Episode 1338
FM #1338 - Franklin (MA) Finance Reorg & Updates - 12/1224
This session shares my conversation with Town of Franklin Chief Financial Officer Kerri Bertone and Interim School Business Administrator, Jana Melotti. We had our discussion in person in the Finance offices at the Town of Franklin municipal building on Thursday, December 12, 2024.
Kerri, Chris Sandini (now retired) and I had recorded a session on the budget cycle and finance terminology in April 2022. Aside from the Triple AAA bond rating, which we had not achieved at the time of the recording, it did happen in May 2022, nothing significant had changed in the cycle and recording material.
The Town and School sides did see a reorganization of the Finance functions this year and we review those details in this session.
We cover
- The new Finance team org chart for Town and Schools
- Separation of duties and cross training
- Maintenance of the AAA bond rating is key
- Discussion on similarity of enterprise funds (Town) and revolving accounts (Schools)
- Free cash and capital funding
- Reimbursement of the emergency shelter school kids by DESE
- Audit of FY 2024 closing out, free cash being certified, budget cycle in process
The recording runs about 50 minutes, so let’s listen in.
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Finance organization chart (part of Nov 6, 2024 Finance Cmte meeting)
April 2022 recording with Kerri & Chris Sandini
https://www.franklinmatters.org/2022/04/the-town-of-franklin-budget-cycle.html
3 part series on Water
3 part series on Sewer
Town budget page https://www.franklinma.gov/town-budget
School budget page https://www.franklinps.net/o/fpsd/page/school-district-budget
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The music for the intro and exit was provided by Michael Clark and the group "East of Shirley". The piece is titled "Ernesto, manana" c. Michael Clark & Tintype Tunes, 2008 and used with their permission.
I hope you enjoy!
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