This session shares the Finance Committee meeting conducted Wednesday, January 15, 2025. 7 members of the Committee were present in Council Chambers on the 2nf floor of the Town of Franklin municipal building for this session (2 absent). 

Many of the Town department leaders were present and participating as needed. School Superintendent Lucas Giguere participated as did Interim School Business Administrator Jana Melotti along with consultant Dr Bob Dutch.

Quick recap 

• Town Administrator Jamie Hellen walking the committee thru the memo on the capital budget https://www.franklinma.gov/sites/g/files/vyhlif10036/f/uploads/04a._fy25_capital_improvement_plan_memo.pdf 
• Many clarification questions on what for when, as well as possible reallocation of the recommendation. Chart on free cash is for information purposes
• First resolution on use of free cash for the capital budget resulted in a discussion around amending the amount and creating a technology stabilization fund but ultimately that did not get amended and it was approved as proposed by a 7-0-2 (7 for, 2 absent) vote
• Second resolution on funding from the enterprise accounts was approved as recommended with the same 7-0-2 vote
• Now to the Opioid settlement funds. Memo  https://www.franklinma.gov/sites/g/files/vyhlif10036/f/uploads/5a._opioid_settlement_funds.pdf   and the Resolution for approval https://www.franklinma.gov/sites/g/files/vyhlif10036/f/uploads/5b._1_-_resolution_25-02_-_opioid_funding.pdf 
• After explanation of the current funding and a look at future funds coming (approx. $1.2M) the vote to approve the resolution passed 7-0-2
• Now to the "hold harmless" topic for Chapter 70 school funding. State house news article references a commission to look at school funding https://www.franklinma.gov/sites/g/files/vyhlif10036/f/uploads/6b._with_new_term_dawning_spilka_eyes_k-12_funding_reform_primary_care_overhaul_senate_statehousenews.com_.pdf 
• We are currently getting $12m over what the school funding formula calls for. We are the 2nd largest hold harmless (Boston #1) A change to the formula takes time. Jamie has been warning of this for some years. 
• Approximately 18-20m of town costs for school functions go to the net school spending. accounting to determine the per pupil spending calculation. ** $27m for FY 2024 fiscal year is actual. Confirmed that 24, 25 and 27 for last 3 years
• Long and complex discussion around the possible review of the formula
• Folks see the buildings going up but the population has been flat. Great quote from Jamie (to clip later) on the wealth growth and the hold harmless getting worse unless we choose to pay more

The recording runs almost 2 hours and 30 minutes, so let’s listen in.

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

Franklin TV video available for replay -> https://www.youtube.com/live/yzii8AGsv7k?&t=234 

Agenda and supporting documents for this session ->  https://www.franklinma.gov/sites/g/files/vyhlif10036/f/agendas/finance_committee_meeting_agenda_-_january_15_2025.pdf 

My notes in one PDF -> https://drive.google.com/file/d/1ArVXe5jDOAsetxonq0voW2eKTSe_XWN3/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. 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"