Franklin (MA) Matters

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 SchoolsSeparation of duties and cross trainingMaintenance of the AAA bond rating is keyDiscussion on similarity of enterprise funds (Town) and revolving accounts (Schools)Free cash and capital fundingReimbursement of the emergency shel