A Strong Financial Foundation
There is a lot of positive momentum in Frankfort right now. Major public and private investments are moving forward, new housing is being developed, and projects we have worked toward for years are coming closer to reality. Plenty of work remains, but we are moving in the right direction, including our city government’s increasingly strong financial position.
In late June, the Frankfort City Commission unanimously approved the Fiscal Year 2027 budget, and I am proud to support it. For the first time, the city’s annual revenues are projected to exceed $50 million, and we concluded the 2026 fiscal year with another budget surplus. These milestones are worth celebrating because they allow us to provide better service today while investing in our community’s future.
Investing in Our Community
A stronger financial position lets us do more for Frankfort residents. This year, millions of dollars are directed toward capital needs: new police vehicles and ambulances, emergency equipment, and important infrastructure projects. Public safety remains our largest commitment, accounting for nearly half of the city’s operating budget.
We will also begin making major investments from our Parks and Downtown Fund. During my first term, the City Commission dedicated one percent of the insurance premium tax to parks and downtown improvements. We can now bond those revenues and make near-term investments, allowing us to improve our public spaces.
Decisions That Are Paying Off
The Parks and Downtown Fund is not the only decision from several years ago that continues to pay dividends. My background is in financial management, so in my first term I focused on the unglamorous work that protects taxpayers: we created a Finance Committee, modernized the city’s investment policy, and established a formal minimum fund balance policy. These didn’t generate much attention at the time, but together they have dramatically improved the way we manage the city’s finances
Our investment policy allowed us to prudently invest a small portion of city reserves for greater long-term growth, resulting in over $1 million in additional gains. Our minimum fund balance policy sets how much the city should keep for emergencies while giving us the confidence to put dollars above that amount to productive use.
We began this fiscal year with over $7 million in surplus reserves above that minimum, resulting from prior budget surpluses, investment growth, and repositioning funds previously held in unnecessarily restrictive accounts. Maintaining strong reserves is important, but taxpayers’ money should not accumulate without purpose. Once we have protected the city’s financial security, we will put excess funds to work improving our community and investing in its future.
A Growing Economy Makes a Difference
Sound financial management is only part of the story. Frankfort’s wage base and net profits are growing, resulting in additional revenue for city services. We have also increased our focus on collecting revenue already owed and tightened financial controls. Together, economic growth and better financial management are creating opportunities to improve our community.
I believe city government can create conditions that encourage investment and strategically use our resources to unlock larger opportunities. The Paddocks is opening and will spur development around it. The new downtown meeting and event center is moving forward, new housing is on the way, the indoor pool and wellness center is on the horizon, and efforts to revitalize our riverfront and downtown continue. Each creates opportunities for additional private investment, a larger tax base, and an improved quality of life for all of us.
I believe city government can create conditions that encourage investment and strategically use our resources to unlock larger opportunities. The Paddocks is opening and will spur development around it. The new downtown meeting and event center is moving forward, new housing is on the way, the indoor pool and wellness center is on the horizon, and efforts to revitalize our riverfront and downtown continue. Each creates opportunities for additional private investment, a larger tax base, and an improved quality of life for all of us.
This is what happens when a community believes in itself, seizes opportunities, and follows through on a clear vision. There is a lot to celebrate and even more to look forward to.
All my best,
