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Franklin amends fiscal 2024–25 budget to add $603,573 in revenue and reallocate spending
Summary
City staff presented and the board approved Ordinance 2024-48, a second fiscal-year budget amendment that increases revenues by $603,573 and reassigns funds for software, a military service payout, equipment and land purchase accounting.
The Board of Mayor and Aldermen unanimously approved Ordinance 2024-48 on Jan. 14, the second budget amendment for fiscal 2024–25.
Michael Walters Young, chief budget performance officer, told the board revenues are $603,573 higher than expected, driven in part by higher sales-tax receipts and one-time receipts. The amendment matches those revenues with $603,573 in additional expenses across several funds, he said.
Key changes cited by staff include $367,000 for software purchases and replacements; $197,006 to implement a one-time payment under the city’s TCRs military-service resolution (Resolution 2024-68) that expands eligible conflict periods; $38,000 for contract cleanup and a new recruitment website for police and fire. The hotel/motel fund increased by $3,000,000 to complete land acquisition near Roper’s Knob and Battlefield Park, bringing total hotel/motel funding for that purchase to $4,000,000. Staff said the net change in the general fund is zero.
The ordinance passed unanimously. Michael Walters Young said staff anticipates at least one more amendment before the fiscal year ends in May.
