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Council approves fund transfer to protect MVH balance for paving matches (resolution 26-03)
Summary
Franklin City Council approved resolution 26-03 to transfer funds from LRS and NVH restricted accounts to avoid using MVH gas-tax funds for Community Crossings matching this year, a move staff said preserves MVH for end-of-year needs.
The Franklin City Council approved a budgetary amendment, resolution 26-03, on May 18 to shift match funds for Community Crossings away from the city's MVH (gas-tax) account and instead use available LRS and NVH restricted funds.
Mayor (unnamed) and staff explained the change as a precautionary step after the city's MVH receipts showed tighter-than-expected balances; the transfer will preserve MVH so the city can meet paving obligations later in the year. The mayor said the city has sufficient LRS dollars to cover the match this year.
Council moved and approved resolution 26-03 by voice vote with no opposition recorded.
The amendment was presented as a one-time transfer to avoid spending anticipated MVH receipts; staff said they will review MVH balances at year-end and adjust future planning accordingly.
The resolution was approved and is effective immediately.
