Boston Globe: "The MIAA’s revenue from state tournaments has been dropping steadily over the last several years."

"A downhill ski run best resembles the trend of the Massachusetts Interscholastic Athletic Association’s net revenues for its tournaments over the past four years.

Massachusetts Interscholastic
Athletic Association (MIAA)

Dipping a total of 70 percent from $737,040 in fiscal year 2022 to a little less than $218,000 in 2025, the economics of the statewide tournament system implemented by the MIAA five years ago are not adding up.

“Certainly I’m not an alarmist to say that I have a huge level of concern. We have a reality that you can’t just keep slipping down to zero,” MIAA executive director Bob Baldwin said.

Administrative costs have climbed more than 50 percent over the four years while revenues from the fall, winter, and spring tournaments combined have dropped more than 20 percent."

Continue reading the article via the  'shared link'

https://www.bostonglobe.com/2026/03/03/sports/miaa-state-tournament-revenue/?s_campaign=sharetool_copypaste_view

Town Administrator Memorandum: FY27 Budget Model Revision & Revised Five-Year Fiscal Forecast

 February 6, 2026

To: Town Council

From: Jamie Hellen, Town Administrator

RE: FY27 Budget Model Revision & Revised Five-Year Fiscal Forecast

Attached is the latest draft FY27 budget model, which presents a balanced budget model. All budget documents will be uploaded to the one stop shop town budget website.

Staff have provided a revised FY27 budget model and forecasts from the August 2025 version:

• Town Administrator Memorandum;
• Revised FY27 Control Sheet and Budget;
• Five-Year Fiscal forecast to reflect the proposed baseline FY27 budget.

Executive Analysis

I present a balanced budget model for FY27. This model provides updated revenue assumptions, the requested budget model by the Superintendent, and all department requests, including the restoration of some lost municipal services. Highlights are detailed below.

FY27 Budget Model Revision

The elected officials, town boards/committees and community stakeholders need to begin to strategize a sustainable solution to the structural budget deficit for FY28 and beyond, while analyzing the pros and cons of the decisions that will have to be made in FY27. This model will continue to shift slightly throughout the budget process, but is a very strong foundation going into the FY27 budget season. The model presented tonight will largely mirror my budget submittal as my formal budget proposal under Town Charter requirements in 6-3-1, 6-4-1, and 6-5-1. See dates below.

I have provided a model to give everyone time to strategize a game plan for the future without any department cuts or conversations about property tax increases in FY27. Given the context of two failed overrides within the past 18 months, the proposal tonight does not show the need for a general override or any other tax increase that affects the operating budget.

While the use of one-time funds is far from ideal, I can realistically expect that the town can use $1-2 +/- million a year in free cash in a short term (1-2 years) manner, while a sustainable strategy is decided by the Town Council, School Committee and the community. However, this approach will have an impact on the town and school capital program for FY26 and gets us further behind for future investments to town and school fleet, capital, facilities, fields, and infrastructure.

The model does not impede on Tier 1 capital requests, which were recommended for approval by the Finance Committee. Tier 1 requests are focused on items that were broken and needed to be fixed/replaced, as well as investments in safety gear and technology for police and fire. My recommendation is to hold off on any additional capital funding considerations that have not been recommended by the Finance Committee until after the operating budget is finalized. Any remaining free cash can pay health group deficits or provide additional capital allocations.

Health Care Transition

I have assumed a 14% increase for all school and town employee health care employees based on current enrollment. Group Insurance Commission (GIC) rates and plan design are set in mid-March. Open enrollment is in April. Staff will have definite health care numbers by approximately Memorial Day. The actual data could be under the assumption, or we could be over. We could have surpluses, or deficits, from our existing self-insured health group as we exit that system. Once health care numbers are in, staff can modify a final budget (the weeks of May 25 and June 1st) with a final FY27 budget vote expected on June 10th.

While the budget assumes $8,814,000 million transfer in benefits ($7,980,000 employee health care and $834,000 in Medicare) costs from the schools to the town benefits budget, it is my intention to transfer the figure based on actual subscriber data (as well as assumptions of any future changes in that figure through October 1st, 2026 when school hiring has been largely completed). This number is almost certainly going to shift and we will work with the schools on these assumptions.

Franklin Public Schools - Account 300

This budget model assumes the Superintendent's recommended budget, as presented to the School Committee over the past few weeks. I have provided an Account 300 chart at the bottom of this memo to show the history of requests versus allocations over the past decade.

I give significant credit to Chair Paul Griffith, Vice-Chair Callaghan, Superintendent Giguere, and the former and current School Committees for doing the very challenging work toward stabilizing the School budget over the past two years. Through disciplined collective bargaining strategy, thorough review of operations, many very difficult decisions and public discussions, a long overdue redistricting and a District Improvement Plan (DIP), I feel the Schools are in the most stabilized financial position in my tenure in Franklin. While strategic investments are desired and a game plan is needed for both capital and operating, the District is on a solid foundation for FY27.

Furthermore, the School Committee unanimously voted this past week to transfer school benefits to the municipal budget account 910. I greatly appreciate the collaboration!

Student achievement is excellent and very competitive in Eastern Massachusetts. For High Schools over 1,400 students, Franklin ranks among the best Top 20 high schools in Eastern Massachusetts and is mentioned in the same class as some of the most desired large districts. Franklin is providing an excellent education to students across all grade levels, including multiple Blue Ribbon winning elementary schools, while providing consistently championship level athletics and an overall great experience for kids to thrive and excel.

Continue reading the memorandum - https://ma-franklin.civicplus.com/DocumentCenter/View/8319/11a-1---MEMO---FY27-Budget-Update---List-of-Changes

Town Administrator Fiscal Year 2026 (FY26) Budget - Revenue & Expense Assumptions

The first part of the Executive Summary was shared on Monday. This section layouts the revenue and expense assumptions driving the budget as presented.

 

Town Administrator Fiscal Year 2026 (FY26) Budget

 

Here are the assumptions incorporated into the FY26 budget:

Revenues Highlights

●    The proposed FY26 budget does not include any revenues from the Budget Stabilization “Rainy Day'' Fund. The fund currently has a balance of $3,310,416. It is vital for the Town to continue to maintain and grow/stabilize the Rainy Day Fund rather than deplete it. Budget Stabilization reserves set the town up to be prepared in the event of an emergency, but equally as important, these reserves illustrate to bond rating agencies and financial institutions sound financial policy and execution. Well founded financial annual audits, an effective OPEB policy, passage of the Community Preservation Act, the implementation of a stormwater utility and increasing emergency reserves put the town in a healthy financial position to maintain a stable AAA bond rating and quell interest rates in an era of record high inflation.

●    The Property Tax Levy and “New Growth” revenue forecast will decrease a cumulative $71,097 from FY25. Traditionally, the Town has used a ten-year average model for the new growth figure. However, the Town’s New Growth has plateaued and is now at the decreasing end of the arc from the front end of the pandemic years.

●    State Aid is assumed at the Governor’s FY26 budget levels. Currently, the Town stands to realize a net increase of $493,534 in local aid from FY25. A final state budget is expected to be complete in July and we will readjust the final local aid numbers at the November budget hearing .

●    The Town’s Local Receipts look to rebound past pre-pandemic numbers, while also recognizing that hotel tax revenue and cannabis excise sales taxes are both now in this revenue category. Staff assume an additional $1,681,052 in local receipts over FY25. The preliminary budget model was level service, but in evaluating the forecast, we believe FY26 will show an uptick due to several additional factors. A majority of local receipts are fees collected for Town services (e.g. licensing, building permits, ambulance receipts, recreation fees). Motor vehicle excise tax is slightly less than half of the revenue.

Expenditures Highlights

The main cost drivers in this budget are:

●    The budget includes a 2.5% Cost of Living Adjustment (COLA) for all municipal personnel, including collective bargaining agreement commitments, which amounts to $610,000. School salaries are located in the school budget in Appendix B.

●    The Benefits Budget (910) increased by $1,817,961 (almost 12%) from FY25 to FY26. The Benefits Budget has a number of different line items, including health insurance for active Town employees and retirees and School retirees as well as Worker’s Compensation and Unemployment Compensation for both the Town and the Schools.

○    Our original health insurance quote for our active employees and retirees under age 65 came in with an 18.3% increase. We worked closely with the Massachusetts Strategic Health Group and our Insurance Advisory Committee (IAC) this spring and made changes to bring the premium down. One of the changes included increasing the deductible on the High Deductible Health Plan (HDHP). These changes brought the increase down to 14.5% on the EPO and PPO plans and only 11% on the HDHP. These percentages are very competitive in the current municipal health insurance market, as we saw many Towns experience increases ranging from 10% to as high as 30%. For additional information, please see the narrative for the Benefits Budget.

The Benefits Budget has a number of different health insurance lines which have increased a total of $1,066,000 over FY25.

○    The Norfolk County Retirement Assessment continues to increase each year at greater than a 7% increase. State law requires the pension system to be fully funded by 2040, which may change. However, we expect over 10% annual increases in pension assessments in future years.

●    The Franklin Public School District will see an increase in their budget of $2,925,148 over FY25, Further analysis is in the Future Trends section below. 

 

 * denotes the two pandemic impacted budget years (does not include federal stimulus funds)
** denotes a use of $1.8 million in Budget Stabilization funds in FY19; one-time free cash in FY25
*** assumes a successful override on June 3, 2025.

Future Trends

The constant pressure on local government to fund all of the work that needs to get done is continuing to be unsustainable. The Massachusetts Municipal Association continues to advocate for greater investment in infrastructure from the state and to relieve the many unfunded mandates the state is placing on local governments. Staff also work closely with our state and federal legislative delegation who have always been responsive to the town's financial needs. Regardless, there is only so much supply for the demand, which has strained local services and budgets across Massachusetts.

The federal budget looms large and will likely have an impact on FY27, but more likely a significant impact on FY28 for Franklin. Approximately $15-16 billion of the state's budget is based on the federal budget. If federal uncertainty affects the state budget, it will inevitably put pressure on the Town’s budget. We will need to keep these realities front and center in FY26 and beyond. The current federal budget is funded through September 30, 2025.

Throughout the summer and early fall, the major federal discussion will likely be around the federal budget going into next fiscal year. For local and state governments, FY26 will already be one-quarter of the way through before federal budget deliberations are concluded.

I would expect a five-year fiscal forecast to be available as we head into the fall, after the state budget is finalized, and we have better information on the federal budget. The federal budget year begins October 1, 2025.

Major cost or policy decisions heading into FY27 and beyond, include:

●    Federal austerity and the uncertain financial impacts on the state budget that trickles down to local budgets from federal budget cuts.

●    Continued health care cost increases in a state where 15% annual increases are now the norm.

●    Norfolk County Pension assessments anticipate a 10% increase annually in future years.

●    Affordability of the community. Housing and cost of living expenses are a major concern for many residents in Franklin.

 

------------

 

The Executive Summary can be found ->   https://www.franklinma.gov/DocumentCenter/View/5322/FY26-Budget-Narrative

Sections of the Summary will continue to be shared in advance of the Finance Committee budget hearings scheduled for April 28, April 29, and May 1.

The FY 2026 budget page -> https://www.franklinma.gov/Archive.aspx?ADID=500

The FY 2026 Override info for the June 3 vote -> https://ma-franklin.civicplus.com/1089/Fiscal-Year-2026-Override-Information

Inside the trade deficit, what it really means (video)

The first 8 minutes of this is enough to get the gist .... great explanation comparing to credit card transactions

 

Video link -> https://www.youtube.com/watch?v=r5ojbEIX8Nw

"Renowned economist Jeffrey Sachs tore into Donald Trump’s latest tariff threats, branding them “Mickey Mouse economics” and accusing the former president of unleashing chaos on global markets.

In a scathing take down, Sachs said Trump’s trade logic was so flawed that “he wouldn’t pass a basic econ class,” slamming the former president’s obsession with trade deficits as “childish and dangerous.” Sachs blamed Trump’s economic policies for triggering a $10 trillion loss in global wealth, warning that the U.S. is now flirting with authoritarianism under “one-man rule by emergency decree.”

Dismissing Trump’s talk of foreign nations “cheating” the U.S., Sachs countered: “It’s not a trade issue—it’s a spending problem.” The blistering critique comes amid rising fears that Trump’s return to power could reignite economic instability worldwide."