In the heart of Franklin City Hall, city officials gathered to discuss pivotal financial resolutions that could shape the future of the community. The Board of Mayor and Aldermen (BOMA) work session on April 22, 2025, was marked by significant discussions surrounding pension adjustments and upcoming bond issues, both of which hold substantial implications for residents.

One of the key topics was the proposed resolution to provide a cost-of-living adjustment for retired city employees under the closed pension plan, set to take effect in July 2025. This adjustment, calculated based on the March consumer price index, aims to support retirees in maintaining their purchasing power amid rising living costs. City officials expressed their commitment to ensuring that the needs of retired employees are met, highlighting the importance of this resolution in fostering community well-being.

Another major focus of the meeting was the intent to reimburse the city for certain project expenditures through general obligation bonds, with a proposed cap of $113 million. This resolution is a crucial step in the city’s financial planning, allowing for the reimbursement of costs once the bonds are issued. City officials emphasized that this intent resolution does not authorize debt issuance but is necessary for the city to recover expenses related to various projects, including essential infrastructure improvements.

Among the projects discussed, the replacement of fire apparatus and a major road resurfacing program were highlighted as ongoing priorities. These initiatives, funded through previous bond issues, aim to enhance public safety and improve transportation within the city. Additionally, the Bransford Park project, which has already seen significant investment, is projected to require an additional $15 million to complete, underscoring the city’s commitment to developing recreational spaces for residents.

The most ambitious project on the horizon is the new city hall, with an estimated cost of $85 million. City officials noted that the funding for this project will be a mix of debt and cash, and they plan to return to the board in early 2026 with more detailed information regarding costs and timelines. The new city hall is expected to serve as a central hub for city services, reflecting the city’s growth and evolving needs.

As the meeting concluded, city officials reiterated their dedication to transparency and community engagement, promising to keep residents informed about the financial decisions that will impact their lives. With these resolutions, Franklin City is poised to navigate its financial future while prioritizing the needs of its citizens.