Tennessee Department of Transportation on Mack Hatcher), and 2.1¢ for enhanced city operations. The package also includes a proposal to raise the hotel occupancy tax from 4% to the 5% statutory maximum.

\"It's my honor and my responsibility to to report to you and recommend to you today the fiscal 26 budget,\" said Eric Stukin, staff member leading the presentation. Michael Walters Young, chief budget performance officer, framed the amendment and revenue picture that preceded the new budget proposal.

Why it matters: the plan uses the newly certified reappraisal — the staff said the city's assessed tax base rose to $10.75 billion from $7.6 billion — to create dedicated capacity for capital investment while preserving reserves and funding operational needs. Under the new valuation, staff said one penny of tax now generates about $1,050,000 (versus $750,000 under the prior appraisal), and the current certified equalized rate is 23.1¢.

Key revenue and spending items in the recommended FY26 budget include: an all‑funds total of $243.3 million with the general fund at $128.1 million (a 9.7% increase), continued reliance on sales tax (staff projects 2.6% growth in local sales tax for FY26), a proposed 1% increase in hotel occupancy tax (from 4% to 5%), and assumed water and sewer rate increases effective Jan. 1 (6% water, 5% sewer). Staff also proposed a base 2.5% general pay increase and performance pay of 0.5%–2.5%, plus an organizational compensation reset to move pay targets from the 75th percentile toward the 90th percentile of comparable local governments.

On staffing, the budget adds 10 new positions across funds: eight positions in the general fund (seven in public safety — three firefighters, three police patrol officers, one victim support counselor — plus an information systems developer), one sanitation route operator, and one fiscal affairs manager in Water Management.

On capital and project funding, the budget includes: a proposed transfer of $1.5 million to the stormwater fund to stabilize balances and fund a recommended street sweeper; $11 million in Road Impact Fund transfers to cash‑fund approved projects (including Jordan Road and East McEwen improvements); and a $3 million transfer for Bicentennial Park improvements. Staff described Invest Franklin 2 as a 10‑year capital program aiming to deliver roughly $500 million in improvements.

Staff noted the city's AAA ratings from Standard & Poor's and Moody's and emphasized reserve policy: a maintained minimum reserve of 33% of operating expenditures and a threshold (45%) above which funds can be used for pay‑as‑you‑go capital. \"This fully complies with your policies related to debt and related to fund reserves,\" Stukin said.

On the Mack Hatcher partnership, staff told the committee one of the two proposals (Southeast Mack Hatcher) already appears in TDOT's 10‑year plan; Northwest remains uncertain. Committee members and staff discussed using some of the dedicated Invest Franklin 2 capacity as early cash to accelerate design or right‑of‑way work so the city is ready if TDOT advances the project.

Process and next steps: staff told the committee first reading is scheduled for the board's May 27 meeting, a public hearing and second reading on June 10, and a final reading on June 24. Staff recommended preparing two ordinance options for the board to consider at first reading — the full 32¢ package and a smaller alternative — and the committee voted to forward the recommended budget and to ask staff to prepare both rate options for the board.

Committee reaction and fiscal context: aldermen praised the emphasis on public safety hires, the compensation reset and the city's cash funding of many capital projects. Some members urged guardrails on the Invest Franklin 2 component — for example, dedicating the 6.8¢ specifically to state partnership roadway projects — and asked staff to preserve clear accounting so any dedicated collections go to the stated transportation purpose or are held for cash funding of obligations.

Alderman comments also emphasized the distribution of revenue sources — staff reminded the committee that roughly 71% of the budget is consumption driven (sales and use taxes), which increases volatility and motivates higher reserve targets.

The committee voted to forward the FY26 budget recommendation to the full board and to request staff prepare written ordinance options reflecting the rate scenarios discussed.","City staff presented a balanced $243.3 million all‑funds budget for fiscal 2026 that would set a 32¢ per $100 assessed property tax rate (three components) to fund Invest Franklin 2 projects and operations, raise the hotel occupancy tax from 4% to 5%, add public‑safety positions, and advance a TDOT partnership for widening Mack Hatcher.","actionData","errors"]

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Committee approves mid‑year FY25 budget amendment; moves $1.5M to stormwater fund and recognizes battlefield grant

Franklin committee advances $243.3 million FY26 budget, proposes 32¢ property tax and 1% hotel tax increase