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.govFor more information concerning the Schools, please contact Superintendent Lucas Giguere at giguerel@franklinps.netFor 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
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| Frequently Asked Questions: FY 2026 Override |
