Franklin, MA: Agenda for Town Council Meeting June 4, 2025 - FY 2026 Budget Vote (Updated agenda)

Franklin Town Council

Agenda & Meeting Packet

June 4, 2025 - 7:00 PM

Meeting will be held at the Municipal Building

2nd floor, Council Chambers 355 East Central Street 

1. ANNOUNCEMENTS FROM THE CHAIR

a. This meeting is being recorded by Franklin TV and shown on Comcast channel 9 and Verizon Channel 29. This meeting may be recorded by others

b. Chair to identify members participating remotely

c. Upcoming Town Sponsored Community Events

2. CITIZEN COMMENTS

a. Citizens are welcome to express their views for up to three minutes on a matter that is not on the agenda. In compliance with G.L. Chapter 30A, Section 20 et seq, the Open Meeting Law, the Council cannot engage in a dialogue or comment on a matter raised during Citizen Comments. The Town Council may ask the Town Administrator to review the matter. Nothing herein shall prevent the Town Administrator from correcting a misstatement of fact.

3. APPROVAL OF MINUTES

a. May 7, 2025

b. May 21, 2025

4. PROCLAMATIONS / RECOGNITIONS - None Scheduled

5. APPOINTMENTS - None Scheduled

 

6. PUBLIC HEARINGS - 7:00 PM

a. FY26 Town Council Annual Operating Budget Hearing - Continued from May 22, 2025

i. FY26 Voting Document  

https://ma-franklin.civicplus.com/DocumentCenter/View/5850/9a-1----25-20---Adoption-of-FY26-Budget---Google-Docs

ii. FY26 Town Administrator Budget Message (per Town Charter Section 6-4-1)  

https://ma-franklin.civicplus.com/DocumentCenter/View/5322/FY26-Budget-Narrative

iii. Appendix A Town Administrator Recommended Budget Voting Document & Budget Book (per Town Charter provision 6-5-1 & 6-5-2)  

https://www.franklinma.gov/DocumentCenter/View/5246/Appendix-A-Town-Administrator-Recommended-Voting-Document-and-Budget-Book

iv. Appendix B Franklin Public School District Budget Book  

https://core-docs.s3.us-east-1.amazonaws.com/documents/asset/uploaded_file/4780/FPSD/5269967/-FY26_Franklin_Budget_Book_.docx_-_Google_Docs_1_.pdf

FY 2026 Budget Vote

7. LICENSE TRANSACTIONS - None Scheduled

8. PRESENTATIONS / DISCUSSION - None Scheduled

9. LEGISLATION FOR ACTION

a. Resolution 25-20 Adoption of the FY2026 Budget Appropriations - Budget Vote (Motion to Approve Resolution 25-20 - Majority Vote)  https://ma-franklin.civicplus.com/DocumentCenter/View/5851/9a-1----25-20---Adoption-of-FY26-Budget---MEMO

b. Resolution 25-21: Salary Schedule: Full-Time Elected Official (Town Clerk)

(Motion to Approve Resolution 25-21 - Majority Vote)  https://ma-franklin.civicplus.com/DocumentCenter/View/5844/9b-25-21_-Salary-Schedule_-Full-Time-Elected-Official-Town-Clerk

c. Bylaw Amendment 25-936: A Bylaw to Amend the Code of the Town of Franklin at Chapter 73, Departmental Revolving Funds (EV Charging Stations) - First Reading (Motion to Move Bylaw Amendment 25-936 to a Second Reading - Majority Vote)   https://ma-franklin.civicplus.com/DocumentCenter/View/5845/9c-25-936-and-937---EV-Charging-Stations

d. Bylaw Amendment 25–937: A Bylaw to Amend the Code of the Town of Franklin at Chapter 82, Fees, Municipal Service (EV Charging Stations)

(Motion to Move Bylaw Amendment 25-937 to a Second Reading - Majority Vote)  

https://ma-franklin.civicplus.com/DocumentCenter/View/5846/9d-BYLAW-AMENDMENT-25-937---Ch-82-Fees---EV-Charging-Stations

e. Resolution 25-23: Snow and Ice Transfer of Funds (Motion to Approve Resolution 25-23 - Majority Vote)  https://ma-franklin.civicplus.com/DocumentCenter/View/5855/9e-Snow

f. Resolution 25-35: Appropriation of Funds from Receipts Reserved to Road Repairs (Motion to Approve Resolution 25-35 - Majority Vote)  https://ma-franklin.civicplus.com/DocumentCenter/View/5856/9F-25-935-TNC-Ride-Share

g. Resolution 25-25: Community Preservation Fund: FY26 Annual Appropriations and Reservations (Motion to Approve Resolution 25-25 - Majority Vote)  https://ma-franklin.civicplus.com/DocumentCenter/View/5857/9g-CPA-Budget-FY26

h. Resolution 25-26: FY26 Community Preservation Appropriation of Funds - Capital (Motion to Approve Resolution 25-26 - Majority Vote)  https://ma-franklin.civicplus.com/DocumentCenter/View/5858/9h-1---RESOLUTION-25-26---CPA-Projects

i. Resolution 25-24: Transfer of Funds from Water Enterprise Fund Retained Earnings to Water Line Project (Motion to Approve Resolution 25-24 Majority Vote) https://ma-franklin.civicplus.com/DocumentCenter/View/5859/9i-Water-Enterprise

j. Resolution 25-34: Appropriation of Funds from Receipts Reserved for PFAS Remediation (Motion to Approve Resolution 25-34 Majority Vote)  https://ma-franklin.civicplus.com/DocumentCenter/View/5860/9j-2---PFAS

k. Zoning Bylaw Amendment 25-935: A Zoning Bylaw Amendment to the Code of the Town of Franklin at Chapter 185, Section 24, Floodplain District - Second Reading (Motion to Approve Zoning Bylaw Amendment 25-935 - ⅔ Roll Call Majority Vote)   https://ma-franklin.civicplus.com/DocumentCenter/View/5861/9k-Flood-plain

l. Resolution 25-32: Cable Funds in Support of PEG Service and Programming per MGL Ch. 44 §53F3/4 (Motion to Approve Resolution 25-32 - Majority Vote)  https://ma-franklin.civicplus.com/DocumentCenter/View/5840/9m---25-32---PEG-Comcast-and-Verizon

m. Resolution 25-33: Acceptance of Gifts - Senior Center ($1,510)

(Motion to Approve Resolution 25-33 - Majority Vote)  https://ma-franklin.civicplus.com/DocumentCenter/View/5842/9n-25-33---Gift-Acceptance---Sr-Ctr

n. Resolution 25-22: Expenditure Limits for FY2026 on Departmental Revolving Funds Established by Franklin Town Code Chapter 73, as Provided in MGL Chapter 44, Section 53E½, as Amended (Motion to Approve Resolution 25-22 - Majority Vote)  https://ma-franklin.civicplus.com/DocumentCenter/View/5873/9n-25-22-Expenditure-Limits

10. TOWN ADMINISTRATORS REPORT

11. SUBCOMMITTEE & AD HOC COMMITTEE REPORTS

a. Capital Budget Subcommittee

b. Economic Development Subcommittee

c. Joint Budget Subcommittee

d. Police Station Building Committee

e. GATRA Advisory Board

12. FUTURE AGENDA ITEMS

 

13. COUNCIL COMMENTS

14. EXECUTIVE SESSION - None Scheduled

15. ADJOURN

Note: Two-Thirds Vote: requires 6 votes

Majority Vote: requires majority of members present and voting

The agenda doc also contains remote participation info ->

https://www.franklinma.gov/AgendaCenter/ViewFile/Agenda/_06042025-1769

Franklin, MA: Agenda for Town Council Meeting June 4, 2025 - FY 2026 Budget Vote

Franklin Town Council

Agenda & Meeting Packet

June 4, 2025 - 7:00 PM

Meeting will be held at the Municipal Building

2nd floor, Council Chambers 355 East Central Street 

1. ANNOUNCEMENTS FROM THE CHAIR

a. This meeting is being recorded by Franklin TV and shown on Comcast channel 9 and Verizon Channel 29. This meeting may be recorded by others

b. Chair to identify members participating remotely

c. Upcoming Town Sponsored Community Events

2. CITIZEN COMMENTS

a. Citizens are welcome to express their views for up to three minutes on a matter that is not on the agenda. In compliance with G.L. Chapter 30A, Section 20 et seq, the Open Meeting Law, the Council cannot engage in a dialogue or comment on a matter raised during Citizen Comments. The Town Council may ask the Town Administrator to review the matter. Nothing herein shall prevent the Town Administrator from correcting a misstatement of fact.

3. APPROVAL OF MINUTES

a. May 7, 2025

b. May 21, 2025

4. PROCLAMATIONS / RECOGNITIONS - None Scheduled

5. APPOINTMENTS - None Scheduled

 

6. PUBLIC HEARINGS - 7:00 PM

a. FY26 Town Council Annual Operating Budget Hearing - Continued from May 22, 2025

i. FY26 Voting Document

ii. FY26 Town Administrator Budget Message (per Town Charter Section 6-4-1)

iii. Appendix A Town Administrator Recommended Budget Voting Document & Budget Book (per Town Charter provision 6-5-1 & 6-5-2)

iv. Appendix B Franklin Public School District Budget Book

FY 2026 Budget Vote

7. LICENSE TRANSACTIONS - None Scheduled

8. PRESENTATIONS / DISCUSSION - None Scheduled

9. LEGISLATION FOR ACTION

a. Resolution 25-20 Adoption of the FY2026 Budget Appropriations - Budget Vote (Motion to Approve Resolution 25-20 - Majority Vote)

b. Resolution 25-21: Salary Schedule: Full-Time Elected Official (Town Clerk)

(Motion to Approve Resolution 25-21 - Majority Vote)

c. Bylaw Amendment 25-936: A Bylaw to Amend the Code of the Town of Franklin at Chapter 73, Departmental Revolving Funds (EV Charging Stations) - First Reading (Motion to Move Bylaw Amendment 25-936 to a Second Reading - Majority Vote)

d. Bylaw Amendment 25–937: A Bylaw to Amend the Code of the Town of Franklin at Chapter 82, Fees, Municipal Service (EV Charging Stations)

(Motion to Move Bylaw Amendment 25-937 to a Second Reading - Majority Vote)

e. Resolution 25-23: Snow and Ice Transfer of Funds (Motion to Approve Resolution 25-23 - Majority Vote)

f. Resolution 25-35: Appropriation of Funds from Receipts Reserved to Road Repairs (Motion to Approve Resolution 25-35 - Majority Vote)

g. Resolution 25-25: Community Preservation Fund: FY26 Annual Appropriations and Reservations (Motion to Approve Resolution 25-25 - Majority Vote)

h. Resolution 25-26: FY26 Community Preservation Appropriation of Funds - Capital (Motion to Approve Resolution 25-26 - Majority Vote)

i. Resolution 25-24: Transfer of Funds from Water Enterprise Fund Retained Earnings to Water Line Project (Motion to Approve Resolution 25-24 Majority Vote)

j. Resolution 25-34: Appropriation of Funds from Receipts Reserved for PFAS Remediation (Motion to Approve Resolution 25-34 Majority Vote)

k. Zoning Bylaw Amendment 25-935: A Zoning Bylaw Amendment to the Code of the Town of Franklin at Chapter 185, Section 24, Floodplain District - Second Reading (Motion to Approve Zoning Bylaw Amendment 25-935 - ⅔ Roll Call Majority Vote)

l. Resolution 25-32: Cable Funds in Support of PEG Service and Programming per MGL Ch. 44 §53F3/4 (Motion to Approve Resolution 25-32 - Majority Vote)

m. Resolution 25-33: Acceptance of Gifts - Senior Center ($1,510)

(Motion to Approve Resolution 25-33 - Majority Vote)

10. TOWN ADMINISTRATORS REPORT

11. SUBCOMMITTEE & AD HOC COMMITTEE REPORTS

a. Capital Budget Subcommittee

b. Economic Development Subcommittee

c. Joint Budget Subcommittee

d. Police Station Building Committee

e. GATRA Advisory Board

12. FUTURE AGENDA ITEMS

 

13. COUNCIL COMMENTS

14. EXECUTIVE SESSION - None Scheduled

15. ADJOURN

Note: Two-Thirds Vote: requires 6 votes

Majority Vote: requires majority of members present and voting

This Chalkboard Chat condenses the School Cmte Mtg of May 27 (audio)

FM #1459 = This is the Franklin Matters radio show, number 1459 in the series. 

This session shares my conversation with School Committee Chairperson Dave Callaghan. This is a new episode of our continuing “Chalkboard Chat” series. We had our discussion in person on Wednesday, May 28, 2025. We had the opportunity to recap the School Committee meeting of May 27, 2025. 

 

We cover 

• MICCA award recognitions

• Biliteracy certificate recognitions

• School personnel retiree recognitions

• District Improvement Plan/School Improvement Plan updates

• Override discussion, vote June 3; any questions, please reach out to find out

The recording runs about 42 minutes, so let’s listen in. Audio link -> https://franklin-ma-matters.captivate.fm/episode/fm-1459-chalkboard-chat-05-28-25/

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Contact info for Dave Callaghan -> callaghand@franklinps.net   

Franklin TV video is available for replay -> https://www.youtube.com/watch?v=zBa7M7YI4A4 

The agenda doc -> https://ma-franklin.civicplus.com/AgendaCenter/ViewFile/Agenda/_05272025-1761 

The meeting folder where other docs will be posted after the meeting ->

https://www.franklinps.net/documents/departments/school-committee/meeting-packets/2024---25-meeting-packets/may-27%2C-2025-sc-meeting-packet/806450 

Retiree recognition -> https://photos.app.goo.gl/fLJf4boDFr6S9MvE7 

Civics Project presentation -> https://photos.app.goo.gl/oAh2AdNrLoE1Exu89 

DIP/SIP presentation -> https://photos.app.goo.gl/6ipuwvmfph7khgNF8 

My full set of notes in one PDF ->  https://drive.google.com/file/d/1CMp9pP040uUMF-aEHLahg3-LSN3ErBDV/view?usp=drive_link 

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

We are now producing this in collaboration with Franklin.TV and Franklin Public Radio (wfpr.fm) or 102.9 on the Franklin area radio dial. 

This podcast is my public service effort for Franklin but we can't do it alone. We can always use your help.

How can you help?

• If you can use the information that you find here, please tell your friends and neighbors

• If you don't like something here, please let me know

• And if you have interest in reporting on meetings or events, please reach out. We’ll share, and show you what, and how we do what we do

Through this feedback loop we can continue to make improvements. I thank you for listening.

For additional information, please visit Franklinmatters.org/  or www.franklin.news 

If you have questions or comments you can reach me directly at shersteve @ gmail dot com

The music for the intro and exit was provided by Michael Clark and the group "East of Shirley". The piece is titled "Ernesto, manana"  c. Michael Clark & Tintype Tunes, 2008 and used with their permission.

I hope you enjoy!

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

You can also subscribe and listen to Franklin Matters audio on iTunes or your favorite podcast app; search in "podcasts" for "Franklin Matters"

This Chalkboard Chat condenses the School Cmte Mtg of May 27 (audio)

Frequently Asked Questions: FY 2026 Override -> Questions 37 - 40

Frequently Asked Questions - shared from the Town of Franklin FY 2026 Override Information page. There are 40 and a form to ask another question if it is not already listed there -> https://ma-franklin.civicplus.com/Faq.aspx?TID=41

37. Were other, lower override amounts considered? 

A $6.8 million dollar override was considered last year and did not pass. This lower amount of $3,862,672 keeps the budget at level service and came from the Joint Budget Subcommittee listening sessions discussions.  The Town Council decided to give residents the opportunity to vote on an override budget that would maintain level services across all departments.

38. When and how often has Franklin passed overrides? 

Franklin last approved an override in Fiscal Year 2008 in the amount of $2,700,000. The Town put override ballot questions before the voters in 1991, 1997, 2005, and 2025 and none of them passed. Please find historic ballot question information on the DLS website.

39. The ballot question requests to access additional real estate and personal property taxes. What personal property taxes are being considered? 

Each year municipal Assessors assess personal property taxes on all taxable personal property within each community. Personal property includes merchandise, furniture, machinery, equipment, etc. but there are a number of exemptions. Please note that Personal Property in your domicile is Exempt; also note that Registered Motor Vehicles are not included in Personal Property, but are subject to a separate Motor Vehicle Excise Tax.  For more information, please see Personal Property Taxation FAQs.

A successful override will be added to the total tax levy to be borne by all taxable real and personal property.  In FY 2025, the valuation and therefore the tax percent portions are as follows as shown on our MA DOR Tax Rate Recapitulation sheet:

Property Class

Residential                  81.0280

Commercial                   6.5317

Industrial                        9.3477

Personal                        3.0926

(business assets)

Total                           100.0000

40. What impacts do proposed development have on the Town's operating budget? 

Residential, commercial and industrial development can increase the tax base, leading to more revenue in the town operating budget. However, this revenue may not be “received” within the tax base for weeks or months up to a year. It is not in the form of a payment, but rather through the valuation of the assessed properties. Each individual development, or parcel improvement, made to a property (such as a redevelopment), is unique and is assessed on an individual parcel basis. Any current, proposed, or permitted development will not help the overall FY 2026 budget deficit.  Only the additional qualifying physical improvements in place since July 1, 2024 through June 30, 2025 may contribute to the tax levy base, and the annual estimate of this amount has already been factored into the FY 2026 budget work.

In accordance with the provisions of Proposition 2 ½ Massachusetts uses a mechanism called "New Growth" to account for the increased tax revenue from new construction, qualifying renovations (not repairs), and added personal property (taxable business assets) which are then added to the annual tax levy. The Town is required to have the MA DOR certify its New Growth and its full valuation annually prior to setting the Tax Rate.  New development can lead to higher property valuations, resulting in more tax revenue for municipalities, however, market level value changes do not contribute to growth. Municipalities do add the increase in tax revenue due to New Growth to their Tax Levy Limit, effectively increasing the amount they can collect in taxes. While new development can provide a much-needed boost to municipal revenue, it's crucial to carefully manage the associated costs and ensure that municipalities can effectively meet the needs of any population growth. The time to define the estimated valuation, estimated tax levy revenue and potential costs to the town (schools, infrastructure, public safety, etc.) of a proposed development is during the project’s public hearing process.

Oftentimes, a developer is required to compensate the town in the form of mitigation to address impacts of the project.  The Town may have revenue from those conditions, but these monies are not included in the town operating budget. The Town Planning Board, Zoning Board of Appeals, and Conservation Commission all work with applicants on project mitigation during the public hearing process and these monies are spent under strict restrictions through a special revenue account.

Typically, during a permitting hearing for a project, a proponent may have estimated information on project revenue generation or costs to the town (schools, infrastructure, etc). However, a community never actually knows what the project valuation, revenue or costs are going to be until reality occurs. Market forces play a significant role. Furthermore, a project may be permitted, but may not actually break ground for years, experience delays, or the project may be phased in over several years, or even decades. Hence, the revenue from a project does not materialize until there is work in progress, “occupancy” and/or by discovery during state-mandated assessor property evaluations.  Some development may not get captured for several years depending on the circumstances.

The Assessors’ Office can be reached through their FranklinMA.gov website for more detailed information. The Board Members or the Staff would be happy to discuss property assessment.  They may be contacted by assessors@franklinma.gov email and/or by phone (508-520-4920) during normal business hours.

Additional info can be found on the Town FY 2026 Override page ->    https://www.franklinma.gov/1089/Fiscal-Year-2026-Override-Information

Frequently Asked Questions: FY 2026 Override

Frequently Asked Questions: FY 2026 Override -> Questions 33 - 36

Frequently Asked Questions - shared from the Town of Franklin FY 2026 Override Information page. There are 40 and a form to ask another question if it is not already listed there -> https://ma-franklin.civicplus.com/Faq.aspx?TID=41

33. What is a bond rating? How does that impact the town?

A bond rating is a credit rating; it determines the interest rate the Town pays when it borrows money for various projects. The stronger the bond rating the lower interest rate the Town pays (just like your own credit rating). The difference between the top rating which is our current rating (AAA) and a lower rating amounts to several million dollars in savings for a project the size of a new police station. If our credit rating were to drop a project like a new police station or new school would cost several million dollars more.

34. I keep hearing about possible debt exclusions in the coming years. Will there be debt exclusion votes in the next 5-years?

The following projects may need to go before the Town for a debt exclusion vote. All of these projects are currently in the very beginning stages of design. No dates or timeline have been scheduled. Estimated vote will be in 2-3 years. Illustrated costs are basic, high level estimates. With altering global economics, these figures will certainly evolve. 

• Police Station - estimate $25-$30 million
• Remington Jefferson - estimate $10 million
• Horace Mann Roof - estimate $2 million

Foreseeable Capital Expenses

35. I keep hearing about other expected costs in the coming years. What other costs should I be anticipating in the next few years?

In addition to the cost of a potential override, residents will see added cost increases in other areas in FY26. Below please find a list of previously authorized increases:

• An 8% Water increase to pay for PFAS implementation and water main replacements in the amount of $35.00.
• A 13% Sewer Rate increase to replace the 109-year old Beaver Street Interceptor in the amount of $62.00.
• Voters approved debt exclusion for the new Tri-County Vocational School in the amount of $120.00.

36. Who should I contact for more information?

For more information concerning the Town, please contact Town Administrator Jamie Hellen at jhellen@franklinma.gov

For more information concerning the Schools, please contact Superintendent Lucas Giguere at giguerel@franklinps.net

For more information concerning the special election, please contact Town Clerk Nancy Danello at ndanello@franklinma.gov

Additional info can be found on the Town FY 2026 Override page ->    https://www.franklinma.gov/1089/Fiscal-Year-2026-Override-Information

Frequently Asked Questions: FY 2026 Override

 

Frequently Asked Questions: FY 2026 Override -> Questions 29 - 32

Frequently Asked Questions - shared from the Town of Franklin FY 2026 Override Information page. There are 40 and a form to ask another question if it is not already listed there -> https://ma-franklin.civicplus.com/Faq.aspx?TID=41

29. Can we increase fees? 

The state sets limits on how much we can increase fees and what additional taxes (like meals taxes) we are able to assess. Fees must be reasonable as a method to pay for the costs of services and not as a method to raise revenue to pay for general town services.  

In 2024 the Town underwent a comprehensive analysis of all Town fees. On October 16, 2024 with Bylaw Amendment 24-914, the Town Council voted to implement many updates based on changes in state law or state code, changes in market conditions for municipal fees and/or calculations to the costs of service.  

In FY25 the Franklin Public Schools also reviewed and updated various service fees.

Fees will continue to be reviewed on an ongoing basis, however fees cannot be increased enough to eliminate the deficit.

30. How can I learn more about the impact of the override on the schools? 

The Superintendent’s recommended budget presentation contains an overview of the impact of cuts without an override and the potential improvements with an override. It can be found here.  https://core-docs.s3.us-east-1.amazonaws.com/documents/asset/uploaded_file/4780/FPSD/5256287/28Jan2025_FY26_Super_Rec_Budget_to_SC.pdf

You can find detailed budget information here ->   https://www.franklinps.net/o/fpsd/page/school-district-budget

31.What if an override does not pass? 

The Town and Schools will need to cut $3,862,672 from the budget. Please review here the possible service reductions to each department for Fiscal Year 2026 if the override is not approved.

32. Can the Town have a lower tax rate for Seniors or other lower-income residents? 

No, but there are programs offered through the Senior Center, Veterans’ Services or Assessor's Office that may help defer costs, if eligible. Please find a guide for senior exemptions here.

Are there exemptions for senior citizens or other taxpayers who are not able to afford this increase?

Yes. The Town of Franklin, through its Community Assistance Program (CAP) in Section 82 of the Town Code and the Commonwealth of Massachusetts offer a variety of exemptions, discounts & resources to qualifying residents. The Assessors also offer Real Estate Exemptions and Deferral programs to qualifying individuals. There is also a senior tax work off program through the senior center. Please contact the Board of Assessor and the Senior Center for guidance with any of these programs. 

Additional info can be found on the Town FY 2026 Override page ->    https://www.franklinma.gov/1089/Fiscal-Year-2026-Override-Information

Frequently Asked Questions: FY 2026 Override

Frequently Asked Questions: FY 2026 Override -> Questions 25 - 28

Frequently Asked Questions - shared from the Town of Franklin FY 2026 Override Information page. There are 40 and a form to ask another question if it is not already listed there -> https://ma-franklin.civicplus.com/Faq.aspx?TID=41

25. Will the re-assessment of properties increase the revenues the town collects?

No. Proposition 2 ½ limits the total amount of taxes that can be collected, even if property values increase. If all properties in town doubled in value, the tax rate would need to be reduced by half. The total amount of the tax levy would not change. Note that cities and towns are required to measure and inspect properties every  ten years or more often if there is an appeal, a building permit, or a sale. State DOR onsite reviewed Revaluations occur every 5 years, while Interim Year Market Updates are performed annually every other year. This is unrelated to any budget deficits. The only impact that the re-assessment would have on tax revenues is that some additional new growth may be found as part of this process. If there are new decks or other improvements that had not previously been reported to the town, that added value would be treated as new growth with respect to Proposition 2 ½. 

26. Could we borrow to solve this problem?

No. Cities and towns are required to have balanced budgets and are not allowed to borrow money to support operational budgets. 

27. Could we dip into our reserves?

Yes, but that would leave the Town in a very precarious financial situation. There is currently roughly $7.1 million in our stabilization accounts. If the Town were to spend all of that to close the budget deficit next year, that would leave the town without a financial safety net. The Town Council and Finance Committee have been working on updating the financial policies for the town. They have agreed to strive for a minimum balance of 5% of Non-Enterprise Budgets in our stabilization funds. In addition to providing for emergencies, healthy balances in our reserve accounts helps the Town to maintain our AAA bond rating. A strong bond rating is important when the town needs to borrow money. Towns with the highest bond ratings pay the lowest interest rates on the money they borrow. 

28. Did we consider all possible revenue sources?

Yes. As has been stated the Town has very little ability to create revenue streams, the state greatly limits our ability in this area. 

Additional info can be found on the Town FY 2026 Override page ->    https://www.franklinma.gov/1089/Fiscal-Year-2026-Override-Information

Frequently Asked Questions: FY 2026 Override