Proposed Franklin budget includes pay increases
City Manager Elizabeth Dragon is proposing a budget of $10,277,478 for Fiscal Year 2015. Last year’s approved budget was $10,072,555.
“The COLA and step increases are significant and have been sacrificed in years past to bring the budget in line and offset health costs,” Dragon said. “I worked diligently to be able to give raises to the employees.”
The plan originally had a guaranteed maximum rate increase of 13.6 percent, but recently the rates dropped slightly below the current cost of insurance, she said.
The city is also receiving a “return of surplus” from the state’s Health Trust of $60,000. Rooms and Meals Tax distribution to the city is also expected to increase because the state budget includes an additional $5 million to be distributed to municipalities. Franklin has estimated its share at $31,275, Dragon said.