City of Franklin Releases Proposed 2026-2027 Budget
Budget represents Franklin’s ongoing commitment to investing in the future while delivering a high level of service to the community today.
Franklin, TN – Today, Franklin City Administrator Eric Stuckey released his recommended budget for fiscal year 2026-2027 (FY27). The following is an excerpt from Stuckey’s annual budget message to the Franklin Board of Mayor and Aldermen.
Franklin has a distinctive vitality. This unique vibrancy stems from years of planning and strategic investment. Our budget, a critical element of that planning, aims to deliver excellent community service and future-focused investment while preserving our history through its important and diverse stories. We work each day toward our vision to be America’s finest Hometown, driven by excellence, balancing preservation, and progress.
Each year, the City of Franklin strives to meet community needs and support work that achieves these shared aspirations. Consistently rated as one of America’s top places to live by outlets like Money, Fortune, Southern Living, USA Today, and Livability, Franklin continues to show strong economic growth, including a record $1.7 billion in private investment over the past two years. Our All-American City is honored to be the community so many are choosing as the place to invest, build a business, raise a family, spend a vacation, and, most of all, proudly call “home.”
The proposed 2026-27 (FY27) budget advances decisive action taken by the Board of Mayor and Aldermen in the FY26 budget that put Invest Franklin 2.0 in place, providing needed additional capacity to support vital infrastructure investments and support operational excellence. Through this additional capacity, the City achieved a strong partnership with the State of Tennessee to widen one of our most vital roadways, Mack Hatcher Parkway – Southeast. Through its forward-thinking investment, Franklin became one of only nine partnership projects and the single largest approved by the State in its 10-year roadway plan. The City’s Invest Franklin initiative, enhanced in the current budget, has been the backbone of the City’s 10-year capital investment plan (CIP) that totals $458 million of which 82% is focused on transportation needs. This plan is fiscally sound with a responsible balance of cash resources (66%) and debt (34%). In addition to securing an important partnership with the State of Tennessee to widen Mack Hatcher Parkway, long-awaited improvements are now well underway including the widening of McEwen Road on the City’s east side, Pearl Park (The Pearl M. Bransford Municipal Complex) in southeast Franklin, and the new City Hall project which will reshape an entire block of Franklin’s beloved downtown square.
The City of Franklin continues to be bolstered by strong long-term financial plans and policies that provide vital financial capacity to meet both challenges and opportunities. Our best efforts will be required to meet the demands that lie ahead. The City must continue to deliver high-quality services, enhance existing infrastructure, and prepare for growth in terms of services, infrastructure, and community impact. To that end, the City of Franklin will craft a budget and action plan that is both fiscally prudent and consistent in maintaining our commitment to high-quality community service.
Budget Overview
The FY27 budget for all funds is $273.4 million, which represents an increase of 2.7% compared to the amended budget for FY26. The General Fund budget is $134.2 million, which represents an increase of 1.8% compared to the amended FY26 budget.
Highlights of the 2026-27 Budget
- The budget is balanced and fully complies with the Board of Mayor and Aldermen’s debt and fund reserve policies.
- The City of Franklin’s property tax rate remains unchanged at $0.296 per $100 of assessed valuation. The Invest Franklin 2.0 dedicated funding for infrastructure/transportation investment and support of City operations remains in place. The City of Franklin property tax rate remains one of the lowest property tax rates in Tennessee and among the lowest among comparable cities nationally.
- The City continues to invest in its most important resource, our City team members. The FY27 budget includes a general pay increase of 2.5% plus an additional performance-based pay increase of up to an additional 2.5%. The City’s compensation plan remains highly competitive, with all positions at or above the 90th percentile market target.
- Thanks to additional operating support provided through Invest Franklin 2.0, the FY27 budget includes funding for eight new positions in the General Fund including three Police Officers (patrol), a Sergeant in Police (training), restoration of the Contract Specialist position in Finance, an Organizational Development Specialist (Human Resources), and the restoration of two Grounds Worker positions in Parks and Recreation. While not adding positions, the Fire Department will fully implement the District Captain structure to enhance its operational effectiveness. One full-time position has been reduced in Administration.
- Health insurance premiums for City team members will increase by 2.5% for FY27, the first premium change in four years. Out-pocket-maximums will increase for the first time since 2014.
- Based on a thorough cost of service study, Sanitation and Environmental Services fees for residential trash and recycling service will increase by $1 per month ($34 per month total fee) in FY27. Commercial tip fees at the City’s transfer station are also increased in the FY27 budget. These rate adjustments are part of a five-year rate plan to maintain the self-sufficiency of this operation.
- Stormwater fees will also be adjusted for the first time since 2018. The rate adjustment which is projected at an additional $20.70 on an annual basis for most residential customers will return this fund to self-sufficiency.
- The budget incorporates performance measures, called “FIT 5” measures, are included for every aspect of City operations. The connection to our updated Strategic Plan, FranklinForward, is clearly linked to performance measures and objectives throughout the budget.
Read more about the budget at https://stories.opengov.com/cityoffranklintn/0494b306-70ae-478e-a9e6-091c2008cd5f/published/PIPvaell4
-###-
