DATE: January 15, 2020
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Michael Walters Young, Budget & Strategic Innovation Manager
Holland Schellhase, Management Fellow
SUBJECT:
title
Stormwater Fund Review Update.
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Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the research and findings City staff has produced over the last year concerning the operational and financial stability of the Stormwater Fund.
Background
In November 2018, the Board received a detailed report concerning the City’s Stormwater Fund (attached). As a result of that meeting, staff was directed to research further how the fund could enhance its overall financial and operational stability. Over the course of the last year, City staff has, among other items:
- Reviewed all existing stormwater customers and classifications
- Updated the City’s stormwater base maps to account for the latest visual assessment of impervious surfaces
- Analyzed operations to determine both sustainability and what areas could be shifted to the General Fund, and
- Forecast potential fee adjustments and increases for FY 2021 and beyond
This review will summarize this work and discuss next steps.
Financial Impact
There is no financial impact from this presentation.
Recommendation
Staff recommends receipt of the presentation. Additional recommendations will be provided as a part of the City Administrator’s recommended FY21 Budget.