Franklin approves multi-fund budget amendment that funds Pearl Park land purchase and Liberty Park expansion

On second reading during the Jan. 13 meeting, the Board approved Budget Ordinance 2025‑52, a multi‑fund amendment reallocating revenues and expenses across general, stormwater, hotel/motel, capital projects and water management funds.

Skye Gearhart, management fellow in the budget office, outlined the changes: a $3,694,625 net increase in general fund revenues and expenses (including $20,435 from an opioid settlement), a $3,553,190 transfer (noted at $2,500,000 to the water management fund for land containing Pearl Park, plus $753,000 for SR‑96 East median barriers and $300,000 for Liberty Park expansion), and additional modest adjustments for equipment and operations in engineering, police (Axon body cameras long‑term agreement), streets, and parks. Stormwater revenues and expenses reflect work paid by the Heritage Foundation; the hotel/motel fund was adjusted downward to reflect a conservative occupancy tax assumption while staff pursues an AG ruling that may allow restoring a 5% assumption earlier.

In the water management fund, emergency repairs and capital needs were recognized with matching expense lines and a plan to cover part of the total cost through fund balance and internal savings rather than new debt. The amendment was moved and adopted unanimously.

Outcome and next steps: Ordinance 2025‑52 passed unanimously. Staff said another budget amendment may follow in May to close out the fiscal year and that the water emergency repair plan aims to avoid issuing new debt.