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Finance committee approves $285,000 transfer for police retroactive pay, overtime and longevity
Summary
The committee approved a $285,000 transfer from reserve and free cash to police salary accounts to fund retroactive pay for police captains, overtime, and longevity adjustments; a city finance official said the contract is nearly finalized.
The Peabody City Council Finance Committee voted to transfer $285,000 to police payroll accounts to fund retroactive pay for police captains, overtime, and longevity adjustments.
City Finance Director Mike Gingras told the committee the transfer will fund retroactive pay primarily for police captains who have been out for more than two and a half years and will also address longevity and rate adjustments for other officers. Gingras said the transfer request covers cleanup and retroactive payments tied to recent contract work.
Councilor Turco asked whether the underlying contract has been fully executed. Gingras said the contract was “not quite finished but it will be shortly.” Councilor Gould moved the transfer, which drew a roll call recorded as five yes votes and zero no votes; the motion carried 5‑0. The motion specified transfers from budgeted reserve account number 1000132057410 ($201,288.03) and unreserved fund balance/free cash account number 1000000035901 ($83,711.97) into police salary account number 100021005110 and related overtime and longevity accounts (total $285,000).
The committee discussion focused on funding the retroactive obligations; no amendments or conditions on spending were recorded in the meeting transcript.
