Two incorporated municipalities are located in Franklin Township: part of the village of Anna in the north, and part of the city of Sidney, the county seat of Shelby County, in the south. As well, the unincorporated community of Swanders lies in the township's center.
The township is governed by a three-member board of trustees, who are elected in November of odd-numbered years to a four-year term beginning on the following January 1. Two are elected in the year after the presidential election and one is elected in the year before it. There is also an elected township fiscal officer,[6] who serves a four-year term beginning on April 1 of the year after the election, which is held in November of the year before the presidential election. Vacancies in the fiscal officership or on the board of trustees are filled by the remaining trustees.