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Finance committee approves $1.55 million transfer to cover snow removal, road salt costs
Summary
Peabody's Finance Committee voted 5-0 to transfer $1,550,000 from free cash to cover this winter's snow removal services and sand/road salt costs: $1,065,000 for snow removal services and $485,000 for sand and road salt.
The Peabody City Council Finance Committee approved a $1,550,000 transfer from unreserved fund balance (free cash) to cover higher-than-expected snow and ice removal costs and the purchase of sand and road salt.
Finance staff (Mr. Gingras) told the committee, "Every year we come to you this time of year to, recover, and fund the cost of, snow and ice. This year, was a little bit worse than the prior year," and said the city was requesting the funding from free cash. The transfer allocates $1,065,000 to snow removal services and $485,000 to sand and road salt.
Councilor Gould moved the transfer from account number 100000003501 (free cash) in the amount of $1,550,000, broken out to account 100042105336 (snow removal services) for $1,065,000 and account 1000210054812 (sand and road salt) for $485,000. The committee recorded a roll-call vote of five yes, zero no; the motion carried 5-0.
No additional conditions or amendments were recorded. Staff characterized the transfer as necessary to cover an increased expense year-over-year; the meeting record did not show further discussion of contracting changes or long-term budget adjustments.
