Franklin Matters: Joint Budget Subcommittee Meeting starts discussion on Preliminary Fiscal Year 2025 (FY25) Budget Model

Sunday, March 3, 2024

Joint Budget Subcommittee Meeting starts discussion on Preliminary Fiscal Year 2025 (FY25) Budget Model - “We’re All in this Together”

Joint Budget Subcommittee Meeting

(Members of the Town Council, School Committee, and Finance Committee)

March 6, 2024 = 7:00 PM

Meeting will be held at the Franklin Municipal Building 355 East Central Street - 2nd floor, Council Chambers

Agenda

1. Town Administrator’s Preliminary FY25 Budget Model

a. Town Administration Memo
https://www.franklinma.gov/sites/g/files/vyhlif10036/f/uploads/joint_budget_subcommittee_memo_2.pdf
b. Committee Charge
https://www.franklinma.gov/sites/g/files/vyhlif10036/f/uploads/joint_budget_subcommittee_memo_2.pdf
c. FY25 Revenue & Control Sheet
https://www.franklinma.gov/sites/g/files/vyhlif10036/f/uploads/fy25_control_sheet_budget_model.pdf
d. February 13, 2024 School Committee Budget Discussion Slideshow
https://www.franklinma.gov/sites/g/files/vyhlif10036/f/uploads/feb_2024_school_committee_budget_update_0.pdf

Town Administrator Jamie Hellen writes:

"The Perfect Storm has arrived. In anticipation of the March 6th meeting, we have prepared a preliminary Fiscal Year 2025 (FY25) budget model based on the information we have to date. The deficit, established from initial assumptions in the budget model, is $10.095 million or just a hair under $10.1 million.

FY25 Budget Process Update
We have met with every department and received preliminary assessments from outside entities (Animal Control, MECC, CRPC District, Retirement Board, etc.) that are reflected in the town's budget.
We have included Governor Healey’s H1 budget numbers into the model which represents a $76,782 decrease in local aid, however we do not expect any substantial increases in local aid by the end of July. Although the legislative session ends July 31st, we expect the FY25 state budget will last deep into the summer, thus we should not expect an avalanche of additional state aid to arrive to solve any of these financial pressures. Furthermore, the Chapter 70 formula and how it relates to Franklin has been well documented and discussed for many years. We need to keep this in mind as we continue budget discussions.

In the coming weeks, line items will continue to be altered as new information becomes available through mid-April when our formal budget is released, tentatively scheduled for April 12, 2024. The Finance Committee budget hearings are May 6th (General Government, Culture & Recreation, Senior Center, Benefits, Debt/Interest, etc.), May 8th (Public Safety, Public Works, Inspections) and May 15th (Education). Town Council budget hearings are May 22nd and May 23rd.