Fiscal Management

We are fortunate to live in a city that has a balanced budget. Sound fiscal management is key to our continued growth and financial viability.

Revenue – We continue to show modest gains in the overall tax and revenue base.  However, as 2020 proved, income from a multitude of sources is needed to sustain a healthy economy.  As your Alderman, I will work to attract more multi-national corporations, stimulate small business growth, and be a proponent of expansion in world class dining, shopping and event venue development that fits within our community standards. The larger and more diverse our outside revenue base, the less burden that is placed on property owners through taxation of real property. I have attached graphs of the 2020 Franklin Budget Summary.

Expenses – Fiscally conservative management has kept Franklin’s budget balanced.  Our ability to pay debt service on time has garnered Franklin the Standard & Poor’s and Moody’s AAA Bond Rating, the highest industry standard. Our bond debt is lower than most Tennessee cities on a per capita basis. Prudent fiscal management has been the reason growth has paid for itself in the City of Franklin. Although we enjoy a robust economy, the events of 2020 remind us that things can change in the blink of an eye.  Maintaining healthy savings, good credit ratings and diversified income streams will mitigate financial crisis management in years to come should another event of magnitude present itself.