Franklin City Administrator Eric Stuckey announced Tuesday, May 12 the City’s proposed budget for Fiscal Year 2015-2016. The proposed budget for all funds is $122,958,418, which represents an increase of 3.2% compared to the 2014-15 budget.
The proposed general fund budget is $59,886,344, which represents an increase of 6.7% compared to the current $56.1 million budget for 2014-15. This budget increase is primarily due to cost increases in the services we purchase and the funding of expanded services in the areas of public safety, streets (including city fleet), and parks, all of which were significantly impacted by growth. The proposed 2015-16 budget has returned to the funding levels of the budget adopted seven years ago for fiscal year 2008-09.
Highlights of the Proposed 2014-15 Budget
· The budget is balanced with current revenues equaling expenditures.
· The budget is in compliance with the Board of Mayor and Aldermen’s debt and fund reserve policies, significantly exceeding the reserve requirements.
· A targeted group of new positions are added in the budget. These positions are in areas such as Parks, Building and Neighborhood Services, Police, and Stormwater, which have been impacted by growth.
· The opening of a new fire station located in the Westhaven neighborhood will occur during the fiscal year. The budget includes the first full year of funding for 12 new firefighter positions. Operational expenses for interim Fire Station 7 are also included in the budget.
· Public safety investments include the replacement of self-contained breathing apparatus (SCBA) throughout the Fire Department and provision of body cameras for 110 police officers.
· The Police Department and City Court will implement an electronic ticketing system to streamline the City’s ticketing process.
· Franklin Parks initiatives include staffing to support added facilities at the Park at Harlinsdale Farm, the establishment of the Carter Hill Battlefield Park, and the establishment of a full-time tree maintenance crew.
· A general salary increase of 2% effective July 3, 2015, is provided for employees, plus $125,000 for funding of the merit pay program.
· The classification and compensation plan implemented over the past two years was reviewed as part of the budget process. Overall, the plan remains competitive with the labor market. A small, targeted group of positions have been identified for review and reclassification to reflect changes in market conditions.
· The Franklin City property tax remains unchanged at $0.4065 per $100 of assessed valuation. Three cents of this rate is earmarked for additional neighborhood street surfacing and capital investment project funding.
· The proposed budget for Franklin incorporates performance measures and sustainability initiatives for every department. The connection to the City’s Strategic Plan, FranklinForward, is clearly linked to performance measures and objectives throughout the budget.
The complete proposed budget can be found on the City Web site at www.franklintn.gov .
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