FM #1679 - Franklin (MA) Finance Cmte Mtg - 02/25/26

This session shares the Finance Committee meeting conducted Wednesday, February 25, 2026. The Committee opened with 5 members in Chambers and 1 remote. 2 members absent and 1 had just resigned that morning (and hopefully to be replaced before April budget hearings).

Quick recap:

1. Motion to approve the prior meeting notes, so moved, second, passes via roll call (1 remote) was 6-0-3 (2 absent, 1 resigned this AM)
2. Discussion on the need to replace a fire engine which has frame corrosion and was taken offline.
3. Discussion on an undercarriage wash to help prolong the life of the trucks and rest of the fleet with other issues of corrosion
4. Consider other alternatives for prevention of corrosion, maybe look to a cost analysis on the sand vs. salt/brine solution. What are the pros, cons?
5. Multiple options available for financing, ultimately resolved to recommend authorization of a BAN (a short term borrowing instrument) for the full $935K.
6. This keeps the stabilization account intact for now and can still be used to pay down the principal when the BAN is converted to a longer term finance deal
7. Vote passed 5-1 via roll call
8. Q2 report
9. Snow and ice was gradually increased to be fully funded from ops instead of free cash
10. Lack of FEMA money for 'disaster' events like the major storms
11. Local receipts are not at the level that Kerri would like
12. Library is only $25k over the State minimum
13. Discussion on adding to a May meeting reconsidering the OPEB contribution to relook at the recommendation before the Council votes in June
14. Discussion on the Council handling of the capital budget and suggestion of having FinCom representative at the Council meeting to support any recommendations. A great idea

The recording runs just about 90 minutes, let’s listen

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Franklin TV video is available for replay - https://www.youtube.com/live/sM7NUUmqKlw?&t=245

The agenda and released doc can be found - https://www.franklinma.gov/AgendaCenter/ViewFile/Agenda/_02252026-2152

My notes were captured via the Bluesky app, the top of the thread can be found here - https://bsky.app/profile/franklinmatters.bsky.social/post/3mfpsbpk6us2o

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