Franklin Regional board adopts $71.2 million general fund budget, keeps tax rate at 115.86 mills

The Franklin Regional School Board of Directors adopted its final 2025–26 general fund budget Monday night, approving $71,179,780 in expenditures and keeping the property tax rate at 115.86 mills.

Board action came after Business Office staff presented the final numbers and explained incremental changes since the May proposed budget. The approved budget lists $70,586,278 in projected revenues, with $147,000 drawn from a committed fund balance for technology projects and $446,502 from the unassigned fund balance to balance the year.

The board’s business officer said the district has not received final guidance from the state on education funding and does not expect a final state budget before mid‑summer, leaving some uncertainty about state aid. The officer told the board that expenditures decreased by about $70,186 since the proposed budget primarily because insurance quotes came in lower than expected, and that revenues rose slightly after the district’s final gaming allocation was confirmed.

Board members approved the budget by roll‑call vote. The board also adopted the annual Homestead and Farmstead exclusion resolution; the district said the exclusion amount for qualifying properties increased compared with the prior year.

The superintendent and board members framed the vote as a necessary step to allow the district to proceed with staffing, purchases and summer projects while awaiting any state funding adjustments. The board’s approval authorizes administration to implement the budget and pay routine bills between meetings under previously authorized bill‑paying resolutions.