127 (2016 population: 674) is a rural municipality (RM) in the Canadian province of Saskatchewan within Census Division No.

In the 2021 Census of Population conducted by Statistics Canada, the RM of Francis No.

127 is governed by an elected municipal council and an appointed administrator that meets on the second Thursday of every month.

[3] The reeve of the RM is Richard Morley while its administrator is Shala Kanasevich.

[3] The RM's office is located at PT NE 32 14 14 W2.