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Franklin Releases Proposed 2019-2020 Operating Budget
Franklin - City Administrator Eric Stuckey announced Tuesday, May 7th, the City’s proposed budget for Fiscal Year 2019-2020 (FY20).
The proposed FY20 general fund budget is $73,789,465, which represents a decrease of 0.7% compared to the current budget for 2018-19 (FY19). The FY20 budget for all funds is $160,838,175 which represents an increase 0.6% compared to FY19.
“While Franklin’s growth and unprecedented level of investment in our community is certainly positive, it does place undeniable challenges before us,” said City Administrator Eric Stuckey. “The City has responded with extensive long-term planning and significant investment in infrastructure to meet our growing community’s needs. Over the past five years, more than $170 million of infrastructure projects have been completed in Franklin, with nearly 85% being transportation-related improvements. Over the past year, the City of Franklin has completed major projects including the upgraded Water Treatment Plant, Hillsboro Road improvements, and activation of the countywide public safety radio system in partnership with Williamson County and the City of Brentwood.”
Three years ago, the Board of Mayor and Aldermen (BOMA) put Invest Franklin in place, which dedicated $0.10 of property tax to growth-related infrastructure/transportation investments ($0.07) and the increasing demands for core city services ($0.03). The Board identified a “first tier” of Invest Franklin projects that are now moving forward, totaling approximately $99 million in investment in roadway/transportation improvements (McEwen Phase 4, Franklin Road, sidewalk gaps, major street resurfacing); public safety needs (Fire Station 7 and countywide radio system upgrade); transit improvements (reducing wait times to 30 minutes for all Franklin Transit stops); and parks (development of a large community park in southeast Franklin). The Board is in the process of identifying and prioritizing a “second tier” of Invest Franklin projects to further meet community needs. The $133 million water reclamation/wastewater treatment plant expansion and upgrade project is under construction. As the City works in partnership with the State, important transportation projects totaling more than $100 million are now moving forward, including Mack Hatcher Northwest, along with improvements to Columbia Avenue; State Route 96 (Murfreesboro Road) on the City’s eastern border; and bridge improvements on Murfreesboro Road and Franklin Road.
“The City’s challenge is to welcome this incredible investment and interest in our community, along with the many opportunities it brings, while maintaining the qualities and community character that make Franklin a special place,” continues Stuckey. “To that end, through the leadership of the Board of Mayor and Aldermen, the commitment of our talented staff team, and an engaged citizenry, Franklin continues to focus on the future.”
Highlights of the 2019-20 Budget:
- The budget is balanced, with current revenues equaling expenditures.
- The budget fully complies with the Board of Mayor and Aldermen’s debt and fund reserve policies, significantly exceeding the reserve requirements.
- The City property tax remains unchanged at $0.4176 per $100 of assessed valuation. The Invest Franklin dedicated funding for infrastructure/transportation investment and support of City operations remains in place. The City of Franklin continues to maintain one of the lowest municipal property tax rates in the State of Tennessee.
- Overall, the budget has a net increase of 10 positions in the General Fund. These new positions are targeted in the areas of Engineering, Streets, Purchasing, Administration, Information Technologies, Parks, and Police, all of which have been impacted by growth and the City’s need to manage a larger group of infrastructure and facilities projects.
- A general pay increase for City team members will be effective the first pay period of July 2019. The budget includes a general pay increase of 2.5% plus an additional performance-based pay increase of up to an additional 2.5%.
- Health Insurance premiums for our City team members includes a 2.5% increase in premiums for the “traditional plan,” the first increase in two years. There is no increase in premiums for the City’s “high deductible” plan paired with a health savings account, an option that was initiated last year.
- Funding is provided for important investments in equipment replacements ($2.67 million), technology enhancements, and facility improvements.
- The budget incorporates performance measures and sustainability initiatives for every department. The connection to our Strategic Plan, FranklinForward, is clearly linked to performance measures and objectives throughout the budget, including insights from the recently completed citizen survey.
To read more about the proposed budget and see it in its entirety, go here www.franklintn.gov/FY2020Budget.
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