Thursday, April 16, 2009

over-reliance on state aid "sounds like a ticking time bomb,"

Milford Daily News
Posted Apr 16, 2009 @ 01:34 AM


After 10 months of meeting, researching, and creating a five-year financial outlook, the long-range financial planning committee presented its report to Town Council last night, cautioning Franklin's finances will keep spiraling into the red if all remains status quo.

In his presentation, Vice Chairman Doug Hardesty, a resident and auditor by profession, also warned that Franklin is teetering on non-compliance status with the state in regard to net school spending. The town is on track to fall below the warning level - defined as 5 percent above the minimum - next year, which means the state will intervene and force Franklin to give more money to schools.

Read the full article in the Milford Daily News here

Read the live reporting from the Town Council meeting here

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