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Finance committee weighs $8M—$10M borrowing to cover roads, utilities and aging equipment
Summary
The Franklin City finance committee reviewed a borrowing plan that would fund street reconstructions, water/sewer relays, equipment replacement and fire-station work and examined Ehlers' projections showing a levy increase peaking around 2030 under several scenarios.
The finance committee met to weigh whether Franklin should borrow between $8 million and $10 million for capital projects and equipment, and it heard detailed levy-impact scenarios showing short-term increases and longer-term tapering.
Finance director (S2) said auditors completed initial fieldwork, staff compiled roughly 92 outstanding AIE portal requests for the auditors, and then walked the committee through Ehlers' modeling of borrowing $8 million, $9 million or $10 million over 10-, 15- and 20-year terms. S2 said the models show a material…
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