Budget & Analytics

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The Budget & Analytics Division of the Finance Department is responsible for the development, monitoring and supervision of the City's Annual Operating Budget, the City's Strategic Plan - FranklinForward, and the City's overall Benchmarking and Performance Measurement efforts, as well as the development of various process improvement initiatives, long-range financial plans and models, operational studies and financing of the Capital Improvement Plan. 

What's New?

FY 2018 Proposed Operating Budget 

Check out FranklinForward - the City's first Open Data Performance Measurement website:

https://performance.franklintn.gov/

Budget

The Budget is composed of 13 separate funds that are balanced independently -- revenues equal expenditures. Within each fund, there are revenues, personnel expenditures if applicable, operating and maintenance expenditures, and capital expenditures.

The City's budget is shown in sections to make it more user friendly — Governance & Management, Finance & Administration, Community & Economic Development, Public Safety, Public Works, Other General Fund Operating Expenditures, and Other Special Funds.  Note: The City's water, wastewater, and reclaimed water fund described below is included in a separate budget document.

The City of Franklin's General Fund Balance Policy provides guidelines for preparing the annual budget and ensures that sufficient reserves are maintained for unanticipated expenditures or revenue shortfalls.

The General Fund is the principal operating fund of City government. It accounts for services to the public, including police, fire, streets, parks, planning and a variety of administrative departments that support operations. Taxes, fees and charges, and contributions from other governments are the primary financial resources for general government. Non-operational categories are debt service, capital improvements and reserves related to these operating funds.

Special Revenue Funds are State Street Aid, Solid Waste, Road Impact Fees, Facilities Tax, Stormwater, Drug, Hotel/Motel Tax, Transit, and CDBG. Revenues that flow to these funds can be used only for the projects or services provided by these funds.

The Debt Service fund, first used in 2009-2010, includes anticipated principal, interest, and other debt fees as well as the sources of revenue for these payments.   

The City's water, wastewater and reclaimed water activity is combined into a single enterprise fund. Like the general government fund, the utility funds have operating and non-operating components. Utility operating funds account for the cost of providing and maintaining services to its customers. Distinct from the general government fund, each of the utilities operate much the same as a business (enterprise), with customer charges (rates) supporting all costs. Resources of the utilities cannot be used to subsidize general government functions.

 

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