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